Greg Snow - Southwest Florida Real Estate Expert provides real estate services to Cape Coral, Fort Myers, Sanibel and Captiva Islands

 One of our great destination hot spots in southwest Florida Lee County is Bonita Springs and recently it has garnered news in a not so positive fashion. My brother Dan, has a wonderful Italian restaurant, Futuro's, on Bonita Beach Road, where beryone raves about the food, especially the Philly cheesesteak and the pizza's. Our local newspaper, www.news-press.com, had a story about the late James Bernet's empire of commerical properties going on the market for a $61.2 million dollars in a stale real estate market. Included in the almost 300,000 square feet of office, retail, and warehouse space is the First Florida Bank, along with the Bernwood Shoppes, and Bernwood Design Center. With a vacany rate climbing from 7% in 2007 to over 35% today, it's gonna take a special person(s) to want to pull the trigger on parts if not all of this offering.

 Door number two: The Bonita Bay Group has been told by it's lenders to get rid of the money losing clubs, along with the five golf courses, or else. Difficulty with paying off $120 million line of credit will get anyone's undivide attention. Current membes quarterly dues must be paid by July 1st or all club operations will probably be suspended soon after. Somewhere between 30-35% of the Bonita Bay membership use the club year-round. Many members are upset, and are asking for ownership based on $54 million in deposits already contributed. Stay tuned as one of our area's real estate success stories heads for bankruptcy, the courts, and hard feelings by the residents in these communities. It will be very difficult to buy or sell in any of these properties: Sandoval, Verandah, Twin Eagles, Mediterra, Shadow Wood, or Bonita bay.