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Cape Coral Real Estate New for July 2017

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Cape Coral Florida Real Estate news

July 30,2017

State and National News:

Taxes, Financing, Insurance, Scams, and more:

  • Many consumers don’t understand credit scores   Read more…
  • Condo Law changes went into effect July 1   Read more…
  • Fed leaves rates along – but it’s closer to selling off bonds   Read more…
  • It’s not easy to regulate Airbnb-type rentals   Read more…

Cape Coral and SW Florida News:

  • Cape Coral among safest Cities in State   Read more…
  • Cape Coral maintains ‘second-safest city title   Read more…
  • Study: Best U.S. cities for first time homebuyers   Read more…
  • Land use criteria changed for Seven Islands area   Read more…
  • Village Square downtown Cape Coral   Read more…
  • Fla. home to 43% of top metros for second-home bargains   Read more…
  • 25 Places to Buy a Vacation Home on a Budget   Read more…
  • Cape Coral Drivers Among the best in the Country   Read more…

Real Estate Tips:

Nature:

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THIS MONTH’S FEATURES:

1036 NW 36TH PL… THROW YOUR SNOW SHOVELS AWAY!!!!   Only 14,900

If you are planning on buying an off-water lot and you are lucky enough to find one across the street from waterfront -BUY IT!!! Located in unit 60 this FABULOUS LOT is located across the street from GULF ACCESS WATERFRONT properties!……. With highly desirable Western Exposure you can get some beautiful sunsets… Located in the City of Cape Coral’s New Vision planning area with lots of new construction nearby. Imagine building your dream home in this beautiful community and living the Paradise dream…. Saltwater Boating Access from the Community Boat Ramp just a couple of miles away will give you access to the Gulf of Mexico, beaches, and surrounding islands such as Cayo Costa, Cabbage Key, Sanibel, Boca Grand… Plus, you’ll love the fact that this lot is only a couple of miles away from an 18-hole Championship Golf Course. PRICES ARE ON THE RISE! Don’t wait….

 

Click here to see more…

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 “Backyard News”

> Second quarter sales higher than 2016 by 5%, total closings YTD were 2,378.

> June sales increased from May by 4% and in one year the jumped by 10%.

> Cape Coral home prices have come a long way since the bottom of the market, approximately 116% although continuing to rise year over year, we are roughly $99k away from peak prices!

> Average sales price in Cape Coral is $279k a rise of 7% in one year.

> Ft. Myers mid-year sales totaled 1,860 for single family properties, an increase of nearly 5% from a year ago!

“Industry News”·

> Qualifying with Delinquent Federal Tax Debt:

Delinquent federal tax debt that does not appear on a borrower’s credit report, or on the title report may remain unpaid provided the following:

Borrower has entered into a valid repayment agreement with the federal agency owed, at least one month of the scheduled payment has been made on time and payment amount must be included in the calculation of the borrower’s debt to income ratio.

Federal tax liens that appear on credit report or a title report: May remain unpaid providing the following: borrower has entered into a valid repayment agreement with the federal agency owed, at least three months of scheduled payments have been made on time, payment amount must be included in the calculation of the borrower’s debt to income ratio.

Borrower cannot pre-pay scheduled payments in order to meet the required minimum of three months of payments.

> Low inventory/contingent offers/move up buyers?:

Bridge loans may be the answer for those that wish to purchase but have a home they need to sell first. Bridge loans allows the homeowner to buy a new home before selling their current home. Under certain terms, a borrower’s home payment is eliminated so they only have one payment while they sell their current home. The equity in their current home can be used as the down payment for the new home. No principal/interest payments on the bridge loan required for up to 12 months, while the current home is being sold, no application or prepayment fees/penalties and the bridge loan can be used for single family homes and condos that are primary residences.