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DALTON – NORRIS FLORIDA
FUND #1 LLC,
© 2019 THE NORRIS GROUP
Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
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2Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
"There is only one Ft. Myers and 90 million people are going to find it out."
- THOMAS EDISON
Florida real estate research by The Norris Group
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team
strategies
southwest florida
the homes
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Table of contents
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Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
1 F L O R I D A I N V E S T I N G © T H E N O R R I S G R O U P
THE TEAM
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2Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
THE NORRIS GROUP
Bruce Norris CEO
Aaron Norris VP
Craig Hill Loan Origination
Vickie Watts Loan Secretary
Joey Romero Investor Relations
Rich Durant Media
Donna Santo Bookkeeper/FL Loans
Robyn Alhadeff Escrow
Rhonda Van Buren Loan Coordinator
Holly Gunther Loan Assistant
The Norris Group1845 Chicago Avenue, Ste CRiverside, CA [email protected]: 951-780-5856F: 951-780-9827
Florida real estate research by The Norris Group
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BUILDING WEALTH AND LEGACY THROUGH REAL ESTATE
Professional real estate investors bring incredible value to every marketplace and cycle. As redevelopment specialists, real estate investors take pride in creating jobs, beautifying neighborhoods, increasing tax revenues, and turning neglected, vacant blight into livable homes. For this, investors deserve a reasonable profit and should be seen as a critical partner and solution in any real estate market.
Since 1997, The Norris Group has been is dedicated to spreading this important message. From the first-time homeowner to the design-minded flipper to the savvy landlord to the passive note investor, real estate investing has the power to create and build wealth today and for generations to come.
We will continue to share best practices, market insights, and technology trends that position us Main Street folks for success now and in the future. You'll find our weekly free resources like our award-winning radio show and podcast and our weekly real estate news series on YouTube, Apple, Facebook, Linkedin, and on most podcasting services.
New and experienced investors also enjoy over 60+ hours of investor training via our VIP Subscription where we cover investor essentials, buying strategies, negotiating skills, and financial strategies targeted uniquely to exactly where we are in the market. We prepare investors to success in the current market and keep them posted when change is coming.
THE NORRIS GROUP
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4Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
KEY PRINCIPLES
BRUCE NORRISCEO (DRE #: 00801028 | NMLS #: 1623668)
Bruce Norris is an active investor, hard money lender, and real estate educator with over 35 years experience. Bruce has been involved in more than 2,000 real estate transactions as a buyer, seller, builder, and money partner.
Renowned for his ability to forecast long-term real estate market trends and timing, the release of The California Comeback report in 1997 gained him much notoriety. The accuracy of the extensive report led many California investors to financial freedom. His January 2006 release, The California Crash, was an in-depth look into the California market correction and the statistics behind Bruce’s predictions.
Bruce speaks and debates nationally and has been a guest speaker at the Mortgage Bankers Association, REOMAC, Inman, HousingWire, California Association of Realtors, California Builders Industry Association, California Mortgage Association, the Real Estate Research Council, and several local and national investment clubs, associations, and service clubs. Bruce has met with local and national government officials including FHA and Fannie Mae to discuss market solutions and market insights.
Bruce is also the host of the award-winning series, I Survived Real Estate. The events bring together leaders from numerous real estate sectors to discuss legislation, regulation, stimulus-related issues, and solutions to the current market. The events have also helped raise over $860,000 for charity since it began in 2008.
Bruce hosts the award-winning Norris Group Real Estate Radio Show and Podcast, where he interviews real estate industry leaders, authors, government officials, local experts, and economists. There are almost 600 shows of free education in our real estate radio archives.
Bruce has contributed articles to many real estate magazines and newsletters including Think Realty, Scotsman Guide, The Orange County Register, RealtyTrac’s Foreclosure Newsletter, AOA Magazine, and the Daily Commerce. He has also been featured in: The Wall Street Journal, Fox Business News, Nightline ABC, The New York Times, Time Magazine, Good Morning America, the Los Angeles Times, and Fortune.
[email protected]: 951-780-5856 x101F: 951-780-9827
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AARON NORRISVICE PRESIDENT (DRE #: 02038616 | NMLS #: 1641953)[email protected] | M: 646-418-4437 | O: 951-823-8268
Aaron Norris is Vice President of The Norris Group. His role at The Norris Group includes loan officer, office manager, and business development. Aaron has been in the real estate field for over a decade having worked in the construction and design industry before joining The Norris Group in 2005. He speaks nationally on topics including technology and real estate (artificial intelligence, robotics, shared economy, virtual reality and FinTech) as well as marketing and PR trends. He is a contributor to Forbes, BiggerPockets.com, and Think Realty Magazine. Aaron has an MBA from UC Irvine. He’s an Accredited Public Relations professional (APR) and also holds his Certified Specialist in Planned Giving (CPSG) designation.
JOEY ROMEROINVESTOR RELATIONS (DRE #: 02038615 | NMLS #: 1623669)[email protected] | M: 951-317-7770 | O: 951-823-8266
Joey handles a wide array of duties for The Norris Group. He holds a real estate license CA BRE # 02038615 as well as a mortgage loan originator license NMLS #1641959. Among those duties are customer acquisition and retention, fielding loan calls and TNG Academy and CRM management. He is also a creative contributor with all outgoing media. Lastly, Joey books TNG Events and speaking engagements for both Bruce and Aaron Norris.
DONNA SANTOTRANSACTION COORDINATOR FLORIDA(DRE #: 01991948 | NMLS #: 1624656)[email protected] | O: 951-823-8270
Donna Santo came to The Norris Group in 2012 with a background in real estate appraisal and property management. She joined the TNG Auction division that was purchasing, rehabbing, and selling hundreds of Southern California homes per year which later expanded into Florida. Her various duties included office support, pre-auction property inspections, repair estimates, property valuation, auction bidding, transaction coordination, and bookkeeping. Donna is now serves as the Florida loan division transaction coordinator as well as internal bookkeeper for the various moving pieces of The Norris Group.
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6Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
DALTON COMMUNITIES
Rick Dalton CEO
Jeff Beach Dir. of Operations
Betty Jo Brown Finance/Office Manager
Shannah Dalton Land Analyst
Lorraine Strand Purchasing Manager
Dona Smith Sales & Marketing
Ciara Leyva Admin. Assistant
Trish Seckler Permitting Manager
Dalton Communities8660 College Parkway Suite 400Fort Myers, FL 33919daltoncommunities.com
O: (888)-6-DALTON
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THE DALTON DIFFERENCE
Our leadership team has over 50 years of residential home building experience with a strong history of delivering high customer satisfaction and quality homes to thousands of customers.
We value our customers, team members, and trade partners that all come together to build new homes.
We believe in a team approach when building a new home. We utilize experience, teamwork, listening, and partnerships to achieve our goals and objectives. We believe in treating people with respect and strive to foster a culture of excellence.
DALTON COMMUNITIES
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8Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
KEY PRINCIPLES
RICK DALTONCEO (GC #: CGC1521732)
Experienced leader with a demonstrated history of results working in the real estate industry. Strong business development professional skilled in land development, budgeting, value engineering, construction, and sales.
Dalton Communities was formed based on our founder Rick Dalton’s passion for homebuilding, learning and focus on the customer experience. Our company is driven by the pursuit of building quality homes that meet or exceed our customers’ expectations. As a company, we utilize customer feedback as the basis of the design of our homes and communities.
For more than 25 years, the residential development and homebuilding industry have been a great teacher and experience for this student of the business. Rick has grown his base of experience from the ground up beginning as an apprentice for a subcontractor company.
After receiving his Bachelor’s Degree in Building Construction Management, Rick began working for some of the country’s best builders and developers where he gained valuable experience in developing communities and building homes. Rick’s passion for homebuilding and learning earned him frequent promotions growing from Superintendent to Project Manager to Vice President and Division President.
Rick continued his pursuit of understanding the business by achieving a degree of Masters of Business Administration. Throughout his journey, Rick continued to feel that there was always a better way to deliver quality homes that met the customers’ needs and continually desired to start his own company to do so. His passion and experience in the industry led him to leave the corporate homebuilding industry and begin Dalton Communities.
[email protected]: (888)-6- DALTON
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JEFF BEACHDIRECTOR OF OPERATIONS
Jeff Beach oversees all internal operations and construction related activities at Dalton Communities. Jeff has lived in the Local SW FL area over 30 years. He has over 25 years of sales and construction experience. Jeff has a BS in business management from Lee University. Jeff’s experience includes real estate sales as a Florida Realtor, sales and construction management for KB Home, production manager for Maronda Homes, and project manager for WCI Homes. Jeff’s passion is not only delivering a quality product for the customer but also mentoring younger and less experienced employees on their knowledge and understanding of the home building industry.
BETTY JO BROWNOFFICE / FINANCE MANAGER (Lic #: SL3158060)
Betty Jo Brown is the Finance / Office Manager at Dalton Communities, her responsibilities include contracts, insurance, accounts receivables, payables, human resources and directly supports the leadership team and assists with other areas as needed. For the past 13 years, Betty Jo has been involved in real estate/property management area. Before real estate, she held positions in County and State government for over 10 years. This experience has allowed Betty Jo to excel in understanding, navigating and solving complex matters involving the multiple municipalities.
DONA SMITHSALES AND MARKETING MANAGER(Lic #: SL3240110 | Lic #: CBC1257097)
Dona Smith is our Sales and Marketing Manager. Her Role within Dalton Communities includes, Sales design, marketing and warranty. Dona has over 25 years combined experience in both Real Estate and construction. Before joining Dalton Communities, she held a Regional Sales Manager position and most recently was a Starts, Sales and Closing Manager both for National Builders. She holds an active Florida Real Estate license and is pursuing her Brokers License. Dona also Holds an Active Certified Builders License (CBC)in the State of Florida. Her additional experience in the Title industry and ongoing community involvement prove an asset in the field.
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Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
11 F L O R I D A I N V E S T I N G © T H E N O R R I S G R O U P
STRATEGIES
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12Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
OVERVIEWThe summarized information presented below is derived from and should be read in conjunc-tion with the Operating Agreement for DALTON-NORRIS FLORIDA FUND #1 LLC.
DALTON – NORRIS FLORIDA FUND #1 LLC, a Florida limited liability company (the “LLC”):
1. $20,000,000 maximum initial capital contribution (funding)
2. Length of LLC: 3 years after start date
3. Purpose of LLC:
� To create profits by acquiring real property, building new homes and immediately selling them, and
� To create cash flow by acquiring real property, building new homes and renting them.
4. Duties of Managers (also representing the Class A unit holders) include taking the following actions for the LLC:
� Locate and acquire building lots
� Obtain permits
� Construct new homes
� Decide to sell or rent these homes depending on the best revenue for the LLC
� Manage the profits and cash flow of the LLC
� Hire property managers
� Handle monthly accounting
� Handle any necessary repairs
� Handle insurance needs
� Distribute profits
The Membership Interests in DALTON – NORRIS FLORIDA FUND #1 LLC are subject to the substantial restrictions on transferability, including restrictions on transferability imposed by this Agreement and those imposed by applicable federal, state and/or foreign securities laws. As a result of these restrictions, purchasers of Membership Interests must bear the economic risk of their respective investment therein for an indefinite period of time. The Membership Interests have not been registered under federal or any state or foreign securities laws and may not be offered for sale or other transfer, or otherwise sold, pledged, hypothecated or transferred except in compliance with the terms of Section 7 of this Agreement and applicable federal, state and/or foreign securities laws.
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5. How proceeds are allocated when selling a property
Dalton Communities, LLC or an Affiliate of said Manager (“Dalton”) gets paid for constructing the home.
Bruce Norris Financial Group, Inc or an Affiliate of said Manager (“Norris”) gets paid for management and administration services for the home.
Added to the cost to build the house will be a 14.5% fee paid to the managers.
EXAMPLE: 137 SWEETWATER ROTUNDA WEST
Cost to build: $177,197
Management Fee: -$ 25,694 (14.5%)
Total cost $202,891 (cost includes Dalton’s builder fee, Norris management fee, building permits, and $8,000 of lot work)
Expected price: $230,000 (22.3% equity spread over total cost)
Total cost: -$202,694
Cost of sale: -$14,890
Net profit : $ 30,380 (15.0%)
Note: The Class A unit holders have constructed or are in the process of constructing model homes at no cost to the LLC. This will facilitate both the sale of new homes and the renting of homes.
It is anticipated that initially the LLC will use 100% of the initial capital contributions for lot purchases, construction and immediate new home sales. If and when it becomes more prudent and profitable to hold the properties for rentals, that change will be made.
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14Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
RENTING HOMES
Sample year holding 86 rentals and selling 22 homes. Expected rent per house between $1,500 and $1,600 ($1,500 used for sample):
$ 1,548,000 gross rents (86 x $1,500 x 12 months)
$ 500,500 net income from new home sales (22 x $22,750)
$ 2,048,500 gross income
-$ 123,840 (8% property management fee)
-$ 257,140 property taxes (1.3% x $230,000 x 86)
-$ 86,000 insurance (hurricane/liability/fire/flood if needed)
-$ 46,440 vacancy (3%)
-$ 85,140 maintenance (5.5% of gross rents)
-$ 163,400 (1% money management fee for money tied to rentals)
$ 1,286,540 Net cash flow (6.4%)
In addition to the annual cash flow, the LLC would also have a starting equity position of about $40,000 a house x 86 houses or $3,440,000.
If the LLC holds these rental properties for several years, the rents might go up and the prices might go up as well.
In doing the calculations, the best profit to the LLC comes from building new homes and immediately selling them. The LLC avoids all of the holding costs of rentals and avoids the money management fee of 1% as well.
If the market changes, the secondary plan would be to rent most of the properties and sell fewer. There will be no leverage used for the duration of the LLC. Everything will be owned free of debt.
When properties are eventually sold, the Class B unit holders will get 100% of the net profit from the sale until a 9% overall annual yield has occurred.
After that yield has been achieved, the profits will be split 50% to the Class B unit holders and 50% to the Class A unit holders.
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Investing in membership interests and units involves a high degree of risk. No guarantees or other forms of assurance have been made (or will be made or given to) such Member with respect to any of such risks by the Company. You should carefully consider the risks and uncertainties described herein, togeth-er with all information contained in the Operating Agreement, before making a decision to invest in the LLC.
The projections and assumptions provided above are illustrative only and will change based on the number of properties, rents received (if any), expenses and sales prices. Nothing contained herein should be construed to imply that the results or projections discussed herein will be realized or that any conclu-sion reached herein will be indicative of actual results in the future.
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Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
� � �
21m
0%
#4
41.6
5.5%
#1
3.8%
97.7
#17LARGEST ECONOMY IN THE WORLD BASED ON
2018, $1 TRILLION
INCOME GAINED DUE TO MIGRATION (US CENSUS)
FISCAL SOLVENCY 2018 (MERCATUS CENTER)
UNEMPLOYMENT RATE
COST OF LIVING INDEX
MEDIAN AGE
CORPORATE INCOME TAX
POPULATION
STATE INCOME TAX
FLORIDA FACTS
Source: MLS, Census, and various online resources.
17 F L O R I D A I N V E S T I N G © T H E N O R R I S G R O U P
Southwest Florida's heritage dates back to the Calusa who lived in the area 12,000 years ago. Early American settlers were cattlemen, ranchers and farmers from other parts of Florida.
It was Thomas Edison who put the area on the map, inviting his friends Harvey Firestone and Henry Ford.
Today, Southwest Florida is a vast region of beaches, high rise condominiums and wealthy golf course communities. It stretches from the white sand beaches of Englewood in the north to the marshy fishing villages of Everglades City and Chokoloskee Island in the south.
SOUTHWEST FLORIDA
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18Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
WHY SW FLORIDA?Southwest Florida is made up of five counties – Lee, Collier, Charlotte, Hendry, and Glades.
The region is known for its tropical climate with lots of sunshine, water, and wildlife. Major cities include Naples, Fort Myers, Cape Coral, Bonita Springs, Punta Gorda, Marco Island, Sanibel and, Fort Myers Beach.
If you've read "Big Shifts Ahead" by John Burns Real Estate Consulting, you know Florida has the potential to attract many Boomers as they retire.
While Southwest Florida is known as a seasonal region with high volumes of midwest and international visitors traveling to avoid harsh winters, the area is growing. More people are arriving to stay.
Top states sending people include New York, New Jersey, Illinois, Massachusetts, and Ohio according to the IRS.
While Florida was hit during the downturn, historically, Florida does not experience the same real estate swings of California.
Land values have remained depressed since the Great Recession. The area offers a great number of infill lots at below replacement cost.
This chapter will briefly introduce you to the counties and some of the main cities the partnership will focus on.
�
�
�
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TOP EMPLOYERS
�
�
�
1. Lee County School District .................13,723
2. Lee Health ......................................... 13,595
3. Lee County Local Government ............ 9,044
4. Publix Super Market ............................. 7,183
5. NCH Healthcare System ...................... 7,017
6. Collier County School District .............. 6,422
7. Walmart Supercenter .......................... 5,271
8. Collier County Local Government .........5,011
9. Florida Gulf Coast University .................4,211
10. Bayfront Health ................................... 3,060
11. Charlotte County School District .......... 2,655
12. Arthrex, Inc. ......................................... 2,500
13. McDonald’s ......................................... 2,423
14. Charlotte County Local Government .... 2,394
15. City of Cape Coral ............................... 2,213
16. Winn-Dixie ............................................2,149
17. US Sugar .............................................2,100
18. Palm Automotive ................................. 2,050
19. Home Depot ....................................... 2,040
20. City of Naples ...................................... 1,867
21. Florida SouthWestern State College ......1,441
22. Gartner, Inc. ........................................ 1,200
23. Walgreens ............................................ 1,171
24. Target ...................................................1,150
25. Chico’s Fas Inc. .................................... 1,147
26. Lowe’s Home Improvement ..................1,135
27. Hertz .................................................... 1,110
28. Ritz Carlton-Naples ..............................1,100
29. Shell Point Retirement Community .......1,100
30. City of Fort Myers ................................ 1,063
31. Radiology Regional Center .................. 1,031
32. Hendry County School District ............... 912
33. News-Press/Naples Daily News .............840
34. Seminole Casino ....................................800
35. Perkins Restaurant & Bakery .................. 734
36. Sam’s Club ............................................ 725
37. Olive Garden Italian Kitchen .................... 715
38. J W Marriott-Marco Island ......................700
39. Naples Grande Beach Resort .................700
40. Hope Hospice ........................................700
41. Hendry County Local Government .........699
42. WCI Communities ..................................689
43. Marriott-Sanibel Harbour Resort .............650
44. Outback Steakhouse ..............................633
45. JC Penney ............................................. 615
46. Physicians Regional Medical Center .......600
47. Shear Construction ................................600
48. Dillard’s .................................................. 575
49. Burger King ............................................563
50. Downing Frye Realty ..............................550
51. John R Woods Properties ......................545
52. Raymond Building Supply ......................534
53. Carrabba's Italian Grill ............................. 510
54. Cracker barrel Old Country .....................505
55. Florida Cancer Specialists ......................505
56. Agmart Produce Inc. ..............................500
57. Bentley Village A Classic .........................500
58. Gulf Bay Group of Companies ................500
59. Moorings Park ........................................500
60. Chili's bar and Grill ..................................494
Source: LandSolutions.net.
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20Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
LEE COUNTY
Ponce de Leon explored areas along Florida’s Gulf coast in 1513 & 1521. The barrier islands of Lee County are believed to be one of his many stops. Founded in 1887, Lee County is located in Southwest Florida on the Gulf Coast. The county seat is Fort Myers, and the largest city is Cape Coral. Lee County was created in 1887 from Monroe County. It was named for Robert E. Lee, Confederate general in the American Civil War.
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LEE COUNTY FACTS
� � �
700k
30/70
#2
48
52.1k
#1
3.2%
+10.8%
#4NATIONAL STATE
ECONOMY RANKING (CNBC 2016)
FORBES: BEST CITIES FOR FUTURE JOB
GROWTH
BUSINESS INSIDER BEST PLACE TO RETIRE 2019
UNEMPLOYMENT RATE
POPULATION INCREASE SINCE 2010
MEDIAN AGE
MEDIAN HOUSEHOLD INCOME
POPULATION
RENT/OWN PERCENTAGE
Source: Realtors Property Resource® LLC, Census, and various online resources.
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22Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
Net Migration Flow – Lee County, FL
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
2009 2010 2011 2012 2013 2014 2015
Recession Lee County
Population by Age – Lee County
169,60
5
172,48
4
172,60
8
175,43
4
178,47
2
183,41
1
189,27
3
192,72
6146,50
2
152,57
6
161,59
5
170,12
1
179,39
1
189,53
8
198,41
7
206,87
9620,467 631,077 644,580 660,431 678,241 700,421 722,506 739,224
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
2010 2011 2012 2013 2014 2015 2016 2017
<5 years 5 to 13 years 14 to 17 years 18 to 24 years
25 to 44 years 45 to 64 years 65 years and over Total
Yr. Growth2.3%4.3%1.8%2.0%1.1%0.9%1.0%0.6%
POPULATION
MIGRATION
LEE COUNTY DEMOGRAPHICS
Source: US Census.
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Lee County Migration Trends
In‐State Inflow Out‐of‐State Inflow Rank County Total Rank State County Total1 Collier County 4,113 1 IL Cook County 5022 Miami‐Dade County 1,929 2 TX Travis County 4943 Broward County 1,253 3 NY Suffolk County 3004 Charlotte County 683 4 MI Oakland County 2545 Hillsborough County 614 5 IL Lake County 2156 Palm Beach County 564 6 NY Nassau County 2137 Orange County 512 7 IL Will County 2118 Sarasota County 433 8 OH Franklin County 2089 Pinellas County 395 9 CT Fairfield County 20510 Hendry County 345 10 PA Allegheny County 20311 Manatee County 263 11 OH Cuyahoga County 19612 Polk County 244 12 MN Hennepin County 19413 Duval County 168 13 CT Hartford County 19414 Monroe County 168 14 NJ Ocean County 19415 Pasco County 163 15 MI Macomb County 19416 Seminole County 159 16 CT New Haven County 19217 Volusia County 154 17 MA Middlesex County 18918 Brevard County 149 18 IL DuPage County 18619 Osceola County 139 19 NY Erie County 18220 Alachua County 110 20 MI Wayne County 18121 Lake County 107 21 NY Bronx County 17922 Highlands County 103 22 NY Queens County 17523 Marion County 99 23 KY Jefferson County 16324 Leon County 95 24 NY Kings County 16125 St. Lucie County 85 25 TX Harris County 15826 Glades County 72 26 VA Fairfax County 15627 DeSoto County 71 27 IL Kane County 15628 Escambia County 67 28 NY Monroe County 15329 St. Johns County 56 29 MA Essex County 15030 Clay County 54 30 MA Worcester County 14931 Hernando County 50 31 MD Anne Arundel County 14932 Indian River County 48 32 FR Foreign ‐ Overseas 14933 Bay County 46 33 NJ Bergen County 14534 Martin County 45 34 NV Clark County 13935 Citrus County 41 35 AZ Maricopa County 13936 Okaloosa County 31 36 NC Mecklenburg County 137 37 IN Marion County 133 38 PA Bucks County 133 39 MO St. Louis County 130 40 CA Los Angeles County 128
Source: IRS via LandSolutions.net.
MIGRATION TRENDS
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24Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
Employment Percentage Comparison
Source: US Census Bureau.
5.1%
6.1%
3.9%
3.1%
7.0%
6.0%
4.0%
9.3%
10.2%
15.4%
4.1%
5.0%
4.2%
3.9%
6.2%
6.2%
4.5%
10.9%
12.7%
17.0%
3.6%
4.4%
4.9%
5.0%
5.2%
6.7%
7.9%
13.0%
14.5%
15.3%
Management
Education, Training, & Library
Installation, Maintenance, & Repair
Building & Grounds Cleaning & Maintenance
Transportation & Material Moving
Healthcare Practitioners & Technical
Construction & Extraction
Food Preparation & Serving Related
Sales & Related
Office & Administrative Support
Cape Coral‐Fort‐Myers % Florida % US %
EMPLOYEE %
Unemployment Rate History: Lee County 2.9%
Source: US Census Bureau.
2.9%
0%
2%
4%
6%
8%
10%
12%
14%
Jan‐90
Dec‐90
Nov‐91
Oct‐9
2Sep‐93
Aug‐94
Jul‐9
5Jun‐96
May‐97
Apr‐9
8Mar‐99
Feb‐00
Jan‐01
Dec‐01
Nov‐02
Oct‐0
3Sep‐04
Aug‐05
Jul‐0
6Jun‐07
May‐08
Apr‐0
9Mar‐10
Feb‐11
Jan‐12
Dec‐12
Nov‐13
Oct‐1
4Sep‐15
Aug‐16
Jul‐1
7Jun‐18
Recession Lee County Florida US
UNEMPLOYMENT
LEE COUNTY DEMOGRAPHICS
Florida real estate research by The Norris Group
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Vacancy Rate
Source: US Census Bureau.
0%
5%
10%
15%
20%
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Recession Florida US
Homeownership Rate
Source: US Census Bureau.
55%
60%
65%
70%
75%
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Recession Lee County Florida US
Median Household Income
Source: Federal Reserve Bank of St. Louis, US Census Bureau.
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Recession Lee County Florida US
MEDIAN HOUSEHOLD INCOME
HOMEOWNERSHIP RATE
VACANCY RATE
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26Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
Housing Unit Building Permits
Source:landsolutions.net.
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 20183‐4 Unit 96 129 117 84 226 227 23 ‐ 4 4 ‐ ‐ ‐ ‐ 4 3 4 ‐5+ 58 69 162 956 743 473 212 31 10 ‐ ‐ ‐ ‐ ‐ 120 51 ‐ ‐Duplex 24 48 96 50 136 104 60 18 4 128 6 2 ‐ ‐ 6 12 30 66SFR 1,15 1,39 1,80 2,20 2,78 2,57 896 290 267 246 274 264 461 502 750 905 1,09 1,69
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
SFR Duplex 5+ 3‐4 Unit
New Private Housing Structures Authorized by Building Permits for Lee County, FL
Source: U.S. Bureau of the Census, New Private Housing Structures Authorized by Building Permits for Lee County, FL [BPPRIV012071], retrieved from FRED,
Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/BPPRIV012071, November 18, 2018.
0
5,000
10,000
15,000
20,000
25,000
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Recession Lee County
NEW PRIVATE HOUSING BY PERMIT
BUILDING PERMITS
LEE COUNTY REAL ESTATE
Florida real estate research by The Norris Group
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Sales
Source:.MLS.
0
500
1,000
1,500
2,000
Jan‐07 Jan‐08 Jan‐09 Jan‐10 Jan‐11 Jan‐12 Jan‐13 Jan‐14 Jan‐15 Jan‐16 Jan‐17 Jan‐18 Jan‐19Sales
Prices
Source:.MLS.
$333,379
$260,000
$0
$100,000
$200,000
$300,000
$400,000
Jan‐07 Jan‐08 Jan‐09 Jan‐10 Jan‐11 Jan‐12 Jan‐13 Jan‐14 Jan‐15 Jan‐16 Jan‐17 Jan‐18 Jan‐19
Average Median
PRICES
SALES
Land Prices
Source:.MLS.
$16,53
9
$16,62
2
$18,12
3
$19,09
0
$17,31
7
$11,00
0
$12,95
0
$15,00
0
$12,50
0
$11,00
0
$0
$5,000
$10,000
$15,000
$20,000
$25,000
2014 2015 2016 2017 2018
Average Sold Price Median Sold Price
LAND
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28Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
FORT MYERS
LEE COUNTY
Established in 1886, Fort Myers is the county seat and historical hub of Lee County. Sitting on the Caloosahatchee River, the city is home to the historic winter residences of Thomas Edison and Henry Ford. Extensive renovation of Fort Myers’ historic, waterfront downtown is underway, with new restaurants, nightclubs, apartments and artistic venues offering energy, growth and vitality. Residents and visitors alike enjoy cultural events overlooking the river at Centennial Park and the Yacht Basin.
Florida real estate research by The Norris Group
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FORT MYERS
� � �
73.7k
53/47
#2
39
41.6k
#1
3.4%
+26%
#1SPERLING'S MOST POPULAR HOLIDAY
DESTINATION
FORBES: BEST CITIES FOR FUTURE JOB
GROWTH
BUSINESS INSIDER BEST PLACE TO RETIRE 2019
UNEMPLOYMENT RATE
POPULATION INCREASE SINCE 2010
MEDIAN AGE
MEDIAN HOUSEHOLD INCOME
POPULATION
RENT/OWN PERCENTAGE
Source: Realtors Property Resource® LLC, Census, and various online resources.
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30Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
CAPE CORAL
LEE COUNTY
Cape Coral was developed around 400 miles of canals, offering abundant waterfront living opportunities. Residents and visitors have easy access to golf, tennis, fishing, and community parks. Cape Coral’s business community has seen robust growth with the development of commercial and manufacturing sites. Competitive labor costs, available land, a qualified workforce and appealing quality of life fuel Cape Coral’s residential and commercial growth. The county's largest city is also home to many festivals and special events such as Festival of the Arts, Bike Night, Red White & Boom, Tour De Cape, and the Veteran's Day Parade.
Florida real estate research by The Norris Group
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CAPE CORAL
� � �
174k
30/70
#1
46
53.7k
#3
3.2%
14.9%
100ONE OF AMERICA'S TOP 100 PLACES TO RETIRE
MOST AFFORDABLE PLACE TO LIVE IN
FLORIDALIVIBILITY.COM 2016
FORBES 2017: JOBS AND RESIDENTIAL GROWTH
UNEMPLOYMENT RATE
POPULATION INCREASE SINCE 2010
MEDIAN AGE
MEDIAN HOUSEHOLD INCOME
POPULATION
RENT/OWN PERCENTAGE
Source: Realtors Property Resource® LLC, Census, and various online resources.
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32Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
CHARLOTTE COUNTY
Greater Charlotte Harbor & the Gulf Islands Area have been consistently voted the best place to live in the South. The area can boast of an excellent location, pristine waterfront, and untouched wilderness. Charlotte County also offers new and expanding transportation networks, including Interstate 75 corridor connecting Charlotte County and Tampa to the north, and Miami to the east. Home to annual events like the OPA World Championships (November) and is just a few minutes away from Boca Grande which hosts the annual Tarpon Fishing Tournament. Don't feed the dolphins!
Florida real estate research by The Norris Group
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CHARLOTTE COUNTY
� � �
173k
22/78
#2
58
46.5k
3.8%
8.4%
FLORIDA'S #2 FOR NET WORTH PER CAPITA
(SMARTASSET)
UNEMPLOYMENT RATE
POPULATION INCREASE SINCE 2010
MEDIAN AGE
MEDIAN HOUSEHOLD INCOME
POPULATION
RENT/OWN PERCENTAGE
Source: Realtors Property Resource® LLC, Census, and various online resources.
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34Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
Net Migration Flow – Charlotte County, FL
Source: U.S. Bureau of the Census, Net Migration Flow for Charlotte County
FL [NETMIGNACS012071], retrieved from FRED, Federal Reserve Bank of St. Louis.
0
1,000
2,000
3,000
4,000
5,000
6,000
2009 2010 2011 2012 2013 2014 2015 2016
Recession Charlotte County
Population by Age – Charlotte County
48,529
48,244
47,538
47,320
47,806
48,638
50,055
50,935
54,943
56,159
58,684
60,966
63,546
66,271
69,164
71,802
159,869 159,881 162,833 164,830 168,336 172,824 178,157 182,033
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
200,000
2010 2011 2012 2013 2014 2015 2016 2017
<5 years 5 to 13 years 14 to 17 years 18 to 24 years
25 to 44 years 45 to 64 years 65 years and over Total
Yr. Growth2.2%3.8%1.8%1.7%‐0.2%0.0%‐0.6%0.0%
POPULATION
UNEMPLOYMENT
CHARLOTTE COUNTY DEMOGRAPHICS
Florida real estate research by The Norris Group
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Charlotte County Migration Trends
In‐State Inflow Out‐of‐State Inflow Rank County Total Rank State County Total
1 Sarasota County 2,197 1 CT Hartford County 97
2 Lee County 833 2 MA Worcester County 93
3 DeSoto County 270 3 NY Suffolk County 76
4 Manatee County 186 4 IL Cook County 75
5 Miami‐Dade County 184 5 OH Franklin County 69
6 Broward County 183 6 MI Oakland County 68
7 Hillsborough County 164 7 MA Essex County 67
8 Collier County 155 8 MA Middlesex County 67
9 Palm Beach County 150 9 CT Fairfield County 60
10 Pinellas County 127 10 CT New Haven County 60
11 Orange County 107 11 RI Providence County 57
12 Polk County 90 12 TX Travis County 57
13 Monroe County 64 13 NY Erie County 54
14 Pasco County 64 14 MA Plymouth County 53
15 Highlands County 48 15 NH Rockingham County 51
16 Duval County 46 16 NJ Ocean County 50
17 Marion County 36 17 MA Bristol County 50
18 Seminole County 32 18 ME Cumberland County 48
MI Wayne County 48
NY Queens County 47 Source: IRS via LandSolutions.net.
MIGRATION TRENDS
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36Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
Employment Percentage Comparison Punta Gorda
Source: US Census Bureau.
5.1%
6.1%
3.9%
3.1%
7.0%
6.0%
4.0%
9.3%
10.2%
15.4%
4.1%
5.0%
4.2%
3.9%
6.2%
6.2%
4.5%
10.9%
12.7%
17.0%
3.6%
4.4%
4.9%
5.0%
5.2%
6.7%
7.9%
13.0%
14.5%
15.3%
Management
Education, Training, & Library
Installation, Maintenance, & Repair
Building & Grounds Cleaning & Maintenance
Transportation & Material Moving
Healthcare Practitioners & Technical
Construction & Extraction
Food Preparation & Serving Related
Sales & Related
Office & Administrative Support
Punta Gorda Florida % US %
Unemployment Rate History: Charlotte County 3.8%
Source: US Census Bureau.
3.8%
0%
2%
4%
6%
8%
10%
12%
14%
16%
Jan‐90
Dec‐90
Nov‐91
Oct‐9
2Sep‐93
Aug‐94
Jul‐9
5Jun‐96
May‐97
Apr‐9
8Mar‐99
Feb‐00
Jan‐01
Dec‐01
Nov‐02
Oct‐0
3Sep‐04
Aug‐05
Jul‐0
6Jun‐07
May‐08
Apr‐0
9Mar‐10
Feb‐11
Jan‐12
Dec‐12
Nov‐13
Oct‐1
4Sep‐15
Aug‐16
Jul‐1
7Jun‐18
Recession Charlotte County Florida US
EMPLOYEE %
UNEMPLOYMENT
CHARLOTTE COUNTY DEMOGRAPHICS
Florida real estate research by The Norris Group
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Median Household Income
Source: Federal Reserve Bank of St. Louis, US Census Bureau.
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Recession Charlotte County Florida US
Homeownership Rate
Source: US Census Bureau.
0%
20%
40%
60%
80%
100%
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Recession Charlotte County Florida US
Vacancy Rate
Source: US Census Bureau.
0%
5%
10%
15%
20%
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Recession Florida US
MEDIAN HOUSEHOLD INCOME
HOMEOWNERSHIP RATE
VACANCY RATE (COUNTY NA)
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38Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
New Private Housing Structures Authorized by Building Permits for Charlotte County, FL
Source: U.S. Bureau of the Census, New Private Housing Structures Authorized by Building Permits for Charlotte County, FL [BPPRIV012071], retrieved from FRED,
Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/BPPRIV012071, November 18, 2018.
0
1,000
2,000
3,000
4,000
5,000
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Recession Charlotte County
Housing Unit Building Permits Charlotte
Source:landsolutions.net.
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 20183‐4 Unit 164 221 201 134 265 267 134 68 4 4 ‐ ‐ 4 ‐ 4 3 4 ‐5+ 394 121 266 1,12 992 575 232 31 10 ‐ ‐ ‐ ‐ ‐ 120 51 ‐ ‐Duplex 34 58 102 82 186 136 72 22 4 128 10 2 ‐ ‐ 6 12 30 66SFR 1,43 1,58 1,95 2,33 2,91 2,64 932 312 279 286 302 327 549 610 750 905 1,09 1,69
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
SFR Duplex 5+ 3‐4 Unit
CHARLOTTE COUNTY REAL ESTATE
NEW PRIVATE HOUSING BY PERMIT
BUILDING PERMITS
Florida real estate research by The Norris Group
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Prices Charlotte
Source:. landsolutions.net.
$226,759
$0
$50,000
$100,000
$150,000
$200,000
$250,000
Sep‐12
Dec‐12
Mar‐13
Jun‐13
Sep‐13
Dec‐13
Mar‐14
Jun‐14
Sep‐14
Dec‐14
Mar‐15
Jun‐15
Sep‐15
Dec‐15
Mar‐16
Jun‐16
Sep‐16
Dec‐16
Mar‐17
Jun‐17
Sep‐17
Dec‐17
Mar‐18
Jun‐18
Sep‐18
Dec‐18
Median
Sales
Source:. landsolutions.net.
0
100
200
300
400
500
600
Sep‐12
Dec‐12
Mar‐13
Jun‐13
Sep‐13
Dec‐13
Mar‐14
Jun‐14
Sep‐14
Dec‐14
Mar‐15
Jun‐15
Sep‐15
Dec‐15
Mar‐16
Jun‐16
Sep‐16
Dec‐16
Mar‐17
Jun‐17
Sep‐17
Dec‐17
Mar‐18
Jun‐18
Sep‐18
Dec‐18
Land Prices
Source:.MLS.
$39,85
4 $55,40
3
$55,78
8
$29,04
3
$27,85
7
$7,112
$8,727
$7,542
$5,326
$7,376
$8,638
$12,54
3
$12,50
2
$13,59
6
$15,12
7
$38,50
0 $56,00
0
$65,00
0
$30,00
0
$25,00
0
$7,500
$5,000
$5,000
$45,00
0
$6,000
$5,700
$10,25
0
$12,00
0
$12,50
0
$14,50
0
$0$10,000$20,000$30,000$40,000$50,000$60,000$70,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Average Sold Price Median Sold Price
PRICES
SALES
LAND PRICES
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40Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
Rotonda West
CHARLOTTE COUNTY
Rotonda West is an unincorporated, deed-resitricted community in Charlotte County. It is located mid-way between Sarasota and Fort Myers. The community contains 8,000 home sites with over 5,000 homes completed and is experiencing rapid growth. Residents are predominantly full-time homeowners and their families. There are seven golf courses. The Rotonda River is accessed by small boats and kayaks. Area has great fishing. Each of the neighborhoods in Rotonda have numerous events year-round. Englewood Beach hosts the OPA National Championships in November. Lots of water sports and nature activities.
Florida real estate research by The Norris Group
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ROTONDA WEST
9.79k
15/85
64
50.7k
3.8%
8.7%
UNEMPLOYMENT RATE
POPULATION INCREASE SINCE 2010
MEDIAN AGE
MEDIAN HOUSEHOLD INCOME
POPULATION
RENT/OWN PERCENTAGE
Source: Realtors Property Resource® LLC, Census, and various online resources.
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42Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
PORT CHARLOTTE
CHARLOTTE COUNTY
Port Charlotte is an unincorporated community and census-designated place in Charlotte County. Port Charlotte is located in-between Englewood (West and North) and Punta Gorda (South). At the top of the harbor, Port Charlotte is also the home to many golf courses and the award winning Charlotte Sports Park, home of Tampa Bay Rays Spring Training as well as the Minor League high-a affiliate of the Rays, the Charlotte Stone Crabs. Though not an incorporated city, Port Charlotte has the highest population concentration in the County.
Florida real estate research by The Norris Group
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PORT CHARLOTTE
� � �
59.7k
26/74
#3
52
41.1k
#1
3.9%
5.9%
#10TOP 10 GREATEST
PLACES TO SAIL IN THE UNITED STATES BY SAIL
MAGAZINE
TARPON CAPITOL OF THE WORLD (WORLD-CLASS
FISHING)
THIRD BEST PLACE TO LIVE AND PLAY GOLF
IN AMERICA" BY GOLF DIGEST
UNEMPLOYMENT RATE
POPULATION INCREASE SINCE 2010
MEDIAN AGE
MEDIAN HOUSEHOLD INCOME
POPULATION
RENT/OWN PERCENTAGE
Source: Realtors Property Resource® LLC, Census, and various online resources.
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44Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
PUNTA GORDA
CHARLOTTE COUNTY
Punta Gorda ("Fat Point") has been on maps at least since 1851, referring to a point of land that juts into Charlotte Harbor, an estuary off the Gulf of Mexico. It was in the late 1800s that early settlers began to arrive in what is the present-day Punta Gorda area. As the only incorporated city of Charlotte County, Florida, Punta Gorda is the vibrant engine of the area. It boasts wonderful restaurants, marinas and a pace of life that people from around the world come to enjoy.
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PUNTA GORDA
� � �
18.7k
20/80
#1
67
57.8k
#1
3.9%
12.3%
#2PER CAPITA NET WORTH
IN FLORIDA 2019FASTEST GROWING
RETIREMENT HOTSPOT (REALTOR.COM 2019)
TOP 10 U.S. CITIES TO BUY YOUR FOREVER
HOME (REALTOR.COM 2019)
UNEMPLOYMENT RATE
POPULATION INCREASE SINCE 2010
MEDIAN AGE
MEDIAN HOUSEHOLD INCOME
POPULATION
RENT/OWN PERCENTAGE
Source: Realtors Property Resource® LLC, Census, and various online resources.
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46Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
SARASOTA COUNTY
On Florida's west coast between Tampa to the north and Ft. Myers to the south, Sarasota County is between Manatee County (north) and Charlotte County (south) and is located on the Gulf of Mexico.
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SARASOTA COUNTY
� � �
418k
22/78
#1
45.0
55.2k
3.1%
11.3%
FLORIDA'S #2 FOR NET WORTH PER CAPITA
(SMARTASSET)
UNEMPLOYMENT RATE
POPULATION INCREASE SINCE 2010
MEDIAN AGE
MEDIAN HOUSEHOLD INCOME
POPULATION
RENT/OWN PERCENTAGE
Source: Realtors Property Resource® LLC, Census, and various online resources.
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48Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
Net Migration Flow – Sarasota County, FL
Source: U.S. Bureau of the Census, Net Migration Flow for Sarasota County.
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
2009 2010 2011 2012 2013 2014 2015 2016
Recession Charlotte County
Population by Age – Sarasota County
110,10
6
110,41
8
109,44
8
108,79
8
109,65
0
111,22
8
112,90
5
113,58
8
118,73
7
121,32
2
126,09
4
130,42
4
135,24
2
140,51
1
146,18
0
151,29
9
379,944 382,263 386,647 390,270 396,779 405,148 412,879 419,119
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
2010 2011 2012 2013 2014 2015 2016 2017
<5 years 5 to 13 years 14 to 17 years 18 to 24 years
25 to 44 years 45 to 64 years 65 years and over Total
Yr. Growth1.5%3.5%0.6%0.7%‐0.8%0.3%0.4%0.1%
POPULATION
UNEMPLOYMENT
SARASOTA COUNTY DEMOGRAPHICS
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Sarasota County Migration Trends
In‐State Inflow Out‐of‐State Inflow Rank County Total Rank State County Total
1 Manatee County 3,687 1 IL Cook County 380
2 Charlotte County 2,128 2 NY Suffolk County 193
3 Hillsborough County 647 3 CT Hartford County 182
4 Lee County 475 4 MA Middlesex County 174
5 Pinellas County 437 5 MI Oakland County 173
6 Broward County 308 6 CT Fairfield County 161
7 Miami‐Dade County 302 7 FR Foreign ‐ Overseas 147
8 Orange County 274 8 OH Franklin County 141
9 Palm Beach County 205 9 NY New York County 135
10 Collier County 199 10 TX Travis County 127
11 Pasco County 177 11 VA Fairfax County 121
12 Polk County 121 12 PA Allegheny County 116
13 Seminole County 105 13 NY Westchester County 115
14 DeSoto County 96 14 IL DuPage County 113
15 Monroe County 92 15 NJ Monmouth County 109
16 Duval County 90 16 CA Los Angeles County 109
17 Leon County 82 17 OH Cuyahoga County 108
18 Brevard County 79 18 NY Nassau County 108
19 Marion County 73 19 NJ Bergen County 107
20 Alachua County 73 20 MA Plymouth County 107 Source: IRS Individual Master File, Statistics of Income, October 2017
MIGRATION TRENDS
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50Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
Employment Percentage Comparison Sarasota
Source: US Census Bureau.
4.3%
4.4%
4.6%
4.7%
4.7%
6.1%
7.2%
13.0%
14.4%
16.0%
5.0%
3.9%
2.9%
3.7%
4.2%
4.5%
6.2%
10.9%
12.7%
17.0%
6.1%
3.1%
3.6%
6.3%
3.9%
4.0%
6.0%
9.3%
10.2%
15.4%
Education, Training, and Library Occupations
Building and Grounds Cleaning and MaintenanceOccupations
Personal Care and Service Occupations
Production Occupations
Installation, Maintenance, and RepairOccupations
Construction and Extraction Occupations
Healthcare Practitioners and TechnicalOccupations
Food Preparation and Serving RelatedOccupations
Sales and Related Occupations
Office and Administrative Support Occupations
US % Florida % Sarasota County
Unemployment Rate History: Sarasota County 3.1%
Source: US Census Bureau.
3.1%
0%
2%
4%
6%
8%
10%
12%
14%
Jan‐90
Dec‐90
Nov‐91
Oct‐9
2Sep‐93
Aug‐94
Jul‐9
5Jun‐96
May‐97
Apr‐9
8Mar‐99
Feb‐00
Jan‐01
Dec‐01
Nov‐02
Oct‐0
3Sep‐04
Aug‐05
Jul‐0
6Jun‐07
May‐08
Apr‐0
9Mar‐10
Feb‐11
Jan‐12
Dec‐12
Nov‐13
Oct‐1
4Sep‐15
Aug‐16
Jul‐1
7Jun‐18
Recession Sarasota County Florida US
SARASOTA COUNTY DEMOGRAPHICSEMPLOYEE %
UNEMPLOYMENT
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Median Household Income
Source: Federal Reserve Bank of St. Louis, US Census Bureau.
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Recession Sarasota County Florida US
Homeownership Rate
Source: US Census Bureau.
60%
65%
70%
75%
80%
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Recession Sarasota Florida US
Vacancy Rate
Source: US Census Bureau.
0%
5%
10%
15%
20%
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Recession Sarasota Florida US
MEDIAN HOUSEHOLD INCOME
HOMEOWNERSHIP RATE
VACANCY RATE (COUNTY NA)
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52Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
Land Prices
Source:.MLS.
$39,85
4 $55,40
3
$55,78
8
$29,04
3
$27,85
7
$7,112
$8,727
$7,542
$5,326
$7,376
$8,638
$12,54
3
$12,50
2
$13,59
6
$15,12
7
$38,50
0 $56,00
0
$65,00
0
$30,00
0
$25,00
0
$7,500
$5,000
$5,000
$45,00
0
$6,000
$5,700
$10,25
0
$12,00
0
$12,50
0
$14,50
0$0
$10,000$20,000$30,000$40,000$50,000$60,000$70,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Average Sold Price Median Sold Price
LAND PRICES
New Private Housing Structures Authorized by Building Permits for Sarasota County, FL
Source: U.S. Bureau of the Census, New Private Housing Structures Authorized by Building Permits for Sarasota County, FL [BPPRIV012071], retrieved from FRED,
0
2,000
4,000
6,000
8,000
10,000
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Recession Sarasota County
SARASOTA COUNTY REAL ESTATE
NEW PRIVATE HOUSING BY PERMIT
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SARASOTA COUNTY CRIME MAP
Crime Index
124
3327
147 7
18
210 11
4052
40
80
51
0102030405060708090
Riverside
San Be
rnardino
Oran
ge
San Diego
Los A
ngeles
Bakersfie
ld
Fresno
San Jose
San Fran
cisco
Sacram
ento
Fort M
yers
Cape
Coral
Punta Go
rda
Port Cha
rlotte
Rotond
a West
North Po
rt
Crime by type
0 10 20 30 40 50 60 70
Riverside
San Bernardino
Orange
San Diego
Los Angeles
Bakersfield
Fresno
San Jose
San Francisco
Sacramento
Fort Myers
Cape Coral
Punta Gorda
Port Charlotte
Rotonda West
North Port
California
Florida
NationalProperty Crime Rate per 1,000
Violent Crime per 1,000
CRIME BY TYPE
CRIME INDEX: SAFER THAN...
Sarasota County
Sarasota County
Source: neighborhoodscout.com
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54Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
NORTH PORT
SARASOTA COUNTY
North Port, located between Tampa and Fort Myers, neighbors Sarasota County's cultural arts scene and renowned beaches. Within the city, residents and tourists can enjoy a myriad of outdoor recreational activities offered by the area’s natural surroundings including the Myakkahatchee Creek and Myakka Forest and River. The city is home to the North Port Art Center and North Port Performing Arts Center which offer a wide range of arts and entertainment for the community. Forbes ranked it one of the fastest-growing cities in the US in 2018. Known for great schools. More development bringing in jobs and more infrastructure.
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NORTH PORT
62.5k
26/74
46
#13
54.7k
3.4%
#1
14.7%
UNEMPLOYMENT RATE
SARASOTA RANKED BEST PLACE TO RETIRE
(US NEWS 2018)
POPULATION INCREASE SINCE 2010
MEDIAN AGE
FASTEST GROWING CITY IN AMERICA 2018
(FORBES)
MEDIAN HOUSEHOLD INCOME
POPULATION
RENT/OWN PERCENTAGE
�#1
CITY FOR YOUNG ENTREPRENEURS
(MONEYRATES)
Source: Realtors Property Resource® LLC, Census, and various online resources.
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Source: Yelp.com
57 F L O R I D A I N V E S T I N G © T H E N O R R I S G R O U P
THE HOMES
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DRIFTWOOD
ELEVATION A
1578 PLAN
ELEVATION B
ELEVATION C
1578 PLAN
Florida real estate research by The Norris Group
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BEDROOM 3
BATH 2
DINING
FOYER
GARAGE
LAUNDRY
KITCHEN
GREAT ROOM
MASTERBATH
COVERED LANAI
MASTERBEDROOM
BEDROOM 2WIC
CARPET (OPT TILE)
TILE
TILE
TILE
CONC.
TILE
TILE
TILE
TILE
CONC. (OPT PAVERS)
CARPET (OPT TILE)
CARPET (OPT TILE)
OPT
WO
PT D
MIC
RO
RANG
E
WIC
OPT REFPANTRY
DW
PORCH
CONC. (OPT PAVERS)
OPT
CABS A
BV
OPT NICHE
OR SEAT
OPT TRAY CEILING
OPT TRAY CEILING
OPTIONAL
TRAY CEILING
OPT
IONAL
(3) 3020 T
RANSO
MS
OPTIONAL
FRENCH DOORS
OPT TRAY CEILING
OPT
WALK-IN
SHOWER
1578 PLAN
#1578190125
DRIFTWOOD
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60Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
DRIFTWOOD
Florida real estate research by The Norris Group
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SEABREEZE
ELEVATION A
ELEVATION B
ELEVATION C
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62Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
SEABREEZE
BEDROOM 3
BATH 2
PORCH
FOYER
GARAGE
LAUNDRYROOM
KITCHEN
GREAT ROOM
MASTERBATH
COVERED LANAI
DINING
MASTERBEDROOM
BEDROOM 2
WIC
CONC. (OPT. PAVERS)
CARPET (OPT. TILE)
TILE
TILE
CONC.
TILE
TILE
TILE
TILE
CONC. (OPT. PAVERS)
TILE
CARPET (OPT. TILE)
CARPET (OPT. TILE)
OPT TRAY
CEILING
OPT TRAY CEILING OPT TRAY CEILINGOPT
WALK-IN
SHOWER
OPT 50 FRENCH DOOR
OR 50 BARN DOOR
OPT
WO
PT D
OPT
. CABIN
ETS
OPT NICHE
OR SEAT
PANTRY
OPT
REF
RANG
E
MIC
RO
OPTIONAL SCREEN
ENCLOSURE W/ DOOR
BEDROOM 4
CARPET (OPT. TILE)
OPT TRAY CEILING
OPTIONAL EXTENDEDCOVERED LANAI
CONC. (OPT. PAVERS)
LINEN
DW
OPT
SIN
K
WIC
OPT
IONAL
(3)3
020 F
X
1808 PLAN
Copyright c Dalton Group LLC 2018 - All Rights Reserved#1808190125
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SERENITY
ELEVATION A
ELEVATION B
ELEVATION C
1682 PLAN
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64Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
SERENITY
BEDROOM 3
BATH 2
PORCH
DINING
FOYER
GARAGE
LAUNDRYROOM
KITCHEN
GREAT ROOM
MASTERBATH
COVERED LANAI
DEN
MASTERBEDROOM
BEDROOM 2
WIC
CONC. (OPT. PAVERS)
CARPET (OPT. TILE)
TILE
TILE
TILE
CONC.
TILE
TILE
TILE
TILE
CONC. (OPT. PAVERS)
TILE
CARPET (OPT. TILE)
CARPET (OPT. TILE)
OPTIONAL TRAY CEILINGOPTIONAL TRAY CEILING
OPTIONAL
WALK-IN
SHOWER
OPTIONAL
50 FR DOOR
OR 50 BARN DOOR
OPT
WO
PT D
OPT
. CABIN
ETS
OPT NICHE
OR SEAT
PANTR
Y
OPT
REF
.
MIC
RO
RANG
E
OPTIONAL SCREEN
ENCLOSURE W/ DOOR
OPT
3080OPT
CONC.
DW
CHEFKITCHEN
TILE
HO
OD
CO
OKT
OP
DRAW
ERS
DO
OPT
REF
.
DW
OPTIONAL 8' POCKET SGD
AT GREAT ROOM
1682 PLAN
Copyright c Dalton Group LLC 2018 - All Rights Reserved
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THE DUPLEX
ELEVATION A
c
ELEVATION B
c
ELEVATION C OPTIONAL STONE (AVB
ON ANY ELEVATION)
c
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66Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
THE DUPLEX
BEDROOM 3
BATH 2
PORCH
M. BATH
COVERED LANAI
MASTERBEDROOM
BEDROOM 2
WIC
CONC (OPT. PAVERS)
CARPET (OPT. TILE)
TILE
TILE
CONC. (OPT. PAVERS)
CARPET (OPT. TILE)
CARPET (OPT. TILE)
CARPET
PORCH
CONC (OPT. PAVERS)
BEDROOM 3
CARPET (OPT. TILE)
FOYER
TILE
BEDROOM 2
CARPET (OPT. TILE)
DINETTE
TILE
GREAT ROOM
TILE WIC
CARPET
M. BATH
TILE
BATH 2
TILE
MASTERBEDROOM
CARPET (OPT. TILE)
COVERED LANAI
CONC. (OPT. PAVERS)
OPTIONAL
WALK-IN
SHOWER
OPTIONAL SCREEN
ENCLOSURE W/ DOOR
OPTIONAL SCREEN
ENCLOSURE W/ DOOR
OPT
WALK-IN
SHOWER
GARAGE
CONC
OPT TRAY CLG
OPTIONAL TRAY CLG
OPTIONAL TRAY CLG
OPTIONAL TRAY CLG
LAUNDRY
KITCHEN
TILE
REFRANGE
MICRO
DW
PANTRY
GARAGE
CONC
FOYER
TILE
DINETTE
TILE
GREAT ROOM
TILE
OPT TRAY CLG
OPTIONAL TRAY CLG
LAUNDRY
KITCHEN
TILE
OPT
WASH
OPT
DRY
REF RANGE
MICRO
DW
PANTRY
TILE
OPT
WASH
OPT
DRY
TILE
c
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FEATURES
Plans, Dimensions and Manufactures are subject to change without any no�fica�on or obliga�on. These renderings are ar�stsdiffer from the completed improvements. Copyright 2019 Dalton Group LLC All Rights Reserved. 02/06/2019
INCLUDED INSIDE HOME
Sentricon®cTermite Treatment
PEX®cPlumbing System
Smoke and Carbon Monoxide Detectors
9’-4” Ceiling Height First Floor
Skip Trowel Textured Ceilings and Walls
Birch Recessed Panel Cabinets Throughout
House w/36” Upper Cabinets
3-1/4" Baseboards and 2-1/4" Casing
Raised Panel Garage Door
Garage Door Opener
Kwikset® Satin Chrome Finish Interior Door
Hardware
6’-8” Interior Doors
Dead-Bolt Lock on Front Entry
Kwikset®-Front Door handle with Chrome
Finish
Progress Lighting® Selected Light fixtures
at Foyer/Hall, Dining Room/ Nook
18x18 Tile in Foyer, Great Room, all baths,
kitchen/nook/laundry
Stain Resistant Carpet in Bedrooms & Closets
Sherwin-Williams® Interior Flat Paint
Closet Maid® Ventilated Shelving in Closets
Solid Surface Window Sills
Window Blinds
Pre-wired for four (4) Ceiling Fans
(locations per plan)
Pre-wired for four (4) Cable Outlets
(locations per plan)
INCLUDED OUTSIDE HOME
Concrete Masonry Construction (1st Floor)
Professionally Engineered Roof Trusses with
Connectors for Hurricane and Wind Protection
Dimensional Laminated Asphalt Roof Shingles
(30 Year Warranty)
Brick Paver Driveway, Sidewalk, Lanai and
Porch
Sherwin Williams® Exterior Paint
Screens on all Operable Windows
Progress Lighting® Exterior Light Front
Elevation
Hurricane Rated Steel Shutters
Professionally Designed Landscape Package
Fully Sodded Home with Bahia Sod
(On Standard Lot)
2 Hose Bibbs
2 GFI Weatherproof Exterior Outlets
BATHROOMS
Progress Lighting®
Granite Countertops in all Bathrooms with
undermount sink
Delta® Faucets
Ceramic Tile Shower at Master Bath
Tub/Shower w/Ceramic Tile Surround in
Secondary Bath
Double Bowl Vanities in Master Bath with
undermount sink (per plan)
Single Vanity in Secondary Bath with
undermount sink
KITCHEN
Fridigaire® Appliances: Stainless Steel
Multi-cycle Dishwasher
Free-Standing Electric Range
Over the Range Microwave
Granite Countertops with Level 1 Tile Back
Splash
Stainless Steel Undermount Kitchen Sink
Insinkerator ® Garbage Disposal
Pre-plumbed for Ice Maker/Water line
INCLUDED ENERGY SAVING FEATURES
R-30 Insulation in Ceilings
Insulated Exterior Walls
White Aluminum Fascia and Soffit
w/Continuous Venting
Heat Dispersing Roof Vents
Rheem® Energy Efficient Electric Air
Conditioning
White Vinyl Framed Dual Pane Glass
Windows
Thermutru® 6’-8” Front Entry Door
Energy Efficient Exterior Door Weather-
Stripping
Delta® Faucets
Ultra Low-Flow Toilets
Low-Flow Shower Heads
50-Gallon Electric Water Heater
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68Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
FINISH PACKAGESOption A
Option B
Option C
Granite: Salt & PepperCabinetry: Hargrove EspressoFlooring: Magnisi White – Dove Gray GroutBacksplash: Warm Grey – Dove Gray Grout
Granite: New CaledoniaCabinetry: Hargrove EspressoFlooring: Magnisi Silver – Dove Gray GroutBacksplash: Warm Grey – Dove Gray Grout
Granite: Santa Ceceila ClassicCabinetry: Hargrove MochaFlooring: Magnisi Beige – Antique White GroutBacksplash: Linen – Antique White Grout
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The builder/seller is providing a workmanship and systems Defect Warranty for Your Home.
This means that Your Home will be free from Defects in materials and workmanship as defined in the Construction Performance Guidelines and free from Defects in the electrical, plumbing, and mechanical distribution system.
See the portal for a copy of the policy.
WARRANTY
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closing date on which You purchased the Home, or (2) the date anyone first began living in the Home if before Your closing date.
HomesWithOriginalFHA/VAFinancing – The Effective Date of Warranty is the date of closing of the original FHA/VA financing.
“Home” means the dwelling unit and garage (if any) or the Commercial Space (if any) located at the address shown on the Certificate of Warranty Coverage.
“Multi-Family Building” is a building in a common interest community that may consist of dwelling units, shared parking spaces, Commercial Space(s) and/or Common Elements.
“Soil Movement” exclusively means subsidence or expansion of soil caused by shrinkage, swelling, or consolidation.
“Structural Defect” is defined in Section II.B of this booklet.
“You”, “Your”, and similar words means the person or persons who are the legal owners of the Home covered by this express limited warranty.
“Warranty Insurer” is the Builder/Seller’s Warranty Insurer as stated on Your Certificate of Warranty Coverage.
“Warranty Limit” is the aggregate financial obligation of the Builder/Seller for all claims under this warranty. The Warranty Limit is equal to the final sales price of the Home as identified on the Application for Home Enrollment when the final sales price includes the land. If the land was provided by You, the Warranty Limit is equal to the final sales price of the Home multiplied by a factor of 1.25 provided this calculation was performed on the Application For Home Enrollment.
Your Builder/Seller is providing a one year workmanship and two year systems Defect Warranty for Your Home. This means that Your Home will be free from Defects in materials and workmanship for one year as defined in the Construction Performance Guidelines in Section X; and for two years Your Home will be free from Defects in the electrical, plumbing, and mechanical distribution system as stated in Section X. The workmanship warranty shall expire one year from the Effective Date of Warranty; and the systems Warranty will expire two years from the Effective Date of Warranty.
WORKMANSHIP
Examples of items typically covered under the one year workmanship warranty.
Roofing
Cabinets
CountertopsDrywall & Paint
Interior Trim
Finished Floor Surfaces
Ceramic Tile
Door Panels
Exterior Siding
Basement Floor
SYSTEMS
Examples of items typically covered under the two year systems warranty.
Electrical Wiring
Ductwork
Supply Piping
Waste Piping
Windows
Workmanship, systems and structural warranty
HBW_307_101216
smile, you know what to expect
when the unexpected happens.®
3 Starts the day the home closes
3 HUD-Approved
To register go to: 2-10.com/registerhome
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70Bruce Norris Financial Group Inc DBA The Norris Group. CA DRE #: 01219911, NMLS #: 1623669, Florida Mortgage Lender #: MLD1577
LAND PURCHASE
Land purchase can take time. 1031 exchanges need to be aware once you close escrow on land time is ticking.
ENGINEERING & PERMITS
Dalton takes plan and engineers property to meet local requirements. If using hard money, loan only comes into play at this point.
LAND PREP & SLAB
Includes scrapping, leveling, and preparing lot. Final phase is to pour slab.
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TIMELINE
Florida real estate research by The Norris Group
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DRYWALL
Including exterior block wall, interior framing, trusses, plumbing, electrical as well as heating and cooling.
CERTIFICATE OF OCCUPANCY
CO released after final inspections by municipality and all liens released.
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