Cape Coral Real Estate

Four out of 10 of the most expensive luxury single family homes publicly listed in the MLS are located in Tarpon Point Marina and all of them in the South of Cape Coral.

The largest  is a 11,772 s/f mansion located on Bayshore Drive and is listed at $5,395,000 or $458.29 per s/f.

The most expensive is a 5,808 s/f property located in the Tarpon Point marina and priced at $5,750,000 or $990.01 per s/f.

Tarpon Point Marina also has the most expensive penthouse in Cape Coral. It’s a 5,296 s/f condo listed at $4,200,000 with a possible owner financing !

TOP TEN MOST EXPENSIVE PROPERTIES PUBLICLY LISTED FOR SALE IN CAPE CORAL

1 ) $5,750,000 – 6016 Tarpon Estates Blvd

cape coral top ten most expensive mansion

2 ) $5,395,000 – 358 Bayshore Dr

Top Ten Most Expensive Properties in Cape Coral

3 ) $2,950,000 – 6000 Tarpon Estates Blvd

Top Ten Most Expensive Homes in Cape Coral

4 ) $2,499,000 – 101 SW 54th St

Cape Coral Top Ten Most Expensive Properties

5 ) $2,495,000 – 5502 Harbour Preserve Cir

Top Ten Most Expensive Mansion in Cape Coral

6 ) $2,400,000 – 4842 SW 29th Ave

Top Ten Most Expensive Real Estate in Cape Coral

7 ) $2,250,000 – 5229 Nautilus Dr

Top Ten Most Expensive Homes in Cape Coral

8 ) $2,250,000 – 6062 Tarpon Estates Blvd

Top Ten Most Expensive Waterfront in Cape Coral

9 ) $5,250,000 – 6038 Tarpon Estates Blvd

Top Ten Most Expensive Real Estate in Cape Coral

10 ) $1,999,900 – 1712 SE 44th Ter

Top Ten Most Expensive Properties in Cape Coral

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Comments (0) Jun 04 2011

I just got this article from Realtor.com regarding the areas with the highest price rising and the highest price decrease. It’s very interesting for us since the Cape Coral – Fort Myers area is number one as the highest rising price area. Have a look:

Southern metro areas dominated a list of the 10 markets with the biggest year-over-year increases in median list price in April, according to monthly data released this week by Realtor.com. The data considers 146 metro areas nationwide.

Two Florida markets saw the highest jumps: median list price in Fort Myers-Cape Coral rose 25.7 percent to $225,000, and the median in Miami rose 8.6 percent to $239,000.

Shreveport-Bossier City, La., followed with an 8.1 percent increase, to $173,000. Fort Myers-Cape Coral and Miami also saw the biggest year-over-year drops in inventory: -25.3 percent and -29.9 percent, respectively.

The two Florida markets were the only metros in the top 10 to move properties at a slower rate than the national median: 95 days. Median age of inventory for each was 116 and 129 days, respectively.

In order to obtain the median age of inventory for each market, Realtor.com subtracted a property’s listed date from whichever was earlier: its end listing date or the end of the time period, and took the median of all the resulting individual days on the website.

The three other Southern metros to make the list were Charleston, W.V.; Tyler, Texas; and the Virginia segment of the Washington, D.C. metro area. (Realtor.com separates data for metro areas that encompass multiple states.) The Washington, D.C., metro was the fastest-moving among the 10 markets with a median inventory age of 57 days.

In the U.S. overall, the median list price fell 4 percent year-over-year in April, to $191,900.

Two Midwestern metros (Columbia, Mo.; and Peoria-Pekin, Ill.) and two Western metros (Fort Collins-Loveland, Colo.; and Anchorage, Alaska) made the list. No market in the Northeast was among the top 10.

Eight of the 10 metros saw their inventory decline year-over-year last month, six of them by double-digit percentages. Only Anchorage and Tyler saw their total listings rise: 15.7 percent and 3.6 percent, respectively.

Nationally, total listings fell 8.3 percent.

Among the 10 markets with the fastest-dropping median list prices, Western metro areas prevailed, accounting for six among the top 10; two are in the South and two are in Midwest. All 10 saw double-digit declines compared to April 2010. No Northeastern market made that top 10 list.

Santa Barbara-Santa Maria-Lompoc, Calif., saw the biggest price decline: down 26.2 percent to $498,250. The market was also one of two to see its inventory rise year-over-year, by 6 percent. The other was Reno, Nev., with a 9.5 percent increase.

Inventory declined by double digits in six of the remaining eight markets. Savannah, Ga., experienced the sharpest decline: -48.3 percent.

Savannah was also one of three markets with a median age of inventory above the national median. The market’s median inventory age was 198 days in April, though that represents an 11.2 percent decline from April 2010.

I hope you bought last year. If not, give me a call to begin right away. It’s still time to build some serious equity here, in the Cape.

Comments (0) May 25 2011

I have a certain number of phone calls from out of state potential buyers. They’re looking online for Cape Coral properties and usually, they can see low price homes that look very nice. When I check them, most of them have defective drywall. And most of those buyers have a vague idea of what is defective drywall, most commonly called chinese drywall.

Most of the time I can explain the issue, but recently, I was showing few properties and came across a home showing the effects of the chinese drywall. I took the opportunity to shoot a few photos. A picture worth a 1,000 words

The next 3 pictures show the 2 copper water pipes underneath the kitchen sink. The corrosion of metal in general and copper in particular due to the defective drywall shows a black substance on the copper. The first pictures is the actual 2 pieces of copper. On the second one, you can see my finger is clean while on the 3rd picture, I touched the pipe and got that black substance on my finger.







The next pictures is the lightning fixture in one bathroom. You can see how the metal coat is pealing badly due to the defective drywall.


You can also see the effects of the chinese drywall on the silver behind mirrors. I try to catch a few pictures of mirrors where the silver is pealing behind, showing a kind of black stain.






Here is a picture of an electrical outlet where you can see the screws all blackened and any part of copper wiring out the plastic cover is balck as well.


Another picture where you can see the metal is pealing.



Of course, I’m only a Real Estate agent. For confirmation of what can do chinese drywall, you should talk to a drywall specialist. He or she will be much more qualified to explain the effects of chinese drywall.

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Comments (0) Mar 17 2011

I use to prospect by knocking on doors or distributing fliers. That gives me some phone calls and leads.
One of them was from a young couple with 2 kids. She called me to pass by and discuss what I can do in order to list and sell her home.

I stopped by and was in front of a nice and cozy wood frame house with a big basement that includes a 2 car garage.
At the dining room table, she explained that her husband and her were behind payment, that they needed to sell yesterday.
But the market was slow. I immediately understood that it will be a tricky listing. That couple was in trouble and needed to get the home sold as soon as possible. They knew that with the market, it will be difficult.
I took the listing. We signed the paper works and I said I’ll get in touch on a weekly basis.
They had their small electric company. Her husband was electrician and she took care of the paper work and customer care plus appointments and so on.
But the business was not good enough. And those financial distress made it even harder on their life as a couple.

After a couple of weeks, I had few showing, because we were agreed to list it at a below market value to make it faster.
But still, no offer on the table. So we were back on the dining room table again. I was bringing an idea for her.

It was what I sometimes offer to sellers as an investor: taking over the payments… and the house!
I explained how it works, what for her and what’s for me, how we can get this done smoothly and easily, how I could go around the bank, etc…

So, basically, the house worth $160K with an existing balance mortgage of about $140K.
I, of course, disclose everything I had too, the fact that I was an agent, that I could sell it with a profit later on, that she would walk away from the closing table with no money and no house. She agreed.
I paid the due payments and did a quit claim. I just had a house for the few thousands late payments.
She was relieved. She called me several times telling how glad she was, that now, she sleep much better even if she was going through her divorce, the situation had killed her marriage.
She was starting over. From her father’s garage converted in a room for her and her 2 young children, she was studying to become a nurse. It was a 2 years thing. 2 years that I enjoy the house for myself.
She didn’t call me after those 2 years, I did. She was working as a nurse, a high demand position. She was re-building her life, her credit and I was making her payment, keeping her credit score as intact as possible. She was very courageous.

I had an offer for her: to get her home back. For free. She got me the back payments I paid for her and we did a quit claim again.
She was back in her home with her 2 children. She had the little improvements I did in the house. Few walls in the basement, hardwood flooring and fresh painting.

It’s been a great feeling to be able to help someone in one of the most difficult time of her life. And very rewarding.
Of course I had a call from the bank, but we agree that a check from an unknown person is better than no check at all.
I passed by time to time, but without disturbing. A little kitten has been included to the family and the small cherry tree I planted in the yard has become stronger, battling hard weather. Life goes on. I think I was making her a favor but when I decided to quit claim it back to her, she really made my day thinking all she went through and all she became.

To be a Realtor is a true privilege. We got most of the times more than decent check for most of the times less hard work than some people. We need to realize that and never take it for granted. Look around and ask yourself: “how can I help someone today, for free?”
You may get the highest pay check ever: satisfaction of a job well done.

Comments (0) Feb 06 2011

I got an article from my broker regarding purchasing a property these days see on the daily wealth website. It was kind of incredible to compare the time we are are living these days with the past.

Right now, is the most effective time in history to purchase a house in America.

These days, I’ll show you why… based on a few cold, challenging facts.

First, mortgage rates are lower than they’ve ever been in American history…

Most investors have only seen a couple decades of mortgages rates on a chart. But my buddies at Global Financial Data have databases – which includes real estate data – that literally go back centuries.

I had dinner with the Global Financial Data team over the weekend. And they told me about their “Winans International” real estate indexes, with housing costs back to the 1800s and mortgage rates going back over a century. I had to share it with you…

Take a look at this chart of mortgage interest rates since 1900:

In U.S. history, you can see that the current mortgage rates are the lowest.
The last time that the mortgage rates were so low was just after World War II.
And what happened, just after World War II, when mortgage rates were this low?
The greatest postwar boom in housing prices – by far.

Take a look. Mortgage rates bottomed in the mid-1950s, and house prices bottomed about the same time. Then the greatest boom in home prices in our lifetimes started.

Today we have record-low mortgage rates. And we have another thing in our favor…

Homes are more affordable than ever.

Based on the 40-year history of the Housing Affordability Index… houses are more affordable than they’ve ever been. Take a look…

“Affordability” takes three factors into account: home prices, your income, and mortgage rates.

Home prices have crashed. And mortgage rates are at record lows. But incomes (nationwide) haven’t fallen nearly as much… So homes are now more affordable than ever.

“Most people” out there will only tell you the bad news about housing… That’s the way it goes in a bear market. People drive looking in the rearview mirror.

Meanwhile, we have some darn compelling facts out there…

Home prices have fallen by a third… and mortgage rates are the lowest in history. Therefore, U.S. homes are more affordable than they’ve ever been.

You can listen to “most people.” Or you can choose to ignore them and stick to these facts.

Based on these facts alone, now may be one of the best times in American history – even the very best time – to buy a house.

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Comments (1) Jan 30 2011

It’s all over the news that the next generation of buyers would rather go with a smaller size home and use every inch of it instead of a big one with unused space.
The U.S. Census Bureau finds that the median size of a new single-family home nationwide continued to get smaller last year and that the downward trends is likely to last significantly beyond the end of the recession.
It was 2,268 square feet in 2006 and dropped to an even 2,100 last year.
And honestly, when I talk with buyers these day, I have a similar answer about this. It seems that the living room as we know it, meaning the room closed by the entrance and used to entertain people that we know less than family members without to get them in the core of our home has a tendance to be more and more useless. I guess it will disappear soon or later and we’ll entertain folks in the family room instead. The second point from buyers is the dining room. This one is still used but it seems that the use is only when an event occurs or when more people than the family is having a reunion. But most of the time now, the family eat more in the kitchen or in the breakfast area. I don’t see the dining room disappearing though.
However, those square feet have a better use in the younger buyers now. An office with all connection seems to be a better use than a living room. Overall, smaller square footage with a smaller price tag is what we are going to see in the future.
Looking at the specific amenities, there is a steady decline in the number of homes that were started since 2005 with three-car garages, fireplace, patios and deck. On the other hand, porches and heat pumps were on the rise. Home are getting more and more “green” as well.

Comments (0) Jan 20 2011

Client after client, I have to explain the differences between a short sale, a foreclosure or just a plain regular sale. People want to know and be educated on the matter. And most of the time, they don’t want to touch a short sale at all after understanding the full short sale process.

I’ve read also that many real estate agents are in the same boat than I am and I wonder if they are not showing their clients short sales because they don’t want to deal with short sales or if their buyers have made the choice to eliminate them from their home search. Most of the time, for me, clients just say no to short sales because it’s time consuming.

I had a thought about that the other day and wondering if an agent choose to exclude short sales regardless what their client wants, does that violate the Exclusive Right-To-Buy Listing Contract?  What if the agent eliminates short sale properties that match a buyer’s criteria and the buyer never chose to exclude short sales from their search?  I’ll say yes, if you have such a contract in force. And I rarely go with it. On the other hand, I feel that I save time and money to my clients. I’ll add short sales only if my clients ask for it.

There are situations where short sales obviously do not work for buyers.  If the buyer has to buy a home fast due to a lease expiring or he has been transferred to another work branch and staying in a hotel room is not acceptable, especially with family members, pursuing short sales is probably not a good idea.  There are cases where a buyer really likes a short sale property but doesn’t have time to play the waiting game.  Most of the time, I write a time contingency for my client and keep looking for a better property.

Whether they are afraid of them, hate dealing with them, or do not have the knowledge to work them, agents who do not want to show buyers short sales need to make it clear to their buyer that they do not show short sale properties.  If the buyer still wants to view short sales, the real estate agent needs to refer the buyer to another qualified agent. Because let’s face it, if no one is showing short sales, they’re not going to be sold anytime soon. A good solution in my opinion is for the listing agent to get an acceptable price from the bank before putting the property for sale to the public. The sales price will be accepted by the bank and we can face a regular sale within acceptable time frame.

Comments (0) Dec 11 2010

This past week, I had 2 clients asking me questions about the differences between listing contracts. So as usual, I try to explain in a post here, on my blog and refer them the link.

There are 3 different Real Estate listings contracts:

Exclusive Right to Sell Listing

This is by far the most common kind of listing between sellers and brokers.
Under a exclusive right to sell listing contract, the broker is the only one authorized to sell your house.  If another agent finds a buyer, your broker earns a commission. When you find a buyer on your own, your broker still earns a commission. This arrangement gives your broker the most incentive to spend time, funds and energy advertising your residence, particularly to the other agents inside the region who can show your home to their buyer clients. Only with an exclusive right to sell agreement can you expect to get a full service marketing effort from your broker, since it is the only listing contract that assures a broker will get paid for his advertising expense and efforts when the property sells.

Exclusive Agency Listing

This is comparable to the right to sell listing, with the substantial distinction that you simply reserve the right to sell your residence your self and not pay the broker a commission. The broker only gets paid if your house is sold through a licensed real estate professional. If you uncover your own buyer and sell the home your self, you pay no commission. On the face of it, this may sound like an attractive arrangement. Nonetheless, it’s not a well-liked listing kind with brokers for a very great reason. Under an exclusive agency agreement, the broker is exposed to the risk of putting forth considerable effort and expense advertising your residence, only to come away empty handed. The attraction to the seller for this type of contract is the possibility of discovering their own buyer and not paying a commission. This puts the seller and broker in competitive roles, which commonly is not inside the ideal interest of either party. Since the broker stands a great chance of not reaping any reward, it’s unlikely that any effort or expense might be put into advertising an exclusive agency listing.

One Time Showing Agreement

This is an agreement whereby a For Sale By Owner agrees to let an agent show the property to an interested Buyer and then pays a commission to the Broker if the showing outcomes in a sale. The purpose of this agreement is to stop the seller from dealing directly with a Buyer that a broker introduced to the property so that you can keep away from paying any commission. Again this type of agreement offers pretty small incentive to a broker to bring buyers to your property.

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Comments (0) Nov 30 2010

Un grand bonjour à tous les francophones,

J’ai pense qu’il est temps de poster un petit mot pour les francophones. J’ai effectivement de plus en plus de contacts, coups de fil et courriels de francophones qui cherchent à acheter des biens immobiliers à Cape Coral en Floride. Et la plupart sont de France.

Donc, meme si vous parlez anglais couramment, une transaction immobiliere aux Etats-Unis est suffisament compliquée pour s’armer d’un agent immobilier sur place qui parle français. L’achat d’une maison ou d’un appartement à Cape Coral en Floride, que ce soit pour les vacances ou meme comme investissement, require certaines étapes qu’il est necessaire de maitriser.

Avec 19 ans d’experience dans le milieu immobilier et plus de 10 ans d’experience en tant qu’agent immobilier aux Etats-Unis, j’ai conclu un grand nombre de transactions avec des vendeurs et acheteurs venant d’Europe et d’Amérique latine (je parle couramment l’espagnol également). Je suis moi-meme d’origine Belge et parfaitement francophone

Le fait de pouvoir parler français m’a aussi apporté une quantité d’acheteur provenant du Canada, en particulier du Quebec. Je les aide durant toute la transaction d’achat, et bien souvent au-dela.

Donc, n’hésitez pas à me contacter si vous désirez vendre ou acheter une maison ou n’importe quel bien immobilier  à Cape Coral, Fort Myers, Lehigh Acres, Sanibel et les alentours. Vous verrez que l’aide d’un agent immobilier francophone Floridien est un atout non-négligeable tout au long de votre transaction.

A tres bientot j’espere!

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Comments (6) Nov 21 2010

Today I break two records since I have my Real Estate license, about 10 years ago now.

The first one is I made, so far, more offers than days in the month. We are Nov 18 and I made 19 offers so far.

The second one, and most important for me, the last offer passed the limit of the 10% higher than asking price. Last year, offers were about 2% to 5% below asking price for those foreclosures in Cape Coral. Last spring, they were about on the asking price. Since last summer, buyers had to go higher than asking price for any Cape Coral foreclosure. November and I had an offer at $301,000 for an asking price of $272,900

Now, what’s amazing is my client has been outbid! Someone offered an even higher price for a foreclosure. That’s a very good sign. We were in a buyer’s market and we are entering a very strong seller’s market.

Of course, everything is not lost. My clients are cash buyers and very motivated to buy. So tomorrow will be another offer for them. I’ll have to suggest to pass the 10% above asking bar though, but they know that already

I often have newer buyers calling me about foreclosures in Cape Coral. When I explain that an offer at asking price or below is just not enough, some of them are a bit sceptical. Some believe I’m bluffing to get more commission, other will try another agent, just to hear what they want to hear. The remaining buyers will try several times below asking until frustration appears. Then, they will remember what I said and will try full asking price offers. Most of the time, if not every time, they will be outbid. Usually, the number of offers at asking price is lower than the previous offers at below asking price. They seems to understand faster. That’s when they hit the third level, and honestly, they can be frustrated as well.

The prices of the foreclosures in Cape Coral, Florida, are increasing, little by little. The demand is there and starving for “good deals”. The best time to buy a foreclosure in Cape Coral was last year and winter-spring 2010. The market is rebounding and for those who didn’t catch the train will regret soon or later.

UPDATE:

Today is March 29, 2011 and I wanted to give some updates.
Last November, when I wrote this article, there were more than 1,000 foreclosures in Lee County. Today, there are only 389! That’s mean we are going forward the end of the foreclosure crisis. And, banks realize that they can get more money now for their properties. The good prices we saw in 2010 are not there in 2011. I hope you bought your foreclosures last year.

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Comments (1) Nov 19 2010