Do you really need a Real Estate agent to purchase a property?

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Do you think you can write an offer on a Cape Coral foreclosure for sale without the help of an agent? The answer is a big YES!

If you think about it, my guess is you want to save the typical 6% commission that we make. If it’s the case, you are completely mistaken. First, our commissions are not set to be 6%. It’s negotiable. And in the foreclosure and REO world, it’s the bank that decides how much they really want to pay. Most agents doing foreclosure make about 1 to 2% of the closed price as the seller representative. So the buyer’s agent is really doing something like 2 to 4%. In that case, if you represent yourself for that foreclosure home purchase, you’re really saving about those 2 to 4% commission.

Now, prepare yourself to get an accepted offer on that Cape Coral foreclosure house for sale. You will need a few things checked with the listing agent, and I have been in contact with most of them, they use to be very difficult if they are not in front of another agent because they think they’ll have to do all the work believing that you won’t be able to do your part:

  • What kind of paperwork do they want?  Typical is proof of funds, pre-approval letter from your bank, etc…
  • How many offers are on the property? Maybe it is a multiple offers situation already.
  • Is there a mandatory minimum MLS marketing time?
  • How do they want to receive your offer?  Fax, website or email.

So, once you have all that done, you’ll be able to put a good offer but you will need to know something important: the price. Don’t google that. You will not be able to rely on sites like Zillow or Trulia for pricing. They are not accurate. Hire an appraiser instead, especially if you do not have access to your local MLS. The point here is that you don’t want to pay too much or too little. Too much and you may overpay for the property and too little,you may lose the home to higher bidder.

You can also read this buying a foreclosure in Cape Coral post for more tips.

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Comments (0) Sep 26 2011

Cape Coral: second best place to retire

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I read an article published by cnnmoney about the 10 best places to retire. Cape Coral was voted #2!. So that’s good news after all the effort put into making Cape Coral a better place to live.

The single most effective move in making your retirement stash go further is, well, a move. “There’s nothing more powerful than relocating from a high-cost-of-living area to a low-cost one,” says Baltimore financial planner Tim Maurer.

If “low cost of living” conjures up visions of some bleak backwater, think again. MONEY combed its Best Places to Live database to find affordable cities and towns that offer lots to do, both inside and out. Places that are safe, with violent-crime rates below the national average. Where there’s good medical care close at hand. And where at least 30% of the population is over the age of 50, so you’ll have no shortage of golf or bridge partners.

The ten places you’ll read about in the story that follows offer all that — plus they’re exceptionally kind to your wallet. Their cost-of-living indexes range from 87 to 97, meaning that as little as 87 cents buys residents what a dollar would buy the average American. Homes are affordable, with median prices below the $173,100 national median (some well below). And tax rates are reasonable, with either no state income tax or significant exemptions for retirees. Could Cape Coral be your new home?

You can read the full story by following this link

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Comments (2) Sep 22 2011

Future convention center in Cape Coral

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If it is up to a small group of citizens, a convention center in Cape Coral could become a reality in the not so distant future.

I read an article online the other day and it was said that Councilman Chris Chulakes-Leetz spoke of working with a group of citizens to present a proposal to construct a convention center in Cape Coral. Last week the group unveiled its plan to a group of citizens and business leaders at City Hall.

The brainchild of Cape Coral resident, Martin Brady, the group announced the idea of the Cape Coral housing a 16,000 to 18,000 convention center and entertainment complex in the city, “Anything you can do outdoors and anything that can be done outdoors can be done at the complex we are imagining,” said Chulakes-Leetz.

The group says the area of land in North Cape Coral known as Academic Village would be the perfect spot for such a venue. Academic Village is located on 170 acres of city owned property at the corner of Del Prado Boulevard and Kismet Parkway. The area was in the spotlight in 2010 as the proposed location for the failed Swim Center.

Brady, a retired firefighter from Philadelphia, moved to Cape Coral in 2005 and began working for the city’s Parks and Recreation Department. During this time he realized the city was missing something in his opinion, “As I drove around I realized this city has a lot of parks. Everything here was planned around children and young adults. There was nothing for adults.”

It wasn’t until Brady and a few friends attended a boat show at the Harborside Convention Center in Fort Myers that he realized what Cape Coral truly needed, “We went to the boat show and had to park a mile and a half away from the venue and had to be shuttled in, making numerous stops on the way. Another thing I noticed was they basically closed all the streets in downtown Fort Myers for the show and upsetting many local business owners doing so. I thought North Cape Coral has a vast amount of land and would be a perfect location to host these types of events and conventions.”

During this same time, the city began discussions with a private company regarding the idea of building a Swim Center in North Cape Coral. Brady said he decided to wait and see what happened with the swim center before moving ahead with presenting his idea of a convention center. Once the swim center was defeated, Brady began putting together his plan for the convention center.

Brady says he has spent the last 1.5 years working on the plan and feels the convention center would be a major economic boom to the city, “Do you know how many industries and companies have events and conventions throughout the year? The American Medical Association, the Boy Scouts, big trucking companies, any type of industry that is out there, anybody that sells anything, where do they go? They go to conventions.”

Brady also stated that when people attend conventions, it is not just the conventions they attend, but many of the surrounding businesses as well. Brady says because of this it would cause the need for such businesses as hotels, restaurants and other service oriented businesses.

Something Cape Coral resident Mike Kumbier, who has worked the last 27 years in the RV industry as a manufacturer’s representative completely agrees with, “A convention center like this would add a lot to the Cape. It would bring industry back into the Cape and put people to work. Really, that is what we need to see happen.”

According to a recent study conducted by the Convention Industry Council, the meetings industry was responsible for $263 billion in spending in 2009. The study also related 1.7 million jobs in the United States to the meetings industry.

Brady along with Chulakes-Leetz says the center will not only house conventions and other events, but it could also serve as an emergency evacuation center during times of disaster. Brady says school gyms are not made for housing people after a storm and the convention center could store ready to eat meals, have a 3,000 gallon water tanker available, air conditioning, first aid, cots, and everything else needed for creating a well equipped evacuation center. Brady also says by creating the evacuation center grants from state and federal government agencies could help offset the cost of construction on the convention center.

The city currently owns the land the proposed convention center would be built. Chulakes-Leetz says in order to finance the construction of the center it would have to be financed by bonds and hopefully federal and state funding, “This would be the citizens investing in their own city.”

Chulakes-Leetz said the city would retain ownership of both the center and the land and would outsource the running of the center to private companies. The revenue generated from events, souvenir and food sales would go back to paying the bonds off and once those are paid money generated from the center would become a revenue stream for the city.

In order to make the convention center a reality, Chulakes-Leetz says it would have to be something the citizens of Cape Coral actually want. Chulakes-Leetz said he would like to see a referendum on the initiative before 2013. The councilman says he has been in touch with the Lee County Elections office and said it would be possible to do a mail referendum to get a vote on the initiative.

Those in attendance seemed cautiously optimistic about the reality of Cape Coral getting its own convention center, “I think it is a great start. I would love to see something like a convention center come to the city of Cape Coral. Who wouldn’t? There is a long road to go, though,” said Cape Coral Construction Industry Association Executive Director Heather Mazurkiewicz.

Brady says the next steps will be to put together the framework and further define the overall vision of the project, “This is the shot in the arm this city needs. This will make Cape Coral a destination for thousands each year.”

The group says it plans to meet again at the end of October and the meeting will be open to the general public.

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Comments (0) Aug 30 2011

The new VA hospital is attracting businesses

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The City of Cape Coral is unveiling an ambitious marketing strategy, aimed at attracting sustainable business towards the North Cape. The Economic Development Workplace is creating a “Veteran’s Investment Zone” to assist create a business complex around the new VA hospital.

The new VA Outpatient Clinic – currently under construction within the North Cape – is expected to attract hundreds of thousands of veterans. And developers are wanting at methods to profit from the VA’s enterprise.

“We have a important developer seeking at a piece of land to your west of your VA website for workplace and medical parks,” explained Christy Vogt, with the Cape Coral Financial Growth Office.

She says the city’s Financial Advancement Workplace sees the VA clinic as a major opportunity to market the north part of your Cape attractive to corporations.

The EDO has currently coined the area, the Veteran’s Investment Zone – or VIZ.

“We are seeing a great deal of activity there, inquiry from land owners and developers,” Vogt explained.

VIZ borders Diplomat Parkway, Littleton Road and NE 24th Avenue.

According on the Cape Coral Chamber of Commerce, the EDO has already received interest from one business searching to create a hotel near the property.

“There’s a good deal of interest into trying to take the crumbs that fall from the activity that occurs at the clinic,” mentioned Mike Quaintance, of the Cape Coral Chamber.

The Chamber has been providing interested developers with info on area demographics and accessible workforce.

And while it is too soon to tell if the VIZ will succeed, Quaintance says the plan has potential.

“It’s going to create some synergy to draw some organizations which are going to be complimentary on the VA Clinic,” he mentioned.

The EDO plans to hold a public forum in November.

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Comments (2) Sep 29 2010

Changes to the Cape Coral City Ordinance – Zoning and land use changes

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Recently, the City of Cape Coral has made some zoning and land use changes. What it means and how it affects us is a serious issue! If you list a property in one of the affected areas and the buyer is not informed, you will most likely get in trouble! 
Here it is in a nut shell……
A while back the City made some future land use changes. The zoning in those areas was changed. Properties that are now residential (single family or duplex) in the areas they changed to commercial, retail,  or mixed use allowing retail and offices are now “non Conforming.”  
Ordinance 39-10 allows already built structures that are now non conforming to be considered conforming for as long as the CURRENT OWNER is in place. If they sell, the property becomes non conforming.
They have put the burden of conveying that on the current owner to inform a buyer which we know most will not have a clue, or choose to ignore it so you will have to look up the location of the property on the Future Land Use Map and make sure it is not in one of those areas, and let the owner know if it is and they must disclose it in the listing information which will pretty much kill the chances of a sale. Also a lender will not approve a loan on a property that is in a area where the zoning has been changed and would no longer be conforming. The map can also be viewed on the City’s web site, but is so small you really can’t determine anything.

Here is the full ordinance from the Cape Coral city received by email.

On Monday, August 9, the City Council approved Ordinance 39-10.  Below is a brief summary from the City Attorney’s Office.

Ordinance 39-10 amends the Land Use and Development Regulations (LUDR) to allow single-family and duplex dwellings that would become non-conforming due to an amendment to the City’s Comprehensive Plan to be treated as a conforming structure. This would be for as long as the owner who owned the property when the amendment was adopted continues to own the property upon which the dwelling is located. However, when the amendment is the result of a request by the property owner, this will not apply.

This situation usually occurs when the City initiates either a small-scale or large-scale future land use map amendment.  The result is these dwellings, as well as accessory structures, may be repaired, altered, enlarged, or replaced, as if they are conforming structures.  Should the owner of the dwelling at the time of the Comprehensive Plan Amendment subsequently convey, or transfer, ownership to another, then this exception terminates and the dwelling shall be subject to the limitations within section 2.6.2.a, b, and c, of the LUDR’s.  Prior to any conveyance or transfer, the property owner shall notify, in writing, the person or entity to whom the property is being transferred of the change in status of the dwelling.  However, the failure to provide this notice will not affect the change in status of the property (to a non-conforming structure).

If you have any questions, please contact the City Attorney’s office at (239) 574-0408.

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Comments (0) Aug 18 2010

The Cape Coral’s strong seller’s market

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Last friday, I just got a new listing through the MLS here in Cape Coral.

It is a good looking house in the middle of the city. Priced right and even if the colors are a bit strong, the floor plan was acceptable. Since I’m looking for a home for myself, I passed by the same day alone and brought my wife for a second showing the next day, Saturday.

Cape Coral property for sale

Cape Coral property for sale

Today Monday, I just receive an answer back from my Sunday email about a question I had. The email was not an answer to my question but a solid: “This property is under contract” !

Even if I go through the MLS and react immediately, I still have a hard time to get a property for myself. It remind me the 2002-2005 golden years of Real Estate, when I listed a property, any property, and got a couple of offers the very same day.

Cape Coral, Ft Myers and Lehigh Acres area is, as I type this, in a strong sellers’ market, whatever the medias say…

So, don’t make the same mistake. If you see a property you like, put it under contract immediately, then, go see it and think about to purchase it if it is really for you. Keep that in mind!

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Comments (1) Dec 14 2009

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