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Cape Coral, FL Real Estate News

By Mike Canzano, Associate Broker / Realtor
(Berkshire Hathaway HomeServices Utah)
This past Monday night the Cape Coral city council halted the plans for utility expansion for Southwest 6 and 7.  This approval for utility expansion may come up again in the future but for now the plans are on hold.  In light of the lowered land values this probably makes economic sense.
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By Linda Flack, The Villages is where you retire with attitude
(Realty Executives in The Villages)
It is great to know that Cape Coral's Academic Village has some life and the City of Cape Coral is moving it forward.  This is exciting for all of Lee County. Representatives of fifteen construction, architectural and engineering firms are interested in Cape Coral's planned research park in the northern part of the city. They attended a pre-bid conference Oct. 16 for the park, to be located on the city's 182-acre Academic Village site on Del Prado Boulevard and Kismet Parkway. The research park  has the potential of providing hundreds of construction jobs. Those people and their employees would be planning and constructing the buildings and infrastructure needed by high tech companies the city is trying to lure to the park. Firms that the city would like to locate at the park include co...
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By Mike Canzano, Associate Broker / Realtor
(Berkshire Hathaway HomeServices Utah)
I published this information recently but thought it would be better to do with a graph to really show what is happening with the Cape Cora Real Estate Market.  As of this past March (2008), the number of sold homes has dramatically increased.  I believe the major contributors to this fact are: Home prices have come down to 2001 levels.  The buyers who wanted to purchase between 2004 to 2006 were priced out of the market.  Consequently, most of them returned to the Midwest, Northeast, or Europe and did not buy.  Now they see the great opportunity in front of them and they're not hesitating to make offers...and ultimately purchase. The number of bank owned homes has increased.  However, this just means the banks are now at the point where they will sell.  Prior to the foreclosure, the l...
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In a real estate market where developers and corporations are whittling down their staffs, banks and insurance companies are faced with what to do now these institutions have become the reluctant owners of huge portfolios of buildings, many of which have been neglected by cash-strapped developers who finally defaulted on one debt payment too many. Most of the institutions have farmed out the day-to-day responsibilities for managing and leasing the properties to professional firms like LandQwest Asset Recovery, LLC. The reason is they are scrambling to find high-level people who can both supervise the outside vendors, and most importantly figure out what to do with the properties in the long run. LandQwest has assembled a Superior Team Of Professionals who handle property management, sp...
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By Barbara Klare, Broker Associate, Jones & Co Realty
(Looking For a Real Estate Value in Cape Coral or Fort Myers?)
Yes, we all know the market in Cape Coral has tanked and this SW Florida city is the number 2 foreclosure capital of the country. September is traditionally a quiet month for sales here. But in September 2008 sales were a record high. Most of these sales were foreclosures or short sales. The banks have finally gotten serious about getting these homes sold. The listed price is now the price the bank is certain to sell the home within 30 days. This is great news for today’s buyer.  Short sales are also selling. 153 of the 451 homes sold were short sales. That is a dramatic turnaround in the lenders attitude. Is there room to negotiate? On homes $125K and under, I would say no. There is little wiggle room here. Most are selling close to 100% of asking price, sometimes over asking price. Th...
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By Susan Milner, Cape Coral Real Estate Broker, FloridaFutureAgents
(Florida Future Realty, Inc.)
I'm a firm believer in only addressing a problem if you have the solution. 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...
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By Jay LaGace, Cape Coral / Lee County Real Estate - 239-443-8795
(RE/MAX Realty Team)
Description and Features Links Our WebsiteListing Website
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By Linda Flack, The Villages is where you retire with attitude
(Realty Executives in The Villages)
Sometimes you read an article and just say, What?  When a large news venue like Reuters doesn't do any in-depth reporting I find this to be very wrong.  An article written bashing Cape Coral and calling it a waste land is just one of those articles.  Call me crazy, I have lived here since 1993 and I have watched and worked in the real estate community since then.  I came from the Annapolis Md. Area where the Chesapeake Bay is always in a state of being cleaned up (Yuck) and old overpriced homes selling for huge prices. I came to Cape Coral and found beautiful waterfront property and unbelievable inexpensive prices at the doorstep of the Gulf of Mexico.  The dolphins, manatees, red fish all call these waters home.  Boating is done all year long and this is the "Sunshine" state.   We have...
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As the financial crisis hits Main Street America, nearly one in six US homeowners are finding themselves in the same position, threatening the US economy with a new wave of foreclosures and bankruptcies. About 12-million US homeowners owe more than their homes are worth, compared with 6,6-million at the end of last year and slightly more than three million at the close of 2006, said Mark Zandi, chief economist at Moody's Economy.com. "At the root it's 'the' problem," said Zandi. "If you're going to put your finger on the one thing that's gotten us into this fiasco, it's the fact that millions of homeowners are under water on their homes." Already, US consumer spending is slumping as homeowners find they can no longer take equity out of their homes to fund their lifestyles. In a slowing...
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By Robin Whitt
(Home Sales Associates - RE/MAX Realty Team)
Photo Gallery Description and Features There are so MANY agents out there TRYING to duplicate what the LAGACE & WHITT PARTNERS OFFER. Don't be fooled by second rate realtors that do not have the expertise or ACTUAL NUMBERS to prove their track record. The LaGace & Whitt Partners is the #1 Team at Century 21 Birchwood Realty for 2008, no other team can touch us! The LaGace & Whitt Partners are in the Top 1% of Sales for Lee County. #42 in Closed Transactions in the Entire USA. No other team comes close to the Customer Service the LaGace & Whitt Partners offer our Buyers and Sellers. In this market you need a Team that is going to represent you in the best possible way. Don\'t settle for a second rate copy when you can have the ORIGINAL #1 TEAM IN CAPE CORAL REAL ESTATE! Call us today! J...
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By Colleen Pearsall
(Pearsall Properties Inc)
  Here is the 24 hour report for activity in the Cape Coral Real Estate market according to the MLS. This information is provided directly from our local MLS. Please feel free to check back often for the most accurate and updated information available in the Cape Coral area for local real estate reports and statistics. For more free reports and Cape Coral Real Estate visit http://www.intelligentlisting.com/   New Listings 52   Back on Market 13   Price Increases 15   Price Reductions 114   Contingents 12   Pendings 36   Solds 25   Expireds 27   Inactives 26   SELLERS:  Visit my website http://www.colleenpearsall.com/ for a FREE over the net home evaluation. BUYERS:  Visit my website http://colleenpearsall.listingbook.com/  to be the first to know about hot new listings! SEARCH THE MLS h...
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By Mike Canzano, Associate Broker / Realtor
(Berkshire Hathaway HomeServices Utah)
From the CapeCoral.net website:       The City of Cape Coral has been working to reduce the insurance rating of the city, which would produce lower insurance costs for many homeowners.  In July, the City of Cape Coral was notified by the Insurance Service Office (ISO) that our efforts had been successful and our rating had improved.   Our city-wide “Public Protection Classification” rating is now a “3,” down from a previously split rating of “4/9.”  The new rating becomes effective November 1, 2008.  What is the Public Protection Classification rating?    This Public Protection Classification Program establishes appropriate fire insurance premiums for residential and commercial properties.  Insurance companies need reliable, up-to-date information about a community's fire-protection ser...
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By Mike Canzano, Associate Broker / Realtor
(Berkshire Hathaway HomeServices Utah)
    The City of Cape Coral is making an aggressive move to diversify the city's commercial industry and spur new economic development.  The city has issued two requests for proposals seeking developers to build a hotel and ice rink adjacent to the city's Sun Splash Family Waterpark and an academic village and research park in the northeast section of the city.  In both cases, the city owns the land and will offer developers a low-price land lease to help minimize development costs.   The deadline for responding to the proposal is October 30, while the academic village deadline is Dec 23.  Copies of the RFP are available online at demand-star.com or by calling (239) 574-0831
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By Mike Canzano, Associate Broker / Realtor
(Berkshire Hathaway HomeServices Utah)
  As reported in the NewsPress today: $43 million project to widen road to six lanes By DENES HUSTY III • dhusty@news-press.com • October 23, 2008 The plans are finished and construction should start by December on widening Del Prado Boulevard North. The $43 million project involves widening the road from four to six lanes from Pine Island Road north to Kismet Parkway, said Maricell Venegas, project spokeswoman. The work by Balfour Beatty Construction is scheduled to be finished by spring 2011, she said. The six lanes, she said, will tie in with the six lanes of Del Prado south of Pine Island Road. The road is being widened to handle increased traffic along the route, Venegas said. An average of 18,100 to 22,100 vehicles a day travel along Del Prado Boulevard north of Pine Island Road,...
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By Barbara Klare, Broker Associate, Jones & Co Realty
(Looking For a Real Estate Value in Cape Coral or Fort Myers?)
Cape Coral is a very pretty city located in sunny SW Florida on the Caloosahatchee River. Just west of Fort Myers. Cape Coral has hundreds of miles of canals flowing into the Gulf of Mexico. It is one of the largest boating communities in Florida. The popular beaches of Ft Myers Beach, Captiva and Sanibel Islands are close by.  Living choices include beaching, boating, fishing, kayaking, swimming and snorkeling. At the moment Cape Coral has a wonderful choice of homes, condos and vacant land.  Many properties are bank owned foreclosures. My clients are those looking to make a move now, to buy a second home or invest in a future home. The question is, what do You get For your money in today’s Cape Coral Real Estate Market? At the moment Cape Coral has a wonderful choice of homes, condos...
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By Mike Kelly
(Sellstate Advantage Realty)
Well the humidity is gone and the nights are cooling down to the 6o's, But that is the only thing cooling off in Cape Coral! The real estate deals are hotter than they have been in years. Buyers are everywhere and it is a welcomed change! I was reading recently that baby boomers retirement will peak in 2011! More people retiring at one time than ever before! I would like to be one of them but that will probably be a little premature for me! Since turning 50 a few years ago I continually receive emails from friends who want to remind me of my age! Here is a sample:   Perks of reaching 50!!!! 1. Kidnappers are not very interested in you. 2. In a hostage situation you are likely to be released first. 3. No one expects you to run--anywhere. 4. People call at 9 pm and ask you, “Did I wake yo...
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By Mike Canzano, Associate Broker / Realtor
(Berkshire Hathaway HomeServices Utah)
  As reported in Gulf Coast Business Review (Oct. 17 - Oct. 23) Southwest Florida International Airport is getting three new airline destinations this winter.  AirTran is scheduled to start service to Columbus, Ohio on Nov. 7.  Next month Southwest Airlines is scheduled to start nonstop flights to St. Louis and in December JetBlue will begin nonstop service to Washington Dulles International Airport.   In addition, Air Berlin will offer three nonstop flights from Ft. Myers to Dusseldorf, Germany.    What does all of this mean?  I believe this is a sure sign that buyer are coming back to Cape Coral as well as the entire Southwest Florida area.    Unsure how to buy a Cape Coral foreclosure or Cape Coral Short Sale? Download our special FREE Guide, "How To Successfully Buy Foreclosures an...
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By Mike Canzano, Associate Broker / Realtor
(Berkshire Hathaway HomeServices Utah)
Here's another Great Cape Coral Short Sale.  This Cape Coral Sailboat Access Home is currently listed for $194,000 with the listing agent indicating it was recently BANK APPROVED at $180,000.  Does this home need some work?  Sure it does but for the right buyer this is a extremely good opportunity.   Unsure how to buy a Cape Coral foreclosure or Cape Coral Short Sale? Download our special FREE Guide, "How To Successfully Buy Foreclosures and Short Sales" and "The Ten Biggest Mistakes Buyers Make".
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By Scott Slocum, Scott Slocum & Associates 239-222-4800, Cape Coral
(Florida Future Realty Inc.)
A recent news article regarding the Cape Coral Foreclosure crisis had city officials stating they were contemplating using the $7,000,000 to purchase and rehab up to 80 homes in the City of Cape Coral and re-sell them to home buyers.The City of Cape Coral could find much better things to do with the $7,000,000 that just buying and selling 80 homes.  Banks are having a difficult enough time trying to move properties they presently own.  Keep in mind that the bank owned homes will sell... they always have sold... and they always will.  Banks will liquidate these homes if necessary, but the home exteriors need some sprucing up to speed the process along.  As part of the agreement to recieve the money the City of Cape Coral does have to buy a certain number of homes to rehab and turn them a...
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By Mike Canzano, Associate Broker / Realtor
(Berkshire Hathaway HomeServices Utah)
Because of the tremendous response from Buyers we are attracting with the Cape Coral Home Vultures website a seller that has picked up several Bank Owned Properties has contacted us to sell several Cape Coral Foreclosures.  This home is ready to go and you will not have to go thru the effort of a Short Sale.  As you can see below this home is neat and clean and ready to go.    As a comparison the the home at 427 NE 20TH ST, Cape Coral,FL  recently sold for $107,446 and is smaller than the one above.  This sold home is within a mile of the home above.    Contact me for more information on this Cape Coral Foreclosure and many more.     Unsure how to buy a Cape Coral foreclosure or Cape Coral Short Sale? Download our special FREE Guide, "How To Successfully Buy Foreclosures and Short Sales...
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