New Housing Bubble is Stealing from the Average American Person. This is a result of All the Government Regulations, and Oversight that were suppose to “protect the American public” from such a disaster that is taking place. Continue reading
Whether you are a first time home buyer or a seasoned veteran of buying homes; here are some things to consider when working with local builders and home contractors in Cape Coral, Fort Myers, Lehigh Acres, Bonita Springs and Lee County Florida. General issues to consider prior to entering a contract for new construction are: Construction Time Frames, Deposits, Change Orders, Inspections, Draw Orders… Continue reading
National Housing Numbers Rebound and Lee County Home Values increase over 30% year over year in August, 2012. Good news from the association included the higher selling prices of traditional homes that helped boost the area’s overall median price, an increase of 30.9 percent in August to $127,000 from $97,000 a year ago. It was the sixth month in a row that the median price has been above $125,000.
“The market indicators are up in Southwest Florida,” said Marion Briggs, association president, in a statement about the local numbers. “For the past six months the median price has remained above $125,000, due largely in part to the fact that traditional properties have been the majority of our single home sales, which is very good news.” Continue reading
Just sold for $218,000 on December 9, 2011 a Just Right Realty listing located at South East Cape Coral, FL 33904, with the help of House-guy.com your Fort Myers Realtor and Cape Coral Waterfront Specialist. This was a beautiful 3 bedroom 2 bathroom home with just under 2000 square feel of living area. The homes location on one of Cape Coral’s beautiful canals, the Mango Canal is just one bridge away to freedom on the open waters of the Caloosahatchee River, and head south for a few minutes and you are in the Gulf of Mexico. Truly a location boater enthusiast love. Sit on your dock and fish for Snook, or watch for Dolphins and Manatee’s as they peacefully swim the warm waters found in Cape Coral and southwest Florida. They say one of the most important aspects of real estate is location, location, location…ok so that was three aspects. This home has it
and much more to boast about!! More bragging rights of the home of granite countertops, stainless steel appliances, tile in main living area, plush carpets in the bed rooms, and formal living room, classy color scheme throughout, a slide through window in kitchen which is great for passing martini’s to the pool area, and then there is the Solar heated Pool, brick pavers for the deck, wrap around dock for your boat and pilings ready for your boat lift. The new owners of this home are some of our snowbirds who have started to fly south for the winter time to sunny florida. Good job Just Right Realty Company for all your hard work on another successful closing on this waterfront pool home in Cape Coral Florida.
As always, we welcome your comments, your ideas, your suggestions on how to make this blog more useful to you the customer. Please leave your response below, they are important to myself and they are each read and responded too. Make it a great day!
For 2010 the most expensive property sold was located at 14000 Schultz Rd, Fort Myers, FL 33908 located next to Gulf Harbour. The property boasts of a private River Front Estate on the Caloosahatchee River in Fort Myers Florida. This estate spans over 7 acres and offers a Victorian Mansion of over 12,800 square feet. It was sold in January 2010 for $3,700,000 and was only on the market for 30 days. The property has room for everyone and every toy, with 5 bedrooms, 8 bathrooms, mother-in-law quarters and a custom 5 car garage for all those toys. From every angle in the house and on the property you have expansive views of the beautiful Caloosahatchee River.
What this home begged for and I am sure it received from it’s new owners, Mr. and Mrs. Cutler was a make over. Bringing the beauty and elegance of the 19th Century, up to the standards and demands of the 21st Century Homeowner.
If we do the numbers, this home 7+ acre, 12,000+ square foot home sold for $288/square foot! For representing Lee County in 2010 as the most expensive real estate sold, the price per square foot is low, when considering a standard 3 bed room 2 bath room home on the River with less than 3000 square feet sold for over $400 square foot during the real estate boom. The Cutler family made a great purchase when they closed on this property. As we look back at the most expensive sale for 2010, you probably are looking forward to know what the most expensive sale for 2011 is, or will be. Come back soon for the update on the most expensive real estate sold in 2011 in Lee County Florida. I am willing to bet it is one many beautiful beachfront homes found on Sanibel Island, Captiva Island, Fort Myers Island or Bonita Beach.
Listing Courtesy of: Coldwell Banker Residential Real Estate
Gosh Justin, writing 2 blogs a week, servicing 10+ short sale contracts, and working with 5 very antsy buyers fills a week really fast. Hey, I guess I should count my blessings and be happy to be busy during the “slow” months of Florida Real Estate. The topic of my blog today is going to be the Value a Quality Property Management Person. You see, I have managed dozens of properties in Southwest Florida over the past decade. In this time frame I have created critical relationships with contractors of every kind. One of my tenants called and complained about a water damage to a property. Let me tell you, Water Damage was an understatement, the exterior wall, was rotted completely through. You now have mold issues you definitely had water sitting in the room, and it was not a good site. Upon calling the home owner, they new this day was coming because when they purchased the property their inspection revealed concerns about this particular wall they were not surprised. They asked me to get a few bids. The tenant said a friend from his a church would be happy to do a bid, so I figured I would let him do it first. The bid came back with not a lot of detail but with a price tag of $2950. A week went by before I had the next contractor come and in that time frame the gentleman from church said, the longer I wait the worse the damage would get and the bill would be over $3500 if I waiting too long. I agree, we needed to do it fast, but at the same time we needed to do it right. I also explained to the tenant that we would be happy to credit him a couple hundred dollars for his inconvenience, this caused. The tenant was EXTATIC that we would be so nice to offer that. That is what I like, HAPPY TENANTS in the midst of a disaster! That is great property management if you ask me! OK, so on with quote # 2. It came in at $2250 with more detail, a timeline, specifics with materials, ect. I liked it. NOW, quote #3, from CBC, which is similar level of schooling and state licensing for construction as to a GC but seems to be more cost effective to be a CBC. This quote, $1400, with detail as to materials used, which were better materials than the previous 2 quotes. Let me say that again, better materials and a lower price! HM sounds like a Target or Walmart ad…. We went with quote #3 from Ferrara Construction Services and can not be happier with the job well done. They completed the job a day ahead of schedule and in the end cut us a $100 savings off the bill! It just doesn’t get any sweeter than that. Bieber. What is the Value I bring to the table for my investor/landlord? Over $1000 in savings this year for having Justin Ruzicka, The House-Guy as his partner and property manager! If you are a landlord in Southwest Florida looking to hire a true professional, let my past success speak for the value I bring to you! If you are an investor looking to purchase real estate and earn 10%, 12% or even 30% a year on real estate investing then please feel free to contact me. I am happy to help you start searching for that investment today!
The Official numbers are in for the month of September 2011 in Lee County Real Estate. There are some interesting numbers for those who are looking to buy a single family home in Fort Myers or Cape Coral or anywhere in Lee County for that matter. For Buyers, the numbers look like they are in your favor, well that is everything but price. Median sales price, Increased 5% in Lee county from August to September, as it went from $95,000 to $100,000. For sellers who are on the fence when it comes to selling this is good news.
It may be time to get the house listed and for sale. It may be a change in the tides and trends. If you are a seller sitting on the fence I encourage you to read through my series in September that points to Selling Now IS your best bet. If you are a buyer on the low end of the price structure, for most First Time Buyers that is you, or for many second home buyers and investors as well. YOU need to act fast. If you wait till 2012, you will be paying 10% higher sales prices if not more. If you are a fist time buyer looking to pay less than $80,000 in Lee County you really need to act fast as that market inventory level is dwindling faster than all other markets.
For sellers, there is bad news. There was a 22% decline in closed sales, YIKES. This is a very scary number if you are a seller. A decline in closings means that buyers are being pickier, buyers are being pressed for finances from other factors in life limiting their real estate purchase, or buyers have become just plain scared out of the market place. Either way you slice it, that is not good. It is also clearly shows that lenders are NOT lending….no matter how much they spend on ads saying they are. If they were lending, then we would not see such a HUGE decline in sales. That is all we have for the Lee County Real Estate Statistics for September 2011.
Check back later for our updates on HOT neighborhoods and communities in Fort Myers, Cape Coral, Estero, and Bonita Springs that we are keep our eye on for you!
I have a listing in Botanica Lakes, which is a beautiful gated community located on the Treeline Corridor in Ft Myers Florida. This house is 2700 sqft, 5 bedrooms 3 full bathrooms and is the cleanest, most professionally decorated, well kept home I have listed in 7 years. Yeah, it’s that good! Now it is listed $37,000 less than the comparable homes the builder is selling and I use comparable loosely because the builder’s price doesn’t include the $40,000 in upgrades this home has over the builders’ properties currently for sale. I have done a few open houses, and I have had a couple of buyers show up to each one. The other day I had a “qualified” buyer tell me she would be willing to write an offer on the house, albeit low offer. I am happy to oblige any buyer in this down market so I wanted to follow up with her immediately. Which I did, upon following up, I find out she has a realtor she is working with from Century 21. I say, ok, I don’t want to walk on toes, so I get the realtors contact info.
The realtor begins to tell me her buyer is pre approved and fully qualified, with a $100,000 deposit on a $250,000 house. By all means that is a “strong” buyer. Then the agent went on about how her buyer had gainful employment here and how this $100,000 was easy for her buyer to get.
I asked the realtor if the seller had Proof of funds of the $100,000, to that she responded it is in the equity of her home.(what?? a second ago she said it was easy to get) I then asked, “was this home with the $100,000 of equity under contract?” To that the agent responded no. I asked was the buyer qualified if she wasn’t able to sell her other property, to which the agent said no. Let me spell this out clearly, the “strong” buyer who has a job, but doesn’t have a penny in the bank is hoping her home sells and that at the end of the day she has $100,000 left over from closing costs, taxes, ect. What if she has to reduce her price $10,000 to get the home sold? What if the roof leaks, the what if’s are endless. BUT this is a “STRONG BUYER” according to her realtor. NO sorry, this is a buyer living a dream and her realtor is on the same cloud. Hey, I am a millionaire when my rich uncle dies and hands it all to me…will you give me a loan? I hope not. Come on this buyer is weak, and her pre-approval is contingent on the sale of another property. If realtors are talking with this kind of foolishness what hope is there for the marketplace. I told the agent to call me back when all the loose ends were tied up and then I would consider an offer she put together for her buyer. Until then, I told her interest rates are going up and her buyer will be paying more for the house down the road. OH yeah, and the HER BUYER WAS A WEAK BUYER currently!!!
I know my previous post was a little politically charged. OK, I am over my weak spot or maybe angry spot I have for the government these days. You have been patient enough to read my series of blogs on Why 2011 will be a better year for real estate than 2012! You have been waiting for this post today with great anticipation as to Justin, The House-Guy’s reveals the most important factor that will determine a better sales price for your house NOW, then in the upcoming year of 2012 or far be it for you to try and sell many moons after that. Don’t get me wrong, real estate is still going to exist, properties will still be bought and sold, families will still have job transfers, foreclosures will still happen, even short sales will still be a part of the real estate market, IT will just be a much different landscape to work with that it is today. Are you ready? Do you want to know WHY 2011 will be a better year to sell your home than 2012? OK….Here it is
“Shadow Inventory” Is the reason!
This is a real concern for all the players in the real estate market. It is agreed on that Supply and Demand are the major factors affecting price. If there is a large supply with demand staying constant then prices drop some 10%+ is the predictions of Case Shiller Index. If there is a large supply and DEMAND decreases, THEN, ladies and gentleman we will see an even further decline. No body wants that, but with high unemployment, concerns over government consistency, or whom might be in office in the future, I can assure you DEMAND will decrease! Nationally it is arguable to suggest the Shadow Inventory is reaching 1MILLION homes, that is roughly 20% of our yearly sales levels are in this Shadow inventory, which would suggest it takes 12+ months to absorb. For Lee County the picture might not be so bright. From our research there has been 73,511 homes foreclosed on in Lee County from January 1, 2007 through August 2011. In that same time frame there have been just under 50,000 homes sold through Greater Fort Myers MLS that were distressed properties, which is a combination of short sales and REO’s. This suggest that for Cape Coral, Ft Myers, Lehigh Acres, Estero, Bonita Springs, and Fort Myers beach and all of Lee County there is 20,000 plus homes in the Shadow Inventory. This is NOT GOOD! If the real estate sales in Lee County stay consistent at 12,000+/- units a year then the shadow inventory will take over 20 Months to sell just itself! That doesn’t included all the home owners who want to sell their homes for what ever reason it may be that year. This evidence is solid, it is stable ground to stand on to say property values will NOT be increasing in the next 24 months and will surely decrease in 2012!
The good news, I can sell your home FAST for TOP DOLLAR! The House-Guy is a Short Sale Expert(as seen from previous posts and 200+ successful shorts sales I have closed). Over 80% of my business is built from listings, while the other 20% of my business is working with First Time Home Buyers and Second Home Buyers. Clearly my expertise is on the listing side of the transaction. Here is the Carrot all home owners want. I will discount my services by 15% If you List your home prior to November 1, 2011. Print this Post as Receipt.
If you want further PROOF that lenders’ know and are predicting real estate prices to continue to drop in 2012 I will be doing a blog on Fannie Mae and FHA Loans later this week! A must read.
HOLY COW, Can you believe the Stock Market, in two days it lost 1146 Points! YIKES. And then the US debt rating was reduced from AAA to AA! I don’t care who you are these actions by the “markets” are an economic indicator if I have ever seen one. Listen, I am not the Doom and Gloom Guy, I am the House-Guy, and I love selling real estate. I love helping my neighbors who need a true expert when it comes to short sales. I pride myself on market knowledge and the skills and team work I have to complete short sales and ensure there is NO Deficiency!!! But I have also been able to help dozens of investors earn very real profits of 30%-50% a year, yes you read that right, PROFITS of 50% a year in real estate.
If you think 50% is a large number then lets work of my lowest performing team who made 32% last year. We did this with a simple process driven formula. Just like in my short sales where I have the process down pat, I have the formula down for finding properties, purchasing properties, and reselling properties in a timely fashion for a profit. I have counseled a handful of investors and for the most part team up with investors to make some money together. What is my point to this newsletter. My point is simple, if you are afraid of your stock portfolio losing 50% this year or even 10% then you might consider diversifying some of your monies into other performing assets for you. A performing asset might be a home you have rented out, it may be a home you purchased and sold and completed a 1031 Exchange into another investment so you are not paying taxes on your profits. If you have an IRA or are interested in opening up a Self Directed IRA I am happy to put you in touch with a great firm that handles that. With this Self Directed IRA you can choose to invest in real estate and protect yourself against what could be a very bad year for Wall Street