michael polly: What makes 700 billion problems go away?
- 09/23/08 03:00 PM
My rants and raves with a bail out plan. Three big questions are on everyone's mind today regarding the governments bailout of our financial institutions. 1) After a weekend to crunch options is this the best one? 2) Is it necessary? 3) Will it ultimately work? No one seems to have these answers. Last week when the Federal Reserve and the US Treasury Department decided that we were in a mess and finally came to the realization of how dire a problem it is. This is my first problem. In a digital age where we wait for nothing, fast food, instant … (1 comments)
michael polly: It takes a village to raise a President
- 09/23/08 07:17 AM
Wasilla's fame may indicate Sarah Palin's ultimate future The Jeopardy category for $500 is Famous Hometowns. Alex Trebek reads the following answers: Indianapolis, Indiana; Carthage, Tennessee; and Casper, Wyoming. The contestants now have less than a split second to hit the button, signaling that they know the right answer (in the form of a question, of course). I've discovered that you can't watch Jeopardy without playing along. My wife and I usually watch the show during dinner. Both of us are rather competitive, so we usually pay closer attention to the categories on the tube than the chicken on our plates. … (1 comments)
michael polly: Residential Market Watch: Chance to buy newer home at low cost fading
- 09/02/08 03:16 AM
By Michael Polly Tropical Storm Fay has come and gone, but the rain it dumped on Lee County lingers. The ground is saturated and some streets are flooded. As much as we needed the rain, we are anxious for the way things used to be, like being able to walk to our mailbox without wearing our slickers. Likewise, we witnessed our real estate market raining inventory for the past couple of years. It rained so hard and long that you could forget about walking to the mailbox, because the only way to get to it required something with Evinrude on the … (0 comments)
michael polly: Has help really arrived for 1st time homebuyers?
- 08/01/08 08:51 AM
This past Wednesday, July 30, President Bush signed the recently-passed housing legislation (H.R. 3221) into law. The new first-time homebuyer tax credit went into effect immediately upon the President's signature. What is all means to for everyone is still being questioned. Many hope the credit will convert "Just looking, thanks" home browsers into purchasers. This is remains to be seen. The downpayment assistance now offered as 3% of the purchase price by FHA is set to go away October 1st. This should give many who are thinking about taking advantage of today's once in a life time buyers market prices something to get them out writing offers … (0 comments)
michael polly: Selling in this market doesn't happen without pain
- 05/09/08 03:17 AM
Sellers can minimize discomfort by selling sooner "Denny, you have had our home listed for two months and it's still not sold. Don't you think we need to come up with some creative marketing ideas?" These were the words from one of my sellers this week. Being a curious cuss, I asked them what they meant by "creative." They quickly shot me a couple of ideas like providing owner financing or being willing to lease-purchase the home. They even offered to vacate themselves, their kids and pets from the home, leaving their furniture and accessories behind. My puzzled look quickly prompted … (0 comments)
michael polly: Residential Market Improves - In Spite of What You May Read
- 04/28/08 11:58 PM
I head up our research department and let me tell you I was glad Denny wrote this article. It is hard explaining the differences buyers and sellers when they read so much different information. It is our job to try and keep our clients ahead of the market and the investment we make in our data research plays a big part in this. First Quarter posts double-digit improvement over ‘07 My voice mail message light was blinking when I arrived at my office one Monday morning four weeks ago. Believing optimism trumps pessimism, I envisioned the message would lead to new business; it would be a great beginning … (2 comments)
michael polly: Tops and Bottoms
- 04/02/08 01:50 PM
The news today that foreclosures may have peaked spawned the headlines "Lee's housing market bottoms out." Working in the industry and studying the market intently I often sit back and wonder what this means. Correctly put I believe that it should say Lee's housing market may have hit the TOP of the foreclosures. (Maybe) We are really looking for different signs that point to recovery. At the end of the article there is a mention that baby boomers may in a couple of years come back into our market and revitialize it. I would argue that they already are! The reason they … (0 comments)
michael polly: Good News for our Market
- 03/24/08 04:40 AM
Where are the buyers? That question has been asked a lot over the last 2 years. Well, the answer is in and the buyers really did not go anywhere. The market and pricing left the buyers but the buyers didn't leave the market. Last Wednesday Coral Lakes, a gated community with nice amenities, went up for liquidation sale. Priced at levels that rolled back pricing to 3-4 years ago. The response has been overwhelming! Buyers flocked to scoop up these tremendous deals. There were 116 homes and townhomes to be sold. The townhomes starting at $86,000 were the first to sell out. As … (3 comments)
michael polly: HOT Gated Community Blow Out Sale
- 03/18/08 02:33 PM
WHY CHASE BANK SALES AND FORECLOSURES? In the next couple of weeks we will be releasing a gated community that will be sold at 50-75% discounts to what the developer was selling these homes at. They range in size from 1300 to over 3000 square feet. Loaded with upgrades that are basically free at these prices! These homes have never been lived in and are ready to move in. Close quickly and start calling it home. Prices will range from the low $100,000s to just over $200,000. Ammenities include a spectacular club house, resort style swimming pool, lakes, tennis courts and more. … (3 comments)
michael polly: Maybe it's called Amendment 1 because it's just the beginning
- 01/29/08 11:58 AM
Proposal falls short, but is it a good start? Floridians will have the opportunity Tuesday to give themselves a tax break. Amendment 1 increases the amount of the homestead exemption and initiates portability. A few other goodies were thrown into the proposal as well that will cause us to pay less in taxes. On the surface, it seems like a no-brainer, but anytime government is giving, versus taking, a "Proceed With Caution" sign should pop up in our brain. I have scanned the editorial pages and the Mailbag of the local paper, as well as the online forums, so I have a … (0 comments)
michael polly: Fort Myers Beach Sand Sculpting Competiton
- 11/08/07 12:22 PM
Fort Myers Beach is hosting a sand sculpting championship this weekend entertaining artists from around the country. Master sculpters will gather to show their talent in the warm sun along the south end of Estero Island. This annual event showcases artists works that will leave you saying that can not be sand. They will setup behind the Outrigger Beach Resort and be working each day now through Sunday. Final judging will be on Sunday. … (1 comments)
michael polly: Fort Myers boat show
- 11/08/07 12:06 PM
Starting today November 11th, 2007, the Fort Myers boat show begins. It is a great time to visit the downtown area and a great time to check out over 800 boats. A little over 100 vendors will present boats of all types and marine products of all types. The main entrance will be from Hendry street. The weather is great with highs in the upper 70s and low humidity. You just can't beat the combination of nice weather, water, and boats. There will be food vendors and activies for the family. For more information check it out: http://www.fortmyersboatshow.com/
michael polly: Staging your home
- 11/08/07 11:33 AM
Make sure you first impression is your best impression In a tough real estate market it is even more important to make sure your home is seen at its best. Here are a few tips to help anyone with a home for sale make the most of each opportunity.
#1 Fix things. If you have any imperfections like a crack in the tile, a faucet that drips, or paint that needs touching up. Make sure to take care of these things. Moving into a new home puts a lot of things on the buyers mind and home maintenance when they first move in … (1 comments)
michael polly: Driving while staring out the rear view mirror
- 10/29/07 01:12 PM
by: Michael Polly Lagging indicators keep sellers behind the market You can't see what's coming if your watching what has happened. The National Association of Realtors and the Florida Association of Realtors have released the September sales numbers for the Fort Myers, Cape Coral and surronding Lee County areas. A year over year comparison of the September numbers show a 53% decline in sales with 327 homes sold. The numbers also show an 11% decline in median home price coming in at $231,600 down from $261,400 last year. These number are widely used and indicators of how the market is … (4 comments)
michael polly: Differing opinions create confusion - Lee County Home Condo Sales
- 10/29/07 01:09 PM
Third-quarter data indicates market direction What word best describes your feelings about our residential market? Would it be depressed, confused, excited, frustrated, optimistic or pessimistic? You may have experienced most, if not all, of these feelings depending on who you listen to or what your favorite media source is dishing out on that particular day. You may even experience opinion swings of 180 degrees, all in the same day.Can this be possible? Yes. It can happen because we are constantly bombarded with contradictory information and differing opinions, some of which are mutually exclusive. For example, in the past several weeks, one expert … (0 comments)
michael polly: Differing opinions create confusion - Lee County Home Condo Sales
- 10/22/07 01:45 PM
Third-quarter data indicates market direction What word best describes your feelings about our residential market? Would it be depressed, confused, excited, frustrated, optimistic or pessimistic? You may have experienced most, if not all, of these feelings depending on who you listen to or what your favorite media source is dishing out on that particular day. You may even experience opinion swings of 180 degrees, all in the same day.Can this be possible? Yes. It can happen because we are constantly bombarded with contradictory information and differing opinions, some of which are mutually exclusive. For example, in the past several weeks, one expert … (0 comments)
Lee County Florida's Real Estate Market
The ins and outs of sticking your toes in the sand when the sun is beating down in December. Finding just the right home or condo in Fort Myers or Cape Coral. Helping people understand to to buy and deal with foreclosures, bank owned REO properties and short sales. Opportunites exist and The Real Deal is my attempt to give you my perspective from the heart of our real estate world here in south west Florida.
My rants and raves with a bail out plan.
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