A plane crash has been reported south of Naples FL in an area east of Marco Island known as Goodland. Officials report recovering one subject from the plane. No other information is known at this time.
Many property owners in Cape Coral FL and the surrounding cities of Fort Myers and Estero have questioned how the Short Sale process works. This blog series will give a brief but detailed information on what happens from Start to Closing. This blog series will provide information for other Real Estate Professionals, Sellers, and also give buyers an idea of why it can take some time to close.
Please review the other blogs associated with this six part series for more information.
ARE YOU FACING FORECLOSURE AND NEED HELP?- Follow this link for more information on performing a Short Sale on your home. We will send you the information and forms needed for us to start the process of performing a Short Sale on your home, condominium, or property.
ARE YOU AN INTERESTED BUYER? Follow this link for more information about buying a Short Sale/Pre-Foreclosure property. By following this link you can search for foreclosures, pre-foreclosures, short sales and other competitively priced properties throughout our market area.
FORECLOSURE / SHORT SALE NOTIFICATION SERVICE - Follow this link to be added to our list of foreclosures, pre-foreclosures, and short sale notification list. Once you're on the list you will receive updates as we place new properties on the market for sale and assist on sellers in getting their properties SOLD !!!
A recent news article regarding the Cape Coral Foreclosure crisis had city officials stating they were contemplating using the $7,000,000 to purchase and rehab up to 80 homes in the City of Cape Coral and re-sell them to home buyers.
The City of Cape Coral could find much better things to do with the $7,000,000 that just buying and selling 80 homes. Banks are having a difficult enough time trying to move properties they presently own. Keep in mind that the bank owned homes will sell... they always have sold... and they always will. Banks will liquidate these homes if necessary, but the home exteriors need some sprucing up to speed the process along. As part of the agreement to recieve the money the City of Cape Coral does have to buy a certain number of homes to rehab and turn them around to new buyers. But does it make sense to spend all $7,000,000 on turning around 80 homes... or could the money be spread around more?
Cape Coral residential sales for third quarter of 2008 have increased 150% from the same time period in 2007. In the last three months 1358 residential improved properties have sold in the City of Cape Coral compared with 541 residential improved properties last year.
Cape Coral Vacant land sales for the third quarter of 2008 have also seen a 130% increased from the same time period in 2007. In the last three months 334 vacant properties have sold in the City of Cape Coral compared with 146 vacant land sales for the third quarter of 2007.
As of today October 20th, 2008, here are statistics on what is presently available for sale in the City of Cape Coral:
4304 Single Family Homes
696 Condominiums
238 Residential Income (Duplex, Triplex, Fourplex)
3488 Lots / Vacant Land (Already city maintained through lot mowing assessments)
With a look at the numbers above and the City of Cape Coral's plan to buy 80 homes with $7,000,000 is ridiculous. 80 homes only represent 1.8% of homes presently listed for sale. This doesn't even take into account other potential abandoned properties throughout Cape Coral. Does it make the best sense for the City of Cape Coral to invest $7,000,000 to only benefit 1.8% of properties available?
Realistically it's going to take atleast three to five years for our market situation to get back to some state of normalcy. As a real estate professional selling homes in this market the first deal killer on many of these foreclosed and abandoned properties is the exterior appearence aka "The Curb Appeal Test." $7,000,000 could go a lot farther maintaining property exteriors which would in turn allow many homes to sell faster.
As an example lets say the city of Cape Coral was going to maintain 4500 property exteriors on a biweekly basis between now and the time they sell... because homes are selling. Now not every home for sale in the City of Cape Coral is an REO or abandoned property. I arrived at this figure based on an estimate of homes for sale and the number of foreclosure filings occuring. Weekly lawn care in Cape Coral on an average costs $80 a month. So $40 to maintain the properties biweekly would cost $180,000 a month. Obviously it is going to take more money initially to get the properties looking good... but once they are mowed down the money can still go a long way.
If a home looks good on the exterior you will get the buyers inside the homes and they will fix the interiors. Pretty much any home out there these days is going to need interior work anyways, buyers know this already plan to make improvements. If the home looks bad outside the buyers will most likely never go inside and by chance the interior may be beautiful and not need any work.
The City of Cape Coral needs to bring up the curb appeal of homes citywide and we'll speed up the real estate market recovery process at a much more alarming rate.
ARE YOU FACING FORECLOSURE AND NEED HELP?- Follow this link for more information on performing a Short Sale on your home. We will send you the information and forms needed for us to start the process of performing a Short Sale on your home, condominium, or property.
ARE YOU AN INTERESTED BUYER? Follow this link for more information about buying a Short Sale/Pre-Foreclosure property. By following this link you can search for foreclosures, pre-foreclosures, short sales and other competitively priced properties throughout our market area. Follow this link to be added to our list of foreclosures, pre-foreclosures, and short sale notification list. Once you're on the list you will receive updates as we place new properties on the market for sale and assist on sellers in getting their properties SOLD !!!
The neighborhoods of the Gateway Golf and Country Club are formed into a 3000 acre master planned community. Located in Fort Myers Florida this community offer a variety of real estate choices to include single family homes, condominiums, villas, coach homes, luxury homes, estate homes and amenities such as Golfing, Swimming, and Tennis.
This community has retail stores, restuarants, three schools, several employers, and much more making this area very attractive to buyers and investors. Gateway Boulevard is the main route of travel through the community and features lushly landscaped medians, and sidewalks for miles of walking and biking. Gateway is strategically located near Interstate 75, Southwest Florida International Airport (SWFIA), Florida Gulf Coast University (FGCU) and vast number of new retail, dining, and shopping opportunities at the Gulf Coast Town Center Mall and Coconut Pointe Mall.
The links below will provide you real time listing information. If no listings appear there may presently be no properties available For Sale in the community at the present time. The links below update on a daily basis so check back often to see properties available For Sale in the communities below.
If you are interested in purchasing a home in one of the many Gateway Golf & Country Club neighborhoods contact me today for more information, call me direct at (239) 340-1384 or via email at ScottSlocum@FloridaFutureAgents.com.
Help is on the way for the City of Cape Coral which has had a number of foreclosure, short sale, bank owned, and REO properties throughout the course of the past few years.
U.S. Senator Mel Martinez announced yesterday that the State of Florida will be receiving just over $541 million in Federal Foreclosure Aid. Of the $541 million in Federal Foreclosure Aid being distributed to the State of Florida, the City of Cape Coral will be receiving just over $ 7 million dollars or $7,065,483.92 to be exact.
The money can be used by the City of Cape Coral to maintain or even purchase abandoned homes, and homes that have become eyesores in neighborhoods. The funds can also be used given as downpayment and closing cost assistance to low and moderate-income homebuyers. The vision of the Federal Foreclosure Aid is that through proper maintainence of these homes they and the surround homes in the neighborhood will retain their values and not lower values in the same neighborhood.
If you are interested in purchasing a Bank Owned, REO, Foreclosure, or Foreclosed properties in the Cape Coral, Fort Myers, and Lee County FL area contact me. Also stop by the links below to start your search for these great deals.
With the large influx of Canadian and Foreign National buyers from around the world entering our marketplace here in Cape Coral / Fort Myers FL some potential buyers are finding out there are limited or no financing opportunites for foreign buyers.
I have great news for you... there are presently lenders in Cape Coral FL, specifically a local bank offering such financing for buyers interested in purchasing second homes, specifically single family residences. This loan product is not available for vacant land, condominiums, or multi-family investment properties.
This loan product requires you to make a 25% down payment and finance the remaining 75% of the purchase price.
Other necessary information and required documentation includes:
Copy of Passport and Visa
International credit report or four credit references from a utility company, credit card provider, mortgage holder or landlord, insurance company)
Two bank reference and character letters
Two months bank statements including all pages
Verification of employment or letter from your accountant if self-employed covering two year period
Six months reserves/payments plus adequate funds for mortgage payment to be held in a the institutions account with auto payment feature for mortgage payment
No Escrows for Taxes and Insurance required
If you are interested in learning more information about this special loan program for Foreign National and Canadian buyers or information about a future purchase of real estate in the Cape Coral Fort Myers area please contact me today.
I can also provide specifics regarding property insurance and property taxes as they relate to foreign buyers.
The Lee County Property Appraiser has released Notice of Proposed Property Taxes also known as the "TRIM" Notice on Friday August 22nd, 2008.
TRIM is an acronym that stands for "Truth In Millage." The TRIM notice contains specific information designed to inform you of your property tax obligations as required by the Truth In Millage Law that was established in the 1980's by the Florida Legislature.
With the decrease in values and the increased Homestead Exemption I have seen my own property taxes decrease 29%. I also researched some of the properties that I sold to customers this past year. One of my customers from British Columbia Canada is seeing a 37% decrease in their property taxes on a Gulf Access Residence they purchased this year. Calculate the percentage change in your property taxes.
The TRIM notice provides the property owner with the following value information:
Market Value
Assessed Value
Exemptions in Value
School Taxable Value
Taxable Value
The TRIM notice also provides the property owner with the Name, Address, Telephone Number, and Public Hearing dates for the various Taxing Authorities if you wish to attend and voice your opinion on the proposed tax.
The TRIM notice also displays your previous year values for you to compare increases or decreases in value and how it relates to your property taxes.
Thinking about Buying or Selling a home in Lee County Florida? Contact me for more information about direct at 239-340-1384 or email at ScottSlocum@FloridaFutureAgents.com.
Many property owners in the Cape Coral FL area are having REALTORS® sell their homes as a "Short Sale." A Short Sale is where a property owner sells the property for less than what is owed on the 1st and sometimes 2nd mortgage.
With the change in real estate pricing over the past two years many property owners are finding they can no longer continue to hold these properties that they purchased a few years back because they are creating financial hardships on their families and themselves.
Florida Future Realty Inc. is assisting our community through its first hand experience in listing, negotiating, and closing short sale listings. We have established a proven stream lined process for our customers from the seller and buyer perspective.
To find out more information about selling your property as a Short Sale contact me today at (239) 340-1384 via e-mail ScottSlocum@FloridaFutureAgents.com or directly from the "Contact Me Today" link on the left side of the my webpage.
The Cape Coral and Fort Myers area real estate market has had a large influx of Bank Owned, REO, Foreclosure properties available For Sale. The banks that own these properties are pricing them competitively to sell within 30 to 90 days. With this pricing many of these properties are selling quite quickly with multiple offers on the table for the REO Managers to review.
However many other Cape Coral and Fort Myers Bank Owned REO Foreclosure properties are sitting stagnant month after month racking up the days on market!
These properties could be liquidated and taken off of the books of the banks if they were listed with the same professionalism that a listing agent would offer their traditional seller.
REO Managers take a look at how your listings are being displayed on the web and in the MLS. This may answer the question... why is your property still sitting stagnant on the market and not selling?
Many of the homes listed in the MLS and on the web contain only one picture of the front of the home. With the consumer driving around the internet these days searching for homes you should have10 to 15 photos of these properties available for the consumer to view whether the property is in pristine or distress condition because we have consumers in our marketplace are looking for both.
Next many bank owned listing agents have only entered "One Liner Descriptions." Some of the most popular bad descriptions that give the property no justice or quick chance to sell are...
NEEDS TLC
HANDYMAN SPECIAL
NICE CONDO
3 BED 2 BATH HOME
CBS CONSTRUCTION
POOL HOME
NEWER CONSTRUCTION 3/2/2
Wouldn't it be better to have a full property description like this...
This nearly new home is priced to move, located in near all the new stores, restaurants & parks, 4 bedrooms 2 bathrooms 1700 Square Feet, home comes complete with all appliances including a washer & dryer, raised panel cabinets in kitchen & baths, 2 walk in closets in master bedroom, dual sinks in master bathroom, screened in lanai with sliders from dining room & door to hallway, ceiling fans throughout, hurricane panels in garage.
Now envision a one liner description and only one photo of the front of a home. These factors combined won't make your REO property sell with any alarming speed.
REO property managers take the time to investigate your listing agents' promotion and advertisement of your property. You may be surprised when you compare your listing with other listings in our area. If you are looking for a brokerage to promote and give your properties justice in our market place contact us at Florida Future Realty. In additional to the MLS we advertise your listings on over 40 different internet real estate websites so the consumer will find your property.
BUYERS... this could be your opportunity to find a diamond in the rough property for sale due to the improper marketing techniques of the listing agent. We have recently assisted an out of state buyer who purchased a one liner, one photo home for sale. They had asked us to go take a few additional photos to see what potential repairs may be necessary. Much to their amazement this home was in nearly move in condition. Unfortunately this property sat on the market for over 70 days.
For more information about Cape Coral and Fort Myers REO and Foreclosure Real Estate call me direct at (239) 340-1384 or via email at ScottSlocum@FloridaFutureAgents.com.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
The neighborhoods of the Gateway Golf and Country Club are formed into a 3000 acre master planned community. Located in Fort Myers Florida this community offer a variety of real estate choices to include single family homes, condominiums, villas, coach homes, luxury homes, estate homes and amenities such as Golfing, Swimming, and Tennis. 
Bristol Parc
Callaway Greens
Champions Green
Cypress Cay
Cypress Links
Cypress Pointe
Daniels Preserve
Devonshire Lakes
Eagle Pointe
Hampton Greens
Hampton Park
Hidden Links
Magnolia Lakes
Mahogany Isle
Mahogany Run
Pinecrest
Pinewood Lakes
Sabal Dunes
Silverlakes
Stoneybrook
Villages of Stoneybrook
Summerwind
Timber Ridge
Walden Lakes
Waterford Village
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