Judy Ramage

For the last three months Cape Coral has lost 3% in average sale price per month! Although, the number of buyers actually buying is picking up, the average sale price is still dropping. Last year, we lost almost 25% from the first of the year to the end of the year in average sale price.

In a stable Real Estate Market, average home appreciates between 3-5% a year. Therefore, if you wait for the market to "turn around" you will have several more years of losses. If you can afford to sell now--DO SO! Also, put your property is tip top shape since there are so many for buyers to chose from they are picky and do not want to make repairs or repaint.

If you have ANY equity left in your property, you will be better off selling today and putting your money in a CD than trying to manage a negative cash flow until "things get better"

Judy Ramage, ReMax Realty Team, Cape Coral, FLorida - Mon May 5 2008, 06:00

Dear Dan,
Your first step is to find a good agent. Ask your friends, neighbors, or aquaintances for a referral. Almost, 80% of my business is from repeat and referral clients. Once you have a few names make contact with the agents and see who you are comfortable with.
Then ask the agent for referrals to reputable lenders. You will need to be "prequalified" so that you know what price range you can afford and that you need to look in. Have the lender give you a letter stating what you are approved for. You will need that to submit an offer for most properties.
Finally, the MOST important criteria for purchasing any real estate is LOCATION, LOCATION, LOCATION! Most buyers find a balance between the best location they can afford and their other needs like, size, bedrooms, etc. If you buy a condo "in the city" you will certainly have "less square footage" than one in the suburbs but, you will not have the "commute". These are choices a good agent can help you make. - Tue Apr 22 2008, 07:51