Tim, Other/Just Looking in California

How bad is the real estate situation in the Port Charlotte, Cape Coral, Englewood area of Florida? Is?

Asked by Tim, California Thu Mar 20, 2008

foreign investment really snatching up some of those properties?

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Answers

7
Paul Wadsworth’s answer
It's simple. Many bad mortgages are resetting to where the homeowners can't afford the payments anymore. Because of this they are trying to short sale the property. Unfortunately the banks take as long as 6 months to approve a short sale after the purchase contract is submitted. It has become a joke trying to sell a short sale with many simply waiting for the home to be forclosed. Buying a forclosure is easier but you have to buy the home as-is and on the banks terms. Don't be fooled by "forclosure tours" because all Realtors have access to all forclosures in this area. Forclosure tours start a mini buyers frenzy. Let me know if I can help you find a home. Waterfrontguy1@hotmail.com
Web Reference: http://www.4cchomes.com
0 votes Thank Flag Link Thu Apr 24, 2008
The Economists tell us its a normal year and a great time to buy thanks to the foreclosures, short sales, motivated sellers and builders deals. What more information email me at loriannmertens@yahoo.com
Web Reference: http://loriannmertens.com
0 votes Thank Flag Link Mon Apr 14, 2008
Tim,
It's not bad at all if you're looking to buy a home.
Large inventory, low prices, low interest rates all in favor of buyers.

Marty Wyatt
C BREEZE REALTORS®
239-980-2306
Web Reference: http://www.martywyatt.com
0 votes Thank Flag Link Fri Mar 21, 2008
Tim,
There are some very good opportunities in these areas right now. Best of luck
Marian Schaffer
The Schaffer Realty Group
http://www.marianschafferrealty
0 votes Thank Flag Link Fri Mar 21, 2008
Yes, we have seen a huge increase in Canadian buyers. Most of them are looking to purchase homes under $150,000. Generally, North Port has better deals than the Port Charlotte and Englewood areas.

There are some really good deals right now, especially with the foreclosure property!

Shannon Moore, Realtor®, 941-276-8142
Roxanne Moore, Realtor®, 941-626-3926
Re/Max Anchor Realty
North Port/Port Charlotte
http://www.TropicalFloridaProperty.com
http://www.TwoMoores.com
0 votes Thank Flag Link Fri Mar 21, 2008
Bill, good post ....


Tim,

The one thing that is really changing is the huge influx of buyers from Canada, England, Germany .. and for whatever reason, a large amount from Brazil.

(your mileage may vary)

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0 votes Thank Flag Link Fri Mar 21, 2008
Tim,

The condition of the Florida real estate market depends on your perspective. At the current the market is active and homes are now being sold with considerable involvement from foreign buyers. We will have a better understanding of the true numbers in the near future. It would be fair to say the foreign buyer is playing a significant part in the current market.

This being said, after nearly a 3 year inventory build up, sellers of homes purchased after 2003 are taking a true beating while those purchased prior to this time fare much better. From the buyers side, it is like the "Perfect Storm".......lower prices, cheap money, & highly motivated sellers. This IS the right time to buy for people that have been "fence sitting."
Happy speculating,

The "Eckler Team"
Century 21 Almar & Associates
Venice, Fl 34285
941-408-5363
0 votes Thank Flag Link Fri Mar 21, 2008
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