Cape Coral Real Estate Brokerage | SW FL Property

Home Sales in Cape Coral FL.

Florida Future Realty — Wed, 14 Jul 2010 13:57:18 -0400

Here in Cape Coral FL, we have many homes for sale, whether it is a traditional sale due to relocation, upgrading, or downsizing, or the many being sold due to foreclosure, or short sale. Has the economy influenced the rate at which homes are selling, as portrayed by the media? Or, are more people buying because home prices continue to be discounted, and offered much more economically than in past years? Here are the statists below:

Homes priced from $0 to $150,000

1^st and 2^nd quarter of 09' combined, the number of sold properties were 3,159.

1^st and 2^nd quarter of 10' combined, the number of sold properties were 2,778.

Homes priced from $150,000 and above

1^st and 2^nd quarter of 09' combined, the number of sold properties were 868.

1^st and 2^nd quarter of 10' combined, the number of sold properties were 806.

What we can gather from this information, is that home sales have remained virtually unchanged from this year to last. The media likes to negatively portray our areas real estate market as being on a downward cycle, but the reality is that we are selling homes. The very slight decrease from last year's is most likely due to the slightly longer than normal negotiation times associated with bank owned properties and short sales.

It is certainly a great time to buy, homes are offered at huge discounts from the preceding years, interest rates continue to be at some of the lowest levels ever offered, and financial institutions are loaning money more freely again.

If you thought living in Florida was just a pipe dream, it could be your reality. If you are interested in searching for a new home take advantage of our user-friendly home search. http://www.florida-future-realty.com/real-estate-home-search or call us to speak with one of our knowledgeable agents. We look forward to helping you with your real estate needs.

Yours in Success,

The Florida Future Realty Team

Florida Real Estate Assistance, LLC

First Time and Repeat Home Buyer Tax Incentive Extension

Florida Future Realty — Thu, 08 Jul 2010 12:55:16 -0400

Congress just passed yet again another extension to the first time and repeat home buyer tax credits. The tax credits allow up to 8,000 to new home buyers and up to 6,500 to repeat home buyers. The former bill stated that a valid contract must be entered into by April 30, 2010 and closed on or before June30, 2010.

The new bill allows for a little breathing room to buyers who are involved with the arduous process of short sales and banked owned foreclosures, there are many of these properties available in today's market and are offered at a discounted rates which makes them a desirable. These types of transactions are known to take quite a bit longer than traditional real estate sales transactions to complete.

This new bill allows for all contracts entered into by April 30, 2010 can now be closed on or before September 30, 2010 and still be eligible for the tax credits. The new bill doesn't grant any new tax credits it only extends the deadline in which the transaction can be closed. Home buyers and investors that have been involved in long bank negotiations can still reap the benefits of these generous tax incentives. This extension will allow buyers the opportunity to purchase a home or investment property they may have not been able to otherwise.

If you would like more information about the first time and repeat home buyers tax incentives please follow this link : http://www.florida-future-realty.com/tax-credit-guidelines-for-new-and-repeat-cape-coral-home-buyers

If we can help in anyway please don't hesitate to call.

Yours in Success,

The Florida Future Realty Team

What is absorption rate and how does it affect Cape Coral real estate?

Florida Future Realty — Tue, 22 Jun 2010 13:07:19 -0400

Cape Coral's real estate market has been less than predictable in recent years; we have had our share of ups and downs. As real estate professionals there are ways to track the markets progress and predict the changes to come. This prediction comes in the form of absorption rate. The absorption rate is the rate in which the market absorbs and eliminates inventory. We have broken down Cape Coral price brackets and what it means to buyers and sellers.

Homes in Cape Coral with a price ranging from $0 to $150,000 have turned over 4.5 times in the past 12 months and currently, we have 2.6 months of inventory available in that specific price range.

Homes in the price range of $150,000 to $200,000 have turned over 2.3 times in the last year and the current inventory is 8.5 months.

Gulf access homes in Cape Coral at no specific price point, in the last year have turned over 1.4 times with an inventory of 8.5 months.

What do months of inventory indicate? Typically 1-4 months of inventory indicate a seller's market, 5-6 months is generally a balanced market and 7 months or more points toward a buyer's market.

How does this information specifically relate to buyers and sellers of Cape Coral real estate?

Sellers

The absorption rate is very important to know. Since it tells something about how long it might take to sell the home. A higher number of inventory typically means more competition from other sellers. A lower number may indicate that we are in a seller's market, so the need to make sure your marketing strategies are "spot on" is detrimental to a quick sale. Good marketing will insure your home will be displaying a sold sign before you neighbors.

Buyers

Buyers also need to be aware of the absorption rate. If the market is shifting into a time of low inventory, it isn't the time to be throwing out "low ball" offers hoping to get a good deal. When inventory is low and buyers have increased, chances are the buyers will be introduced to a situation where the home has multiple offers. When inventory is high your chances of getting a "steal" have increased significantly.

Buyers and sellers who pay attention to the changes in the market will be more informed and can make decisions accordingly. Most important whether buying or selling real estate in Cape Coral it is important to work with an experienced agent to help you calculate the absorption rates for the homes that you are interested in.

*This blog was written 6-22-10 all calculations are subject to change, for accurate information please call a speak with our knowledgeable team members.

Yours in Success,

The Florida Future Realty Team