Cape Coral Real Estate

An additional hot spot will soon occupy the South Cape Entertainment district when the Dixie Roadhouse opens its doors in late August.

Because the closing of the Hired Hand Saloon far more than 13 years ago, numerous have anxiously awaited for the county scene to come back to Cape Coral.

Opening its doors on August 26, the Dixie Roadhouse will probably be a 10,000 square foot country and western nightclub located inside the heart of the city’s entertainment district. Coincidentally occupying exactly the same address as the Hired Hand Saloon as soon as did, the club can hold as much as 900 folks and promises to be new and distinctive option at the same time as a reason to get up off the couch and hit Cape Coral’s budding nightlife scene, “This will likely be one thing different than other clubs and restaurants. This is an actual nightclub,” says Dixie Roadhouse co-owner Lynn Pippinger.

The nightclub will probably be open its doors Wednesday via Saturday beginning at 5pm.

Looking to attract all ages, the club will offer line dance lessons nightly beginning at 7pm. At 10pm, music to pack the dance floors will start and play via the rest of the night, “The earlier entertainment and line dancing lessons will attract the older crowd. Once 10pm hits, the music shifts mixing country with classic rock, dance, retro and Best 40. That is when the younger crowd will come in and hit the dance floor,” says club co-owner David Townsend.

Whilst this may be the first club Townsend has opened in Cape Coral, he can be a veteran with the night club scene, having owned approximately a dozen clubs nationwide. He and Lynn also currently own Saddle Up in Chicago.

Townsend and Pippenger said they researched close to 200 properties across the nation when they decided to open up yet another club. Following narrowing their choices down to 25 properties, the duo hit the road and began visiting various places and buildings. When they drove into Southwest Florida, they knew they were on to one thing, “We came here and saw a marketplace with over 700,000 individuals, 3 country stations and no country nightclub,” mentioned Townsend.

The developing that Townsend and Pippinger had their eye on was the developing situated on SE 47th Terrace and SE 11th Place. The building was once the property of the Hired Hand Saloon and later the Bamboo Club, “We have really been seeking at the creating for the last year plus a half. It was built for a country and western nightclub. It had the bars in the precise locations we would have put them. Every thing was pretty significantly here. It’s far less costly to remodel than to construct. It was a ideal fit,” says Townsend.

Even though the creating may have as soon as been a country night club, do not anticipate the familiar appear that when was. The club is currently undergoing major renovations that consist of expanding the two,500 square foot dance floor, adding an additional bar, producing 3 bars total, two enormous fans over the dance floor and a new lighting system, at the same time as much much more.

Together with the new look, Townsend says they are also making innovative ways to make certain everybody will have an excellent time at a moderate cost. Drink costs, he says will probably be on par with other clubs and there is going to be methods to make the most of the $5 cover charge to obtain inside the doors. The club will supply poker chips with a $1 value to several of its customers. For example, if you come towards the club among 5pm and 8pm, if you pay the $5 cover charge, you are going to obtain five $1 poker chips to utilize toward drinks in the club during your go to. An additional way is if you want to reserve a table for the night, you pay the $100 fee for reservation and you are going to obtain 100 $1 poker chips to utilize toward drinks.

The club will also begin highlighting drink specials and hope to attract national music acts for particular events.

Townsend also says he considers the August opening phase one. He hopes to launch phase two within the next couple of months that can, l if all goes in accordance with program, a brand new deck on the back with the club, a patio on the front and utilize the roof best location with the constructing for patrons. He also hopes to hold a “Battle of the Bands” for local bands using the grand prize getting the chance to attend and play live in the Country Music Awards held later this year.

The club opening has also positively impacted the job marketplace, as it plans to hire roughly 60 local residents to function at the club with positions ranging from security, to bar staff, to advertising and marketing and much more.

Excitement for the club opening has raced across the city with the club’s Facebook page already garnering over 1,500 fans, “People are so excited we’re coming. We can’t wait to jump in and open the doors. It’s going to be exciting,” says Pippenger.

The club will open its doors August 26 and then have their grand opening September 25. To discover far more information concerning employment in the club you can pay a visit to their Facebook page where they also have VIP passes available for download.

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Comments (0) Jul 29 2011

First of all, understand the short sales.

A short sale is a transaction that happens when a homeowner is owning more money on his/her home than what it is worth in today’s Real Estate market, and when the bank or the lender is willing to take less than what the homeowner owes.
Most of the time, that bank or lender will be able to collect more money with a short sale than if the homeowner goes into bankruptcy or foreclosure. That’s why they will be listening to short sales under certain circumstances.
For the homeowner, the short sale transaction is a better situation than going bankrupt or foreclosed. They credit will be hurt for 2 or 3 years instead of the 7+ years in a foreclosure situation.

Secondly, here are a list of documents you will need in order to prepare the short sale transaction with the bank representative:

FOR THE REALTOR:

• ~ Signed letter of authorization from seller authorizing you to negotiate with the lender on their behalf.
• ~ Letter of facts about the property. Everything that is wrong with the property and why it is impossible to sell it at a higher price.
• ~ Current Market Analysis. Highlight comparable sales that reflect the lower value.
• ~ Photographs. Remember, the photographs aren’t to highlight a charming house. Photograph evidence of damage, bad location, etc…
• ~ Evidence of all showings and feedback. Explain to lender results and conversations you’ve had while trying to sell the property.
• ~ Copy of listing contract/MLS Listing/MLS history.
• ~ Current “AS IS” CMA.
• ~ Copy of purchase contract if you have one.
• ~ Preliminary HUD
• ~ Make sure the seller has a detailed, tear jerking letter of hardship. See an example here
• ~ Sales and services Quotes

Also, insert copies of the following if any:
1. Code Violations
2. Fines
3. Hearing Information regarding the maintenance of the property
4. Evidence of lawsuits the City is filing against lenders
5. Evidence of pending litigation or changes in the law
6. Insert Tenant / Landlord provisions if it helps your case
7. Evidence of the town / city’s enforcement of fines against other banks
8. Latent Material Defect
9. Sexual offenders and predators

FROM THE SELLER:

-Two years tax returns and W-2’s.
-Three months bank statements.
-Pay stubs for last 30 days.
-Detailed monthly budget.
-All mortgages with account numbers.
-Copy of the deed.
-Copy of the note and/or mortgage
-Pending bankruptcy, or other action/judgment or lis pendens.
-Tear jerking hardship letter. See an example here

Buyers generally get a lot more house for their money in a short sale situation, because these properties are usually very competitively priced in order for the sellers to unload them before they end up in foreclosure. It’s a very good situation for them. The only downside I see is often the multiple offers situation for those short sale properties. But there are a lot of short sale properties available in the Cape Coral Florida market than in other parts of the country, so this area is the place to buy!.

So, if you are thinking of buying a short sale, here are 3 tips:

1 – Find a Realtor with short sales experience. There are many rigorous short sales and foreclosure training programs available to real estate agents, including the Certified Distressed Property Expert (CDPE) and the Short Sales and Foreclosures Resource Certification (SFR). If you wish to purchase a short sale property in Cape Coral, Florida, or anywhere else for that matter, you will greatly increase your chances of getting your deal to closing if your agent is experienced and comfortable with short sales….either through a short sales certification program, or through hard knocks experience in the field.

2 – Get pre-approved. No short sale offer will be considered without a pre-approval or a proof of funds letter. If you have not yet been pre-approved by a local lender and are not sure who to call, your real estate agent is a good source of referrals. The pre-qualification process generally takes less than 30 minutes, and can be done over the phone, however, a pre-approval takes longer but is better than a pre-qualification. Make sure you work with a local lender – today’s wild & woolly finance environment means that you greatly increase your chances of closing a deal if you use a local lender with a good reputation. All short sale offers must be submitted with a pre-approval letter, or with a proof of funds, as bank’s statements, in the case of a cash transaction.

3) Submit your highest and best offer the first time around! Lenders generally do not counteroffer….they will either say “Yes” or “No”. So if you are going to go through the process of waiting 60 days or more to hear back from the lender, you will greatly increase your chances of hearing that “Yes!” if you submit a good, solid offer with no contingencies.

Once you submit an offer that is approved by the seller, the seller has to submit your offer to their lender to see if the lender will accept the offer as well….remember, in a short sale situation the lender is agreeing to accept less than what the homeowner owes on the mortgage…..and the lender is going to do whatever they can to minimize the amount of that loss to their bottom line. Parting with their profits is not something that comes easy to lenders…..so it takes awhile to find out if they are willing to take the level of financial beating that is inherent in the amount you are offering. Sometimes the wait can be up to 90 days….sometimes much more (the amount of the wait often depends upon which lender holds the paper).

Look at the frustrating wait time as the price you pay for getting the chance to get a home you might not otherwise be able to afford.

If you want to receive listing from banks, this program will give tremendous help to get in the game as well.

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Comments (0) Dec 31 2009

If you are a Real Estate agent, you will most likely be confronted to short sales soon or later, especially if you are in Florida. Here are some tips to master those short sales.

First start off listing the property right in the mid range of all the other comps and current listings in the neighborhood. If the comps and current listings range from $150K – $180K for example, then you want to
start off listing your property around $165K.

Secondly, you reduce the list price by about 3% each week until you receive an offer on the property.
So in this example you would drop the list price by about $5K each week until you received a solid offer.

Remember, when you first list the property you will also be submitting a COMPLETED Short Sale packet to the lender (with a lowball offer)… Once you do this the lender will order a BPO which will usually take 3-4 weeks to complete.

So in this example, by the third week of lowering your list price you would be the lowest priced property in the area, which would also be about the same time that the BPO would be completed by the lender.

This means that when you do receive a solid offer on the property, you will be able to get an answer from the lender very quickly, now that the BPO has already been done.

Another possibility in this situation is that you drop the list price from $165K to $160K after the first week and you then get an offer on the property… Now you can leave the list price at $160K while you work on getting this very strong offer approved by the lender…

Remember, if you started listing it to low, you would never have received an offer this high…
When you use this strategy you can also show the lender your activity report on the property. You can show them that you made an attempt to get them the highest possible offer.

Here is why this is important…

The lender knows if they ever had to Foreclose on the property, they would have to pay attorney fees, auctions fees, and the process may take more than 6 months.

And that’s not all…

After all that time and money, they would have to list the property as an REO and do the same thing that you just did! List the property and then keep dropping the price until they get an offer.

Here is the key…

By showing the lender that you have already done exactly what they would have to do, and that you can save them 6 months of expenses, it will make your offer much more likely to get approved. If you can get a dollar number for those expenses, the bank will see you know what you talking about and will most likely follow you advice, and even gives you more listings.

This is the only way to make sure your Short Sales get completed in a timely manner and you don’t waste your valuable time with listings that sit on the market with no activity for months.

Comments (0) Dec 01 2009