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Cape Coral Plan to Waste Federal Foreclosure Money
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?
The Cape Coral Real Estate Market has been very active this year.  We have seen a large influx of buyers from all around the United States, Canada, and Europe coming to Cape Coral Florida to ... more

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