SW Florida Real Estate - Mike Cathell (239) 770-6250

Baby Boomers Get Ready to Sell Now Before Retirement to Florida

Mike Cathell (Florida Future Realty) — Tue, 17 Nov 2009 08:59:30 -0600

Why get ready to sell now?

Baby Boomers are planning for their retirement soon. For the next several years, Boomers will be retiring to areas other than where they presently live. (If SW Florida, give me a call) A mistake that is made by many sellers is waiting until they are ready to sell to start preparing the home. When home prices rebound, it happens a lot faster than the decline. Sellers need to be ready quickly to assure a faster sell.

Point? Now is the time to start making those preparations. Take advantage of the slower economy to make the changes you will need. Contractors are hungry for work. Get several estimates on any repairs that may need to be done. Update anything in the house that might appear outdated to potential buyers especially kitchens and bathrooms. Kitchens and bathrooms are two rooms that will always add value to the home and recover most if not all of your investment. New water fixtures, new cabinet door pulls, new appliances and new tile can enhance the rooms dramatically. Again, watch flyers for sales. Vendors are also competing for your business right now and prices are great. Once housing prices go up, many of these deals go away.

If you aren't afraid to get yopur hands dirty, do some of the work yourself if you are still out awhile before retirement. One of the contractors I use will even work with homeowners, letting them do the demolition at the start and the painting at the end, Meanwhile, drywall and tile for instance, are done by the contractor, Advantage? All ot the work will have building permits so there will not be problems when you close and the house doesn't match what the tax assessor's office says it is supposed to look like.

Curb appeal is one of the most important things to ensure the sale of your house. Again, take the time now so the landscaping is lush and attractive when the time comes to sell. Get the lawn seeded or sodded to make lawn look good. Fix unsightly driveways and entryways. You are probably tired of me saying this, but take advantage of the slower economy for material and labor costs.

Use what is happening now to make your house a quick seller when the time comes to retire or move. Waiting for the last possible moment will put you behind your competition and possibly require you to sell at lower price. Baby Boomers, we are a "do it" generation so let's get to it!

Mike Cathell, Florida Future Realty, Inc

ePro and Baby Boomer Realtor in sunny SW Florida

Cell: (239) 770-6250 Email: MikeCathell@FloridaFutureAgents.com

Latest sales figures posted by Florida Association of Realtors

Mike Cathell (Florida Future Realty) — Wed, 28 Oct 2009 15:04:59 -0500

For the 13th month in a row sales figures in Florida have increased when compared to the same period last year. Some localized markets have even seen increase for 15 months.

Existing home sales rose 34% last month with a total of 14,419 homes sold statewide compared to 10,778 homes sold in September 2008.

Even more promising was the number of condo sales in Florida during September, 2009.

Florida Realtors also reported a 77% increase in statewide sales of existing condos in September compared to the previous year’s sales figure.

Other reported figures show an increase of 4.1% in existing home sales and an 8.9% increase in existing condo sales. Due to the increase in the number of sold bank-owned and short sale properties, the median house price dropped from $174,900 to $142,000 over the past year, a drop of 19%. The median condo price for the same period dropped from $153,500 to $102,500, a drop of 33%. Buyers need to remember these prices are distorted by all the discounted properties in the count.

We are still in a fragile market. Continued increase in sales are dependent on several factors. Mortgage interest rates must be kept affordable. The biggest factor could be whether or not the Federal government extends the First Time Home Buyers Tax Credit. The handling of this single item could have a huge impact.

Realtors, parents, high school and college graduates getting ready for the work force, neighbors and friends of anyone possibly thinking of buying should be contacting their Federal Congressmen. It seems many people have voices to complain but we need voices for good right now also. Get those emails and phone calls going!

Mike Cathell, Florida Future Realty, Inc Email: MikeCathell@FloridaFutureAgents.com

Cell: (239) 770-6250

Fort Myers, FL Buyers Need to Hurry if they want "A Deal"

Mike Cathell (Florida Future Realty) — Tue, 27 Oct 2009 13:10:55 -0500

Recently, John Burns Real Estate Consulting took a survey of several home builders in different regions of the US. The highlights were posted on RISMedia.com on October 21, 2009. Later, I will post a link allowing you to see the entire article but obviously, I am interested in my area, SW Florida.

I have been emailing, calling and leaving Social Media messages for my prospects about the importance of being aggressive in this current market. Now, I have a "bigger" authority to send to back up what I have been saying - "Don't wait! Buy Now!"

The following parts of this survey really struck a chord with all of us working with Buyers and Sellers in the Fort Myers and Cape Coral markets:

59% of this year’s sales have been dependent on FHA, VA or USDA financing programs with 96.5% to 100% LTV.
SW Florida Builders reported the highest % of cash sales in the nation
Significant declines in available inventory
Pricing is increasing
South Florida reported the highest number of new home starts in the nation

Many investors both locally, nationally and internationally are again turning to SW Florida for value pricing and inventory. Hopefully tougher loan qualification and the larger number of cash sales will keep the market from ever experiencing the mess that got us here. There will always be greed and speculation in any market. It is up to the professionals in the Real Estate and Mortgage Specialties to help our clients ethically and intelligently.

If you would like to read the entire summary and see how your region is doing, click here.

Mike Cathell, Realtor with Florida Future Realty, Inc

Cell: (239) 770-6250 Email: MikeCathell@FloridaFutureAgents.com

Chinese Drywall Is It Everywhere Like Buyers Fear?

Mike Cathell (Florida Future Realty) — Wed, 21 Oct 2009 09:47:44 -0500

I was showing several houses last week to two different customers. In both cases, the houses were short sales. As with many short sales they shared several characteristics - abandoned, no electricity, missing some appliances and a distinctive odor hit you when you walked through the front door. Both clients had the same reaction, "That must be Chinese drywall".

First client did smell something. It was not defective drywall, it was mildew. Second house, same reaction from customer. Again, also not defective drywall. A barbeque grill was left in the laundry room. Smell was burnt charcoal. Two things happened on both of these houses that worry me. The first was that buyers think everything that looks or smells "different" is Chinese drywall.

On other showings, customers are pulling screwdrivers out to check under wall outlets for black ground wires. Others look at the disintegrating metal shower and bath fixtures, also a sign of possible defective drywall. The problem, these people are pulling information from the internet or "hearsay" from friends. The things they are looking at are possible signs of defective drywall, but they are also the sign of other things. I live in a county where many homes are on wells because the city water lines are not in their neighborhoods. I am not talking one or two but thousands of homes are on well water. In Florida, sulfur content is very high in the well water in many areas. My home for example is on well water but I am not in any danger of defective drywall. But, I have disintegrating water fixtures, some tarnished ground wires and a distinctive "bad egg" smell if I fall behind on tending to my well and softening equipment.

If you check back on my other blogs, you will see I have spent a lot of time researching defective drywall. It has almost become an obsession. Did you know there are over 100 wrong ways to remediate defective drywall? Did you know that solutions run the entire gamut of just seal the walls to knock the house down, replace all the drywall to replace anything with a porous nature, like wood, furniture and clothes. There are some developers trying to help but that will stop when their insurance stops. Other builders and developers say it is past warranty and it is now the homeowners problems. Homeowner's insurance, forget about it.

Over 26 states are affected and we need to work together on this. I will be posting some of my research later. Inspectors and Realtors, comment on what is happening in your area to standardize or remove this detriment.

Mike Cathell, Florida Future Realty, Inc. Cell: (239) 770-6250

Email: MikeCathell@FloridaFutureAgents.com

Spiderman vs. Chinese Dry Wall – Part 2 -Who is this news breaking Hero?

Mike Cathell (Florida Future Realty) — Mon, 19 Oct 2009 11:04:54 -0500

Look in the sky…It’s a bird, it’s a plane …it’s...wait, that’s a different fantasy super-hero. In an earlier post, I discussed how my research on Chinese dry wall led me to emails and phone calls to another hero of the housing industry, forensic investigator Spiderman Scott Mulholland. The announcements he will be making at a public forum on October 24 will shake the world on Chinese dry wall. So as they say in the movies, “Who is this mystery man?”

Info from his website:

Spiderman S. Mulholland, CMA, EDIC, CIEC

(Certified Indoor Environmentalist Consultant)

Chief Executive Officer

Over 4000 building envelope investigations for construction failures, latent defects, water intrusion, toxic molds, and associated building cladding and roofing failures
22 years of experience in the construction industry primarily in commercial buildings
15 years of experience as construction litigation expert witness
Construction consultant in approximately 200 litigations and expert testimony in over 10 cases
National certification in Exterior Design Institute, Indoor Air Quality Council, Certified Moisture Intrusion and Analysis along with a multiplicity of certifications from the University of Wisconsin College of Engineering
Involved with over three billion in construction projects as the building envelope consultant for developers and contractors
Proudly served in the USMC as a sniper and reached the rank of Sergeant

Ok, so that’s what the website tells us but my phone conversations told me much more about the real person behind the above bio. Spiderman is a deeply religious family man with a deep passion to help people. His personal motto has become his company’s mission statement – to develop solutions for people’s problems.

Spiderman Mulholland and his teams have spent thousands of hours and hundreds of thousands of dollars in research about Chinese dry wall. This intense study was based on his tremendous desire to help his family, his neighbors, his industry and countless others he does not even know. Most importantly, his countless hours has led up to a forum with the largest collection of experts on Chinese dry wall ever assembled in Orlando on October 24. News breaking announcements on remediation and investigative certifications will be released. Anyone in the construction, real estate or inspection business or anyone who owns a home built between 2001 and 2006 should have their sights set on this forum. Later I will be posting specifics about this amazing forum. Don’t miss it!

Click here for forum info

Mike Cathell, Florida Future Realty, Inc Email: Mailto:MikeCathell@FloridaFutureAgents.com

Cell: (239) 770-6250 Web site: FLCoastRealtor.homestead.com

Spiderman vs. Chinese Dry Wall – an epic battle of the Housing Industry!

Mike Cathell (Florida Future Realty) — Mon, 19 Oct 2009 07:37:31 -0500

Sorry, this is not a series about a Super hero defeating his arch nemesis who happens to be a flat Asian villain. But this story will be a news worthy story of Super hero importance to anyone affected by Chinese or defective dry wall.

Working in the Fort Myers/Cape Coral, an area that leads the country in foreclosures, we have hundreds of empty spec homes that were built during the height of the boom. The boom also brought something else to the forefront – Chinese dry wall. It seems everyone in Lee County has either been directly affected by the defective dry wall or knows someone else who has been touched by this problem.

Watching large developments being abandoned and driving past dozens of empty spec homes led me on a search for more information about what seemed to be the “villain” of the 21^st century housing market. I ran across hundreds of articles online about remediation, everything about knock the house down to just seal up the walls and it will be okay. Many of these “solutions” were based on speculation and “educated guesses”. The only consistency I found in actual scientific research kept leading me to a forensic investigator in Florida, Spiderman Scott Mulholland.

I contacted a member of his company, U.S. Building Consultants Inc., asking permission to quote one of his blogs. Not only did she respond quickly with a thumbs up, but Spiderman Mulholland also emailed an okay. Over the next few weeks, we exchanged several emails and had several hour long phonecalls discussing the scientific research about this “villainous menace”.

Here’s the exciting part of this epic battle, Spiderman is going to make several announcements about a HUGE break-thru in remediation based on scientific research at a public forum being held in Orlando, FL on October 24. But just like the heroic adventures in the old nickelodeon theaters, you need to come back again for the next part of this exciting, news-breaking announcement.

I will be posting a series of blogs on this important announcement. Subscribe to my blog for up to the minute updates or email me for info.

Mike Cathell, Florida Future Realty, Inc Email me: Mailto:MikeCathell@FloridaFutureAgents.com Cell: 239- 770-6250 Forum info: http://www.besinstitute.com/

Neighborhood Stabilization Programs in Cape Coral, FL

Mike Cathell (Florida Future Realty) — Fri, 02 Oct 2009 10:44:56 -0500

Recently, the local newspaper, The Fort Myers News Press, had an article about the Neighborhood Stabilization Program. This program uses Federal Grant money to help first time home buyers with the needed downpayment to buy a house. The program also targets neighborhoods needing a rejuvenation program, in this case, parts of Cape Coral.

Most of the comments on the online site are very negative. "A drop in the bucket" seems to be a very popular phrase in the comments. Most of the comment writers talk about unemployment, renters and investors but not about the true purpose of this program - help families buy their first home to start building neighborhoods again.

The program has enough money to help approximately 85 families with downpayment assistance in a localized area of Cape Coral. Investors are not eligible for this program because if the buyer does not live in the house for 5 years, then the grant must be payed back to the government. Its use is to get actual homeowners living in their own houses (wow, what a concept!).

I have shown houses in these neighborhoods where in some instances 2 out of 5 houses are abandoned. I consider it an important move to put families in 85 of them. Any activity, no matter how little, is better than no activity. It is easier to sell a house in a neighborhood with new activity. There is activity as yards get cleaned up and landscaping is being done. Air conditioning technicians and contractors are working on the houses making them livable. Furniture trucks are delivering new appliances and living room furniture. Moving vans have boxes going into a house rather than taking it away.

Yes, i understand the critics, it is a drop in the bucket. But the way i see it, drops add up. I have a catch basin at my house that captures raindrops, drips from my roof and the morning dew. At first, there are only drops. Then more drops are added to those drops. Eventually I have a filled bucket to water the plants in my yard. Maybe it's my imagination, but many times when I use this collection of drops, it rains on my yard!

Living in a "depressed" area, I am thankful for any program, no matter how small, that gets activity. Drops eventually do add up and we all enjoy the "new water"!

Mike Cathell, ePro Realtor Florida Future Realty, Inc. Cell: (239) 770-6250

Email: Mailto:MikeFlFuture@gmail.com Web site: http://FLCoastRealtor.homestead.com

Did they mean "hassle" or "haggle" about Fort Myers properties?

Mike Cathell (Florida Future Realty) — Thu, 10 Sep 2009 10:10:11 -0500

In a recently released article, CNNMoney.com used research supplied from Zillow.com saying the best place to "haggle for home prices" was Florida. While this is true in a few markets (they named four areas), us in SW Florida aren't seeing it this way. The areas where this is working have an abundance of luxury homes that are still over-priced, even in this market.

I have spent countless hours educating customers that this is definitely a buyers' market, but an "intelligent" buyer's market. Why would a buyer think they are the only ones looking for a great deal. If their agent is really watching the market for them, they are aware of a new listing that is a good deal. But are they naive enough to believe they are the only ones spotting that house today? Some don't even believe it when we are sitting in the van, in line, waiting for our turn to look at the house.

In my experience, these deals only last a few days and due to current practices by some banks and listing agents, the agent will take offers for several days to find the "highest and best price" for this listing. If I got paid every time I had a listing agent tell me there were multiple offers, I could have retired this year a wealthy man.

In the Fort Myers/Cape Coral market, our customers need to be aggressive with offers. "Low balling" to start a conversation is a waste of time here. Many of the listings in the botton half of the listing prices are selling for listing price or even higher than listing price. Giving a low offer just frustrates the customer and the agents. Even if it is against our advice, customers still hear about all the "great deals" the media throws out there. Yes, as the media reported, we did have a three bedroom, 2 bathroom house sell for $25,000. What they forgot to tell you, it was a marijuana grow house that was completely gutted inside and is in a very unsafe neighborhood. More importantly, it was the ONLY one and it's GONE! All of the houses in SW Florida are not priced this way.

Buyers need to be realistic. Haggling gets you no where in the mid to low price range houses. Come in strong, with financing in place or cash in hand. You are not the only "smart" investor to be working this market! Remember, the media makes money selling news, not selling houses.

Mike Cathell Florida Future Realty, Inc Email: Mailto:MikeCathell@FloridaFutureAgents.com

Cell: (239) 770-6250 Web site: http://FLCoastRealtor.homestead.com

Is Virtual Staging Fair to Prospective Buyers?

Mike Cathell (Florida Future Realty) — Tue, 01 Sep 2009 07:07:25 -0500

Picture on Multiple Listing Service

What the Buyer sees when you drive up!***

***(For those of you that don't get it - the pictures are a joke!)

I've been reading more and more about the use of Virtual Staging for abandoned houses. Virtual staging is a computer process that adds furniture, accessories and window treatments to pictures in a listing of an abandoned house.

I always explain to my customers that the house we will be visiting usually does not look like the pictures on the Multiple Listing Service. Very often, the pictures were taken before the house was abandoned and it shows furniture, clear water in pools and manicured lawns. We pull up to a house with two foot high grass and weeds. Doors, fans, plumbing fixtures and appliances have been stripped from the house.

Virtual staging can misrepresent a house even more. Furniture can be sized to make the room appear larger. Large pieces of furniture can be scaled down to make the dimensions of the room appear larger. Ceiling fans, light fixtures and appliances can be digitally placed in the proper place. The prospective buyer is very disappointed when arriving at a trashed, abused house.

I am not saying we should show every crack or chip in our listing pictures. I just feel a more realistic picture should be represented. "TLC" is starting to mean there is $40,000 worth of repair work needed. A "handyman special" is just a step above a knockdown. At least make better descriptions in the Realtor comment section on the listing.

Please let me know how you feel about virtual staging and current pictures on the Multiple Listing Service. Make this an informal poll - don't be afraid to voice in with a comment.

Mike Cathell Florida Future Realty, Inc Mailto:MikeCathell@FloridaFutureAgents.com

Cell: (239) 770-6250 Visit me on the web: http://FLCoastRealtor.homestead.com

Renter Protection from Foreclosure

Mike Cathell (Florida Future Realty) — Mon, 24 Aug 2009 09:32:29 -0500

One of the largest fears renters have in this market is the fear of being kicked out of the house they are renting because the landlord does not tell them the property is in foreclosure. The Helping Families Save their Homes Act was recently signed into effect by President Obama. This act protects renters by requiring new owners of a foreclosed property to honor the existing lease or to give the renters 90 day notice to move if the new owner wants to move into the property themselves.

I have received many calls the last couple of years from renters wanting to know what their options were if the house were sold at auction or as a short sale. many property owners in the foreclosure were not telling their renters about the foreclosure because they did not want to lose the rental income. renters found themselves being evicted since they were not forewarned by the delinquent property owner. Now, more peace of mind is being given these families.

There are a few restrictions to this new law. The lease had to have been in effect before the property owner went into foreclosure. The tenants cannot be related to the property owner through marriage or direct family relationships. Plus, the tenants must not be paying a substanially lower rent than current fair market values for the area. The only exception are families on a government subsidized rent program.

This program can also benfit investors in a slow rental market. Keeping the current tenant, rather than hunting for new tenants, is a win-win situation for both parties. The investor does not have the costs involved with finding a tenant as well as the possibility of carrying costs if the rental sits empty. The renters are not forced to put their families through the hassle and agravation of another move. This program will hopefully keep families in their rentals, will decrease the number of abandoned homes and bring some peace of mind to communities during these hard economic times.

Mike Cathell Florida Future Realty, Inc

Email: MikeCathell@FloridaFutureAgents.com Cell: (239) 770-6250

Neighborhood Pride Helping to Sell More Homes

Mike Cathell (Florida Future Realty) — Fri, 21 Aug 2009 11:11:03 -0500

Before

Recently, I read an article about people starting "Take Pride in Cape Coral" group in SW Florida. Everyone hears about the neighborhood blight left in the wake of the foreclosures - overgrown lawns, trash built up in driveways and vandalism to abandoned houses. A group in Cape Coral has decided to take action. The city has an online site to report abandoned homes. Code enforcement and volunteering neighbors then take their personal time and equipment to mow lawns and get trash removed. In one are, the neighbors even boarded up the windows to prevent vandalism and break-ins.

"Taking pride" has done some wonderful things for the neighborhood. Unsightly houses and lawns are disappearing. This adds value to the homes of the existing owners not selling their homes. More importantly, it makes it easier for Realtors to show these homes and get new homeowners in the neighborhood, reducing the number of abandoned and empty homes.

On a different note, I believe this project also draws neighbors together. You get to meet new neighbors as well as renew relationships with existing neighbors. It gives the new homeowners a chance to meet their new neighbors. Community is coming back to the neighborhoods.

The article hung with me over night and the next day I decided to take action also. I have begun contacting businesses and service organizations in the neighborhood where I live and work. I want my community back (and I'm the one who wants to sell it to new homeowners!). I would like to hear ideas and programs other realtors are implementing or participating in to bring back the "Neighborhood Pride". If I get enough responses here, I'll start a good news web site for everyone to post good news.

Don't be stingy! Please leave ideas and/or comments. Let's Take Pride in our profession and our neighborhoods!

And After, What a difference a little landscaping makes! (Yea, right)

Mike Cathell Florida Future Realty, Inc

Email: MikeCathell@FloridaFutureAgents.com Cell: (239) 770-6250

Houses Sales Increasing in SW Florida - Worth Repeating!

Mike Cathell (Florida Future Realty) — Tue, 18 Aug 2009 14:13:44 -0500

Recently, Susan Milner, my Broker at Florida Future Realty, Inc. and other Real Estate Professionals were quoted in an article on Inman News. I felt the article was worth mentioning again because it created a lot of dialogue both online as well as among my peers at our meetings. (If you haven't seen it, check it out: Susan Milner).

One of the items that appears to make people skeptical is the number of homes selling in SW Florida and where this is creating another "Bubble". Since January 1, 2009, over 12,596 houses and condos have sold in Lee County, Florida alone according to the Fort Myers and Fort Myers Beach Board of Realtors. Many of these are cash sales and many are investors coming into the market again. These investors seem to bother people. I say "Thank You".

As in many communities, there is an abundance of abandoned homes and these homes are deteriorating. Lawns are unkempt and growing wild. The past owners have disappeared and code enforcement can leave warnings every week and they do not get delivered. With the purchase of these homes, code enforcement now has someone to get the lawn in shape.

For investors looking to rent the property, the houses and condos must be cleaned and repaired. This creates jobs in a tough job market. For the owners losing their properties, it creates a rental in their area for their family until they get back on their feet. For other homeowners in the area, it makes the neighborhood a more pleasant place to live.

It is also bringing back income to Realtors, lenders, title companies, appraisers, inspectors, contractors, moving companies, landscapers and any other house related business I may have forgotten. And believe it or not, when our income increases, so does our spending. Where do we spend that money? In our communitires of course! So again, I say "Thank You!" to those buying the houses and condos in SW Florida!

Mike Cathell

Florida Future Realty, Inc Email: MikeCathell@FloridaFutureAgents.com Cell:(239) 770-6250

Our office closes short sales - maybe that's why we love our buyers and sellers.

Baby Boomers Using Investments to Invest in Retirement Homes

Mike Cathell (Florida Future Realty) — Tue, 30 Jun 2009 10:10:26 -0500

Baby Boomers have been through many financial ups and downs. These experiences have turned many Boomers into "Safe" Investors. Being safe means putting your money in IRA's and Baby Boomers are the largest holders of over two trillion dollars in investment accounts (according to the Investment Company Institute). What they are not taught is this investment money can be used to own the oldest type of investment - Real Estate!

At this point I will put in the disclaimer, I am a Realtor, not a financial planner, accountant or attorney. These type of transactions are governed by many federal guidelines and regulations. But what many of these investors are not told is that IRA monies can be used to purchase real estate. Smart investors know the old adage, "Buy Low, Sell High"! Real Estate is one of those investments that can be bought reeeeeeeally low right now.

As I've mentioned many times before, Baby Boomers are about to start a huge migration to Florida! With that move, new homes will be needed but what will the price be two years, five years or ten years from now when it's time to retire? Smart Baby Boomer investors are using present investments to ensure a comfortable retirement. What could make a retiree more comfortable than knowing their retirement home was purchased at a bargain. Even better yet, paid for by the time you retire.

One way is for the IRA to own the real estate as part of the IRA. Doing this does not allow you or your family to live or work in the owned real estate. All the income earned from the property must go back into the IRA and all of the federal and state guidelines for IRA's must be followed including appointing a property manager. The second way, is to establish a self-directed IRA and purchase real estate outside of the IRA. Now your family can reside in the house plus take all the tax advantages allowed to a home owner. A vacation home that will eventually become your retirement home is just one possibility. You can have joint ownership with other investors to buy commercial properties, for example, owning an office building and leasing an office back to yourself.

SW Florida is one of the areas hit hard by the drop in housing prices. Baby Boomer investors need to start planning for the upcoming retirement years now. Time to make the vacation home turned retirement home a reality now!

Remember consult correct professionals to help with these types of transactions.

Mike Cathell, Baby Boomer Realtor

Florida Future Realty, Inc Ft. Myers, FL

Cell: 239-770-6250 Email: MikeCathell@FloridaFutureAgents.com

Baby Boomers Bringing Back Bountiful Business (in Ft. Myers, FL)

Mike Cathell (Florida Future Realty) — Wed, 10 Jun 2009 12:54:34 -0500

I tried to keep the "B" thing going but just could not make it work with Fort Myers Real Estate! Who are the Baby Boomers and why are they bringing business to Fort Myers, FL?

According to the US Census Bureau, the term Baby Boomers refers to the approximatemy 78 million Americans born between 1946 and 1964 . This large group is probably the last generation to believe Florida is where you go when you retire. Why places like Fort Myers? This group, of which I am part of by the way, wants to retire to a simpler, easier to maintain lifestyle. It doesn't get more simpler for Baby Boomers than the SW Florida coast. Our homes are build with cinder blocks covered with stucco, tile floors, metal and tile roofs and lots of windows to allow that famous Florida sunshine in to brighten the house. We don't have mountains, or for that matter, many hills, so roads are flat and straight for driving and bicycling. The sun is out over 300 days a year and we only get to see that stuff called snow on our TV's. If your retirement includes golf, fishing, boating, beaches, shopping and entertaining, then we have all that!

Baby Boomers are starting to think about retiring, about that move to Florida. Realtors everywhere need to get ready for this exodus. The area they are moving from will have lots of new inventory to sell to Generation X'ers and Generation Y'ers. Commercial property and businesses will be sold as this group moves to a more relaxing lifestyle. Florida population will grow in leaps and bounds. Being a "Boomer" myself, I have been gearing my business to welcome my generation to this sunny, relaxed and enjoyable lifestyle. In future, series I will talk about some of the great values still to be found for us "Baby Boomers" in Fort Myers, FL.

-written by Mike Cathell

Baby Boomer Realtor! @ Florida Future Realty, Inc

cell: (239) 770-6250

email: MikeCathell@FloridaFutureAgents.com

Web site: http://fortmyersrealestate.listingbook.com

Fort Myers is coming back!

Mike Cathell (Florida Future Realty) — Mon, 30 Mar 2009 11:11:26 -0500

Fort Myers has made the news a lot recently. The national news make it sound like we should all abandon our homes and go running back up North. If they would just come down to check it out, they would delightfully surprised at the values to be found here. The prices are phenomenal and European and Canadian investors have been coming in packs to see what SW Florida is all about. One thing savvy investors know (insider secret!), the last area to be hit with a downturn is usually one of the first to recover! That's SW Florida!

The so-called "burst bubble" started in Texas and California long before it hit Florida. Yes, we were hit hard and lead the country in foreclosures and lis pendens filings. The Lee County Clerk has reacted and streamlined the process as well as bringing 9 judges out of retirement to help. I am not cold-blooded by the way - a large percentage of these homes are still abandoned spec homes that need to go away. Families still live in their homes are being given generous extensions and opportunities to work with financial institutions to stay in their home.

Enough rambling! The message to investors and Baby Boomers is - values abound! If you do your homework and don't mind a little sweat equity, there are houses selling for less than $29 a square foot! For first time buyers, there are tax credits and down payment assistance. Special financing is available in some of the really stressed areas of Lee County. The inventory is dropping! Over 900 homes were sold in Lee County last month! Get your customers here! Give them a chance to get some of the best priced deals around! Oh yeah, we have lots of sunshine and beaches to throw into the deal!

Getting better every day in SW Florida! Get your baby boomers down here!

Mike Cathell (Florida Future Realty) — Wed, 11 Mar 2009 10:15:35 -0500

Plenty of Room at the Beaches- C'mon down!!!

Mike Cathell (Florida Future Realty) — Thu, 11 Dec 2008 10:59:23 -0600

There is plenty of room for your investors or retiring Baby Boomers in SW Florida!!!!!

On this mornings local news, the broadcasters were talking about recovering from the "recession"! The SW coast of Florida has plenty to offer now and in the near future. Due to the huge foreclosure mess, the county has re-hired several judges to speed up the foreclosure process. My office is getting more and more bank owned properties at all price levels. These properties are priced to sell and have quicker closes than the short sales we have all suffered through.

The point the newscasters were making is that everything is here already whenever buyers are ready. Plenty of inventory at all prices. The amenities are in place- shopping, recreational, schools, airport and much more. Baby Boomers and Investors are starting to turn their sights on Florida! Let's get this recession ended now!!!

Where's everybody when I need them?

Mike Cathell (Florida Future Realty) — Fri, 07 Nov 2008 12:26:57 -0600

I am working in one of the states that is constantly in the news for being one of the hardest hit in the foreclosure world - Florida. My county will soon be up to 40,000 foreclosures year to date. Every neighborhood has abandoned and partially constructed builder spec homes. But I am not complaining. I'm scratching my head.

There is a huge inventory of below market value homes, the interest rate is still favorable and in some neighborhoods financial institutions will still do 100% financing. I have a network that includes mortgage and title professionals, a home inspector and a GC who specializes in remodeling work. My office has a large list of bank owned properties also. What I need is buyers!

What I was considering was starting a local investment group to show these properties. I was wondering if anyone has experience in setting up and working with one of these groups. or better yet, do you have an existing group that would like to receive this list when we update the properties?

Baby Boomers are looking at Florida for their nearing retirements. Many of these properties could be their dream retirement home. Another option would be to rent these properties out and later use them in a 1031 exchange to get their dream retirement home.

I would appreciate any input anyone can give me about their investment clubs or how to set up my own group.

Thanks Forbes Magazine - When being "Bad" is actually "Good"!!!

Mike Cathell (Florida Future Realty) — Tue, 21 Oct 2008 22:21:11 -0500

In it's recent issue, Forbes magazine posted the worst cities in America to ride out the recession. My little city of Ft. Myers made number two on the worst list. Thanks Forbes Magazine. No, really I mean thanks!

Why is being worst, a reason for thanks? With unemployment up and foreclosures on the rise, house values are dropping rapidly. Banks are becoming more willing to discuss ways to keep homeowners out of the foreclosure process. Good news? Now is the time for investors to be looking at houses in SW Florida. Mortgage rates are still at a good level. Bargains are everywhere. Developers are offering amazing incentives to Realtors and buyers. Realtors everywhere should be offering these investment properties to their valued clients.

Home sales in Lee county (SW Florida) have increased every month for the last 9 months. Available inventory has gone from a 21 month inventory to a 9 month inventory according to the local news. Florida Realtors have seen the silver lining in being one of the worst. Give us a call and we'll help your clients!

Short sale pricing on the MLS- Here we go again!!!!

Mike Cathell (Florida Future Realty) — Fri, 01 Aug 2008 10:39:38 -0500

I know this topic has been brought up a lot but I think it is necessary to continue making it an issue until something uniform is done on the MLS. I'm not sure about everyone I have met but my Code of Ethics is important to me and the way I run my business. The Realtor association of greater Fort Myers and the Beach, Inc has put a short sale primer on their site. Rather than paraphrase I am copying their message exactly since short sale pricing and our Code of ethics is the subject. My thanks to the Board for this important info!!!!!

It is important to get a fi rm indication from the lender that they will actually be

willing to accept a reduced price for the house before you begin the short sale

process. Remember, as stated before, the lender will consider the estimated market

value, payoff on the loan, the costs involved in the sale, etc., and will try to mitigate

its losses by getting the highest price possible for the property. Quite often the

lender comes back with a counter-off er that is much higher than the listed price.

Pricing is critical, so be careful with regard to the price you list in the MLS. If the

price listed in the MLS cannot be substantiated, you may fi nd that you could be

in violation of three articles in our Code of Ethics:

Article 1

: When representing a buyer, seller, landlord, tenant, or other client

as an agent, REALTORS® pledge themselves to protect and promote the

interests of their client. Th is obligation to the client is primary, but it does not

relieve REALTORS® of their obligation to treat all parties honestly. When

serving a buyer, seller, landlord, tenant or other party in a non-agency capacity,

REALTORS® remain obligated to treat all parties honestly.

Article 2

: REALTORS® shall avoid exaggeration, misrepresentation, or concealment

of pertinent facts relating to the property or the transaction. REALTORS

® shall not, however, be obligated to discover latent defects in the property,

to advise on matters outside the scope of their real estate license, or to

disclose facts which are confi dential under the scope of agency or non-agency

relationships as defi ned by state law.

Article 12

: REALTORS® shall be honest and truthful in their real estate

communications and shall present a true picture in their advertising, marketing,

and other representations. REALTORS® shall ensure that their status as

real estate professionals is readily apparent in their advertising, marketing, and

other representations, and that the recipients of all real estate communications

are, or have been, notifi ed that those communications are from a real estate

professional.

before i pull what's left of my hair out!! adding pics?

Mike Cathell (Florida Future Realty) — Wed, 04 Jun 2008 12:30:21 -0500

Hi evryone!

I recently got a picture to load to one of my blogs. Now I want to do it again but can't repeat my moment of genius! what is the easiest way to add pictures to oue "words of wisdom"?

Mike Cathell, Sellstate Achievers Realty network, LLC

Collective Minds Accomplish Great Results

Mike Cathell (Florida Future Realty) — Wed, 21 May 2008 10:05:46 -0500

A few weeks ago, I had one of those "feel sorry for me because the market is bad" days. I ran to my favorite coffee place and after a few sips of my favorite java, I decided to read through my old copy of Napoleon Hill's book. As I thumbed through looking for something to catch my eye in the yellowed, worn, corner folded pages, I ended up on Hill's 9th Step. Maybe there was a force guiding me to stop there.

Hill talks about the co-ordination of two or more people working in harmony towards a definite end and the energetic power of the human mind which is greater when two or more minds create a bank of energy as well as an invisible force that is generated from the universal intelligence. I immediately stopped feeling sorry for myself andf called a couple of friends that included a home inspector, an interior designer, a mortgage broker and another realtor. Even the owner of the coffee shop joined us.

We decided there was to be NO negative statements allowed! Topic: what are you doing to promote your business, what's working and what's not. Many ideas flowed with the caffeine loaded javas. Everyone left wanting to try what we discussed in our little group.

Now we meet regularly every other week for an hour. We discuss what we tried, what brought leads and what else can we do. Everyone's business is growing again! The collective energies and thoughts keep everyone motivated. The mentor sessions are now part of our permanent work schedule. Once again, Napoleon's ideas brought new energy. If you haven't already read this book, get it now. If you have read it, read it again!

Mike Cathell, Sellstate Achievers realty Network, LLC

Ft. Myers, FL

It's Your First Time..I'll Be Gentle!

Mike Cathell (Florida Future Realty) — Sun, 13 Apr 2008 16:04:06 -0500

Lately, I' ve received several comments from First Time Buyers that they are not taken seriously. They have called or visited several offices and have not found agents willing to work with them. Couple of reasons:

They don't qualify for big mortgages. According to the NAR, the median average of first time buyers is under $150,000.
They want to see every house available in their price range.
They ask too many questions.
They want their parents to look at the house they picked.
Their list of wants far exceeds the money they can spend.

These buyers are becoming a larger percentage of our present buyers. They have never been through this process and they are very apprehensive. It is our job as professionals to make this task less painful. Technology can make the searches simple. Show them how to use online sights to search for property. There are still creative, honest mortgage brokers working next to us. Partner up with one! Let Mom and Dad be part of the process but you stay in control of your buyers. Let them drive by the houses on their list and call you to set appointments for the ones they really like. Stay in touch almost daily and guide them. Once closed, they stay fiercely loyal.

I sold my first customers several years ago. I let them look at everything and I showed the last few, one of which they purchased. Recently, they called me to re-sell the place I sold them plus upgrade to a bigger home. I am even still using the same mortgage so she is familar with all the financial aspects of their life.

Sometimes the hardest sales to close are the most profitable over the years. More importantly, these are the sales that you remember the rest of your career.

Yad s'loof lirpA yppaH..or...

Mike Cathell (Florida Future Realty) — Tue, 01 Apr 2008 09:18:54 -0500

Have fun today! In case you didn't get the headline it's "Happy April Fool's Day" written backwards for the coffee challenged this morning! We all work 24/7 and every once in awhile we need to let go. So today society has given the entire world a day to have good clean fun! There are many pranksters and good humored folks in our business. So get out there and celebrate the return of the rise in the number of home sales! Tell me about what you did today to make friends, colleagues or even strangers smile a little bit and forget drudgery if even only for a few minutes. As a matter of fact, if I get enough responses, it can become a contest voted on by members.

Contest rules:

Prank cannot be harmful, hateful or done for revenge!
Prank must be in good taste and not offensive!
No one's job, career or business should be put at risk!
The end result should be a smile not embarrassement!
Even if you are the victim, you can submit the story and be eligible!
Deadline is misnight, April 3 for submission.

So, still do some business today but have a little fun! If you cannot have a little fun then there is no reason to even get out of bed!

Mike Cathell, Sellstate Achievers Realty Network, LLC

Cell: (239) 770-6250

Oldest Financing Still the Best for First Time Buyers!

Mike Cathell (Florida Future Realty) — Tue, 25 Mar 2008 09:47:19 -0500

This is a reprint of a blog I wrote on my website several months ago that has enough relevance to post again, especially with the tightening of mortgages. Hope you enjoy!

Mortgage lenders are tightening the rules! Mortgages have gotten tougher to get at the same time real estate prices have made it a buyers' market. It is an ideal time for First Time Buyers to take advantage of that pricing. The problem? They have not been part of the work force long enough to save enough for the needed down payment. Their solution? "Mom and Dad" financial assistance! According to a recent issue of Money magazine, this time honored method of obtaining home buying assistance is on a dramatic increase. Parents are entering equity sharing agreements with their children. The parents lend the down payment for the home purchase and the children are responsible for mortgage payments, home owners insurance, taxes and upkeep. After 3 to 5 years, the younger family members are ready to upgrade their home. Their original realtor helped find a home that now has a good equity position. After the sale of the home, the parents receive back their original "loan". The balance of the equity is split and the parents receive a good return on their investemnt and the younger family member gets the needed down payment to purchase their new home!

Realtors and Mortgage lenders should not overlook this valuable resource. First time home buyers are a great source of referrals and future business from the same customers. Some times the best answer for a turn in the market is one of the oldest solutions - Mom and Dad!