This Week in the 239
Hi, it's Jeremy. Florida voters said yes to Amendment 3 on Tuesday, Collier voters said yes to a higher bed tax, and a 24-story tower in Estero hit its halfway mark. It was a big week for the 239, with decisions that will show up on tax bills, hotel receipts and the skyline over the next couple of years.
⚡ The 239 in 60 Seconds
🗳️ Amendment 3 passed with about 62% of the vote, above the 60% it needed. The bigger exemption starts Jan. 1, 2027, and the residency date to know is Dec. 31, 2026 (Read More).
🏨 Collier's bed tax goes from 5% to 6% on Jan. 1 after voters approved it, 112,812 to 47,776 (Read More).
🏖️ Naples Grande reopens in January as a Signia by Hilton after a $100M overhaul, with five new dining spots (Gulfshore Business).
💡 Did you know? Paraíso Beach Club on Vanderbilt Beach raised its initiation fee from $115,000 to $150,000, and about half its memberships are sold (Gulfshore Business via Tim Aten).
New Around the 239
🏛️ Naples private clubs are multiplying, from Kinsale to a Hibiscus conversion → [Source: Gulfshore Business, via Tim Aten]
🏢 Sole Naples: 28 luxury condos planned on the former Burger King site in Naples Park → [Source: The Naples Press, via Tim Aten]
🛍️ Goodwill converting the former Regions branch at US 41 E. and Collier Blvd. into a thrift store, opening tentatively in early November → [Source: The Naples Press, via Tim Aten]
🏨 Naples Grande unveils five dining spots ahead of its January reopening → [Source: Gulfshore Business]
🏗️ Hilton Marco Island withdraws its plan for a second tower, for now → [Source: Gulfshore Business]
The 239 Market
Market Pulse (interim week):
No new NABOR or Coconut Coast REALTORS monthly report has been released since the September figures in last Friday's issue. NABOR's September release came out Oct. 23, so October data should land mid-to-late November (NABOR market statistics).
Luxury Market Insider: Naples Gulf access homes (last 6 months) Gulf access means boating access, not beachfront. This is MLS data from NaplesNest Market Insider (single-family homes, updated Nov. 6), not comparable to NABOR board reports. Across the two reports, Port Royal, The Moorings, Park Shore, Coquina Sands and Conners at Vanderbilt Beach plus Aqualane Shores and Royal Harbor show 92 active listings, 16 under contract and 54 sold. Supply is deep, and buyers have room to negotiate.
Sales pace: 54 sold in six months (38 in the first group, 16 in Aqualane Shores and Royal Harbor). Only 3 of the 54 sold at or above asking, and 46 sold below 95% of list.
Sold-to-list: 90.8% for the first group; 89.6% for Aqualane Shores and Royal Harbor.
Months of inventory: 9.0 for the first group; 13.4 for Aqualane Shores and Royal Harbor.
Sold price bands: About $1.7M to $40.2M in the first group (averaging $12.0M); $1.65M to $19.5M in Aqualane Shores and Royal Harbor (averaging $7.3M).
Time to sell: Averages of 188 days and 278 days. These are averages, not medians, and a handful of very large sales pull the numbers up.
Related: Amendment 3 passed, and its residency date matters to anyone weighing a Florida move. Full item under This Week in Naples & Bonita Springs.
Jeremy's Take: Rates have now eased three weeks in a row, but at 7.18% they are still about a point above where they were a year ago, so buyers are still negotiating hard rather than rushing. Add a property tax change that starts Jan. 1 and a lot of people have a year-end clock in their heads. What is that clock doing to the decision to buy before December, and who is actually affected?
30-year mortgage rate: 7.18%, down from 7.24% last week, vs. 6.22% a year ago. [Source: Freddie Mac PMMS, Nov. 5]
Curious What’s Selling Near You?
See What's Happening in Your Neighborhood:
This Week in Naples & Bonita Springs
What it does: The homestead exemption for non-school taxes rises from about $50,000 to $150,000 in 2027 and $250,000 in 2028, and the annual cap on assessment increases for non-homestead property drops from 10% to 5%, per WGCU and Kaufman Rossin. It takes effect Jan. 1, 2027, so it does not change 2026 tax bills. The first visible changes come with August 2027 TRIM notices.
The school-tax caveat: The increase applies only to non-school taxes. The school homestead exemption stays at $25,000, and school taxes are often the largest piece of a Collier or Lee tax bill, so the full bill does not drop by these amounts (Kaufman Rossin).
The Dec. 31 date: Residency on Dec. 31, 2026 determines who gets the expanded exemption. People who were not Florida residents on that date get the current exemption when they first qualify, and the expanded amount starts in their fifth year (News4Jax). The 2027 homestead application deadline is March 1.
Local numbers: Lee County voted about 69% yes (Lee County Supervisor of Elections). Before the vote, Collier's Clerk projected a shortfall of about $63M once it takes effect, growing to about $120M by 2028 (Collier Clerk), and Lee commissioners projected cuts of $121M in 2027-28 (WGCU). Those were projections, not final budgets.
What's next: The Legislature still has to pass implementing rules, and DeSantis has said he wants a special session (WGCU). Results are unofficial. Disclosure: I'm a Realtor, and NABOR and Florida Realtors backed Amendment 3. This is information, not tax advice; check with a tax professional about your situation.
🏨 Update: Collier voters approve the bed-tax increase, 70.2% yes → [Source: Gulfshore Business]. The rate goes from 5% to 6% (a $300 room goes from $15 to $18 in tax), raising an estimated $9-10M a year, and WINK News reports it starts Jan. 1.
🗳️ Lee voters back single-member commissioner districts and term limits → [Source: WINK News]. Per unofficial county results, the single-member-district charter amendment passed with about 76% and term limits with about 86% (Lee County Supervisor of Elections). Bonita Springs Council District 3 and 5 leaders are Ruth Condit (a plurality) and James Anderst, per the same results.
🏛️ Collier Commissioner Chris Hall cruises to a second term with 76% → [Source: Gulfshore Business]
🛒 Update: Cape Coral approves a $10M Costco incentive deal, then ends its city manager's contract → [Source: WINK News]. Last issue said up to $8M; the approved agreement is $10M for a 165,000-sq-ft warehouse and gas station.
🌊 Estero's 100-year flood risk could worsen with sea-level rise, a new study finds → [Source: Gulfshore Business]. The study projects deeper flooding from rare storms by 2080, possibly threatening roads and bridges.
🔧 Home Tip of the Week
Whether you are welcoming seasonal neighbors back or reopening your own second home, a short walk-through now beats a surprise in January.
Run every faucet and flush each toilet for a minute, then check under sinks and around the water heater for slow leaks before the house fills up again.
Replace the A/C filter, make sure the condensate line is draining, and set a temperature that keeps indoor humidity down.
Walk the outside: lanai screens, door seals, exterior lights, and the batteries in garage and gate remotes.
Update who has keys and alarm codes, and confirm your emergency contacts with your alarm company or property manager.
Check with your insurance agent, property manager or a licensed contractor for specifics on your home.
☀️ Weekend Weather
Saturday: High near 83°F and sunny. Sunday: High near 83°F and sunny. [Source: National Weather Service point forecast for Naples, issued Nov. 5]
📅 5 Things to Do This Week
The Market Returns to 3rd (winter season opener): Sat., Nov. 7, 7:30-11:30 a.m., Third Street South, Naples. Details
Rembrandt: Masterpieces in Black and White: Daily, Naples Art Institute, 585 Park St., $15. Etchings from the Rembrandt House Museum. Details
Frontiers: #1 Tribute to Journey: Fri., Nov. 6, 7:30-9:30 p.m., Performing Arts Center, Bonita Springs, $45-55. Details
Birding with Biologists: Fri., Nov. 6, 8-11 a.m., Rookery Bay Environmental Learning Center, $30. Details
Il Volo: Live in Concert: Wed., Nov. 11, 8 p.m., Hertz Arena, Estero. Details
👀 What We're Watching
The October NABOR and Coconut Coast REALTORS reports are also due in mid-to-late November, and we will have fresh numbers when they land.
The 239 Five
🍽️ Restaurant (worth knowing): Mediterrano, 336 13th Ave. S. in Old Naples, serves coastal Mediterranean dishes inspired by Spain, Greece, Italy and Morocco, with a patio, private dining and a wine list from Mediterranean coastal countries. Dinner is served daily, and OpenTable lists prices at $31-$50 per person.
🎭 Event worth attending: Mark Sanders: Let Freedom Ring, A Salute to Veterans, Tue., Nov. 10, 7:30-9:30 p.m., Moe Auditorium, Bonita Springs, $38-48.
🍲Taste of Mercato: Sat., Nov. 7, 5 p.m., at Mercato in Naples. It’s a food tasting event, but the listing has almost no details, so confirm the format and ticketing first. Listing
🌳 Outdoors: "Cypress: The Last Old-Growth Swamps" photo exhibit at Corkscrew Swamp Sanctuary.
The Surrealist International: Fifty Years of Dreams: An exhibit of Surrealist works from Tate’s collection at The Baker Museum, Artis-Naples, running Oct. 17, 2026 to Feb. 14, 2027. It’s an evergreen “plan a visit” pick with a long window. Paradise Coast listing
Featured Listing
4655 St Croix Ln #1428, Naples, FL 34109, $324,900
A rare find in St. Croix: 3 bedrooms and a deeded garage, $324,900 Full disclosure: this is my own new listing with Downing-Frye Realty.
4655 St Croix Ln #1428 is a second-floor, end-unit, 3 bedroom, 2 bath condo in gated St. Croix at Pelican Marsh, North Naples. Of the nine St. Croix condos currently listed on the MLS, it is the only 3-bedroom, and it pairs that space with something you rarely see in the community: a deeded, detached one-car garage with an automatic door.
Why it stands out:
Room to spread out: 3 bedrooms, 2 baths and 1,314 square feet of living area, the most space of any St. Croix condo now on the market, with a screened lanai and a walk-in closet.
Move-in ready updates: Renovated bathrooms, fresh interior paint, a brand-new water heater, updated bedroom flooring, tile in the main living areas and mostly replaced appliances. The A/C is about 4 years old.
Location: Near Mercato, Seed to Table, Immokalee Road, Livingston Road, I-75 and the Gulf beaches.
Resort-style amenities: Gated entry, community pool and spa, clubhouse, exercise room, tennis court, playground and BBQ area.
The details: Built in 1999, unfurnished. HOA fees are $1,409 per quarter ($5,636 a year) and cover items such as cable, irrigation water, lawn and land maintenance, sewer, trash and insurance, plus a one-time $150 application and transfer fee. Pets are allowed with association approval (up to 2, 40 lb maximum), and leases have a 30-day minimum, up to 4 per year.
Want to see it? See the photos, video, floor plan details and full costs for #1428 → or reply to this email to set up a private showing.
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Have a great halloween weekend!
Jeremy
