chrisgriffith on January 25th, 2012

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Mortgages, Divorce, Refinance and Quit Claim Deeds

A couple of great mortgage questions have come in over the last few weeks …

Question: We’re considering selling our place and purchasing another and we would like to do back to back closings. Is this something that can be done?

Not everyone can pay cash for real estate and there are consumers taking advantage of the great prices to move around or upsize. Much like stacking rows of dominos, counting on one closing to fund the next closing is a tricky position to get into. Besides a home owner having to sell one to get into the next home, there are circumstances where the actual buyer of your home must close sale on the home they live in to be able to purchase your home, you must close sale on the home you live in to be able to close your own new home purchase.

There are one hundred and one possible ways that back to back closings can go haywire. They can also go well, but it really takes some homework and investigation of the contracts and mortgages involved in each transaction in the long line of dominos. Plus, even as careful and thorough as everyone can be, things can still go wrong; last minute underwriting issues, a lender decides not to fund mortgages in the state of Florida, one of the borrowers loses their job in the process, one of the borrowers financed another big ticket item and no longer qualifies for the mortgage, if it’s a condo and the condo questionnaire goes hinkey. The list of last minute surprises can go on.

Like I said, the situation is tricky and you most seriously need to have an experience real estate agent and very good mortgage broker who understand your situation inside and out or you could end up wondering where you’re going to sleep and where to park that moving truck full of your possessions.

Question: Is it possible to finance the down payment or closing costs for a home purchase?

The short answer is there are a few mortgages available where this is possible, but it’s not possible with all mortgages. The long answer is you need a superb mortgage broker who can direct you to the proper mortgage product and determine whether the property you’re interested in qualifies for that particular type of mortgage. There are a few mortgage products which may allow you to roll in the closing costs as long as the purchase price, which may include a sum or percentage for fees, is supported by the appraisal.

Question: We’re breaking up and my spouse would like to keep the house and has asked me to sign a quit claim deed to get my name off of the house. Is it really as simple as filing this new deed with the clerk’s office?

Call a real estate attorney before you sign a anything. I’d guess that the first question an attorney will ask you is if there a mortgage on this home and is the spouse also refinancing to take you off of the mortgage? If not, you could be relinquishing ownership of the home by signing the quit claim deed but still be responsible for the mortgage. Not only financially responsible for that mortgage but also jeopardizing your ability to qualify for other large purchase down the road, like a new car or another home because the debt from “the quit claimed home” shows on your credit report. It’s worth seeking professional legal advice to make sure you’re doing the right thing and not making a poor financial decision in haste.

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Real Life in Bonita Springs is a project by Chris Griffith dedicated to writing useful blog posts for consumers about the Bonita Springs, Florida area.  Find out what it is really like to live in Bonita Springs, Florida by reading about our fair city. You’ll get the latest in local real estate information, Bonita Springs real estate market reports and a little bit of humor.  If you have topic ideas, feel free to request a story about the idea, after all, this site is just for you.

You can subscribe to a weekly email newsletter by visiting www.LifeInBonitaSprings.com and entering your email in the subscription area on the center pane of the web page or by adding us to your reader by subscribing to this blog. Oh, and if you’re reading this content anywhere else but www.LifeInBonitaSprings.com or Naples Daily News it is probably stolen.

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chrisgriffith on January 18th, 2012

 

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Selling Your Bonita Springs Home – Remove Dated Decor

There isn’t a more magical time of the year than Christmas, uh, “the holidays”. A good portion of the masses deck their halls and don their lights with gay apparel as early as, well, before Thanksgiving now. I think it was a little about two weeks before Thanksgiving that I forever deprogrammed a radio station in my car which made the mistake of trying to make me choke down “rum pum pum pum” before I had even guilted my children into buying the turkey and pulling out the pilgrim salt and pepper shakers.

With the festivities weeks behind us I’ve notice while, showing properties in the area, twinkle lights hanging lifelessly from the eaves of homes, blowing in the wind. Just to be clear, I have nothing against Christmas or twinkle lights, I’m not profiling. It’s just that there is a time and place for everything and the time for 2011 twinkle lights has passed; rest their tiny, lifeless souls.

Post-holiday twinkle lights represent the passing of the season and all the commercial possibilities promised to the American consumer such as the toys that blessed children asked Santa for, which then came without batteries to run them and the gifts of mediocrity, guaranteed to be re-gifted next year.

I’d reckon that if the proper tests and surveys were performed, twinkle lights should legitimately have about the same decorative shelf life as hurricane window tape; counting the days from installation a few days before the event, the day of the event, seven to ten days after the event, then removal.

Partly, I’m joking about the hurricane tape on windows. Tape never looks good in season or out of season. The twinkle lights quite possibly brought joy to children at least once. The magical storm resistant tape had no business being used to begin with and it does not work.

At the risk of upsetting a late-tape-taker-downer, I’m sorry but you wasted tape and you’re probably lucky to be alive and now your windows look like crap. You would have been wise to have field tested your windstorm safety plan by taking a roll of the tape of your choice, scotch, masking or duct tape and tape a big X across your chest and stand in the middle of flying debris to measure out how well the tape protected your person from flying roof tiles and lawn chairs.

Tape doesn’t work. Your homeowner’s insurance company would offer you a hurricane tape discount if it did and 3M would be crushing the Florida market in tape sales.

The Coup de grâce of expired exterior home décor would be the twofer of expired twinkle lights and tape window X’s but that leprechaun probably doesn’t exist. Probably. Send pictures if you’ve seen it.

All in fun and just a way to remind some of you folks know that if you listed your home or condo for sale sometime around Thanksgiving or after and you’ve not sold your real estate, you may now take down your lights and ask your agent for new marketing pictures to be taken … and probably reconsider that price reduction.

Digital holiday cheer is the gift that keeps on giving the whole year through and there’s nothing that screams “my real estate has been on the market since Christmas” more than a Christmas décor rolling through the visuals. Don’t let your home become a senseless casualty of the twinkle lights.

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Real Life in Bonita Springs is a project by Chris Griffith dedicated to writing useful blog posts for consumers about the Bonita Springs, Florida area.  Find out what it is really like to live in Bonita Springs, Florida by reading about our fair city. You’ll get the latest in local real estate information, Bonita Springs real estate market reports and a little bit of humor.  If you have topic ideas, feel free to request a story about the idea, after all, this site is just for you.

You can subscribe to a weekly email newsletter by visiting www.LifeInBonitaSprings.com and entering your email in the subscription area on the center pane of the web page or by adding us to your reader by subscribing to this blog. Oh, and if you’re reading this content anywhere else but www.LifeInBonitaSprings.com or Naples Daily News it is probably stolen.

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Bonita Estero What Price Range Selling December 2011

What Price Range of Real Estate is Selling?

2011 went out with a bang!  We have lift off of Bonita Springs home sales in the $400K price range and up.  Tourist season came back and so did all of the Bonita Springs home shoppers looking for bargains.  It’s been a while since the $400K and under price point dipped below the seventy percentile rate.  That price point had to give way sooner or later as the real estate inventory has sold off like gang busters this year.  You can compare this and many other market graphs by visiting the archives of the Bonita Springs real estate market reports.

Enjoy these other December 2011 Real Estate Market Reports:

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All information is deem accurate, not guaranteed and subject to change.  Check the date on this report for freshness.  If you have questions regarding your particular neighborhood, your street or your home specifically you’re welcome to contact us for a current market report. Real estate consumers that read this website are urged to seek independent, professional legal, real estate and financial advice before engaging in any transaction. All information is deemed, accurate, subject to change and not guaranteed.

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chrisgriffith on January 17th, 2012

Ten Years of December Sales  Bonita Estero 2011

The History of Bonita Springs Home Sales

Ever wonder if “that many” home sales is either good or bad?  How much real estate is selling in Bonita Springs? How many homes and condos sold in Bonita Springs last year?  Here is a whole decade of Bonita Springs home sales (and condos and I tossed in Estero home sales, too).  You can see we’re at about 2003 levels of real estate inventory.

Prices are down but we’re selling homes!  We’re at a balanced real estate market in many price points and neighborhoods.

Enjoy these additional December 2011 real estate market reports:

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All information is deem accurate, not guaranteed and subject to change.  Check the date on this report for freshness.  If you have questions regarding your particular neighborhood, your street or your home specifically you’re welcome to contact us for a current market report. Real estate consumers that read this website are urged to seek independent, professional legal, real estate and financial advice before engaging in any transaction. All information is deemed, accurate, subject to change and not guaranteed.

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Bonita Estero Foreclosure Short Equity December 2011

Bonita Springs Homes and Bonita Springs Condo Sales

Like my friend Debbie in Tallahassee would say, Daggummit!  I did this research a week ago and forgot to post and share it with you!  So here you go … the results of the condition of the sales of Bonita Springs homes and condos when they sold in December 2011.

If you’ve been curious about how many foreclosures are really in the Bonita Springs and Estero Florida areas, here’s the answer.    Equity sales of homes in Bonita Springs and Estero which are not considered a short sale or a foreclosure

The properties included in this research are all residential real estate sales in Bonita Springs and Estero, Florida, all structure types from manufactured homes, to luxury tower residences.

Read more December 2011 real estate market reports here:

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All information is deem accurate, not guaranteed and subject to change.  Check the date on this report for freshness.  If you have questions regarding your particular neighborhood, your street or your home specifically you’re welcome to contact us for a current market report. Real estate consumers that read this website are urged to seek independent, professional legal, real estate and financial advice before engaging in any transaction. All information is deemed, accurate, subject to change and not guaranteed.

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chrisgriffith on January 11th, 2012

Cows

Real Estate Lead Capture

Maybe you’re curious about what your home is worth or you’re a serious buyer prowling the web for the latest new listings or price reductions in the area you want to buy a home in, sooner or later a pop up window will ask for more information. Whether you’re a buyer or a seller, getting free information online is probably one of the newest exercises in tolerance.

A home seller called me out of the blue to ask for information about selling their real estate, what the level of standing inventory was and what the probability of selling their condo was. The next question was why it is so hard to get info without “selling their soul” because so many websites require registration before consumers can get to the data or the balance of the restricted data.

Whether you’re buying an airline ticket, real estate or a custom Paul Jr. Designs chopper, there’s someone out there gaming the internet trying to make sure you click their web link first. As a consumer, it may have never occurred to you that there are web placement gamers who pay to be in ads and some pay to have better ranking websites which show up for the search terms specific to what you’ve searched for.

With the great advances of technology and searching for information on the internet comes the opportunity of generating information to make a little scratch, especially when it comes to real estate.

The field is wide open for “lead capture” when it comes to real estate. Yes, a good portion of the websites out there have now sized you, the consumer, up as a lead and not a person. Odds are that you can perform a search for “your city real estate” and the majority of the query shown in the top ten search engine results are mostly “helpful” websites that will ask you for more info so they can sell your information.

It’s not that difficult a task. A middle school student in Boise could create a mediocre website or pay per click ad campaign that focuses on Bonita Springs real estate or Naples real estate and either make money off of ad clicks or collect data to sell later. It’s all about the Benjamins.

What’s more is that there are the recognizable, so called “helpful” brand named real estate websites that appear to selflessly offer their assistance to consumers for a free home valuation only to gather your data to sell to the premium, subscribing real estate agents. Those same websites market to real estate agents with the promise of $X per month for the leads in a city or zip code. You, the consumer, are the lead and thought of with about the same regard as cattle in a herd.

It’s a challenge to get information out there unless you carefully search for a site that doesn’t need to know your blood type before you proceed. There are websites offering information which don’t always require registration or if registration is required, it’s disclosed that your data isn’t being mined and that your email address is simply a means to for automated updates on the saved searches you’ve created.

So if Jo Blow from Kokomo calls or emails you after you registered on a random website, now you know how they got your info.

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Real Life in Bonita Springs is a project by Chris Griffith dedicated to writing useful blog posts for consumers about the Bonita Springs, Florida area.  Find out what it is really like to live in Bonita Springs, Florida by reading about our fair city. You’ll get the latest in local real estate information, Bonita Springs real estate market reports and a little bit of humor.  If you have topic ideas, feel free to request a story about the idea, after all, this site is just for you.

You can subscribe to a weekly email newsletter by visiting www.LifeInBonitaSprings.com and entering your email in the subscription area on the center pane of the web page or by adding us to your reader by subscribing to this blog. Oh, and if you’re reading this content anywhere else but www.LifeInBonitaSprings.com or Naples Daily News it is probably stolen.

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chrisgriffith on January 3rd, 2012

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Real Estate Photograph Fails

It’s a no brainer that pictures sell real estate, especially in the digital age. What is surprising is that there are still so many homes skating by or even floundering in the real estate market without proper or, at the very least, a weak representation of its unique characteristics whether they’re good or bad … and there are still some of them out there with “issues”.

There’s always been a question of whether using photos where major items are photoshopped into or out of existence regarding a home’s features is the right thing to do. The possibilities are endless with the photo editing technology available to anyone who cares to invest in the software.

I’ve seen several homes advertised with recycle old photos of homes before it was gutted or craigslisted by the former foreclosed home owner. “These photos are representative of how the home could look” is sometimes tucked away in the private remarks section of the report.

There isn’t a picture of the present condition but pictures of the possibilities one might enjoy if a fat wad of cash was dumped on top of the listed price. There are probably a few homes in the multiple listing service right now showing the potential of the home but not the fact that there is little left in it; no cabinets, no doors, no appliances.

It’s not fair to consumers who might want to know that sort of thing before they load up and waste their time seeing it if they’re not in the financial position or mind set to massively overhaul what remains of the structure.

I previewed a villa not long ago that had been completely looted. The front door was even gone, plywood on hinges in place and bare wires where coach lamps used to be. The only remaining item in the interior was a strip of tile on the kitchen wall where the back splash was. It was being marketed with “possibility pictures”.

A more truthful solution could be to show the actual condition of the interior and either shuffle the other images into the photo lineup or included them in the visual tour, along with the current photos of the home and the amenities and features of the community.

There are people who are actually looking for these sorts of warts and all projects so it would seem that it might be a good idea to market to them and not the people who don’t understand that mentioning “needs TLC” yet presenting a picture of granite tops and stainless appliances is, uh, not what they’re going to be getting.

The possibilities are endless for any property. There’s hope for my own home which could look just like Diane Keaton’s home as laid out in all its 1920’s, Hollywood splendor in Architectural Digest. I suppose it would be wrong for me to scan Diane’s pictures and add them to my marketing plan because my home technically “could” look like that, right? Everyone is allowed to dream.

It’s great to dream and also help consumers imagine the possibilities when looking at real estate. It just that when the dream version of a home is so far off from the reality of its current condition, maybe be part of the dream marketing plan should also be complete set of blue prints and detailed estimates for the services, labor and supplies it will take to make it look like the pictures.

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Real Life in Bonita Springs is a project by Chris Griffith dedicated to writing useful blog posts for consumers about the Bonita Springs, Florida area.  Find out what it is really like to live in Bonita Springs, Florida by reading about our fair city. You’ll get the latest in local real estate information, Bonita Springs real estate market reports and a little bit of humor.  If you have topic ideas, feel free to request a story about the idea, after all, this site is just for you.

You can subscribe to a weekly email newsletter by visiting www.LifeInBonitaSprings.com and entering your email in the subscription area on the center pane of the web page or by adding us to your reader by subscribing to this blog. Oh, and if you’re reading this content anywhere else but www.LifeInBonitaSprings.com or Naples Daily News it is probably stolen.

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chrisgriffith on December 27th, 2011

Free Things to Do in Bonita Springs Estero

When:  Saturday, December 31, 2011 at 10:00am until Sunday, January 1, 2012 at 5:00p.m.

Where: Coconut Point, 23130 Fashion Drive, Estero, FL

Description: Ring in the New Year with us at the Coconut Point Art Festival at Coconut Point Mall in Estero, Florida, just north of Bonita Springs, Florida on US 41/Tamiami Trail.  Featuring the finest artists in the country and a vast array of quality handmade art appealing to a variety of tastes and budgets.  Admission is Free and Open to the Public.

Festival goers will be able to comfortably stroll among the spacious isles of gallery style booths located on the parking fields of Coconut Point and explore the original art on display and for sale! Artists will be on site to discuss their art.  http://coconutpointnewyears.eventbrite.com/.  Click Map for directions:

Coconut Point Mall

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chrisgriffith on December 24th, 2011

Christmas Cactus

Enjoy The Day However You Celebrate

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chrisgriffith on December 17th, 2011

real estate fire sale

Bonita Springs Real Estate Inventory | Estero Real Estate Inventory

Every few weeks a real estate consumer calls me regarding an article in a newspaper or magazine cackling about the fire sale on Florida real estate and how we’re all slowly sliding into the abyss down here.  First, I don’t know where they get their real estate statistics because they’re, uh, wrong just about every time.  Second, I build you market reports with fresh out-of-the-oven real real estate sales statistics so you can make an informed, factual decision for yourself.

So, if you’re wondering what the heck is *really* going on with Bonita Springs real estate or Estero Florida real estate, I’ll give you the run down on the current inventory (absorption rate) and a few links to some pretty graphs I build to help you understand what is going on with the Bonita Springs real estate market.  Without further delay …

  • Single Family Homes (and Villas): 10.8 Months of Real Estate Inventory
  • Low Rise Condos: 10.2 Months of Real Estate Inventory
  • Mid Rise Condos:  10 Months of Real Estate Inventory
  • High Rise and Tower Condos:  20.7 Months of Real Estate Inventory
  • Attached Villa Homes:  9.2 Months of Real Estate Inventory
  • Manufactured Homes:  16.2 Months of Real Estate Inventory

Doesn’t look like there is much of a fire sale on Bonita Springs real estate.  That was back in ‘09.  If you look at the historical “November sales” graph, you’ll see what I mean.  The link is below along with a few other real estate market statistics graphs:

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All information is deem accurate, not guaranteed and subject to change.  Check the date on this report for freshness.  If you have questions regarding your particular neighborhood, your street or your home specifically you’re welcome to contact us for a current market report. Real estate consumers that read this website are urged to seek independent, professional legal, real estate and financial advice before engaging in any transaction. All information is deemed, accurate, subject to change and not guaranteed.

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chrisgriffith on December 17th, 2011

Ten Years of November Sales  Bonita Estero 2011

A Decade of November Bonita Springs Real Estate Sales

 

Bonita Springs Florida Real Estate | Condition of the Sale November 2011

Bonita Springs Florida Real Estate | What Price Range is Selling November 2011

 

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All information is deem accurate, not guaranteed and subject to change.  Check the date on this report for freshness.  If you have questions regarding your particular neighborhood, your street or your home specifically you’re welcome to contact us for a current market report. Real estate consumers that read this website are urged to seek independent, professional legal, real estate and financial advice before engaging in any transaction. All information is deemed, accurate, subject to change and not guaranteed.

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Bonita Estero Foreclosure Short Equity November 2011

Bonita Springs Foreclosure and Short Sale Statistics

 

Historical Bonita Springs Real Estate Sales | November 2002-2011

Bonita Springs Florida Real Estate | What Price Range is Selling November 2011

 

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All information is deem accurate, not guaranteed and subject to change.  Check the date on this report for freshness.  If you have questions regarding your particular neighborhood, your street or your home specifically you’re welcome to contact us for a current market report. Real estate consumers that read this website are urged to seek independent, professional legal, real estate and financial advice before engaging in any transaction. All information is deemed, accurate, subject to change and not guaranteed.

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Bonita Estero What Price Range Selling November 2011

What Price Range of Bonita Springs Real Estate Selling?

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Historical Bonita Springs Real Estate Sales | November 2002-2011

Bonita Springs Florida Real Estate | Condition of the Sale November 2011

 

All information is deem accurate, not guaranteed and subject to change.  Check the date on this report for freshness.  If you have questions regarding your particular neighborhood, your street or your home specifically you’re welcome to contact us for a current market report. Real estate consumers that read this website are urged to seek independent, professional legal, real estate and financial advice before engaging in any transaction. All information is deemed, accurate, subject to change and not guaranteed.

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chrisgriffith on December 14th, 2011

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Just Be Nice To Each Other

On the west side of tumbleweed peppered, middle-of-nowhere, Texas I drove past a cyclist pulling a wagon with a sign on it that read in part, cycling for cancer. I wondered who in his life he had lost to the beast or what compelled him to make the commitment to cross the country, let alone this vast state. Heck, crossing the county, for that matter, would be a daunting task for most of our sofa riding nation.

While the rest of the country is going about their business getting ready for the holiday season some guy is dragging a wagon full of hope covered with sponsor names through desert southwest. I was impressed with the dedication and conviction.

The spirit of activism, volunteerism and giving has been on my mind a lot lately, having watched and participated in the formation and organization of a group to help out a young family stay afloat both spiritually and financially while the patriarch battled cancer.

It would probably take a soulless person to look a photograph of man barely forty years old, with a three and six year old on his lap, and not get involved when asked. Hundreds of people across the country dove in and helped at whatever level they could give.

Affording to donate or give is usually a concern that folks bring up. Yes, the economy is rough and everyone is watching their bottom line, but there are more ways to give than to just write a check.

What money is unable fix, a warm hand can comfort. There is a gift of time for those who could use an extra pair of helping hands. There is the gift of blood for those of who need it and to pick up the slack for those who are no longer eligible to give. There is the gift of service such as cooking for someone, cleaning for someone, babysitting for someone who desperately needs the help. There’s always something free if not inexpensive to give.

If you’re really confused where to start giving in your community, start with a friendly smile. There aren’t nearly enough of those to go around. Seriously, look around at the tunnel vision, Shaun of the Dead, unawareness so many have as they drive across town or motor down your street.  For giggles, maybe you should stop one of them and ask where they recommend to get involved with the community.

For the young family I mentioned earlier a time donation was requested for someone to volunteer to occasionally pick up after the dog in the back yard. A job that nobody would particularly enjoy but the wife sure would have appreciated it while she tended to more important matters like spending the few remaining days with her husband and creating experiences for him to enjoy with the kids.

Unfortunately, he wasn’t able to kick cancer’s ass like we all wished he would.

Many people go about their business every day; some volunteer and some don’t … but most people probably would help if someone simply asked them to help. So in the spirit of the season I’ll ask you to help or at least open your heart and your eyes and find a way to help someone when an opportunity presents itself.

If you don’t know where to start just look around your neighborhood and really pay attention. Someone is in a bind and needs someone, anyone to just be kind to them.

You don’t have to ride a bike through the desert to be a hero; you can be a hero just by doing something instead of nothing, by helping someone instead of no one. It really is that simple.

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Real Life in Bonita Springs is a project by Chris Griffith dedicated to writing useful blog posts for consumers about the Bonita Springs, Florida area.  Find out what it is really like to live in Bonita Springs, Florida by reading about our fair city. You’ll get the latest in local real estate information, Bonita Springs real estate market reports and a little bit of humor.  If you have topic ideas, feel free to request a story about the idea, after all, this site is just for you.

You can subscribe to a weekly email newsletter by visiting www.LifeInBonitaSprings.com and entering your email in the subscription area on the center pane of the web page or by adding us to your reader by subscribing to this blog. Oh, and if you’re reading this content anywhere else but www.LifeInBonitaSprings.com or Naples Daily News it is probably stolen.

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chrisgriffith on December 9th, 2011

Bonita Springs Boat Parade December 10, 2011

Looking for things to do in Bonita Springs?  The 26th Annual Bonita Springs holiday boat parade is set for December 10, 2011 and is brought to you by Bonita Springs Rotary Club Noon.

Details with meeting locations and the captain’s dinner are as follows:

  • Sign Up: Captain’s Dinner is December 6th at The Fish House at 6:00 p.m. for Captains and First Mates, only … or visit Bay Water Boat Club and Rentals for a sign-up sheet.
  • Parade Date: December 10, 2011
  • The Location: The Fish House ~ 4685 Bonita Beach Road, Bonita Springs, FL 34134 is the sign up location and the beginning of the parade route.
  • The Route: The boat parade begins at the Fish House, goes up the Imperial River to east of US 41 Tamiami Trail to approximately Flossmoor Drive where it turns around and returns to the Barefoot Boat Club for the after party.
  • The After Party: The Boat Parade after party is at The Fish House, also. 
  • Prizes!:  This year there are five new boat parade prize categories.  $500 for 1st Place, $300 for 2nd Place, $200 for 3rd Place.

For more information, call Bay Waters Boat Rentals 239-495-0455 and visit www.BonitaBoatParade.com  

You can also print a Boat Parade Flyer by clicking here: Bonita Springs Boat Parade Flyer

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