Two furnished models are currently on hand to tour. The first design, The Aragon, is a luxurious 3,100 square-foot single-story home featuring a deluxe master bedroom suite, 2 guest bedrooms with ensuite bath, a study, a great room with broad architectural details, a formal dining room, and a breakfast nook. The second furnished tour model, The Saranac, is a 3 bedroom, 2 1/2 bath, 2,500 square-foot home with built in wet-bar, dining area, and lake view breakfast area. All told, buyers will have the choice of 11 single and two-story home designs ranging in size from just over 2,000 square feet to 4,300 square feet of luxurious air conditioned living.

When Bonita Lakes is completed, it will consist of 268 homes on 120 acres of beautifully landscaped Florida property, with convenient access to shopping (Coconut Point Mall, Gulf Coast Town Center, and Miromar Outlets are in close proximity), and golfing (Highland Woods, Quail West Golf Country Club, and Shadow Wood Country Club are just around the corner). With prices starting in the low $300,000s and getting as high as the mid to high $500,000s, you can expect the community amenities to be top notch. The design plans include a clubhouse with swimming pool, a state of the art fitness center, and tennis courts.

Featuring grand stairways, colonnades, elaborate ironwork, palatial interiors, and brilliant sea views from each of its four bedrooms, this grandiose tropical paradise is heaven on earth. In addition to the primary mansion, there are two cottages, private guest quarters, tennis courts, a wet bar, a pool, nature trails, a museum, its own waterfall, koi pond, and nearly 4 miles of pristine oceanfront shoreline in one of Florida's best fishing locals. It's even got a gigantic banyan tree, planted by none other than Thomas Alva Edison, a friend of Burgess, the original owner.

So how much does this taste of the good life cost? How much to experience a lifestyle only the rich and famous typically enjoy? How much to have the perfect backdrop to coerce your 5 year old nephew into pointing at the horizon and exclaiming, “Boss! De plane, de plane!”?

$29.5 million big ones, thats how much.

Current owners Tom and Elizabeth Munz purchased the house and acreage in 1989 for $1.5 million, which when you consider the current price point, seems like an awfully large markup. The reason? Mr. and Mrs. Munz spent nearly a decade developing the island with utilities like electricity from mainland Florida, a reverse osmosis water plant, back-up generators, and piles of paperwork for geological and environmental surveys needed to acquire the building permits for 29 large waterfront lots, each valued at about $2 million apiece. The price, it would seem, doesn't reflect the value of the current real estate as much as the potential profits from the 29 luxury waterfront properties. An added bonus is the fact that the area surrounding Little Bokeelia Island is state and privately owned land that due to environmental and geological reasons can never be developed, ensuring your view is as lush and green in 20 years as the day you bought it.

The recovery in the housing market is seen to be linked to these positive developments in the industrial real estate market, akin to the widely recognized connection between hikes in employment rates and subsequent gains in real estate sales. Home prices statewide have increased, with southwest Florida home values shooting up 8 percent, greatly surpassing the national average of only 1.3 percent this past quarter. Supply, or lack thereof, of southwest Florida homes for sale is seen as one of the reasons for the fluctuation, but the supply constraints don't seem to be deterring potential buyers.

Home and condo sales in Sarasota and Manatee counties recorded 928 sales this September, an 11 percent increase over the same time last year. Laura Benson, president of the Sarasota Association of Realtors told the Herald Tribune, "The real estate industry has returned to a much healthier place than we were four or five years ago. For the agents who experienced the down times, this has become a great period of rebound." Even Lawrence Yun, chief economist for the National Association of Realtors had a positive outlook on the southwest Florida real estate market, saying, "Despite occasional month-to-month setbacks, we're experiencing a genuine recovery."

Bonita Springs Real Estate Sales Data

• Total Sales of 949 versus 1,044 in 2011 - down 9%.
• 485 Homes Sold versus 518 in 2011 - down 6%.
• Average Sales Price for Homes - $445,110 - up 8.5%.
• Median Sales Price for Homes - $271,000 - up 1.5%.
• Average Days on Market for Homes was 121 versus 172 in 2012 - down 30%.
• 464 Condos Sold versus 524 in 2011 - down 11.5%.
• Average Sales Price for Condos - $287,124 - up 5%.
• Median Sales Price for Condos - $207,750 - up 7.7%.
• Average Days on Market for Condos was 179 versus 189 in 2012 - down 5%.

At the end of the June, there were 1,037 active residential properties on the market. That's a decrease of 17% versus the end of last year. Of those, only 23 were listed as foreclosures and 52 as a short sale. There are 307 properties that are currently under contract and pending sale.

Bonita Springs Closed Property Sales 2010 - 2012

After three consecutive years of overall recording breaking sales, a pullback was not to be unexpected. A lot of the decrease has to do with the drop in inventory. Things are fairly slim in the market, especially on the lower end. It is also helping to push prices higher. Not dramatically, but enough that it is beginning to make a difference.

Sales Statistics Compiled from BEAR and NABOR MLS. Data is thought to be reliable but is not guaranteed to be accurate.

Luxury Florida Property Sales $1 Million - $2 Million

• Total Sales of 527 versus 463 in 2010 - up 14%.
• 315 Homes Sold versus 302 in 2010 - up 4%.
• Average Sales Price for Homes - $1,375,226 - down 0.1%
• Median Sales Price for Homes - $1,350,000 - up 4%.
• Average Days on Market for Homes was 253 versus 260 in 2010.
• 221 Condos Sold versus 161 in 2010 - up 37%.
• Average Sales Price for Condos - $1,381,157 - down 0.6%
• Median Sales Price for Condos - $1,300,000 - down 6%.
• Average Days on Market for Condos was 272 versus 257 in 2010.

Luxury Florida Closed Sales ($1 Million - $2 Million) 2008 - 2011

Luxury Florida Property Sales $2 Million - $5 Million

• Total Sales of 222 versus 186 in 2010 - up 19%.
• 160 Homes Sold versus 137 in 2010 - up 17%.
• Average Sales Price for Homes - $2,930,442 - down 1%
• Median Sales Price for Homes - $2,750,000 - up 3%.
• Average Days on Market for Homes was 283 versus 267 in 2010.
• 62 Condos Sold vs 49 in 2010 - up 27%.
• Average Sales Price for Condos - $2,983,827 - up 6%
• Median Sales Price for Condos - $2,700,000 - up 1%.
• Average Days on Market for Condos was 243 versus 334 in 2010.

Luxury Florida Closed Sales ($2 Million - $5 Million) 2008 - 2011

Luxury Florida Property Sales $5 Million & Above

• Total Sales of 32 versus 32 in 2010 - Unchanged.
• 29 Homes Sold versus 29 in 2010 - Unchanged.
• 3 Condos Sold versus 3 in 2010 - Unchanged.
• Average Sales Price - $8,707,109 - up 4%
• Median Sales Price for Homes - $6,873,750 - up 6%.
• Average Days on Market for Homes was 265 versus 320 in 2010.

Luxury Florida Closed Sales ($5 Million & Above) 2008 - 2011

While the sales numbers are encouraging, it's still important to understand most luxury real estate in Florida is located on some of the most prized property available. Hence, the pricing. You don't just give away oceanfront estates, island getaways or high rise condominiums with views to die for just because the rest of the market has hit hard times. In addition, folks who are wealthy enough to afford such properties in the first place are also wealthy enough to carry them as they weather the market downturn. So, the bottom line is you still "gotta pay to play" when it comes to luxury property here in paradise.

*Sales Statistics Data from BEAR and NABOR MLS

While some states moved up and others down, Florida has remained very steady for eight years in a row. A key factor in Florida's ranking is the lack of a state personal income tax. In addition, Florida also ranked 12th in corporate taxes, 19th in sales taxes, 5th in unemployment compensation taxes and 24th in real estate taxes.

The 10 Top ranked states:

• Wyoming
• South Dakota
• Nevada
• Alaska
• Florida
• New Hampshire
• Washington
• Montana
• Texas
• Utah

The 10 Bottom ranked states:

• Iowa
• Maryland
• Wisconsin
• North Carolina
• Minnesota
• Rhode Island
• Vermont
• California
• New York
• New Jersey

The Tax Foundation has monitored tax policy since 1937. A copy of the latest report is available at 2012 State Business Tax Climate Index.

Captiva and Sanibel Islands are two of the most sought after destinations in all of Southwest Florida. Everything you could wish for from sunning, shelling, wave running, fishing, sailing, or just relaxing are available and most of it is just minutes away from anywhere you are located. Both markets offer many home choices that are just terrific; seaside condominiums, Gulf front mansions, old restored Florida cottages. Essentially, almost any type of property you can imagine. And, once you find just the right place, youll quickly come to understand, a Sanibel or Captiva Island home is a destination, a refuge, and a way of life unique unto its own.

Sanibel Real Estate Sales Data

• Total Sales of 250 versus 211 in 2010 - up 19%.
• 141 Homes Sold versus 110 in 2010 - up 28%.
• Average Sales Price for Homes - $782,662 - up 5%
• Median Sales Price for Homes - $575,000 - down 7%.
• Average Days on Market for Homes was 274 versus 251 in 2010.
• 109 Condos Sold versus 101 in 2010 - up 8%.
• Average Sales Price for Condos - $613,776 - down 1%
• Median Sales Price for Condos - $535,000 - up 1%.
• Average Days on Market for Condos was 279 versus 322 in 2010.

At the end of the December, there were 408 active residential properties listed in the Fort Myers MLS. That's a decrease of 18% versus this time last year.

Sanibel Island Closed Property Sales 2009 - 2011

Captiva Real Estate Sales Data

• Total Sales of 46 versus 24 in 2010 - up 16%.
• 30 Homes Sold versus 14 in 2010 - up 114%.
• Average Sales Price for Homes - $1,180,914 - up 20%
• Median Sales Price for Homes - $748,750 - up 14%.
• Average Days on Market for Homes was 256 versus 217 in 2010.
• 16 Condos Sold versus 10 in 2010 - up 60%.
• Average Sales Price for Condos - $641,006 - up 2%
• Median Sales Price for Condos - $590,000 - down 13%.
• Average Days on Market for Condos was 374 versus 350 in 2010.

At the end of the December, there were 110 active residential properties listed in the Fort Myers MLS. That's a decrease of 18% versus this time last year.

Captiva Island Closed Property Sales 2009 - 2011

As we head into the 2012 season, the data shows prices are rising and the inventory continues to fall. The bottom line is you need to be prepared for having less choice when it comes to purchasing a home or condo this season. And, in all likelihood, you're going to pay a little more for it this year too.

*Sales Statistics Data from FMLS

Fort Myers Beach is the "happening" locale on Southwest Florida's Lee Island Coast. The Beach offers every amenity you can imagine-from seven miles of wide sandy beaches, golf, boating, fishing and more than anything else - relaxing. The Beach is definitely eclectic and diverse; it draws visitors from all over the world and you'll find all sorts of folks from generations of families to Easter Break kids. There's nothing else quite like it anywhere in Southwest Florida.

Fort Myers Beach Real Estate Sales Data

• Total Sales of 360 versus 309 in 2010 - up 16%.
• 113 Homes Sold versus 99 in 2010 - up 11%.
• Average Sales Price for Homes - $445,386 - up 10%
• Median Sales Price for Homes - $320,000 - down 3%.
• Average Days on Market for Homes was 169 versus 157 in 2010.
• 247 Condos Sold versus 210 in 2010 - up 18%.
• Average Sales Price for Condos - $333,711 - up 3%
• Median Sales Price for Condos - $275,000 - down 7%.
• Average Days on Market for Condos was 184 versus 178 in 2010.

At the end of the December, there were 472 active residential properties listed in the Fort Myers MLS. That's a decrease of 18% versus this time last year.

Fort Myers Beach Closed Property Sales 2009 - 2011

As we head into the 2012 season, the data shows prices are rising and the inventory continues to fall. Having had back to back to back top sales years (2009, 10 & 11) in the areas history is truly quite astonishing in this market climate. The bottom line is you need to be prepared for having less choice when it comes to purchasing a home or condo this season. And, in all likelihood, you're going to pay a little more for it this year too.

*Sales Statistics Data from FMLS

Cape Coral, known as "The Cape," is a boater's and fisherman's paradise and offers almost 200 miles of salt water canals with Gulf access. It is the 3rd largest city in Florida in terms of land mass with nearly 115 square miles of residential and commercial space. Over 55% of its population is under 44, so the city is family oriented, schools are important, and the quality of life is exceptional.

Cape Coral Real Estate Sales Data

• Total Sales of 5,943 versus 6,491 in 2010 - down 9%.
• 5,348 Homes Sold versus 5,988 in 2010 - down 12%.
• Average Sales Price for Homes - $142,504 - up 10%
• Median Sales Price for Homes - $104,225 - up 10%.
• Average Days on Market for Homes was 85 versus 149 in 2010.
• 595 Condos Sold versus 503 in 2010 - up 18%.
• Average Sales Price for Condos - $120,610 - up 27%
• Median Sales Price for Condos - $82,500 - up 9%.
• Average Days on Market for Condos was 102 versus 128 in 2010.

At the end of the December, there were 1,760 active residential properties listed in the Cape Coral MLS. That's a decrease of 23% versus this time last year.

Cape Coral Closed Property Sales 2009 - 2011

Fort Myers is called the "City of Palms." It is a metropolis bustling with historical, cultural, and ecological attractions and is now a blend of both young and old alike. The city sits along the natural splendor and shoreline of the Caloosahatchee River and is nestled around the historic downtown city center.

Fort Myers Real Estate Sales Data

• Total Sales of 4,360 versus 4,263 in 2010 - up 2%.
• 2,273 Homes Sold versus 2,087 in 2010 - up 7%.
• Average Sales Price for Homes - $218,353 - up 6%
• Median Sales Price for Homes - $163,000 - up 4%.
• Average Days on Market for Homes was 105 versus 101 in 2010.
• 2,087 Condos Sold versus 2,176 in 2010 - down 4%.
• Average Sales Price for Condos - $121,517 - up 10%
• Median Sales Price for Condos - $99,000 - up 10%.
• Average Days on Market for Condos was 104 versus 103 in 2010.

At the end of the December, there were 2,364 active residential properties listed in the Fort Myers MLS. That's a decrease of 31% versus this time last year.

Fort Myers Closed Property Sales 2009 - 2011

As we head into the 2012 season here in Southwest Florida, the data shows prices are rising and the inventory continues to fall. And, while overall sales were down slightly in 2011, it still was one of the top three sales years (2009, 10 & 11) in the area's history. The bottom line is you need to be prepared for having less choice when it comes to purchasing a home or condo this season. And, in all likelihood, you're going to pay a little more for it this year too.

*Sales Statistics Data from FMLS

Bonita Springs is quickly emerging as one of the most dynamic coastal communities within all of Southwest Florida. Known as the "Gateway to the Gulf", the city features numerous picture postcard perfect beaches, charming neighborhoods, and championship golf courses, all enticing you to want to stay forever.

Bonita Springs Real Estate Sales Data

• Total Sales of 1,627 versus 1,452 in 2010 - up 12%.
• 826 Homes Sold versus 748 in 2010 - up 10%.
• Average Sales Price for Homes - $387,032 - down 1.5%
• Median Sales Price for Homes - $255,600 - up 5%.
• Average Days on Market for Homes was 170 versus 162 in 2010.
• 801 Condos Sold versus 704 in 2010 - up 14%.
• Average Sales Price for Condos - $249,943 - up 14%
• Median Sales Price for Condos - $182,100 - up 6%.
• Average Days on Market for Condos was 184 versus 198 in 2010.

At the end of the December, there were 1,249 active residential properties listed in the Bonita Springs MLS. That's a decrease of 14% versus this time last year.

Bonita Springs Closed Property Sales 2009 - 2011

Naples is a truly cosmopolitan, quaint, and cultural city. The pace in is slower; the shopping exquisite and the dining is an experience you'll not want to miss. Through in the pristine beaches and you can easily see why it is the "Crown Jewel" of the Southwest Florida gulf coast.

Naples Real Estate Sales Data

• Total Sales of 8,155 versus 7,798 in 2010 - up 5%.
• 4,351 Homes Sold versus 4,258 in 2010 - up 2%.
• Average Sales Price for Homes - $449,449 - up 1.5%
• Median Sales Price for Homes - $203,500 - down 3.5%.
• Average Days on Market for Homes was 164 versus 173 in 2010.
• 3,804 Condos Sold versus 3,540 in 2010 - up 7.5%.
• Average Sales Price for Condos - $305,614 - up 7%
• Median Sales Price for Condos - $151,225 - up 1%.
• Average Days on Market for Condos was 183 versus 177 in 2010.

At the end of the December, there were 7,625 active residential properties listed in the Naples MLS. That's a decrease of 19% versus this time last year.

Naples Closed Property Sales 2009 - 2011

As we head into the 2012 season here in Southwest Florida, the data shows prices are rising and inventory is falling. Having had back to back to back top sales years (2009, 10 & 11) in the areas history really culled the inventory overload. The bottom line is you'll need to be prepared for having less choice when it comes to purchasing a home or condo this season. And, in all likelihood, you're going to pay a little more for it too.

*Sales Statistics Data from BEAR and NABOR MLS