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Home Buying in Cape Coral : Real Estate Advice

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  • Local Info75
  • Home Buying403
  • Home Selling27
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Activity 357
Mon May 28, 2012
Michael Cheng answered:
The answer will depend on the local agent. Sometimes the agent is working at a brokerage with coverage in multiple areas. If you can't find one like that, then it makes sense to get separate agents. ... more
0 votes 11 answers Share Flag
Fri May 11, 2012
Frank Glaab PA answered:
Jww,

There are some people who would do things similar to this, but it is rare that we see these. I can definately keep a lookout for a seller that would consider a trade and let you know. Shoot me an email at Frank@gulfgatewayrealty.com or call me at 239-243-6224. ... more
0 votes 3 answers Share Flag
Mon Aug 8, 2016
Douglas Robnolte answered:
There is not one that I know of but we aleays have buyers do home inspections and any proplems like these are easy to spot.

The year in which it was built can be an indicar=tor.
0 votes 15 answers Share Flag
Tue Nov 19, 2013
Susan Callahan answered:
Not every builder used CDW and it's very noticeable !
Primarily homes built between 2003-2008 are suspect, but that doesn't mean they all have it. In some instances there was only a few sheets used and in others the whole house has it. They is no shortage of websites showing the cause and effect of CDW. If you google it you'll find all information needed including pictures and how to remediate homes with CDW and the costs to do so.

If you're buying a good home inspector will detect it. But there are signs you can be looking for.
Google it and educate yourself as you are the first inspector of any home your interested in.
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0 votes 21 answers Share Flag
Thu Apr 12, 2012
Steve Geving answered:
Yes, it is possible. Departments within the banks do not communicate well with each other. I have seen homes go to foreclosure with an approved short sale.

Steve Geving
(O) 239-573-1400
(C) 239-321-1395
(F) 239-288-0537
stevegeving@hotmail.com
www.swflhomeresource.com
Jones and Co Realty
... more
0 votes 8 answers Share Flag
Sat Jun 16, 2012
Frank Giaimo answered:
Like with any other offer the Seller (Person that has the name on Title) is the one who chooses the buyer, the offer does not have to be the highest in terms of dollars or terms. If a lower offer was accepted by the Seller then that offer along with a "Package" of other information is sent to the bank. Once the Bank is done negotiating with the 1st Buyer they either go into Escrow or look to a "Backup" offer which it sounds like yours is. This is not like an Auction. Be Patient. Most of our Short Sale Listings end up going to the 2nd or 3rd offer do to a variety of reasons. ... more
0 votes 12 answers Share Flag
Tue May 22, 2012
Elva Wormley answered:
Hi Chris,

Yes, you will need a 12 month payment history from the trustee to show that you have been making your payments on time.

I suggest you speak with a mortgage professional in your area.

Best regards,

Elva A. Wormley
C2 Financial Corporation
(408) 615-8500
... more
0 votes 7 answers Share Flag
Thu Mar 22, 2012
Margaret Hassani answered:
I don't believe it's possible to get a loan through conventional channels with and open Chapter 13. I could be possible with hard money, a high down payment and a high interest rate.
0 votes 8 answers Share Flag
Wed Jan 9, 2013
Reggie Blough answered:
Yes. Have been since 2009. For those waiting for the bottom....that train has left the station.
0 votes 10 answers Share Flag
Fri Mar 16, 2012
Steve Geving answered:
Though gated communities are desirable, many people choose Cape Coral so they do not have the restrictions of a HOA. I think your best dollar appreciation will come from Gulf access and your best % increase will come from homes on dry lots.

Please call or email if you have any questions.

Steve Geving
239-573-1400
stevegeving@hotmail.com
Jones and Co Realty
... more
0 votes 14 answers Share Flag
Sat Apr 7, 2012
AJ Ackerman answered:
Great Question!

First and foremost, none of us have a crystal ball or can see into the future. With the uncertainty of new foreclosures, election year, and uncertainty of international markets, it is difficult to 100% say just yet.

I believe that if we stay stabilized or rise in prices over the summer, you will most likely never see these prices again.

In my opinion, Cape Coral Fl is a very special city! Considering we are one of the few towns that prices fell the farthest. I believe we are making a come back. Prices dropped around 59% from the height. We are seeing a large decline in our foreclosure inventory, as well as, an increase in home prices of around 10% in the last 6 months. I have some buyers, who purchased in the last 2 years, that are seeing a 20% increase in equity in some cases. WOOHOO!

My Reasons to believe in Cape Coral Real Estate appreciating:

-Foreclosure and short sale inventory is and will continue to decrease
-Consumer Confidence is growing!
-United States is recovering ( Up and Down Cycles are a natural occurence, we are heading for a rebound in the housing market! )
-Banks will be aloud to loosen up mortgage requirements a little
-More Jobs available for people
-New construction is up and will continue
-Warm and Sunshine most of the year
-over 400 miles of canals
-Rising interest from 2nd home owners in Canada, Europe, Australia, and Northern States to buy now before the prices get too high
-City water expansion throughout the whole city!
-new VA hospital in NE Cape being built
-Continued growth of Cape Coral government to better the city
-more new business opening up and attention from large corporations buying up commercial property

Check out my ebook "12 Reasons to retire in Cape Coral, Fl." for more at my website.
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0 votes 9 answers Share Flag
Mon Mar 19, 2012
Danielle Sharp answered:
The bank does not see the contract until the seller accepts an offer. Unfortunately there is no set timeline right now for an answer from the bank on whether or not they will accept the price and terms offered. It can take anywhere from 30 days to months. Once you do receive approval there is no rule that says you can't negotiate although no guarantee that it would be accepted but you can try.

Short sales are very complicated with many different moving parts - mortgage, first mortgage, associations, mortgage insurance, other liens etc. Add in people to that mix and it can be speedy or drawn out.

Do you have an agent you're working with on a short sale purchase? I would definitely talk to them about how things work, what to expect and the process. If you do not have representation feel free to contact me.
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0 votes 16 answers Share Flag
Sat Apr 7, 2012
AJ Ackerman answered:
Tip #3: How to Choose an Agent

Real estate agents have gotten a bad reputation as “salespeople” who hold selfish interests in your home.

On the other end of the spectrum, successful and reliable agents, while experts in marketing and sales, are experts in negotiation and advisement when you are selling or buying your home. Knowing what to look for and how to pick an agent will ensure that the process goes seamlessly and quickly.

Many horror stories have circled about agents pushing expensive listings (that yield maximum commission), their own listings, or demanding that buyers make decisions on few options before they are ready to do so.

The most important aspect of the buying or selling process is knowing how to pick an agent who will keep your best interests in mind.

Personality
Make sure that you mesh well with the personality of your agent. You will inevitably spend a lot of time with your agent discussing deals whether you’re buying or selling. Trust must be established with an agent that you get along with before a successful transaction can occur on either side of a deal.

Experience
Choose an agent that has experience in selling real estate in general as well as in your desired area. An experienced agent that specializes in one area in particular is usually the first to know about great deals in your desired neighborhood, often before they come onto the market.

Listening Skills
Choose an agent that spends more time listening and asking questions than telling you what they think you should do. Understanding the wants and needs of a buyer or seller is my first priority when helping people. Everyone has different goals and it is important to tailor strategies specific to these goals. I find the more I listen, the better we can achieve goals together. =)

Home Searches
90% of all buyers start the home search on the internet. The internet is a great way for a buyer to begin the journey of buying their home. Unfortunately, all of the websites are not up-to-date. Be sure that your agent has you on the most up-to-date program available ( I will keep mine a secret for now ). It should also act as a management program and keep you notified of current and new home availability. If you do not love it, then it is not the right search for you.


12 Tips to Buying Real Estate in Southwest Florida
Learn more by visiting www.AckermanSWFL.com or calling (239) 565-7867.
Copyright © 2010. AJ Ackerman & Associates. All Rights Reserved.
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0 votes 3 answers Share Flag
Mon Mar 5, 2012
Terry McCarley answered:
The process can take as little as 30 days for approval to as a long as a year or longer. Who the lender is, who the negotiator is, how many loans are involved etc...all determine the timeframe as well as other issues. A good short sale agent will know what questions to ask the listing agent to get an estimated time for a response. The major pitfall can be trying to buy a short sale that has too many issues (multiple loans, uncooperative sellers regarding paperwork required etc...) which may result in the short sale never getting approved at all. ... more
0 votes 5 answers Share Flag
Fri Mar 16, 2012
Steve Geving answered:
Spend within your comfort zone. Do not let anyone convince you otherwise. It doesnt matter if you can qualify for a larger loan amount, no one knows your lifestyle like you.

A seasoned agent that you feel comfortable with can also be a great asset. They should be able to guide you through every step of the process easily.

Steve Geving
239-573-1400
... more
0 votes 7 answers Share Flag
Sun Mar 4, 2012
Joe Sansone answered:
Everything is negotiable but traditionally in Lee County the buyer pays costs associated with the loan and home inspections and the seller pays costs associated with selling the property. ... more
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Fri Mar 2, 2012
Danielle Sharp answered:
Hmmm.....the cost of buying a home (and I don't mean purchase price). Inspections, appraisal, closing costs, repairs all of it adds up really quickly.

The process itself is typically a surprise. Multiple offers, negotiations. Unless explained extremely well they can blindside someone. ... more
0 votes 9 answers Share Flag
Mon Feb 27, 2012
James Sommers answered:
The SE portion of Cape Coral can be more active because you are closer to many of our amnities. For example the Yacht Club is very walkable and it has our first beach, fishing pier, tennis courts, and city swimming pool. You also have the different parks, like Jaycee Park on the Caloosahatchee River at the end of Beach Parkway. And you have Rotary Park with it's nature trails and dog park at the southern portion of Pelican Blvd. The South Cape Coral area has 50 restaurants and clubs, many with entertainment like live music. If you like I can e-mail additional information. ... more
0 votes 11 answers Share Flag
Tue Feb 28, 2012
Danielle Sharp answered:
I always write for 7 days. Not every inspector is unwilling though......I highly highly (did I mention highly?) recommend Artie Moxham. Extremely thorough job, fair price, great reports and if you and the seller negotiate repairs he'll go out to reinspect them at no cost.

Artie
ajmagnumhomeinsp@aol.com
239.443.0058

Tell him Danielle recommended him (I don't get a penny for referrals, we all like to track where business comes from)!
... more
0 votes 13 answers Share Flag
Sat Feb 9, 2013
Tina Lam answered:
A rule of thumb I work with is to offer no lower than about 5% below the average closing percentage for the area. For example, in my neighborhood, homes have been selling for about 98-100% of the asking price. So, I would recommend offering between 93-95% of the asking price as a start. But, a lot depends on how much interest there is in the property. If you see the open house packed with interested buyers, expect to offer something within a percent or two of the average sold percentage to stay competitive. ... more
0 votes 17 answers Share Flag
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