Quail West lot auction
An auction of Quail West estate home lots in Naples this weekend will be a good litnus test for the strength of the local luxury home market. This is a unique approach by Orlando based Ginn Company to market a high-end community.
Lot prices range from the $600,000s to $1.3 million. They're available in two sizes — one acre and a half-acre. They include a full golf membership to Quail West's country club valued at $175,000. Club membership is required.
Orlando-based Ginn Co. will unveil its new vision for the upscale Quail West residential community at the Collier-Lee county line. And for the first time since acquiring the development and spending millions on improvements, the company will offer estate-size lots for sale.
About 1,000 registered to buy the lots, so Ginn stopped taking reservations from interested buyers three weeks ago. About 40 percent of the reservations have come from local residents. All of the potential buyers coming to the event have put down a $500 deposit. But there are only 266 home sites for sale at the master-planned, golf course community off Bonita Beach Road, a half-mile east of Interstate 75.
"Our goal is to sell every one of those 266 lots," said Tom Brosnan, vice president of sales for Quail West. "We are confident in saying that we expect sales from this event to be well over $200 million."
There are currently 17 re-sale lots listed in Quail West ranging in price from a low of $650,000 to a high of $1,490,000.
Hundreds coming for weekend bids on lots [Naples Daily News]