State and National News:
- Forecast: Fla’s economy will outpace U.S. Read more…
- Wage growth now matches rental rate growth Read more…
- The 20 safest Cities in the U.S. Read more…
- Inflation and you: Rising prices and real estate Read more…
- Fla.’s foreclosure rate dropping Read more…
- Americans will pay more to live near transit Read more…
- The cost of home renting vs owning in Florida Read more…
Taxes, Financing, Insurance and more:
- More home insurance companies look at credit scores Read more…
Cape Coral and SW Florida News:
- 10 Best Cities to Live in Florida Read more…
- City Manger recommends property tax cut Read more…
- Cape Coral combines land in Bimini Basin for developer Read more…
- Foreign investors no longer on 2015’s spending spree Read more…
- Presentation of Seven Islands Alternative Concept Plans Read more…
- SWFL Home Prices on the rise, not as fast as last year Read more…
- Babcock’s solar city breaks ground Read more…
- Property valuation up more than 8% in the Cape Read more…
Real Estate Tips:
- 9 Minor Kitchen Tweaks Read more…
- 7 Air Conditioning Tricks to make you feel cooler Read more…
Nature:
- Cape Coral Trails Read more…
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REMAX Realty Team #1 in Lee County again! Thank you to all our wonderful Customers!
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THIS MONTH’S FEATURES:
2226 NE 5th Ter… Affordable and Adorable! only $144,900
This remodeled home is all shined up and waiting for its new owners. Interior has been freshly painted. City water/sewer in and ASSESSMENTS PAID. Come relax in your spacious and FENCED backyard and pick a banana off your own tree. The chef in the house will love the GE STAINLESS STEEL appliances and the kitchen with lots of counter space. Washer/Dryer new in 2013. A/C replaced in 2010 and serviced every year since. Newer Thermal Pane Windows. New bathroom sink, faucet and vanity. Fresh mulch and more. Move in ready. Plus, County website shows this property does NOT REQUIRE FLOOD INSURANCE.
Click here to see more…
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“Backyard News”
> Cape Coral traditional single family homes sales were 2,248 up from last year (first ½ of the year) compared to 2,217 from a year ago.
> While traditional homes continues to gain strength, the distressed market plummeted nearly 60% from 428 to 172.
> Total single family closings in June were 433 with an average sales price of $264,000 an increase of 16% over 2015, the second largest single month appreciation this year.
> Inventory fell again last month by 3% to a total of 1,490. As we enter into the second ½ of this year, listings are expected to rise. Currently we have 4.4 month of inventory.
> 937 permits were issued in FY 2015, so far this year we are at 907 with three months to go!
“Industry News”
> Fannie Mae DU 10.0 effective immediately, all case files will be affected: Conventional buyers will now be graded on history rather than what is currently showing on their credit. Which may affect eligibility.
o Harder conversion for conventional buyers because of their past payment history.
o More liquid reserves will be needed based on LTV’s and credit scores.
o DU will determine the amount of reserves required.
> Fannie Mae Property Inspection Waiver (PIW) Appraisals may be waived depending on the results of an automated underwriting findings on a buyer. Those with great credit, high income, and property that is being sold under the current AVM using Fannie Mae’s automated valuation model (AVM) may not have to have an appraisal done on the property. Thus saving money and potential appraisal issues.
