lee county real estate: 3317 23rd Street SW, Lehigh Acres, Florida REO - 05/19/08 11:59 AM
We have just listed a REO (bank-owned post-foreclosure).  Ready to sell, no delays. 
NEW, NEVER-LIVED-IN !!!  On a nice East-West Street that connects to the major exits of I-75.
$117,200 for 1400 sq ft of living area and 1969 sq ft total area.

No way you can build a 1956 sq ft home from scratch in Lee County.  The lot, impact fees, permits and site preparation would blow the project out of the water, even in this present diminished market.  Yes, labor is now a little cheaper, but materials are not much different from 2005/2006.  Impact fees are impact fees, and not … (1 comments)

lee county real estate: 2208 NE 10th Avenue, Cape Coral, Florida - 05/17/08 04:37 AM
$135,000.  For Sale....  Bank-Owned (REO)  .... MUST SELL NOW!
Never-Lived In Home in Cape Coral, Florida.  Went through Foreclosure and is now in a Must Sell mode with the bank that owns the home.  Take Advantage of the bank's situation and Make An Offer!  Due to the urgency of the Sale, all offers must be for Cash or must be accompanied by Pre-Approval Letters issued by a bank.  Call us now for assistance on this matter!

This home comes complete with new appliances which will be delivered upon closing.  The Cape Coral home was completed in 2006, never lived-in.  Offered … (5 comments)

lee county real estate: 3053 NW 3rd Avenue, Cape coral, Florida 33993 - 05/12/08 02:39 AM
Bank-Owned Property.  NEW, Never-Lived In, REO.
$115,000.  works out to just $81./sq ft of living space
This home has an optional Rear Screened lanai and 450 sq ft garage !!

Note that the total (living area plus garage plus covered lanai) square footage of this home as reported by the Lee County  FloridaProperty Appraiser is 2128 sq ft.

We have other foreclosed homes (REOs) which were built by the same builder.  Investors failed to honor their contracts, so these NEVER-LIVED-IN Homes are available for low, low prices.  We also have a few bank-owned homes available in Lehigh … (2 comments)

lee county real estate: Bank-Owned Home For sale (REO) Cape Coral Florida 2818 NW 24th Avenue - 05/08/08 07:57 AM
We have a new listing of a bank-owned home in Cape Coral, Florida. 
Priced at:          $152,000.  ($85/sq ft under air;  $65/sq ft total)
Located at:       2818 NW 24th Avenue, Cape coral, Florida
This home is a Buckingham Model by First Homes.  It has a den and has 1785 square feet under air conditioning.  Total square footage, including the garage and entry is 2340.
 You cannot build a quality home this cheaply!  Take advantage of the bank's inventory issues!
Pictures from the builder's Model.
We have another Buckingham  in Cape Coral which will come on the MLS shortly.
We also have one bank-owned Buckingham in Lehigh Acres, … (0 comments)

lee county real estate: Cape Coral Florida Golf Course Homes - 05/03/08 06:02 AM
As we begin the long recovery in real estate sales and prices, many real estate investors are coming back to test the waters.  The primary motivation seems to be that they can buy inexpensive homes now, rent them at a small negative cash flow for three years and then turn the investment over for a nice total return.
Where I have questioned this practice is whether buying the low-end homes will give the best total return.  It seems to me that buying mid-range homes on a golf course or on waterfront lots would seem to give more acceleration on price looking down … (3 comments)

lee county real estate: Lee County Florida Real Estate today - 05/02/08 02:35 AM
The Lee County Real Estate Market is improving for some folks and getting worse for others.
According to an article in the Business & Money section of the News-Press this morning, "Foreclosures hit new high".  Foreclosure "actions" filed in Lee County in April spiked up sharply to a new high of 2160.  By "actions filed", one would assume "Lis Pendens", meaning that the mortgage holder has initiated the first legal step of filing notice to the homeowner and the rest of the world that they are beginning the process of taking the home.  for each of the homeowners, there is still a long … (1 comments)

lee county real estate: Glut of Homes Shrinking in SW Florida - 04/30/08 03:10 AM
The headline in today's business section jumps out to say that the Glut of (vacant) Homes in Lee and Collier Counties (Florida) is SHRINKING.  Now I just wish that the headline was on page one of the main section, like all of the negative reporting has been, but I'll take what we can get!
Yesterday I was working up a listing price for a luxury home in central Cape Coral.  We had tried unsuccessfully to sell the home a year or so ago and had very little interest from anybody, regardless of price.  The owner rented it out at a negative … (0 comments)

lee county real estate: Clients with Short Sale or Foreclosure Real Estate - 04/20/08 06:50 AM
As a Realtor, I am often asked to "advise" a potential client on Short Sale or Foreclosure situations.  since I am not an Attorney, I demure from giving advice, but I will refer people to attornies who are specialists in their field.  I repeat, SPECIALISTS, because I find that even attornies do not necessarily have all of the information necessary to properly counsel people in this situation.
Some things that I have noticed in other BLOGS...1.  One Realtor warned of DIRE CONSEQUENCES to Short Sale or Foreclosure situations, predicting that any action resulting in loss to the bank would probably result in … (2 comments)

lee county real estate: Cape coral Real Estate Market -Conflicting Messages - 04/19/08 12:27 AM
Reading the local papaer this morning, I saw two conflicting messages:
First of all, a liquidation sale in a gated community resulted in a total sellout of 116 homes in just two weeks.  Seventy percent were sold to homesteaders.  So much for the idea that there are no buyers out there.  This, after the recent Countrywide auction that attracted hordes of qualified buyers, even though Countrywide seems to be a little challenged when it comes to conducting an auction.  Then there is the mesage that actual closed sales has hit a peak recently not seen for about 18 months.  Every title company … (0 comments)

lee county real estate: Reinvention is chicken soup for the soul !!! - 04/17/08 11:23 AM
To the lady in Poughkipsee who reinvented herself from the airline industry into real estate.  Hoorah for you!  That's a great story. 
 As a "reinvented" veteran of the travel industry, I can relate to your story.  Over twenty previous years in the hi-tech industry (with five different companies), my biggest customer was always Big Blue and Poughkipsee was my monthly.  Stayed many nights at The Inn at the Falls after I figured out that the two motels out on the highway were invented to torture people before their visit with the gods.
so I morphed into the travel industry and it was fun for … (1 comments)

lee county real estate: Cape Coral Real Estate - over-priced? - 04/16/08 03:03 PM
I was setting up an itinerary for homes this evening.  Buyers are a nice young couple from the East Coast, anxious to make a go of it in Cape coral.  They have a definite price point in mind, so we are searching for the best value we can find at that price.  Not unusual for persons moving into the area, but different from bottom-feeding methods when you just want the rock-bottom price for a given square footage.  Buyers also stated that they do not want to play the short sale game.
What I found in my search is that prices ranged from … (2 comments)

lee county real estate: My Broker Got onboard with Lee County Florida REOs ! - 04/15/08 11:22 AM
What a happy day!  My Broker made our first deal with REOs and we came up with an even dozen listings in the first shot.  We can advertise these listings as individuals and of course we can sell them.
This is an important step....I can see now that very few individuals are going to win a lot of REOs in the Cape Coral Real Estate Market as we go forward.  Having noticed the same names showing up on (most of) the listings for the last year, I have done a little informal survey to find out how they are doing it.  Come … (4 comments)

lee county real estate: Pending Home Sales Rise in First Quarter - 04/13/08 06:33 AM
Despite conflicting information from two data sources, it is clear that home sales in Lee County Florida have increased during First Quarter 2008.  Home SALES show a small decrease Year-to-Year, reflecting somewhat diminished purchasing activity in Q4 of 2007.  PENDING sales show a 17% increase Year-to-Year and confirm what many Realtors are saying......buyers are beginning to "pull the trigger".  Inventory levels of lower priced homes have fallen ( on a months basis) as Pendings rise.  Obvious reasons include Compelling Prices and Pent-Up Demand.
Many bank-owned properties were priced too high in 2007.  Not being known for aggressiveness, banks were always just a … (3 comments)

lee county real estate: Home Sales in Cape Coral Florida - 04/13/08 03:15 AM
Sunday's News-Press has a front-page headline: "Lee Home Market Clogged".  Must be a slow news day.  There were some interesting points made in the article, however. 
One thing that caught my eye was the statistic that there are 5189 single-family homes for sale in Lee County for less than $200,000.  Now that's an eye-opener!  We are back to a situation where our schoolteachers and policemen can afford a home.  Furthermore, Seller capitulations, for whatever reason, are leading to large price reductions, often 10% or more.
Another thing that jumped out at me is that approximately 5% of our total home base is … (4 comments)


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