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Investment Properties in Estero : Real Estate Advice

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  • Local Info9
  • Home Buying80
  • Home Selling3
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Activity 4
Mon Mar 2, 2015
Beverly Howe answered:
If you look at the closed sales and current listings in your condominium development you might see the prices seem to be going down. There are a couple of pending sales at higher prices than the current closed sales or active listings.

There are still foreclosures and short sales which are impacting the overall property values. Perhaps because of panic selling by some owners who may not have been able to handle the assessment for repairs.

If you could get your neighbors to stop short selling, the foreclosures would probably stop. And your property values would increase. All the resent foreclosure sales have been from failed short sales.

You have a property in a well established and popular community in Estero. The community appeals to all ages and offers many amenities with some of the lowest fees in the area. You have a good investment if you can hang on thru the repairs and foreclosures. There are very few communities which are still clearing out via short sales and foreclosures. Yours happens to be one them, probably because of the repair assessments. At least your not dealing with Chinese Drywall which is a problem for several Estero condominium communities.

It looks like someone is getting ready to put a 2 bedroom on the market for $100,000. Because I am a REALTOR® I can see there is currently a property in the MLS which is withdrawn. The comments say they are waiting for photos. The property may not appraise for a buyer getting a loan, because of the short sales which became foreclosures. However, there are plenty of cash buyers in Southwest Florida and not very many decent properties in good locations in a $100,000 price range.

It is my opinion that condominium associations should have to keep a reserve to help homeowner's who can not handle larger assessments. It is heart breaking to see an older person or someone temporarily unemployed loose a property because work needs to be done which there are no reserves to cover the cost. If the association could finance the assessments for senior owners or temporarily finance the assessment for unemployed owners every ones properties values would be more secure and there would be less distress sales.

On my informative homepage you will learn about:

The #1 Mistake Real Estate Buyers Make

21 Critical Mistakes Buyers Make

20 Things the Listing Agent Does Not Tell You about Short Sales

Short Sale Fraud

Foreclosures - the Wild West of Real Estate

Unrealistic Buyer Expectations

Buyer Beware

Toxic Chinese Drywall

Link to the REALTOR® data base system to search homes in Collier and Lee counties.

I have been licensed to sell real estate in Southwest Florida since 1981. In 1993 I decided to become an Exclusive Buyer Broker. In 1998 I opened my own exclusive buyer broker firm.

I am friendly and easy to talk too.

When you are getting ready to make one of the most significant investments of your life, ask Beverly Howe first!

Florida Buyer Broker
Owner - Exclusive Buyer Broker
Certified Negotiation Expert
1031 Exchange Specialist
Certified International Property Specialist
Accredited Buyer’s Representative
Graduate of the REALTOR® Institute
Local Direct: 239-269-2766
Toll Free: 1-800-283-7393
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Fri Oct 11, 2013
Peggy Wagner- Brandon Hatton answered:
I see you already have your answer, but you should not need to refile that with the tax appraiser if the title was not transferred.
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Thu May 9, 2013
Marc Comisar answered:
Deborah.....each of the different sections have different insurance attached to their HOA's......that will be the main difference. They also all have management contracts....reserve requirements for roof replacement/paint reserves....etc. I know this community very well as I lived there for a short time when I moved here. Let me know if I can help in any way.
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Mon Jun 25, 2012
Marc Comisar answered:
I live and specialize in Estero. If you are looking for straight monthly ROI than you need to reconsider area. If you are looking for a book of factors than you are looking in the right place. Let me know if you need some help.
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