neil blairbennett: Cape Coral-Fort Myers Second Most Under Valued Market
- 03/25/10 02:22 AM
The Cape Coral-Fort Myers area is the second most undervalued residential real estate market in the country, according to a new research report That means this is a good time for investors looking to buy land, experts say. "Is land undervalued?" asked Fort Myers-based real estate broker RandyThibaut of Land Solutions. "Yes and no. Land prices for residential development land has bottomed out, it can't get much lower. But not commercial property." Douglas Hannah, a partner in Fort Myers-based Silverleaf Capital Group LLC, which puts together deals for investors, said a lack of demand has caused prices to fall sharply since (0 comments)
Whether you are buying your first home, or your fifth, the process of buying a home is a detailed, time-consuming venture. At the same time, it’s an emotional period laden with difficult choices. You want to ensure that the home you purchase meets your family’s needs now, and in the future. Each of these decisions often involves money. When you consider all that money represents, you’ll want to ensure that you don’t pay too much. This article helps you become a savvy buyer, by pointing out some of the pitfalls inherent in the home-buying process. These include such things as (3 comments)
neil blairbennett: Cape Coral/Fort Myers makes top 10 affordable places to live.
- 02/06/10 04:08 PM
The Cape Coral/Fort Myers area was recently recognized as being one of the top 10 most affordable housing markets in the world, according to an international survey. The survey originated from Demographia Inc., which ranked Cape Coral/Fort Myers seventh in the world. Lee County was behind some of the most economically depressed areas in the nation, including Detroit, Flint and Lansing, Mich. According to Realtor statistics, the median home price in the greater Lee County area was between $89,000 – $90,000 in December 2009. A total of 1,340 homes were sold in that month, an improvement of more than 300 homes (3 comments)
neil blairbennett: Foreign buyers picking up Florida real estate
- 01/31/10 04:09 AM
Much of the recent increase in Florida home sales can be attributed to foreign buyers. These investors are cash buyers and can usually only purchase homes because of this; otherwise they are excluded from financing because of their nationality. “Sixty percent of our buyers are foreign,” said Joe Milton, president and chief executive of J. Milton & Associates in Coral Gables. Milton wants to see more financing options for foreigners, as he predicts that real estate investment will increase even more if this happens. “International buyers are activating this market and reactivating sales,” said Jenny Huertas, the international sales director for Condo Vultures, (3 comments)
neil blairbennett: Grant helps Cape Coral buy properties
- 01/31/10 03:12 AM
Now with help from a $7.2 million federal grant, the city of Cape Coral plans to save 28 homes that would otherwise sit and rot away. The city has purchased about a third of the 28 houses with agreements on the others. City officials said they hope the plan will keep abandoned property from dragging down neighborhoods’ values and stave off blight before it is too late. The city will rehabilitate and sell the houses to qualified homebuyers for zero profit. The city bought a property on Southwest 1st Street for $35,000, with plans to invest about $40,000 into its rehabilitation. (0 comments)
neil blairbennett: FHA Waives 90 Day Rule
- 01/17/10 01:35 AM
In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. "As a result of the tightened credit market, FHA-insured mortgage financing is often the only means of financing available to potential homebuyers," said Donovan. "FHA has an unprecedented opportunity to fulfill its mission by helping many homebuyers find affordable housing while contributing to neighborhood stabilization." With certain exceptions, FHA currently prohibits insuring a mortgage on a home owned by (1 comments)
neil blairbennett: New Red Sox Stadium Moving Forward
- 01/09/10 05:10 AM
Don't panic all you traditionalists, they're not destroying Fenway! The newspring training home for the Red Sox in Fort Myers, Florida is looking to begin turning dirt this summer. The Lee County Hearing Examiner’s office reviewed information that will re-zone the Daniels Parkway site from commercial planned development to mixed use planned development. Look for eastern Lee County to become a hotbed of real estate activity as the development will impact the area for more than just the spring.