Welcome!

Welcome to our Jan-Feb newsletter of 2005, which has a number of pertinent articles, such as real estate news, as well as local events and information. We hope you find this issue helpful and informative. You can always explore past issues by visiting the newsletter archive.

If you would like to be notified of new communiqués monthly, just send your email address to newsletter@carlabontenrealty.com. Don't forget to include your email address! Enjoy!

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Carla Bonten Realty, Inc. News:

Amatique Bay Resort & Marina Updates…

As you know, Carla Bonten Realty, Inc. has been working in conjunction with the developers of Amatique Bay to market and bring to you…or rather, we’d like to bring you to this new destination. We are providing you with an opportunity to own a home in a “new residential frontier” that is overlooked and underestimated by much of the world.

To bring you a little bit closer to this reality, you can now visit www.cb-amatiquebay.com. It’s our newly created website where you can get more acquainted with the project. It currently has answers to the initial questions most people will have. We are however, constantly updating it as new information becomes available. Look for a Q&A page that will be available soon. You can easily find our contact information including an e-mail address and phone numbers…international or domestic…all for your convenience.

While you are viewing our new website, we’d like to remind you that all the pricing is currently at pre-construction levels starting in the low $300,000 USD. Optional title insurance is available from the international division of First American Title Insurance Company – Miami, Florida. Financing is also available through ABC Financial Group, Inc. a Bonita Springs, Florida (USA) based company for your peace-of-mind.

We’d like to answer any of the questions you may have, so your feedback and inquiries are more than welcome. Until next time…

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Ask Carla!

My sales team and I are frequently asked questions about real estate transactions. We have decided that including a few commonly asked questions in our newsletter would be helpful to our clients.

Dear Carla,
My sister bought her first house last year and my husband and I are purchasing ours in three months. My sister said that the closing meeting took two hours and she was asked to sign hundreds of papers. I know she is exaggerating but I would like to know a little about what I am going to sign before I’m faced with the foot high pile she described.
        --Fran in North Naples

Dear Fran,
Transferring the ownership of property is a serious process that must be done correctly in order to protect all parties involved. The stack of documents only seems high and most closings take less than one hour. Closings that involve a mortgage require that the buyer sign eight documents:

1. The RESPA settlement statement is named for the Real Estate Settlement Procedures Act, a federal law that mandates the use of the form for real estate closings involving a federally related mortgage loan. This is a two-page tally of all adjustments between the seller and buyer. It divides the payments and adjustments into two figures, the amount to be paid to the seller and the net amount due from the buyer.

2. The closing statement contains similar information as the RESPA statement but in a format that provides details of how escrows and fees due the lender were calculated. Escrows are amounts paid with the monthly mortgage payment. These are obligations such as property taxes and insurance that are due each year but are collected each month and paid by the mortgage holder for the borrower.

3. The initial escrow account disclosure statement gives an estimate of how escrows will be collected and paid over the next twelve months.

4. The mortgage note is the promise to pay the amount loaned by the lender. The amount borrowed, interest rate, place their payments must be made and information about what will happen if the payments are not made are included in the terms of the note. Pay attention to this.

5. The mortgage describes the collateral needed to support the mortgage note. It contains details about the terms of the loan and actions that could constitute default that could lead to foreclosure.

6. The disclosure statement advises the borrower that the lender may transfer the right to collect monthly payments to another lender or a company that is in the business of collecting mortgages.

7. The owner’s estoppel certificate advises the borrower that the lender may assign the mortgage to another lender.

8. The initial tax authorization statement authorizes the lender to pay property taxes out of the escrows included in the monthly payment.

Every closing is different but these are the basic forms that you may be asked to sign at your closing. There may be additional documents such as forms directing taxing bodies to send bills to the correct parties.

When you think about the enormity of legally transferring property from one owner to the other, signing any number of documents that are correctly prepared does not seem so bad. You may want to seek the advice of an attorney to help you through this process.

Dear Carla,
What is PMI? How long do we need to pay this?
          --John in North Naples

Dear John,
Private mortgage insurance protects a lender against loss if you stop making mortgage payments and without this, it would not be possible for you to buy a home with very little down. Private mortgage insurance (PMI) is insurance against the non-payment of a mortgage or loan involved in a residential mortgage transaction. Studies have shown that homeowners with less than 20 percent invested in a home are more likely to default on their loans, making low down payment mortgages risky to lenders. Federal law, the Homeowner Protection Act, regulates this insurance. Lenders require PMI on low down payment mortgages to reduce their risk should the borrower default on the loan.

This insurance must automatically terminate when your balance on the mortgage you are about to agree to reaches 78% of the original value of your home. You may also initiate termination, in writing, when your balance reaches 80% of the original value.

Another way you may be able to eliminate the insurance is if the value of your property increases, due to home improvement or market conditions. If the current balance of your mortgage is less than 80% of the current value of your property, your lender may allow you to terminate PMI. Most lenders will require that you pay for an appraisal. For example, a homeowner who owes $160,000 on a $200,000 home still owes 80% of the home's value. But if that home's value has grown to $400,000, the debt now represents only 40% of the home's value. Contact your lender for more information.

Government-owned loans, such as those by federal HUD, FHA or the VA are not regulated by the Homeowner Protection Act. Second mortgages are also not regulated and do not qualify under the PMI termination rules.

Don’t be unhappy that you must pay this insurance. Private mortgage insurance makes it possible to buy a home sooner because you don't have to put down as much money up front. First time buyers benefit because they do not have to save as much money to buy that first home. If you are trading up, PMI allows you to consider homes in a wider price range. Whether you are buying your first home or moving to another, you can make a smaller down payment and keep more of your savings for other uses.

Contact a mortgage attorney if you have any questions about private mortgage insurance.

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November - November 2004
Top Producers

The Galli Team
John & Jeanine Galli, Realtors®

2004 TOP PRODUCERS!!
November Listing Agents
December Sales Agents

John is a native of Hartford, Connecticut and Milwaukee, Wisconsin and has been involved with rental and commercial property since 1973. He came down to the Bonita area for 15 years seasonally before moving here in 1992. Jeanine Galli is originally from Rock Island, IL, where she attained her Real Estate license in 1972 and later earned her designation GRI (Graduate of the Realtors Institute). She has been active in Bonita Springs real estate since 1986. John & Jeanine have been consistent multi-million dollar producers and have earned the Bonita Springs Real Estate Board's "Sales Excellence Award" every year since 1994. They are both members of the Florida Association of Realtors, The National Association of Realtors and the Bonita Springs Board of Realtors. Both John and Jeanine love to work with properties such as beachfront condominiums, golf course communities residences and general real estate in the Naples/Bonita Springs area. Call 239-596-1574 or click to email the Gallis.

Pamela McCall, Realtor®
December Listing Agent
Pamela McCall has been in residential and commercial real estate since 1979. After traveling the world with the Department of State/Foreign Service, Pam and her husband Chris returned to the Bonita Springs/Naples area where she has continued her real estate career. She is very active in the city of Bonita Springs and her fluency in Spanish, German, and Portuguese coupled with her specialization in 1031 exchanges makes her, "your favorite realtor in the world," a strong force here at Carla Bonten Realty, Inc.

You can email Pamela at: pamela@carlabontenrealty.com

The Meeks Team
Cary Meeks, Realtor®
Gerry Meeks, Realtor®
November Sales Agents

Tax Strategies
by Nancy K. Reynolds, CPA*, CVA, CFE

Here are some brief updates that you need to be aware of for Tax Season. Knowing them can help you save time and put more money in your pocket…either now or in the long-run.

• New - for tax years that begin with 2004 and end in 2006, the Act allows taxpayers to take state and local general sales and use taxes as an itemized deduction. This is to replace state and local income taxes, and as you know, this is a bonus to Floridians since we don’t have state income tax. The sales tax can be deducted as the actual amount of tax paid or using published IRS tables.

• If you are over 50, you can contribute an extra $2,000 to your 401K this year.

• Use the government website www.first.gov to apply for student loans, social security benefits, IRS forms and publications. You can even obtain advice on starting a business there.

• A dependent child may not claim a deduction for education loan interest. Married taxpayers are required to file a joint return in order to claim the deduction.

• If you have someone else do your taxes, be prepared! You can save money by organizing and summarizing the information. This applies to businesses as well as individuals.

For more information:
Reynolds & Associates CPAs, P.A.
8955 Fontana Del Sol Way, Naples, Florida 34109
Telephone 239-593-6006
or email nreynolds@cpanaples.com

*CPA designation is regulated by the State of Florida

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Visit InvesterWords.com for the most comprehensive financial glossary on the web.

Visit the Yahoo Tax Center for financial and tax information as well as a glossary.

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HOME DÉCOR & MORE…

For those of you who like Florida-Style furnishings and décor but prefer and LOVE the hard-to-find European and Oriental styles, look no further. Madeline Unique Furnishings is now OPEN at Miromar Outlets in Estero, Florida.

They offer you selections of true antique to modern furnishings that are very Unique today. They’ve imported all their furnishings and décor from Europe, so you won’t be able to find these treasures just anywhere. Go out and see what Madeline Unique Furnishings and Miromar Outlets Mall can offer you 7-days a week. Happy Shopping!!

Area Real Estate News

Parade of Homes Tours

Feb 4-6, 11-13, 18-20, 2005, Gulfshore Life's Luxury Home Tour debuts, showcasing a dozen models priced at one million and more, with an admission fee that benefits charity. Information (239) 594-9980.

March 4-13, 2005, the Lee Building Industry Association will offer a parade of homes at locations throughout Lee County. Call (239)936-5525 for more details.

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AREA HAPPENINGS:

Art of Collecting Art
Exhibition and Reception
February 11, 2005
Location:
Art League of Bonita Springs' Center for the Arts Time: 6:00 PM
Cost: NA
Email: askalbs@artinusa.com
www.artcenterbonita.org
Phone: 239-495-8989

Why do people collect art? What do they collect? Why do they collect what they collect? This exhibition continues a tradition established with the first Grand Opening Exhibition of the Center for the Arts campus. Each year we celebrate both the individuality of the artist and the collector.

Objects collected from around the world—different centuries and different cultures. It is a wonderful opportunity to experience the sheer diversity of art. “This is truly a great opportunity for our community. We, as viewers, can stroll through and focus on not only great works of art from around the world, but also why people collect what they collect. How they acquired particular pieces. It’s just fascinating.” Susan Bridges, Executive Director.

This special exhibition will be on display February 10 - 24, 2005 at the Art League of Bonita Springs Center for the Arts, located at 26100 Old 41 Road, 1 mile north of Terry Street.

Book Signing and Reception
February 15, 2005
Location: Main Art League Gallery -
Art League of Bonita Springs' Center for the Arts
Email: askalbs@artinusa.com
www.artcenterbonita.org
Phone: 239-495-8989

Meet authors of the newly published, "Earth, Sea, Sky", Mary Ellen Jones and Dee Parker. Authors will discuss their book, collaborative process, and sign copies of their book of photographs and poetry.

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AREA ACTIVITIES & EVENTS:

The following events were taken from the Naples Daily News:

Evenings on Fifth, music and entertainment, 6:30 to 9:30 p.m. Feb. 10, up and down Fifth Avenue South; 435-3742.

Celebrate Estero with music and entertainment, 10 a.m. to 9 p.m. Feb. 12, Miromar Outlets, Corkscrew Road, Estero; (239) 948-3766. Free.

Orchid Show and Sale, 10 a.m. to 4 p.m. Feb. 12 and noon to 4 p.m. Feb. 13, Naples Botanical Garden, 4820 Bayshore Drive; 643-7275, ext. 12. $7, adults; $4, children, 6-12 and free, Naples Botanical Garden members.

Third Thursday on Third, music and entertainment presented by the Third Street South Merchants Association, 6 to 9 p.m. Feb. 17, Third Street South. 649-6707.

Crafts on the River, with over 100 exhibitors, 10 a.m. to 5 p.m. Feb. 18-19 and 10 a.m. to 4 p.m. Feb. 20, Centennial Park, Edwards Drive, Fort Myers; (239) 334-2999. Free.

Edison Festival of Light Fireworks, 5 p.m. entertainment by the U.S. Army Infantry Center Band; 7 p.m. fireworks, Feb. 19, Edison Stadium, Fort Myers High School, Fort Myers; (239) 334-3309. $15, reserved seating.

Edison Festival of Light Grand Parade, 7 p.m. Feb. 19, from Edwards Drive down Cleveland Avenue to Fort Myers High School Stadium, all in Fort Myers; (239) 334-2999. Free, but $7 reserved seating is available by calling: Boy Scout Troop 35, (239) 693-4650; Fort Myers Police Athletic League, (239) 693-1146; Boy Scout Troop 316, (239) 980-9735; Ruth Cooper Center, (239) 791-1576; Faith Assembly of God, (239) 543-2700; Harry Chapin Food Banks, (239) 334-7007; Fort Myers High School Music Department, (239) 334-1996; Guardian Angels for Special Populations, (239) 541-1195; or Dr. Piper Center for Social Services Inc., (239) 332-5346.

Home and Design Expo, 10 a.m. to 6 p.m. Feb. 22-23, Naples Beach Hotel & Golf Club, 851 Gulf Shore Blvd. N.; 272-5923. $10, two day pass.

Beach Festival for youths and teens, 9 a.m. to 5 p.m. Feb. 26 and 9 a.m. to 9 p.m. Feb. 27, Naples Pier, 25 12th Ave. S. and awards banquet at Fleischmann Park, 1300 Fleischmann Blvd. Events include fishing tournament, wind surfing demonstration, beach fashion show, volleyball tournament, kite boarding demonstration and other activities. 213-3022.

Naples Philharmonic Orchestra with conductor Clotilde Otranto presents "Isn't It Romantic?," 8 p.m. today, Wesley United Methodist Church, 350 Barfield Drive S., Marco Island; 597-1900. $25, adults; $10, students.

"The Pied Piper & Other Tales," performed by the Southwest Florida Symphony Children's Chorus, 7 p.m. Saturday, Faith Presbyterian Church, 4544 Coronado Parkway, Cape Coral and 3 p.m. Jan. 30 First United Methodist Church, 2466 First St., Fort Myers. $24, series of three or $12, individual tickets. Available at door or at (239) 418-1500.

Bluegrass, folk and American traditional music jam sessions, noon to 3 p.m. every Sunday, Flamingo Island Flea Market, 11902 Bonita Beach Road SE, Bonita Springs. Other players welcome. 948-7799 or (239) 405-0355.

AT THE PHIL IN FEBRUARY:

Here's what's happening at the The Phil - be sure to visit www.thephil.org for more information!

Matisse, Picasso & Friends: Impressionism to Surrealism. Masterworks of French Painting and Sculpture from The Baltimore Museum of Art. Friday, February 4 through Sunday, May 1. The centerpiece of the Naples Museum of Art’s fifth anniversary season will be Matisse, Picasso & Friends: Impressionism to Surrealism. This remarkable exhibition features 35 paintings and 14 sculptures by such masters as Henri Matisse, Pablo Picasso, Edgar Degas, Vincent Van Gogh, Paul Gauguin, Paul Cézanne, Auguste Rodin, Pierre Bonnard and others. Twenty-five of the works are from the world-famous Cone Collection. Matisse is the dominant presence, with eight paintings and four sculptures, including the 1917 masterpiece The Pewter Jug and Large Reclining Nude of 1935. Picasso is represented by the Blue Period painting Woman with Bangs (1902) and two other works.

Les Ballets de Monte-Carlo, Tuesday, 02/08/2005
8 p.m. People are still talking about Les Ballets de Monte-Carlo’s breathtaking performance of Romeo and Juliet here six years ago. At last, this revered ballet company, renowned for its distinctively modern interpretations of classical dance, returns to Naples, presenting three acclaimed dances: William Forsythe’s In the Middle, Somewhat Elevated, Jean-Christophe Maillot’s tour de force Vers Un Pays Sage and the Balcony Scene from Romeo and Juliet.

Marian McPartland Trio, Wednesday, 02/09/2005
8 p.m. A giant in the history of piano jazz, Marian McPartland is celebrated for her impeccable technique, intuitive harmonic style and natural warmth. For decades, McPartland has delighted audiences with her improvisational savvy, infusing everything she plays with charm, humor and intimacy. Her weekly National Public Radio show Piano Jazz! was called “the best hour of jazz on the airwaves” by The Washington Post. Winner of the 2000 Women in Jazz Award, for her lifetime contributions to jazz.

An Evening With Martin Short: Wednesday, 02/16/2005, 8 p.m. Martin Short, the Emmy Award-winning and Tony Award-winning comedian, will star in An Evening with Martin Short at the Philharmonic Center for the Arts on Wednesday, February 16 at 8 p.m. Short, known for his comedic and musical talents, versatility and improvisational genius, is a veteran stage, television and film actor. He has written, produced and starred in three highly acclaimed comedy specials for television, created a host of hilarious impressions while a cast member on Saturday Night Live and has starred in numerous films including Three Amigos, Inner Space, Mars Attacks and Father of the Bride. Short currently stars as Jiminy Glick in the hit series Primetime Glick on Comedy Central.

An Evening With Loretta Lynn: Friday, 02/18/2005, 8 p.m. An Evening with Loretta Lynn will feature the legendary performer Loretta Lynn in a very special concert at the Philharmonic Center. For over four decades, Loretta Lynn has been one of country’s modern pillars. A member of the Country Music Hall of Fame, Lynn was the first country entertainer to appear on the cover of Newsweek and the first woman named Entertainer of the Year by both the CMA and ACM. She has released 71 albums, 17 of which reached No. 1, and had 27 No. 1 singles. Her hits include Don’t Come Home A Drinkin’ (With Lovin’ On Your Mind), Fist City, You’re Lookin’ At Country, One’s On The Way, Your Squaw Is On The Warpath, The Pill, She’s Got You and Coal Miner’s Daughter.

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AT GERMAIN ARENA

THE BOSTON POPS - Keith Lockhart, Conductor
Tuesday, February 15, 2005 @ 8:00 PM
Regular Pricing for Tables : $1,400.00 & $1,200.00, Regular Pricing for Seats: $60.00, $40.00, & $30.00 - www.bostonpops.org

SMUCKER’S STARS ON ICE - “IMAGINATION”
Monday, February 21, 2005 @ 7:00 PM
Prices: $80, $55, $42, & $25 - www.starsonice.com

For tickets or more information, contact Ticketmaster at 334-3309 or go online to www.ticketmaster.com; for information on Germain Arena, 11000 Everblades Parkway, Estero, call 948-7825.

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Here's what's happening at the BBMPAC - be sure to visit www.bbmannpah.com for more information!

'Phantom' returns
Andrew Lloyd Webber's "The Phantom of the Opera" has been in local theaters for several weeks. Now the musical returns to the Mann Hall stage. This week's performances are at 7:30 p.m. Wednesday, Feb. 2; at 2 p.m. and 7:30 p.m. Thursday, Feb. 3. The show runs through Feb. 27. Tickets are $85, $80, $65, $60, $45 and $40. Barbara B. Mann Performing Arts Hall is located at 8099 College Parkway S.W. in south Fort Myers. Information: (239) 481-4849; (800) 440-7469 or www.bbmannpah.com.

For information about Barbara B. Mann Performing Arts Hall events, call (239) 481-4849; toll-free (800) 440-7469 or log onto www.bbmannpah.com. The hall is located at 8099 College Parkway S.W. in south Fort Myers.

More Area Activities

Walgreens Wellness Tour
Walgreens
28100 S. Tamiami Trail
Bonita Springs, FL

Description: The Walgreens Wellness Tour, a traveling education and health-screening vehicle, brings free screening services and better health awareness to local communities. Each visitor is invited to take all five screenings, which are worth more than $100 in value. All screenings take place inside the vehicle. Screenings include bone density, total cholesterol, glucose, blood pressure and body mass index screening
Fees: free
Date(s): 2/6/2005 - 2/6/2005
Time(s): 11 a.m.-5 p.m.
Contact Info: (866) 484-8687

Caribbean Gardens: The Zoo in Naples
1590 Goodlette Road
Naples, FL

Description: Luis Sottil Earth Angels project to benefit The Zoo in Naples features Tampico cocktails, music, and wild animal encounters. Raffle tickets for an original painting by Luis Sottil, "Royal Dominance," are available at $25 each or five for $100
Fees: free admission
Date(s): 2/12/2005 - 2/12/2005
Time(s): 6-9 p.m.
Contact Info: 213-1761

Sweet Charities
The Promenade at Bonita Bay
26795 South Bay Drive
Bonita Springs, FL

Description: More than a dozen area charities will be showcased during the third annual "Sweet Charities" day along with entertainment, games and contests, and silent auctions
Date(s): 2/12/2005 - 2/12/2005
Time(s): 11 a.m.-3 p.m.
Contact Info: 403-3722

Stars on Valentine's Day
Calusa Nature Center and Planetarium
3450 Ortiz Ave.
Fort Myers, FL

Description: A 30-minute program of celestial love stories for Valentines Day in the planetarium followed by a brief sky tour. There will be desserts from Mason's Bakery. Register and pre-pay by Feb. 11
Fees: $25 per couple, $15 for singles, $10 for children
Date(s): 2/11/2005 - 2/14/2005
Time(s): 7 p.m.
Contact Info: 275-3435 to register

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Need an idea of what dining experiences are in our area? Click here for a list of some of the best! You can also visit www.bonitamenus.com for select restaurant menus online!