cape coral real estate

Over the past couple of years we’ve been hearing more and more about Chinese Drywall in SW Florida. Our office focuses mostly in Cape Coral & Fort Myers real estate. There are many homes & communities that have been affected by Chinese Drywall. Most of these homes were built between the years of 2003-2008 but there have been some instances found dating back as early as 1998.

During those periods, our housing/building boom, drywall was imported into the United States that was manufactured in China & much of it contained potentially toxic materials.

If you are considering purchasing a home in our area that was built, or remodeled in those timeframes you will most definitely want to have a home inspection that includes a Chinese Drywall inspection.

How does an inspector look for Chinese Drywall? At the present time, the only sure way to confirm that the house has Chinese Drywall is to send a portion of the drywall off to a lab to be tested.

An inspector can look for signs of Chinese Drywall though. Some signs are:

Corroded Copper
in electrical wiring
in air handler

Silver
in faucets and other fixtures
jewelry
mirrors

Odor
similar to bad well water / sulfur / rotten-egg

What are some potential issues of Chinese Drywall?

Health
I’m not for sure if these have been confirmed but people have complained of respiratory problems, allergy-like symptoms, headaches and nervous system issues.

Electrical & Structural
again confirmation may, or may not, exist ~ I’ve heard of complete electrical panels being burnt out
the toxic fumes could penetrate into the concrete blocks or other components of the house ~ most typically into other wood items such as cabinets

What is the remediation process for Chinese Drywall?

Complete removal of all Chinese Drywall
Depending upon the severity of the spread this could include the blocks, cabinets, wiring, pipes or more

As I am not an expert on Chinese Drywall I have included links to other resources where you can continue your education if you so choose.

US Consumer Product Safety Commission: http://cpsc.gov/info/drywall/
Article on CNN: http://www.cnn.com/2009/US/03/18/chinese.drywall/
Article from WSJ: http://online.wsj.com/article/SB123171862994672097.html
Article from our local News-Press: http://www.news-press.com/apps/pbcs.dll/article?AID=2009909220331
Additional information & photos: http://www.chinesedrywall.com/gallery.html

At the present time we have buyers actually seeking out Chinese Drywall homes to purchase & other buyers steering clear of them. Armed with information you can make the decision that is best for you.

As always, we look forward to working with you. You can search Cape Coral real estate from our website 24/7 from the comfort of your home or office. When you are ready for more information simply let us know & we’ll get in touch quickly.

Make it a GREAT day!

Yours in Success,

Susan Milner
Broker of Florida Future Realty, Inc.
(239) 542-8521
www.SusanMilner.com

~ as with most things, the signs stated above could be signs of other conditions of the home and may or may not equate to Chinese Drywall. Make sure to hire a professional to make the correct determination.

Copyright 2009 Susan Milner ~ Florida Future Realty, Inc.

With unprecedented foreclosures and short sales in Lee County, the values definitely continued to decline. Sales went up over the year however.

I’d like to share with you statistics I pulled up today. From January – August residential sales (not including multi-family or land) in Lee County by the year.

2009: 13,505 *
2008: 7,252
2007: 5,414
2006: 8,052
2005: 10,896 *
2004: 9,351

* 2005 was our peak year for values & volumes prior to 2009 which clearly shows nearly 125% more sales than in 2005! I also calculated the median sales price to compare these 2 historical years. In 2005 the median sales price was $248,000. In 2009; just $85,000. While this fact is troublesome for some sellers it presents an amazing opportunity for buyers.

Is this a turning point for the SW Florida real estate market? It sure looks like it. The prices are lower than they’ve been in years creating a fantastic opportunity for buyers. There is also the $8,000 tax credit for first time home buyers through the end of November.

Sellers must be priced right and positioned well in the market. Properties priced well will move. Sellers who may be upside down in their mortgage have options as well. From loan modifications to short sales & beyond. Our office successfully closes several short sales each month.

It is going to be some time before the prices begin to go back up but with the amount of sales taking place at least we can see the light again.

If you have any questions about real estate please give us a call. We’re here and ready to assist.

Florida Future Realty, Inc is a full service brokerage servicing all areas of SW Florida – buyers & sellers alike.

We look forward to hearing from you!

Yours in Success,

Florida Future Realty, Inc.
Inquiry@FloridaFutureAgents.com
(239) 542-8521

Cape Coral real estate – foreclosures selling with multiple offers.

 

Cape Coral foreclosures can be a great opportunity to purchase a great deal. But as this news story confirms, these homes are often times selling quickly & with multiple offers for buyers to compete with.

Make sure you have your pre-approval letter or proof of funds letter ready. Make sure you are working with an agent who understands the market and can help you determine the value of the house so your offer wins!

At Florida Future Realty, Inc. we have agents trained to assist you with your home purchase.

We look forward to working with you.

Yours in Success,

Florida Future Realty, Inc.

www.Florida-Future-Realty.com

(239) 542-8521

I ask because today I received several phone calls & emails from Fort Myers & Cape Coral homeowners asking for help. For whatever reasons their house, condo or investment property didn’t sell. I checked in our MLS and in the last week 1,198 residential homes in our local MLS (multiple listing service) EXPIRED!

I spoke to one gentleman today who is going to need a short sale on his Ft. Myers house. After we ended our phone conversation I looked up his property. It just expired on Dec 31, 2008. It had been listed with another agent & real estate brokerage office.

This is a lovely home in a gated community. The agent only had 2 photos of the Ft. Myers property. They used the photos from our property appraiser’s website. This consists of one front photo (with a truck in the driveway & garage door opened) and an aerial photo showing the roof. Are you kidding me? And the agent probably said they don’t know why it didn’t sell. Well I do! To top that off there were about 2 lines of description in the MLS. Basically, “Look, here is a Ft. Myers house for sale, you wanna buy it?”.  I’m guessing that this property can NOT be found on any real estate search websites either. It is truly sad. The seller should have known about this. The listing agent should have known better.

Why didn’t they try everything to sell your property? Did they think they’d get the buyer themselves & didn’t want to ‘share’ their commission? Did they just not know any better? OR Were they just lazy?

The good news for this seller is that he found us. We specialize in getting properties sold. I don’t take listings just to increase my inventory. I take listings to SELL them.  We help traditional sellers compete with the bank owned and short sale listings. Your house must STAND OUT.

We also handle bank owned and short sale listings in Cape Coral and Ft. Myers. Sometimes short sales take a little longer to sell but we still market them just as well as any other listing! We use multiple photos, a great description, video, etc! How could you not? And how could you not expect your agent to at least take multiple photos? Some real estate websites even allow up to 20-30 photos per listing. Think of the possibilities. Most MLSs allow for at least 10 photos. We make use of those available spots.

BUYERS WANT TO SEE PHOTOS – AND LOTS OF THEM. Buyers often even ask me to exclude any listings that do not have multiple photos. There are just too many ‘unknowns’ for them to deal with. Over 90% of buyers begin their search for a new home online. This means that YOUR LISTING must look appealing to them. The internet may not ‘sell’ your house but it will get it on their ‘list’ of prospective properties to view. 

Finally, if you have not checked to see how your listing appears in the local MLS or on national & international websites PLEASE go check. If your agent is not doing their best to show your house in the best light then let them know. Give them the opportunity to FIX it or hire a new real estate agent.

And most importantly, if you have property that you need to sell in Cape Coral or Ft. Myers, Florida please give me a call. I’ll give you the ‘real deal’ on value & market your property to its full potential.

Your time is valuable and selling your house is important to you. It shouldn’t be something you have to stress about after you hire a real estate professional! That’s OUR responsibility!

What do they say about employers? They should HIRE SLOW & FIRE FAST….so should YOU. Do your research! Ask Questions!

I’ll see you on the SOLD side J

Happy New Year!

Yours in Success,

Susan Milner

Broker/Owner

Florida Future Realty, Inc.

Call my cell: 239-218-2229

Or office: 239-542-8521

Email: Susan@CapeCoralSusan.com

Search Cape Coral Real Estate

Short Sales and How I Think They Should Be Handled

First of all I do not believe that any real estate agent should list a home as a short sale without having done some research first.

Research

You should have a preliminary title search done to determine if there is a second mortgage or any other liens on the property. Determine who the owner(s) are.

Document Collection

Next, you should collect all of the necessary paperwork that the lender will require for their short sale package. (Some banks require less/more documentation but this is a very ’standard’ list)

Obviously the following that you’d normally complete:

• CMA – YES, you need to know the market value of the property!
• Listing Agreement
• Short Sale Addendum (if your board doesn’t have one yet you should get an attorney to create one for you)
• Seller’s Real Property Disclosure (Yes, even AS IS deals)
• HOA documents/ HOA/Condo disclosures as necessary
• Lead Based Paint Disclosure as necessary (pre 1978)

• Last 2 year’s tax returns
• Last 2 month’s bank statements
• Last 2 pay check stubs
• Letter of Authorization
• Financial Statement
• Hardship Letter

(if customer is missing a tax return or pay check stub have them write an explanation as to WHY (i.e. No paycheck stubs because they are 1099 contractor)

*for your info: Copy of mortgage statements

• If there are 2 lenders you will need these documents for each.

Listing Activities at property

• Take multiple photos of the property – the good and the bad. Obviously use the prettiest photos for your marketing material but disclose any known defects. The bad photos are good to show the seller’s lender.

• Put an electronic lockbox on the front door or hidden if seller/tenant prefers. Agents that have to pick up a key or schedule to meet an owner/tenant/agent are WAY less likely to show that home. Especially in this current buyer’s market. There are too many other choices available. Check out my previous blog about tenant occupied short sales.

• Install your sign.

Back at office

• Call bank(s). Ask them where to send the authorization to release and what their short sale process is. They’ll either tell you over the phone or send you some additional package of information. Also make sure to verify where/to whom you will send the package once you do have an offer (ALWAYS goes to some different #/Dept)

• Enter property into MLS. Use multiple photos. Use a full description. Make the showing instructions easy to find and follow.

• Enter property onto the best internet sites. We typically start with point2agent and Realtor then add as necessary. Our listings are enhanced on Realtor so we can add more photos and a better description. Point2Agent is a great website to use to get your listings onto several other real estate websites.

• Add the property on your blog. Make it interesting. Use lots of photos. Talk about the emotional benefits.

Yay, Showings and Offers!

You get showings, and now an offer comes in. GREAT! How do I think offers on short sales should be handled? Like any other sale.

            Present all in a timely manner. Encourage your seller to make a decision asap. If they like the offer, have them sign the contract. We require all contracts to be on the Far/Bar As-Is contract along with the Short Sale Addendum. We also require a bank letter of funds available or a pre-approval letter and a copy of the buyer’s escrow check.

            What’s next? First of all, stop taking other offers! After the buyer and seller have agreed the property is now for all intents and purposes PENDING. Yes, there is a third party approval required but that DOES NOT mean that you do not have a CONTRACT. You do. I’m sorry to go off a little here but this one of my pet peeves. We have buyers write up all of the time to hear weird things like the following:

            1) Our seller isn’t going to sign – it’s up to the bank

            2) The seller has already accepted 4 other offers, they’re waiting on the bank to respond

            3) They accepted another offer last week

            ETC.

My response to each:

1) Then we don’t have a deal. I will continue to look for homes for my buyer. This obviously makes no sense. The contract is between the buyer and the seller – the bank is a third party approver only. Most banks won’t even look at a file unless all documents are correct and signed/dated and still within timeframes.

            2) Why would you obligate your seller to sell his/her property 4 times? Again, I’m going to find my customer something else. This is a waste of time. I get what the agent is trying to do. For lack of better terms, ‘have their cake and eat it too’. If one buyer gets tired of waiting, they’ll have possibly 3 more in line. I get that but it is not done correctly. You can have one offer you are working on and 3 back up offers but not 4 contracts on the same house. That’s utterly ridiculous.

            3) Really, then WHY is it not marked pending or active contingent short sale (that’s our MLS’s new rules for short sales that have been agreed on (under contract) but are waiting on bank approval)?

Listing agents: If you want to play the multiple offer game that is fine. I realize you want your seller to go with the most likely offer to get accepted and be able to close. That’s a no-brainer. But you have to disclosure what you are doing. Like many bank owned listings, they’ll say “We will be accepting offers for 5 days before we’ll get an answer from the bank. At that point the bank will most likely ask for everyone’s ‘highest and best offer’.” My response: GREAT, here’s my buyers offer. It expires in 6 days. At least they know what they are doing. That makes sense!

Submit That Offer

            Ok, now back to the seller’s bank. You should have already spoken to the bank(s) to know exactly what to send and to where. Create a nice coversheet detailing the borrowers (that’s your seller) Property Address, Name and Loan #. Include page #s like a table of contents. Include the contact for the BPO/Appraisal. Include a preliminary Hud1 (get from your title company), updated financial if out-dated, comparables and property history of the property. Send this and call the following day to verify. (Some banks say it takes up to 72 hours to receive so you may have to call back again) DO NOT STOP CALLING UNTIL YOU HAVE VERIFIED THAT THEY HAVE RECEIVED THE PACKAGE AND THAT THEY HAVE EVERYTHING THEY NEED. Most of the time if you are NICE they will look through the package while you are on the phone and let you know. Also find out who the negotiator is and when the bpo/appraisal will be ordered. Get the negotiators Full Name, #, Extension and Email address if at all possible.

Follow up

            From today on, call at LEAST once a week. Some banks may have an answer within a week; others may not for 2-3 months. All banks work differently. Always ask them what their timeline is. Do not leave multiple messages in the same day. You will irritate the negotiator. They are very busy people. Most have 100-300 files on their desk. Make sure you acknowledge that and make their job easier by having everything ready for them. If they prefer email, shoot them over a quick email for an update. They appreciate the non-intrusiveness of email.

            Also each week, call your seller to let them know what the bank said. Call the buyer’s agent to tell them what is going on. Tell them to call their buyers to advise. Call the title company to keep them in the loop. Communication is key. If you keep everyone in the loop your chances of a successful closing go WAY up!

Approval

            Now you have an approval. Make sure the closing date will work for everyone. Send the approval over to the buyer’s agent and the title company. The buyer may need to get financing so make sure they have enough time for that. They’ll also want to have an inspection completed. Make sure to have the electricity and water turned on for that. If your seller cannot afford to have it turned on then turn it on for them! You took the listing knowing the financial situation of the seller. Don’t stop helping them out now.

            You know the rest of this, now it is just like any other transaction.

Close on the property

The sellers have now SOLD their house. The buyers have now BOUGHT the house they wanted at a good price. Everyone wins.

Conclusion

Good luck out there.

Buyers, don’t be intimidated by short sales. Just make sure you have an agent working for you that understands the process. They’ll be able to inform you right away if something doesn’t add up or seem right.

Sellers, please do not make the mistake of listing your home as a short sale with just any agent. Make sure they fully understand the short sale process. This is a very important transaction in your life and not everyone is cut out to handle this for you.

We look forward to working with the other professional real estate agencies on short sales and the many buyers and sellers as well.

 © Susan Milner 2008

Yours in Success,

Susan Milner

Florida Future Realty, Inc.

www.Florida-Future-Realty.com

www.The-Extreme-Team.com

888-764-6665 toll free

239-542-8521 local

Susan@SusanMilner.com

Cape Coral, FL   Cape Coral buyers, Paul & Sharon came to visit me last week. They are looking for a nice home in Cape Coral, Florida. What they wanted was a slight stretch but we were able to find a few homes to go check out. Their hopes: SW Cape Coral / inground pool / city water & sewer / good condition / price under $100,000.

I love a good challenge so we scoured the MLS (multiple listing service) and eliminated many on looks alone. We were left with 2 decent possibilities. As we go to head out the front door of Florida Future Realty, Inc., in walks Stephanie from ABC 7 News. She has interviewed me previously for another story. She is doing a story about the foreclosures in Cape Coral and the city’s plan to help clean up the situation. She is looking for some sort of list of addresses of foreclosures. Since we were on the way out I didn’t have the time to print out a list for her but I invited her to follow along. She agrees, Paul & Sharon agree and off we go. I can send you that list each week if you’d like: Cape Coral Foreclosure \ Cape Coral Short Sale List

The first house we look at is only $94,500. It is in OK shape but it needs more cosmetic work than my customers are looking to do. The next one we look at is GREAT though. After the news team leaves we spend quite some time really looking at the house. They are very interested in this. And it is only $104,500.  I tell them it is a good price and that they may already have an offer. They want to think about this and after they leave I call and talk with the listing agent. He advises that there is another offer but encourages us to submit a back up. That evening I meet with Paul and he signs an offer. I present it later that night. No word. The next day we hear that the other (original) offer is looking pretty good. My customers will still keep their offer on the table as a ‘back up’.

A bit discouraged now, my customers, Paul & Sharon ask that I keep searching. I find a few others but nothing as nice as this last one.

They headed back home with nothing under contract But I’m still keeping my eyes peeled for a house that will fit their wishes. I’m sure we’ll find something else good. It might just take a tad longer.

Fun news: We were all on the news that evening that we looked at those 2 homes.

(This photo was taken in the uglier home for $94,500)

Nothing big but here it is:

ABC7 Appearance

Lessons learned:

1) There are some amazing real estate investment opportunities in Cape Coral, Florida

2) Being on the news is fun – even though my customers weren’t 100% up to it (you were both GREAT sports)

3) Properties that are priced right are moving quickly!

If you’d like to search for homes in Cape Coral, Florida please let us know. Myself and my team of licensed real estate agents look forward to working with you to find the best deal for you. Everyone is looking for something different. There are houses priced from $50,000 to 2,000,000 in Cape Coral so there is one suited for you & your needs.

See homes in Cape Coral by price range or search thousands of cape coral real estate listings! Anytime 24 hours a day from the comfort of your own home. When you are ready to see them in person let me know!

I look forward to working with you!

Yours in Success,

Susan Milner

Florida Future Realty, Inc.

239-542-8521

susan@susanmilner.com

As a Cape Coral real estate brokerage, we are often asked about the costs and availability of homeowners insurance in the SW Florida area.

Many believe that the costs are very high and others wonder if it is even available.

While many insurance providers have stopped writing in Florida after the busy Hurricane Season of years past, many more have opened up in Florida.

Many insurance companies have been around for many years while others are new to Florida.

There is an excellent website to give you an ideea of insurance costs.

http://www.shopandcomparerates.com/HOCompareRates.htm

You can click on ‘lee county’ for a list of companies and a quote from each.

Next, you’ll need to know about flood insurance. In my opinion, I think flood insurance is a good idea in Cape Coral, regardless of your location. If a big storm hit us directly we’d all be under water. But FEMA has a new map out with the different floodzones for you to review:

http://msc.fema.gov/webapp/wcs/stores/servlet/FemaWelcomeView?storeId=10001&catalogId=10001&langId=-1

Here’s a link to a map of SE Cape Coral:

http://map1.msc.fema.gov/idms/IntraView.cgi?KEY=1584830&IFIT=1

Floodsmart has a great article with questions to ask your real estate agent:

http://www.floodsmart.gov/floodsmart/pages/flood_policies/ask_your_real_estate_agent.jsp

Feel free to contact a licensed real estate agent with Florida Future Realty, Inc. for local insurance contacts or for any real estate related questions you may have.

We have great home buys available here in Lee County, Florida.

Susan Milner

Florida Future Realty, Inc.

(239) 542-8521

Search Cape Coral & other area listings: www.Florida-Future-Realty.com

Susan@SusanMilner.com

Tenants Renting Pre-Foreclosures FOR SALE

Yours in Success,

Susan Milner

Florida Future Realty, Inc.

www.Florida-Future-Realty.com

www.The-Extreme-Team.com

888-764-6665 toll free

239-542-8521 local

Susan@SusanMilner.com

The recent blog I wrote about Countrywide short sales sure caused a lot of comments, emails and phone calls.

Not to worry, I have a solution.

Read the full article about Countrywide Short Sales and the WHY behind this post.

Here’s what I propose the banks do to collect the most money back on these bad loans:

1)    Have an intake department with a checklist of items needed in package

(timeframe: same day of receipt)

a.     Reject all that are missing items – send letter of explanation

b.     Forward on all complete packages to analysis team

2)    Analysis Team – reviews package

(timeframe: 2 days of review)

a.     Verifies hardship

b.     Verifies value

c.      If good – forward to closing negotiator

d.     If doesn’t work – send letter of why/reject

3)    Closing Negotiator – closes file

(timeframe: 2 days of review)

a.     Reviews file

b.     Send approval

Ok, maybe I’m in dreamland but I think this would work. Banks would send approvals within a week. Sell off bad loans within 30 days. Our real estate market would improve as the inventory is sold.

Sound simple? Remember KISS? Yep, that’s right! 

I’m sure there are thousands of incomplete, bogus-offers files sitting somewhere at every bank. If they would just reject those upon receipt it would give their staff time to work on files that actually make sense.

By the way, we will still handle Countrywide short sales. Just keep in mind that they might take longer than the others – at least until Countrywide fixes up their process.

Any loss mitigators out there? I’d love to hear your comments! 

Read the full article about Countrywide Short Sales and the WHY behind this post.

As always, if you are considering buying or selling in the Cape Coral and Ft. Myers area, we’d love to assist you. Buyers, search thousands of homes for sale on our website. Sellers, if you need help with a short sale let us know. We’re here to help.

Yours in Success,

Florida Future Realty, Inc.

www.Florida-Future-Realty.com

(239) 542-8521

Susan@SusanMilner.com

copyright 2008 Susan Milner | Florida Future Realty, Inc.

Disclaimer: For those of you who are not familiar with short sales; this is NOT the way banks are handling short sales. This is how I propose they handle them. Currently many negotiations are taking 30-120 days to facilitate. Following the above advice would DRAMATICALLY reduce this time!

Read my story about why:

Countrywide short sales – a story

Enjoy…..WHY/HOW are they still in business? Oh yeah, thanks to Bank of America…ya, go B of A!

copyright 2008 Susan Milner

Florida Future Realty, Inc.

Cape Coral Short Sales

Property Case Address Price Bed/Bath List Date Bid Deadline Priority 092-783639 634 SE 10TH PL CAPE CORAL, FL 33990 $112,100 4/3 10/10/08 10/19/08 Owner Occupant (Investors bid on 2008-10-20) View Map   View Property Details

Property Case Address Price Bed/Bath List Date Bid Deadline Priority 092-917577 1126 SW 1ST TER CAPE CORAL, FL 33991 $109,250 3/2 10/10/08 10/19/08 Owner Occupant (Investors bid on 2008-10-20) View Map   View Property Details

Property Case Address Price Bed/Bath List Date Bid Deadline Priority 092-879609 120 NE 24TH AVE CAPE CORAL, FL 33909 $105,000 Price Reduced 3/ 2 10/10/08 10/14/08 Owner Occupant (Investors bid on 2008-10-15) View Map   View Property Details

Property Case Address Price Bed/Bath List Date Bid Deadline Priority 092-907790 501 NW JUANITA CT CAPE CORAL, FL 33993 $75,000 Price Reduced 3/ 2 09/12/08 Daily All Bidders View Map   View Property Details

  Property information from NHMS (buyers must submit bids through a registered real estate agent).

Are you looking for a HUD home in Cape Coral, Florida? Florida Future Realty, Inc. is a licensed real estate brokerage registered with HUD. Our agents can show you HUD homes for sale.

Our agents also have access to all the other great listings for sale, including HUD homes, foreclosed homes, bank owned homes, reos, corporate owned properties, short sales and real estate for sale by motivated sellers.

Cape Coral short sales

Fort Myers short sales

Lehigh Acres short sales

E Ft. Myers short sales

N. Ft. Myers short sales

Estero short sales

You can search for all of the properties available in Lee County right online from the comfort of wherever you have internet access. Our website contains a user friendly real estate search engine and is 100% free to use. Go ahead, check it out: Lee County Real Estate Compare properties, see photos, get notified of new listings that match your criteria, save your favorites, schedule showings and more!

We look forward to hearing from you!

Yours in Success,

Susan Milner

Florida Future Realty, Inc.

 239-542-8521                   

Copyright 2008

Buyers, give us a call to see what I mean.  239-218-2229   – my personal cell phone!
Last week I had customers from Germany enter into a contract on a beautifully appointed S. Ft. Myers condo near the beach at half of the pice of 2004/2005. Great condition from the seller (not a short sale). They’ll soon be enjoying those grey winters from Germany in their new coach home in sunny SW Florida They are thrilled!

I have an investor about to go under contract for a 3/2/2 CBS home in Cape Coral for $60,000. Yes, you read that correctly, $60,000. Bank Owned. It needs some repairs but he’s handy.

I just sold a gulf access short sale in Cape Coral that needed to be finished (about 95% complete) ~ beautiful 4/2 with granite counters, stainless steel appliances, brick pavers, high ceilings and doorways, large tiles, inground pool, etc ~ Only $285,000! (The seller owed just under $600,000)

~ Watch the video below ~

We look forward to hearing from you. You can search for homes all over Lee County on our website: Cape Coral Real Estate

Yours in Success,
Susan Milner
Florida Future Realty, Inc.
www.Florida-Future-Realty.com
239-542-8521
susan@susanmilner.com

So, you are expecting? Expecting to buy a short sale? Short sales are handled much differently from traditional sales. Here we will go over the differences to help you through the process.

The first thing to consider: Your time frame for purchase

Do you have enough time to wait for an answer? Short sales can take 30-60 days to receive an answer. We’ve heard horror stories of it taking 5-6 months in some cases as well. This could have been due to a number of factors that we cannot thoroughly cover here.

The next thing to consider: Choosing a Real Estate Agent

Have you found a real estate agent who has the knowledge to guide you through the short sale process? Ask them questions like “have you helped a buyer purchase a short sale before?” if so, ‘how did the process go?” Then ask, “Have you ever negotiated a short sale for a seller before?” and if so, “how did that process go?”

Watch for the agents’ opinion of short sales. If an agent has had a bad experience with a short sale you’ll be able to pick up on that. If they feel like they are a waste of time you’ll notice that too. Then you need to find someone who understands the process and can help you through it.

Next thing you’ll do: View the homes

Next your agent will schedule appointments to show you the short sales you are interested in. While you are viewing these properties, take note of the condition of the property. How long ago did the seller stop maintaining the property or is it still being maintained? If there are tenants living there – when does their lease expire? Are they willing to stay or do they plan to leave? Are they keeping the house or property neat? Or are they destroying it?

Ready to Submit an Offer: Make sure it is written up correctly

Your agent should of course called the listing agent to determine the status of the short sale. Does the seller plan to accept 1 offer or many? Have any offers already been submitted?  If so, what was the outcome? Was there a previous bank approval? What were those terms? Does the seller plan to sign an offer and then take the property off of the market or do they intend to keep it available for sale?

Your offer will consist of the following:

Far/Bar As-Is Contract: This is an approved as-is contract. It does not require for the seller to be responsible for any repairs. It does give the buyer the right to inspect.

Short Sale Addendum: This form spells out the timeframes. You can give any number of days for the seller to obtain bank approval. You can make the offer’s effective date good from the time of acceptance by the seller or from the time of receipt of written approval from the bank. We advise the latter as to not lose money with inspections without knowing the outcome of your offer.

Approval letter  if financing: This is a letter from your lender approving your financing. 

Or 

Proof of Funds if paying with cash: This can be a letter from your bank stating “Mrs. Buyer has adequate funds available to close on said property for $this much money” or it can be a copy of a bank statement.

Earnest Deposit: Typically at least $1,000.  The seller’s lender will want proof of this so go ahead and have it ready. It shouldn’t matter who is holding the escrow but if the seller is already working with a specific local title company it is best to have it placed there.

Seller Acceptance:

Seller acceptance shouldn’t take more than a day or two in most cases. Remember though, the seller is only agreeing to sell the property if their lender agrees to a short sale. It is critical that you have a contract signed with the seller. Otherwise there is no deal.

Then you: WAIT for seller’s lender’s approval

Determine how often you’ll get updates. Do you want to know what is going on every week? Only when there is progress? Do you want to be called? Emailed? Communication is key. You and your agent should have a plan.

GREAT NEWS: Approval

Now your effective date starts. This means that your inspection period starts, your loan approval period starts. Make sure you work diligently on your financing because asking for an extension can be a real headache.

At Closing: One extra form

Most banks are now requiring the buyer to sign an affidavit of arms length transaction. This ensures that nothing funny is going on. (like you are buying mom’s house). Some banks are even doing background checks on buyers to verify this as well. Otherwise your closing will be handled like any other real estate closing.

There you have it, What to Expect When you are Expecting – To Buy a short sale.

Keep in mind that this is not a full list of what could happen but it is a generalization to help you with the process. If you are considering a short sale purchase in Lee County please contact our team for help. We have the experience to advise you when a short sale can work and how to handle the transaction – start to finish.

We look forward to your successful purchase.

Search Short Sale (and other) listings:

Cape Coral short sales

Fort Myers short sales

Lehigh Acres short sales

E Ft. Myers short sales

N. Ft. Myers short sales

Estero short sales

You can search for all of the properties available in Lee County right online from the comfort of wherever you have internet access. Our website contains a user friendly real estate search engine and is 100% free to use. Go ahead, check it out: Lee County Real Estate Compare properties, see photos, get notified of new listings that match your criteria, save your favorites, schedule showings and more!

We look forward to hearing from you!

Yours in Success,

Susan Milner

Florida Future Realty, Inc.

 239-542-8521                   

Copyright 2008

People who want to invest their money in real estate. They do not feel that their money is safe in their banks. Safe, maybe? But what about the value?

Just like when those from foreign countries buy because of the exchange rate; the exchange rate from liquid cash to real, tangible real estate is excellent.

Maybe your money is ‘safe’ at the bank. I mean it is insured up to $250,000 at each bank. But what happens when your bank closes its door or when there is a rush from everyone wanting their money? There may be a wait or there may not be any left.

This blog is not intended to instill fear or panic. It is just an observation.

Lately I’ve had more buyers calling, emailing and stopping by looking for a place to invest their hard earned cash.

I love real estate. I still think it is one of the best investment vehicles. Especially for long term growth and stability. You know it is there, it is insurable, it is saleable, it is rentable, it is a tax write off – it appreciates and it is a necessity.

If you are considering real estate I can help you find some great investments. From vacant land, to single family homes to multi families, everything is on sale! Why not own in Paradise? SW Florida is truly like living in paradise every day!

Search properties for sale in Lee County, FL right from my website.

I look forward to hearing from you soon!

Yours in Success,

Susan Milner

www.Florida-Future-Realty.com

239-218-2229

- Out of the country? You can skype me for free

FloridaFutureRealty on Skype

Please, don’t try this at home! If you are having problems with your mortgage try your other options first. Your LIFE is so much more important than a mortgage.

• Talk to your lender – they may help

• Talk to Hope NOW

• Call your mortgage professional – there may be options

• Call your attorney

• Call your Realtor – they might be able to sell it. Regular or if needed via a short sale

We work with home owners in SW Florida or owners of properties in SW Florida negotiate short sales. In most cases, it cost you nothing if the bank agrees to the short sale.

We handle all of the paperwork and negotiations.

If you are interested in learning more, feel free to call me at 239-218-2229.

Yours in Success,

Susan Milner

Florida Future Realty, Inc.

www.Florida-Future-Realty.com

www.the-extreme-team.com

copyright 2008 Susan Milner of Florida Future Realty, Inc.

(by the way, they are forgiving her mortgage and letting her keep the house – I hope she makes a full recovery and can enjoy her home for her final years of life)

Are you looking for an investment property? Second home? Retirement property? SW Florida was hit hard with the decline as we experienced such a high in the boom.

You can now purchase great homes in Cape Coral under $75,000! You can purchase gulf access vacant land under $75,000!

You can buy a gulf access condo under $150,000 in Cape Coral. You can buy a Cape Coral gulf access single family house under $200,000.

Looking at a smaller investment? You can buy an off water vacant lot in Cape Coral under $15,000!

These are just some opportunities that are available.

Real estate is safe. So long as you pay your taxes your investment is very secure.

If you’d like to chat about the possibilities of investing in real estate in SW Florida: Cape Coral, Ft. Myers and Lehigh Acres feel free to call me.

I can be reached at                239-218-2229         or via email at Susan@SusanMilner.com

You can also search for real estate: Lee county real estate for sale

I look forward to working with you!

Yours in Success,

Susan Milner

Florida Future Realty, Inc.

Your Future In Florida Awaits!

Copyright 2008 Florida Future Realty, Inc. Susan Milner

Cape Coral Real Estate

Yours in Success,

Susan Milner

Florida Future Realty, Inc.

(239) 542-8521

Cape Coral Real Estate

Email Susan

Copyright 2008 Susan Milner

Many of these homes need repairs – from minor to major but for these prices – WOW!

Check out the current available properties:

Cape Coral Gulf Access Properties under $200,000

Florida Future Realty, Inc.

(239) 542-8521

Susan@SusanMilner.com

Copyright 2008 Florida Future Realty, Inc.

Your Future in Florida Awaits!

Honestly, I cannot think of a single place to live that there won’t be something weatherwise to concern yourself with. Basically it comes down to picking the ones that least annoy you, or maybe are least likely to kill you.

Here are some I can think of:

Hurricanes

Tornadoes

Mudslides

Blizzards

Fires

Floods

Heat

Wind

Earthquakes

I found an article put on USA Today that goes into more detail about these things.

They also have a cool interactive map to show you where these natural disasters occur.

So, what natural disasters do you have to explain in your area?

Oh, I almost forget Florida is also the lightning Capital of the World

But I can’t see myself living anywhere else!

Yours in Success,

Susan Milner

Florida Future Realty, Inc.

Search Cape Coral & other area listings: Cape Coral Real Estate

Susan@SusanMilner.com

COPYRIGHT 2008 Susan Milner of Florida Future Realty, Inc.

Ok to reblog in full – not ok to copy in whole or in part

Yep, that’s correct.

I read so much negativity on here. Agents are concerned about sticking it out in the business or moving on to something else.

Other professions are questioning if anyone else is making any money.

Agents are complaining about their competition stating facts.

Some complain about the Foreclosures and Short Sales.

Agents complain about the ‘dumb’ agent or ‘annoying’ customer

Those posts get ‘featured’.

Why can’t we feature something that reminds us to:

Make it a GREAT Day!!!!!

Thats my hope for EVERYONE.

Wake up tomorrow and Make it a GREAT day!

We are here experiencing this life for a reason. It is to ENJOY life!

Sure we all have to make a living but most important before that is BEING HAPPY!

So whatever it is that makes you happy – DO IT!

So let’s look to the positive side of life and focus on what we DO want and stop focusing on what we don’t want!

This has been a public service announcement from Florida Future Realty, Inc.

Copyright 2008 www.Florida-Future-Realty.com

Feel free to reblog but not copy/paste!

Are you interested in Cape Coral short sales? Want to hear the truth about them?

Do you and/or your agent understand them?

One thing that I think is VERY important is to note the source of the information you find.

How many short sales has this agent been involved with? How many have actually CLOSED?

Getting bad advice is possible so you need to understand where this information is coming from.

Would you take advice about building wealth from someone currently in poverty? No, of course not. Then why would you take advice on short sales from someone who has never closed on one?

As of today, 626 residential short sales have closed in Lee County since January 1, 2008. The average days on market was 145. That is from list date to sale date.

I pulled out a ranking report ~ by agent ~ by sold counts as listing agent ~ sorted by # of closed listings.

I rank #5. Susan Milner of Florida Future Realty: #5 in residential short sales closed out of our entire MLS for this time period of Jan 1, 2008-Aug 28, 2008. 2 of the agents listed above me are brokers and take credit for every sale in their entire office. I am also the broker at Florida Future Realty but I do not take credit for my agents’ listings. The rankings were all my listings. A couple of them were referred by agents in my office but I was the listing agent.

So, being ranked #5 out of a total of over 5,000 agents in our local board of REALTORS I consider myself a good source of information on short sales.

Do I claim to know everything about short sales? No, of course not. But I would be a better source of information than someone who has never handled a short sale through to the end.

Everyone’s situation is unique to them and a seller should seek the counsel of an experienced attorney and/or tax accountant to make sure that a short sale is their best option.

Often times these agents and/or you, their customer, do not have all of the information or knowledge to make an informed decision about short sales.  Before you make a decision do your homework.

If you have a question about selling your house as a short sale or a question regarding purchasing a short sale, please give our office a call. We are here to assist you with your real estate needs. Having the added experience with these short sales gives us an advantage in assisting our customers with their short sale buying or selling needs.

We also handle bank owned properties. Often times these homes are priced so well that buyers are experiencing multiple offer situations and the properties typically sell for higher than list price in these cases.

We price our short sales correct with the market. This provides a much higher likelihood of the short sale being approved and it provides for an easier process for all involved.

Want to see our current short sales?

Cape Coral short sales

Fort Myers short sales

Lehigh Acres short sales

E Ft. Myers short sales

N. Ft. Myers short sales

Estero short sales

You can search for all of the properties available in Lee County right online from the comfort of wherever you have internet access. Our website contains a user friendly real estate search engine and is 100% free to use. Go ahead, check it out: Lee County Real Estate Compare properties, see photos, get notified of new listings that match your criteria, save your favorites, schedule showings and more!

We look forward to hearing from you!

Yours in Success,

Susan Milner

Florida Future Realty, Inc.

  239-542-8521          

Copyright 2008

Well I just read a blog from another active rain blogger who wrote a post about how some children should not come with parents to look at homes as they are a distraction and oftentimes a safety hazard or possible liability (break something).

While I totally agree that children should be watched by their parents I also do not see the issue with the real estate agent assisting in the entertaining of the child(ren). On many occasions I have had children in my car, or their parent’s car along with showings.

While I will draw the line at changing diapers (yes, seriously nearly asked once); I have no issue to keeping little Sally or Tommy involved and out of trouble.  I have allowed kids to color while in my car, listen to their favorite music, stop for snacks/potty breaks, open lockboxes, etc.

Of course I can still answer any questions my buyers my have. Usually buyers can look through a house themselves. I’ve already told them the high points of the house.  Obviously you keep an eye on the buyers too – they shouldn’t be wandering alone either in some cases just in case.

They shouldn’t have to be bothered with hiring a babysitter. They shouldn’t exclude their children in the process, in my opinion. And if they do decide to exclude their children in their home buying process then I believe that that is THEIR decision and NOT their real estate agents.

Moving is a family event in my eyes. Involving them will make the entire transition smoother for all involved.

While I definitely believe that there are extreme cases of bad parents and possible bad kids, I think that overall having the entire family along for the trip is a good idea.

Besides, if you are in line with your ideal client/customer then I’m sure you’ll enjoy their whole family.

If you are attracting customers who have rotten kids or customers who don’t involve their children at all then maybe that isn’t the right customer to attract. On the contrary, if you truly hate children then don’t send out the thoughts to attract families. Focus on YOUR ideal client.

In conclusion, I was truly amazed at the number of real estate agents who commented on the other blog about their ‘awful’ experience with children on showings and just the general distaste of children in general.

I just can’t imagine the person who cannot see the good in children. But that’s a personal choice I suppose. Just be clearer on the type of customer that makes a good customer for you and the ‘wrong’ customers just won’t be attracted to you.

Yours in Success,

Susan Milner

P.S. All of our SW Florida real estate agents are happy to assist you and your entire family, or lack thereof, in your home search.

Search Cape Coral Real Estate now.

Copyright 2008

Florida Future Realty, Inc.

In fact, some of the worst weather we experienced here was from an initial storm band that came through on Sunday evening. I posted a brief video of it: Tropical Storm Fay in Cape Coral. 

Lee County schools are scheduled to reopen tomorrow, Wednesday, August 20, 2008 as usual.

Many businesses are now posting that they are opened as well. We will be opened as normal, tomorrow, August 20, 2008 at Florida Future Realty, Inc.

Those in central Florida and along the Eastern coast should still be using caution and remain prepared. Tornadoes and flooding are very likely.

As always, should you, or anyone you know have a real estate question, contact us at Florida Future Realty, Inc.

Search for Cape Coral real estate anytime online at our very user-friendly website.

We look forward to hearing from you.

Yours in Success,

Susan Milner

Real Estate Broker, Florida Future Realty, Inc.

 239-542-8521

Here are some basics: 

All South/SW Florida public schools are closed (most, if not all of the private schools as well)

Trash pick up is canceled

Flights canceled into and our of the SW FL International Airport

Many, if not most local businesses will be closed (We will be)

 More closing information can be found at the NBC website: http://www.nbc-2.com/News/fay_closings.shtml

Final Preparations:

Food, Water

Gas in vehicle

Gas for generator

Sand Bags for flooding

Secure outside furniture, other loose objects

Install shutters?

Pets

Medicine

Evacuation for low lying areas, coastal homes, barrier islands and mobile homes

Many shelters are now open

My favorite websites to check on the local weather:

www.news-press.com

www.nbc-2.com

www.abc-7.com

www.fox4florida.com

www.winknews.com

And more about storms/weather:

http://www.noaa.gov/

A lot of locals are taking this lightly and it does in fact look pretty disorganized and weak but it is best to be prepared. Expect lots of wind, some damage, possible flooding, road closings, lack of gas, possible power outages and lots of news coverage!

As they say, “Better safe than sorry.”

Good luck & be safe!

P.S. This is by no means meant to be an all encompassing ‘what to do’ blog but it gives some general information along with sites to gather more information.

Susan Milner

Florida Future Realty, Inc.

Interested in SW Florida real estate? Feel free to view the current listings at Lee County Real Estate

(239) 542-8521

2008 Copyright

If you recently moved here to Lee County you need to register your child(ren) with the Lee county school system.

If you have a child going into Kindergarten they too will need to register. Children must be 5 years old as of Sept 1, 2008 to be eligible for enrollment.

Lee county also has a free VPK (preschool) program as well. Children must be 4 years old as of Sept 1, 2008 to enroll.

If you are new to the district, you can start here: How to Register your child

The 2 typical questions I am asked about the schools here in Lee County are:

• What school district is this home in?

Lee County is set up as a school choice county. This means that you get your pick of what school your child goes to. You can pick from any of the schools in your zone. Most people end up getting their first or second choices. Go ahead, check out the Lee County School’s Zoning Map.

• Are the schools good here?

Well that’s easy to answer. Lee County has a grading system set up for the schools. You can see how each ranks here in Lee County.

You can also find more information about homes and the communities at our website: www.Florida-Future-Realty.com

Feel free to call us for help with anything, we’ll be glad to help you find the answer!

239-542-8521

Florida Future Realty, Inc.

Video tour created with my Mino Flip Camera – it is SO COOL!

Yours in Success,

Susan Milner
Florida Future Realty, Inc.
(239) 542-8521
Search Cape Coral & other area listings: www.Florida-Future-Realty.com
Susan@SusanMilner.com

Today my son and I spent about 2 hours within the trails of the Four Mile Cove Ecological Preserve right here in Cape Coral, Florida.  Located just south of the Midpoint bridge, right on the Caloosahatchee River.

We both brought our cameras so I hope you enjoy our photos. I’m going to showcase my son’s photos first!

Did I tell you he is only 5 years old?

Ok, so I took some photos as well to share with you of Cape Coral Park and Recreation’s Four Mile Cove Ecological Park:

So that’s it. Four Mile Cove Ecological Preserve is located in Cape Coral just north of the Midpoint Bridge. It is a 365 acre preserve with wildlife and plants. You can buy native plants there, rent kayaks and walk through the trails. FREE Admission. Open year round. Kayaks and plant sales are seasonal. Call 239-574-7395 in season for more information.

Yours in Success,

Susan Milner

Florida Future Realty, Inc.

(239) 542-8521

Search Cape Coral & other area listings: http://www.Florida-Future-Realty.com

Susan@SusanMilner.com

All photos are copyright 2008 to Susan Milner. You may not copy or reprint for any reason. Thanks.

You’d be a great fit at Florida Future Realty, Inc. IF:

• You Love Learning about the Latest Real Estate 

TOOLS

TECHNOLOGY

MARKETING

LAWS

NEWS

• You Love to Receive FREE Referrals      

Yes, Florida Future Realty, Inc provides FREE leads  

• You Love Working in a FRIENDLY environment 

Our agents all work together

• You Live By the Law of Attraction

You give knowing you’ll receive

• You Prefer to Remain Positive and Upbeat

 No negativity is allowed at Florida Future Realty, Inc.

Florida Future Realty, Inc. offers competitive commission structures tailored to your specific goals.

For more information, schedule a confidential meeting by contacting Florida Future Realty’s Broker, Susan Milner at 239-218-2229 or at Susan@SusanMilner.com.

Cape Coral Real Estate Career

Beyond this spreader canal is a preserve area of mostly mangroves.

Tonight the sunset was so pretty I grabbed my camera and snapped some shots.

This is a photo of my next door neighbor’s Palm Trees.

You cannot see the water in this photo but it is just below.

Here is the water view, just to the south of the palm trees.

And here is a view down the intersection of a canal with the larger, spreader canal

So, that’s my front yard….

What do you see in your front or back yards?

Copyright 2008 Susan Milner

Florida Future Realty, Inc.

www.Florida-Future-Realty.com

I just finished reading an article put out by The Associated Press over at MSNBC about the amount of FORECLOSURES. Looks like our area – Cape Coral / Fort Myers – ranks #1 according to data supplied by RealtyTrac.  You can click to read that article here.

Why all the foreclosures? I was asked just that last week by a woman who found me on my Cape Coral Real Estate website. She wanted to know why there were so many SHORT SALES and FORECLOSURES in our area.

There are a few reasons for it.

One reason is that real estate is cyclical. That’s right. Real Estate goes up & it goes down. Check the historical data, it is true.

Another reason in our area specifically I suppose, everyone got greedy. Investors & just average people all wanted to make A LOT of $$$$ in real estate. They heard that their friends bought some land or a house in Cape Coral & doubled their money in 2 years. Heck, many of these same people made a lot of money in the previous few years here as well. Yes, that is also TRUE – check the records. But what goes up must come down?

It came down. Many investors speculators were just getting into the market here, building a new home hoping to make a fortune (because others did). Unfortunately, hundreds of other investors speculators were doing the exact same thing. The builders were delayed because of the influx, the city’s permit department was behind too, – - you get the picture. Many investors speculators had to WAIT. While they waited many other homes finished & were sold to end users. But by the time their homes were near completion the supply was HUGE.  We still had a demand for Cape Coral homes but the supply was just too large.

Unfortunately, most of these investors speculators did not have a plan B. They assumed they would sell & make a fortune. Many, at this point, hoped that they could at least sell and break even or take a small loss just to move on. But we weren’t able to tell the buyers to pay for the other’s misfortune. They wanted a deal and were going to get a deal because of the excess inventory. Homes were, and still are, selling but they must be priced right.

The next reason is the lending. Yes, I said it. The lenders were giving loans to anyone with a pulse it seemed. How was it that an average person earning $50,000 a year was able to afford 2-5 brand new homes (around $250,000 each) with 0% down? HMMM. But they were given the loans. Did someone misstate the truth? Not sure but I do know that many were stated or even no doc loans so they weren’t even checked on. The banks were making their money, so were the mortgage brokers. Heck, the real estate agents, appraisers, title companies, builders, etc were all making money as well. Home investor speculator was expecting to make theirs too.

The same banks that so generously handed out financing the previous few years were tightening up their guidelines. Many would be buyers could not qualify. Uh oh – that just shrunk our buyer pool.

Prices continued to decline, financing options changed, option arms reset, economy slowed as a whole….

So what can we do now? Read more about the Cape Coral Foreclosure problem….

Yours in Success,

Susan Milner

Florida Future Realty, Inc.

(239) 542-8521

Specializing in great waterfront properties in Cape Coral & Surrounding areas. Visit us online at www.Florida-Future-Realty.us or search for homes online anytime at www.Florida-Future-Realty.com.

Copyright 2008 Susan Milner Florida Future Realty, Inc.