Here is a helpful tool courtesy of Gibson, Kohl, Wolff & Hric. P.L. that will estimate closing costs for both buyers and sellers.
On average it cost just over $21,000 more to purchase a home in the Fort Myers area in 2011 than it did in 2009 with average selling prices increasing from $132,068 to $153,021. This increase of 15.87% in the average selling price is among the highest in the nation for the 2009 – 2011 time period.
Selling a home can be a challenging endeavor right now in Southwest Florida. With an MLS chocked full of foreclosures and short sale listings, regular sellers are under constant pricing pressure each and every day
The 10,000 lbs elephant in the room right now in the Fort Myers real estate market is that of price. Buyers are inundated with short sale and foreclosure deals and are locked and loaded looking for a deal. A traditional seller that purchased a home after about 2003 doesn’t stand much of a chance of generating a profit on a home sale.
Business Week reports that lenders are stepping up their efforts to collect on deficiency judgments of mortgage defaulters. The article reports that banks are seeking deficiency judgments in both short sale and foreclosure scenarios.
Here is a video of a Las Vegas homeowner calling into Your Money on Fox News. The caller poses the question of whether he should strategically default on his underwater home. The panelist present arguments for both sides of this debate: Where do you stand on this debate?
The NY Times has an informative article about seller expectations and the consequences of listing a home for sale at an unrealistic price point. In our market, distressed properties are the baseline which are setting the pricing bar across most communities and sectors. If you are selling in a community[…]
If there is a silver lining in the SW Florida real estate bust, it is that I no longer get stacks of low-ball mail solicitations for vacant lots that I own in Cape Coral. Today, a different sort of Cape Coral vacant lot solicitation was sitting in my mailbox. It[…]
Market stats recently released by the Greater Fort Myers and the Beach MLS substantiate what we are seeing in the trenches. Sales in December 2008 were up a whopping 181 percent over December 2007. In December, 1,034 homes sold, up from 367 a year ago. Buyers are back in a[…]
A recent Washington Post article titled, Working Harder For Every Sale, chronicles several Realtors going the extra mile to sell a clients home. I applaud the creativity and initiative put forth by these excelling realtors. Recent statistics from the National Association of Realtors suggest that 82% of all real estate[…]
The Washington Post discusses the rapidly growing importance of web 2.0 practices in the real estate industry. Wikipedia defines Web 2.0 as: a living term describing changing trends in the use of World Wide Web technology and web design that aims to enhance creativity, information sharing, collaboration and functionality of[…]
Great column by Chris Griffiths in the Naples News for home sellers about inspecting your MLS listing. Making a few key changes to the listing information can greatly improve your house’s chances of selling. A stale, incomplete or inaccurate listing in the MLS system truly hurts your chances of sucess.[…]