Invest in Lee County Real Estate

Need a Vacation Rental in Southwest Florida? We can help!

2011-11-25T07:21:00.000-05:00

Please check out our sister site at http://www.golftogulfrentals.com/ We have rentals available in Golf Course communities throughout Southwest Florida ready for occupancy this winter starting December 1! If you don't see what you need, be sure to contact us with your requirements.

Cape Coral Gulf Access Homes

2011-10-09T12:04:00.000-04:00

Cape Coral Gulf Access Homes are a popular purchase for end users and investors right now. Cape Coral is known for its extensive Gulf Access Canals. Anyone who is a Boater at heart, would be impressed with this boating community. Besides miles of gulf access canals, the City boasts several public boat ramps. I am going to break down the Gulf Access Home market in Cape Coral, Florida. You may be surprised with these Cape Coral Market Statistics, as per the local MLS.

1. As of my last search dated 10/9/11, there are 361 homes Gulf Access homes available under $400,000. This includes only ACTIVE listings.

2. If you want a pool home on a Gulf Access canal, the number drops to 268 available homes.

3. If you want at least 3 bedrooms, a pool, and gulf access, the number drops to 256 homes available that are priced under $400,000.

4. If you would like at least a 2 car garage in addition to all of the previous features mentioned in item #3, the number drops to 235 gulf access homes available.

5. If you would like the home built after 2001, the inventory drops fast to only 49 homes available!

6. If you would like the home built after 2005, the number drops to 21 homes!

7. If you would like a Gulf Access home built after 2009 with at least 3 bedrooms, a pool, and a 2 car garage - there are only 2 homes under $400,000.

We have one of those newer homes listed. As a matter of fact, it is brand new! Built in 2011 with over 2000 sq.ft. This homes is ready for a Buyer! The home is offered at $389,900. To view this home, click on this link. By the way, there was another home built in 2011 a few homes down the street and it SOLD! That home was listed at $399,900.

If you are thinking now is the time to build on Gulf Access, you may be right! Call us today at (239) 415-6500 and ask for Megan or Jarrod Eister at Florida WestShore Realty.

Please use the links below to view all Cape Coral Gulf Access Homes for sale.
Cape Coral Gulf Access under $200K

Cape Coral Gulf Access $200K to $249K
Cape Coral Gulf Access $250K to $299K

Cape Coral Gulf Access $300K to $349K

Cape Coral Gulf Access $350K to $399K

Cape Coral Gulf Access $400K to $500K

Cape Coral Gulf Access $500K to $600K

Cape Coral Gulf Access Over $600K

Agents

2011-10-05T11:31:00.000-04:00

Florida WestShore Realty's team of REALTORS are aware of the benefits of a personal Real Estate website. In the last 90 days, several agents have launched newly designed sites that are user friendly and feature current listings and market information. Take a look at these sites and be sure to visit them often:

www.thegolfcourseexperts.com
www.daniellemeady.com
www.searchtopcapecoralhomes.com

Fort Myers and Cape Coral Real Estate- Pending and Sold transactions week ending 09/07/2011

2011-09-10T13:46:00.000-04:00

Cape Coral and Fort Myers Real Estate market had an active week of Real Estate Transactions for the week ending 9/07/2011.

It seems that once school starts in the Northern areas of the Country and Labor Day has come and gone, our Buyer interest starts to increase again. The long winter is right around the corner!

This week at Florida WestShore Realty, we noticed an increase of property inquiries and website traffic. While our August Sales numbers that are provided by the Greater Fort Myers Association of Realtors have not yet been released, I have a few predictions. I think sales numbers will be lower month over month and sale prices will show a decrease from July to August. Should we panic? No, and here is why:

1. Last month the world financial markets were on a roller coaster ride. For the first time in American history the credit rating of the United States was downgraded. There was a general feeling of insecurity in the air. However, this issue did cause some investors to move money into Real Estate. After the tech markets crashed, there was a similar reaction.

2. The summer of 2011 was the second warmest on record. Perhaps folks in the North were enjoying the pleasant summer month of August rather than thinking about their Florida Real Estate purchase.

3. There is still a general belief that there is a shadow inventory coming onto the market. Foreclosure inventory is lower and Buyers are still looking for 2008 and 2009 prices. (Good luck with that, I don't see that happening, but I don't have a crystal ball)

I predict that a decrease will be noted on the number of Sales and Sales Prices in Cape Coral/Fort Myers for the month of August. However, the Buyer interest is incredible. Buyers are looking for a reason to get off the fence.

There is no doubt that the Housing industry is still suffering throughout most parts of the Nation. The government may have to intervene again to stimulate the housing market, as they did with the First Time Home Buyer tax rebate. I wouldn't be surprised if there was some sort of incentive introduced before the next election.

Interestingly enough, Sellers are "holding tight" when it comes down to negotiations. I can think of multiple transactions in our office negotiated during the last 60 days that fell through and were less than $5,000 apart.

Here are the numbers for the week ending 9/7/11 (Data gathered through the Greater Fort Myers MLS)

Cape Coral Residential Sold            41
Cape Coral Residential Pending       91
Cape Coral Lots Sold                        15
Cape Coral Lots Pending                  16
Fort Myers Residential Sold             56
Fort Myers Residential Pending       74

For all of your Real Estate needs visit http://www.floridawestshorerealty.com/

Full Service Vacation Rental, Annual Rental, and Property Management available.

Naples Foreclosures and Naples Short Sales

2011-09-07T22:04:00.001-04:00

Naples Foreclosures and Short Sales are available now on our website at by using this link. Our users have always been able to view the latest Foreclosure and Short Sale listings throughout Lee County, including Fort Myers and Cape Coral. Recently, we have added several new agents who are ready to serve the Naples Real Estate needs at Florida WestShore Realty. If you are looking for a foreclosure or short sale in Naples, we would be happy to assist you. Our viewers can also view interactive maps and pinpoint grocery stores, banking, schools, and more that are in the vicinity of the listings. We are gearing up for a busy season. Our database has been active with potential buyers that plan on visiting this winter. Currently, inventory is low. Buyers are still looking for a deal and some Sellers are holding tight. It is not uncommon right now to lose a deal over a few thousand dollars. We will see if inventory improves in the coming months. If inventory does not improve, we will see a big change in the Lee County Real Estate market.

Market Conditions

2011-08-11T17:19:00.000-04:00

Cape Coral and Fort Myers Real Estate market conditions appear calm and cool compared to the wild ride on Wall Street. The onslaught of positive media coverage is a good sign that the Southwest Florida Real Estate market is poised for growth.

Check out the following POSITIVE news articles to learn about the current market conditions in Cape Coral and Fort Myers!

1. Lee Industry Making a Come Back!

2. Cape Coral Real Estate attracting International Investors

3. Sanibel Island Real Estate Going Strong

4. Southwest Florida Population to outpace State

Fort Myers Condos are selling! Watch this video to see what you are missing!

2011-08-07T11:28:00.000-04:00

View this video of a Fort Myers Condo in the fabulous development of Bell Tower Park! We can help you find your Fort Myers area Condo.

Fort Myers Short Sales - You can Buy and you can Sell a Short Sale!

2011-08-05T13:04:00.000-04:00

Are Fort Myers Short Sale purchases and sales possible? Of Course! Our office has participated in many purchases and sales of this type of transaction. This purpose of this article is to explain the short sale process from a local level and to help you determine if a short sale transaction is right for you, whether you are a Seller or a Buyer.

When the housing market started to crash, the amount of short sale listings were rising rapidly. In 2008, 2009, and 2010 the short sale process gradually improved. In 2011, many banks have developed a “system” to handle short sale requests. It has been reported in national and local news that short sales will be the preferred method for banks to handle distressed property.

A Seller will need to sell their home as a short sale if they owe more than what the selling price will be. If a Seller owes $200K on their mortgage, and can sell the home for $150K, there is a $50,000 shortage. The Seller is short even more funds, as there are closing costs and commissions that need to paid. Sometimes there are back taxes, HOA fees, and city fees that will need to be paid, too. A Seller should consider a short sale if one must sell their home due to financial hardship, health issues, job relocation, etc. A short sale is alternative to foreclosure. There are incentives a Seller may receive for completing a short sale. A Seller must meet certain requirements to receive incentives. Most importantly, it must be the Seller’s primary residence. Some banks offer up to $20,000 to help with relocation costs. If one qualifies for The HAFA program, they may receive $3,000 at closing. There are many different lenders and each lender has its own process and standards for the short sale process. A Seller does not need to hire a lawyer or a company to help them complete a short sale. Laws are in place that will allow REALTORS® to assist a Seller with the short sale process. Not all Real Estate agents want to service a short sale listing and some do not even know how to complete a short sale. It is important that you look for an agent who understands the process. Your first step is to find someone to help you with the process. The second step would be to determine the value of your home. This is sometimes very painful. Many Seller’s will balk at the suggested list price that their Agent recommends. Even though they are in a short sale situation, Seller’s still think their home is worth more than what it is!

What are the tips for Sellers to complete a successful Short Sale in Fort Myers?

The most important element of a short sale is Pricing. If you price the home too high, you will waste valuable time. If you price it too low, the bank will reject your offer and you wasted valuable time. Pricing is a key element of a successful short sale. Your agent will have a short sale package for you to fill out. This will include an authorization letter for you to sign that gives your agent the right to speak to your Lender(s). It will also include important financial forms. Filling out the package and returning to your agent in a timely matter is also very important! Lenders will not accept “piece” submissions. They want all the forms from the Seller and the Broker, at one time. After you have chosen an agent, priced your home correctly, filled out the proper forms, returned all forms to your agent, you are ready to market your home. Being able to show your home quickly and on short notice helps immensely. Asking for a 24 hour notice to show your home, slows the process. Buyers are not interested in begging for a showing. If they can’t get in that day, normally it goes off their list. Once you receive an offer and it is acceptable to you, the offer is submitted to the bank. The bank will require proof of funds from the Buyers. The bank will also need a HUD, and other forms. Your agent should know what to do! It can take up 6 months on average to get an approval on a short sale. If you have a good agent, you can usually cut the time significantly. An agent who only submits a file to the lender and does not follow-up regularly is wasting time.
Once you get an approval letter from your Lender, you should have your accountant or attorney review the letter. If it is acceptable to you, you are now on your way to closing the transaction. The Approval letter is a key element in the transaction. If you have questions about the short sale process, feel free to email me direct at megan.floridawestshore@gmail.com I would be glad to give you a free opinion.

Who should buy a short sale?

If a Buyer has time and is willing to take a chance, they should consider a short sale. Be prepared that you may never close on the home. However, if you are willing to wait out the process, you may make a lucrative purchase. If you hire an agent who is well versed in short sales, they should be able to zone in on the cues that the short sale is going nowhere and guide you to another home. Be sure you are pre approved or provide your agent with proof of cash to close the transaction, as this is required for the lender to consider your offer. Once you get notice that your purchase has been approved by the Seller’s lender(s), your inspection and contract obligations “kick in”. Buyers should know that they may have to wait for months for a Short Sale approval, then all of a sudden, they get the approval letter that gives them only 10 days to close! (This happens more frequently if it is a cash purchase) It is usually a rush scenario, so be prepared.
If you would like to buy or sell a short sale in the Fort Myers area, please call me, Megan Eister, at (239) 707-0926. I would be happy to help you. I have been a Broker since 1993 and I am a former mortgage banker. I would be happy to assist you with the short sale process in Fort Myers, Florida. Please check out the Fort Myers Short Sales by clicking the link below, or visit my website for other areas (Bonita Springs, Estero, Cape Coral) at www.floridawestshorerealty.com
Click Here to VIEW ALL FORT MYERS SHORT SALES

Fort Myers Beach Homes and Condos are a bargain! Is Beach Living calling you?

2011-07-07T09:33:00.000-04:00

Homes on Fort Myers Beach are a bargain. If you were ever dreaming about living on the beach or close to the beach, it may be time to make that dream a reality. At this time, Foreclosures and Short Sale inventory is limited, but available. Recently, we toured a short sale that was located directly on the beach. This home was set up as a duplex, where one could live on one floor and rent out the other or simply rent out both units. The home offered stunning views of the Gulf of Mexico. Fort Myers Beach is under going major changes! A new park is underway and many store fronts have been upgraded. This year marked a great tourist season and business owners are looking ahead to great season for 2012. If you would like to tour homes and condos on Fort Myers Beach for investment or personal use, we can help! Call Jarrod Eister at (239) 851-7303 to schedule your tour. He recently closed on an awesome condo foreclosure that was only steps to the water. He can help bring your dream of living on the beach to fruition. To start your search now, click on this link, and all Fort Myers Beach homes for sale, condos, foreclosures and short sales will be before you. Easy search site!

Fort Myers High Rise Condos at the River District Downtown Fort Myers

2011-06-18T10:36:00.001-04:00

Downtown Fort Myers Real Estate is attracting Buyers from all over the world. The High Rise Condos of Fort Myers are situated on the banks of the Caloosahatchee and offer sweeping water views during the day and city lights during the evening. If you are looking for High Rise Condos in Fort Myers, Florida we have made your search easy on our Down Town Fort Myers Condo Real Estate page. To access the latest information of the River District, to view the latest Ft. Myers Condos for sale, and to view Ft. Myers Foreclosures and Short Sales downtown, simply click here! You won't believe the values of this stunning area. We will be sure to answer any questions you have about the area or a specific listing.

Cape Coral Real Estate -Cape Coral Short Sales- Cape Coral Real Estate Market Conditions

2011-06-17T09:54:00.003-04:00

Cape Coral Inventory Levels

Cape Coral Real Estate is selling quickly. The amount of Cape Coral Homes for sale are at a low level. According to the website, Department of Numbers, here are the latest numbers in the Cape Coral, Florida Real Estate market.

"As of June 13, 2011 there were about 10,470 single family and condo homes listed for sale in Cape Coral Florida. The median asking price of these homes was approximately $210,000. Since this time last year, the inventory of homes for sale has decreased by 34.8% and the median price has increased by 11.1%.
The median asking price for homes in Cape Coral peaked in April 2006 at $406,348 and is now $193,898 (47.7%) lower. From a low of $172,500 in October 2010, the median asking price in Cape Coral has increased by $39,950 (23.2%).

Housing inventory in Cape Coral, which is typically highest in the spring/summer and lowest in the fall/winter, peaked at 22,335 in February 2008. The lowest housing inventory level seen was 10,525 in June 2011." Source- Department of Numbers

Wow! June 2011 offers the lowest inventory levels, since at least April of 2006. One of the biggest issues I have noticed, is the false perception Buyers have of Cape Coral Short Sale Listings. This gives the Buyers a sense that there are more homes available than there really is. Most Real Estate websites will feature Active, Active Contingent, and Active Contingent Short Sale listings. Usually, the sites will exclude Pending listings, as they are not "for sale."

The problem is the Short Sale listings labeled Active Contingent and Active Contingent Short Sale are basically UNDER CONTRACT. In almost every sense of the word, the listings are UNAVAILABLE. If they are available, your contract will not be in first position. There is a contract on the property.

The rules of our local MLS basically state that if the Seller has accepted a contract and will continue to take back up offers and show the home, the status of the Listing may be Active Contingent or Active Contingent Short Sale. However, if the Seller will not take a back up offer and/or show the home, the property should be labeled the status of PENDING.

Many times, we get inquiries on Active Contingent Listings. We call the Listing Agent to set an appointment for a showing and the answer is "it is under contract and there are no showings."

In Cape Coral alone, there are 225 Active Short Sale Listings. However, there are 731 Active Contingent or Active Contingent Short Sales in the MLS. I venture to guess 90% are actually PENDING, according to the guidelines of our Local MLS. In Lee County, there are 2044 short sale listings labeled Active Contingent or Active Contingent Short Sale!

The bottom line, I would suggest when you are searching on any website, look at the Status of the Listing. If you see the word Contingent following the word Active, move on to another Listing.

If you would like to view Homes for Sale in Cape Coral, Fl -visit our website at http://www.floridawestshorerealty.com/ . Always call (239) 415-6500 to schedule your home tours. We have agents standing by, and short notice is OK.

Thinking of Investing in Lee County, Florida? Be Ready to Compete with other Investors

2011-05-28T10:29:00.001-04:00

According to National Survey by Move.Com, investors are poised to dominate the Real Estate market during the next two years. Here are some quick facts that were mentioned in the report:

1. Investors are expected to outnumber traditional home buyers three to one during the next 2 years

2. Almost two-thirds of investors say they expect the financing road blocks first-time buyers contend with will work in their favor in competing for properties

3. One in five investors say they plan to purchase properties using cash-only

4. 80.5% expect discounts on properties from sellers, if they pay cash

5. 43.5% of investors expect it to get more difficult to find housing bargains in the coming months.

6. 22% expect prices to rise in the next six to 12 months

7. 53% expect prices to stay relatively flat.

8. Half of the real estate investors surveyed say they plan to hold their properties for five years or more.

9. 11 percent expect to sell within 12 months of buying it.

10. Nearly 50% of the investors surveyed expect a profit of 20% or more from their investment,

11. 40% of investors expect a profit of 10% from their investment

12. 6.5% of investors expect a 5% or less from their investment

13. About 56% of investors plan to turn their investments into rental properties.

14. 28% plan to purchase a vacation property

15. 30% reported an interest in buying retirement property as an investment.

16. A whopping 60% of investors say they're new to real estate investing.

17. About 33% are considering their first investment purchase

18 Of the surveyed, 36.5% had experience in more than one property transaction.

19. Nearly 67.5% are investing for the long term.

20. 75.5% of investors plan to combine cash and credit to purchase properties to build their real estate portfolio.

In Lee County, investors are also ready to gobble up real estate investments. However, the biggest issue investors are having to deal with is simply the inventory. Check out these statistics published by the Florida Gulf Coast Multiple Listing Service. Guess what Lee County city had the lowest housing supply rate as of 4/30/11? Would you have guessed Lehigh Acres? Lehigh Acres had the lowest single family housing supply rate at .6!

If you are following the Fort Myers Real Estate market or Cape Coral Real Estate market, you are aware of the price increase in the area. My last Blog post on http://www.capecoralfortmyersrealestate.com/ stated that the area price increase could be a result of the banks controlling the inventory. Currently, in Lee County, banks own more REO property then ever. For the first time in awhile, traditional sales beat out distressed sales in the area. Again, I think that is due to the banks holding on to their inventory of REO's.

I do not believe that releasing the inventory will drop values significantly. Based on the investor demand and snow bird demand I think values should be relatively stable. For every distressed home on the market, there are dozens of Buyers trying to win the bid. I think Lee County will offer incredible Buying opportunities this summer. If you are an investor or simply looking to buy a retirement home, allow our team of agents to guide you through the process. View our Foreclosure Page on our company web site to view Fort Myers Foreclosures and Cape Coral Foreclosures. Call us at (239) 415-6500 to set up your property tour today!

Cape Coral Fort Myers Real Estate on Upward Trend

2011-05-06T15:28:00.000-04:00

Recently, Realtor.com has identified areas throughout the nation that are poised for appreciation. Cape Coral/Fort Myers area ranks third in the nation for potential appreciation. It ranked the highest in the nation for rise in Listing Prices. Listing Prices are up over 24% for March 2011. However, the site commented that prices are still 60% below the peak in 2006. To read the full article click here.

Do we expect prices to rise 60% in the near future? I certainly do not. However, I do believe that there are certain aspects of our market that are extremely undervalued. Land is undervalued throughout Lee County. Land is poised for future appreciation.

Last week we were able to help a Buyer submit a Purchase Agreement on a 2315 square foot condo that is in a gated community and offers many resort style amenities. The price was under $62 per square foot. Our office also closed on home in Cape Coral for $49,900.

Did you miss the bottom? I believe so, but we are no where near the top. NOW is a good time to buy!
Did you know today interest rates were at the lowest level of 2011? The average rate on a 30 year fixed loan is only 4.71% What are you waiting for?

Is it that you can't be here full time? However, do you think it is a good time to buy? We offer Property Management services for the Snow Bird and Investor. We may be able to help you turn your Florida Dream Home into an investment property, until you are ready to enjoy the property.

Please check out our Foreclosures and Short Sales by visiting our web site http://www.floridawestshorerealty.com/ . Perform a "quick search" for the area of your choice and check either foreclosure or short sale. Only choose one! If you choose both you will not get a result. We can help you purchase your foreclosure or short sale in Cape Coral, Fort Myers, Bonita Springs, Estero, or Sanibel Island. Call (239) 415-6500 to set your showing appointment today. Agents are standing by!

REALTOR® Magazine-Daily News-Buyers Bypass 'Fixer-Upper,' Want Move-in Ready

2011-05-04T08:50:00.000-04:00

REALTOR® Magazine-Daily News-Buyers Bypass 'Fixer-Upper,' Want Move-in Ready

Cape Coral Land is a BARGAIN!

2011-05-01T12:12:00.000-04:00

Typical Gulf Access Lot

Traveling by air to Fort Myers was in full force this March. Southwest Florida International Airport reported the second highest passenger count in its entire history during March, 2011. High passenger counts is great for our local economy.

When flying the friendly skies, my favorite decent is into Southwest Florida International Airport. Typically, the aircraft offers stunning views of the tropical oasis that I call home. In my opinion, the most intriguing view of all is the landscape of Cape Coral.

Seeing the city of Cape Coral by air is impressive. A bird's eye view offers the stunning sight of miles and miles of glistening canals that are carved throughout the entire city. 222 miles of Gulf Access Canals and 156 miles of "Fresh Water" canals is a feature that no other city in the United States can boast.

In previous blog posts, I have stated that Cape Coral Land is undervalued and should show future appreciation. In the past, waterfront land appreciated at a faster rate than "dry" land. I still believe that Cape Coral land is undervalued and land is a good bargain.

This past week, Major General Keith Thurgood visited Cape Coral again as the United States Army Reserves plans to build a training center in the North East section of Cape Coral. The News-Press reported about the visit. You can read about the visit by clicking here. The prospect is an exciting development to the economy of Cape Coral. What caught my eye about the story is that Maj. Gen. Thurgood was quoted "I need to come back and buy some land. This is a great little city". That is what I have been saying all along!

You can search all Cape Coral lots for sale, including Gulf Access Lots, by clicking this link. Call Jarrod or Megan Eister of Florida WestShore Realty (239) 415-6500 to buy your little piece of this unique city.

Cape Coral Gulf Access Homes & Foreclosures

2011-04-30T10:31:00.000-04:00

The NEWS-PRESS published an article today that gives the current market conditions of Gulf Access Homes in Cape Coral Florida. According to the article, inventory under $250K is hard to come by. Many buyers looking for Gulf Access homes in Cape Coral, would be surprised to learn that there are only 35 Active Gulf Access Home Listings with a Pool in all of Cape Coral. These homes feature at least 3 bedrooms, 2 baths, and a 2 car garage.

In my past experience, Gulf Access Homes and Land, have appreciated the most in Cape Coral over time. Cape Coral offers an abundance amount of Gulf Access Canals. Boaters enjoy the convenience of having their own "personal marina" in the comfort of their back yard. One appreciates the ability to be on the water within minutes, versus trailering a boat or driving to a marina.

We can also offer you BRAND NEW Gulf Access homes from $299K to $429K, depending on the location of the land, in Cape Coral, Florida. We have an awesome home being built now, in the Southwest Cape Coral. This home is on a pristine canal in a great location! Granite Kitchen, Tile Roof, and resort style pool with screened lanai! Call Jarrod Eister for exact details at (239) 851-7303.

If you are searching for a Gulf Access Home in Southwest Florida, check out Cape Coral, Florida! You can view the latest Cape Coral listings by searching our web site at http://www.floridawestshorerealty.com/. We also feature some gulf access homes on this blog, you can view them by scrolling down.

Please call us today at (239) 415-6500 to schedule your tour of Cape Coral Gulf Access Homes.

Florida Leading Nation in the Potential to Grow Jobs

2011-04-15T13:33:00.000-04:00

Wondering about the job situation in Florida? Read this great article by clicking the link below.
http://www.miamiherald.com/2011/04/13/2165173/despite-battered-economy-florida.html

Million Dollar Listings are in Lee County Florida, and they are Selling.

2011-04-02T12:34:00.001-04:00

The show "Million Dollar Listing" is a popular reality TV show based in California. It is a fun show to watch and you learn quite a bit about the Luxury Buyer. For one, Luxury Buyers are like most buyers in the sense they do not want to over pay. For many months, it seemed million dollar listings in Lee County were simply that... a Listing. A listing that would not translate into a sale. However, lately the market for Luxury Homes in Bonita Springs, Cape Coral, Fort Myers, and Sanibel has shown a significant rise in activity.

For the week ending March 17th, 2011 there were two million dollar listings that sold and a third also sold just shy of the million dollar mark. One home was in the gorgeous community of Quail West in Bonita Springs and sold for $1.78 million. The Second home sold in Bonita Beach for $1.75 million and the third home sold on Sanibel for $995K.

During the first quarter of 2010, there were 17 million dollar listings that closed, according to our MLS. Interestingly enough 2009 offered 17 sales for the first quarter, too. Comparatively, there have been 39 sales for the same time period in 2011.

Luxury Foreclosures and Short Sales offer a good buying opportunity. However, there are some homes that are not a foreclosure or short sale, simply a good buy. If you would like to view Luxury Homes in Lee County, simply send us your "wish list" at info@floridawestshorerealty.com or call (239) 415-6500 and ask for Jarrod or Megan Eister.

Visit our website at http://www.floridawestshorerealty.com/ to search Million Dollar Listings at your convenience.

Watch this Video! Cape Coral Gulf Access Home-WE HAVE MORE!

2011-03-27T15:07:00.001-04:00

Great Gulf Access Home for sale in the Southwest area of Cape Coral, we can show you others!

Southwest Florida Airport Ranked Number 2 in the Nation

2011-03-15T14:51:00.000-04:00

More good news about the Southwest Florida area was Published in the USA TODAY. Southwest Florida International ranked No. 2 among small airports in J.D. Power and Associates' 2010 North America Airport Satisfaction Study.

When a prospective buyer asks me to compare the areas of Naples and Fort Myers, the distance to the airport is an item I frequently bring to the table for consideration. The short distance to the airport is an advantage and a important factor when comparing the two areas. Snowbirds and Internationals who travel between homes elsewhere and their homes in Lee County, appreciate the convenience that the Southwest Florida International Airport offers. Also, many residents receive plenty of visitors from the North and make frequent trips to the airport to pick up relatives and guests. Distance to the airport can be a factor to consider when choosing where to reside.

Residents and visitors of Lee County have always appreciated the convenience of Southwest Florida International Airport. Hopefully, more businesses will consider our area for future development due to this important survey. If you are considering homes in Southwest Florida, begin your search on our web site, http://www.floridawestshorerealty.com/ or call (239) 415-6500 to speak to a Real Estate Agent.

Fort Myers Foreclosures continue to shrink

2011-03-13T14:50:00.000-04:00

Call for all of Your Real Estate needs. (239) 415-6500

Real Estate agents in the trenches have known for awhile. The competition to buy a Foreclosure Listing has always been aggressive. Lately, it has been simply fierce.   Last week, an agent in my office bid $25,000 over list price on a foreclosure, and still lost the bid.   Cape Coral and Fort Myers area Real Estate agents know the foreclosure inventory is shrinking.

The question is: for how long?

As Published in the Fort Myers News-Press,  County Clerk of Court Charlie Green “We’re just plain running out of inventory” of properties remaining that have delinquent mortgages. Only about 11,000 foreclosure cases remain in the system.

The foreclosure halt that took place in the fall, due to "Robo Signing", has significantly changed the foreclosure market.

To make matters even worse, the largest Foreclosure Law Firm in Florida formally notified the courts that he had been fired by the Lenders he represented and withdrew from the proceedings. Thousands and Thousands of Foreclosure Cases have been sent to limbo land in Lee County, Florida.

One interesting development, the United States Government is demanding that some of the major Lenders are held accountable for their handling of foreclosure cases. The Huffington Post reported that federal regulators could demand as much as $30 billion in penalties from the 14 largest mortgage firms.   Part of the negotiations include guidelines about how the Lenders should handle loan modifications. The process is underway and may take 2-3 months. I predict we will have a very lean foreclosure inventory, until a settlement is reached.

I do not predict a significant sales price drop if a settlement is reached and the foreclosure flood gates open. In the past, the Banks have been careful to control the inventory. The demand for homes and condos in the area is very high. Besides hungry snow birds, investor interest is ramping up from all over the world.

In the meanwhile, you can search available Fort Myers foreclosures and Cape Coral foreclosures by visiting our foreclosure listing page on our web site. As always, you can call (239) 415-6500 to set up a showing on any property in Lee County, Florida.

For Sale by Owner? Not so good...

2011-02-10T12:35:00.000-05:00

It is not a secret that Real Estate market conditions are challenging. Conditions are so tough, that many Real Estate agents have left the business in the past few years. Even the population of Florida Mortgage Brokers has decreased. Being a Real Estate Broker, was recently listed as one of the most stressful occupations. Selling your home without the assistance of an experienced Real Estate agent can be a big mistake.

One of the most common mistakes a "For Sale By Owner" makes is a unrealistic price expectation. Sellers with an over priced home are either waiting for the market to appreciate or waiting on themselves to lower their price. It is very unlikely that the Sellers will get lucky and the Buyers will over pay. My husband and I have been in the Real Estate business, since the early 1990's and have dealt with customers who decide to "drive around and check out the For Sale By Owners". We gladly give our blessing and encourage them to do so. They usually come right back to us with a list of complaints and the number one complaint is the price.

Besides setting the most effective price point, a Seller who is "going it alone", has many other road blocks to a successful closing. Finding a ready and willing buyer in 2007 was very difficult in our area. Buyers were afraid the market was sliding, and it was. In 2011, the "fear factor" is all but gone in Lee County, and finding a ready and willing buyer is much easier. However, not all Buyers are ABLE to buy. A person selling their home needs to be keen on current lending guidelines. Any experienced Real Estate agent can tell you, that transactions that require a loan can be difficult. A good Realtor knows the road blocks that exist when a Loan is a requirement for purchase.

A Seller who is selling their home "For Sale By Owner" may not be aware of some common schemes. The latest schemes are listed below:

Buyers who "won the lotto"- but really didn't.
Buyers who are from overseas that are going to buy a half a million dollar home site unseen- but never does.
The couple that goes through the Seller's cabinets- to steal medication.

Real Estate Agents, Loan Officers, and Title Agents will warn each other of corrupt situations. Another good reason to use an experienced Real Estate Agent.

Frequently, a Seller is in need of a Short Sale, and the help of a knowledgeable Real Estate agent is practically a requirement. Most Banks that entertain a Short Sale request will require that the home be listed on the open market. It is almost impossible to short sale your home, without the assistance of a Real Estate agent.

The demise of the "Buy Owner" franchise, is not surprising, if you are in the Real Estate market everyday. BuyOwner.com, once considered the nation’s largest "For Sale by Owner" company, recently sold for $1 million. The company faced a sharp decrease in revenue--from more than $28 million to less than $250,000 in July 2010. The sale was a result of a Chapter 7 Bankruptcy proceeding. Evidently, successfully selling a home, takes more then putting the home in the Multiple Listing Service and placing a sign in the yard.

If you are looking to sell your home, do yourself a favor and hire an experienced Real Estate agent. As a Broker/Owner, there are many duties. By far, my favorite duty is helping our Sellers. (Buyers are a close tie!) Marketing is one way Sellers can get the maximum price for their homes. We market on the web and print advertisements. Our Web Site reaches Buyers from all over the world. We had over 1.5 million hits last year, alone. Our Listing experience and services will shorten the time our Sellers' homes are on the market. If you need to sell your home, please call me (Megan Eister) at (239) 415-6500 or email at megan.floridawestshore@gmail.com I will be sure that your home gets the attention it deserves! My team of Real Estate agents are mostly Broker Associates and know how to get the job done. Contact US!

Source: “BuyOwner.com Sold for $1 Million to Pay Creditors; Company Revenues Fall Sharply After 2008,” Associated Press Newswires (Feb. 8, 2011)

National Exposure for the Fort Myers Real Estate market coming soon!

2011-01-18T18:53:00.001-05:00

Recently, the Home and Garden Network Television show "House Hunters" finished filming in Fort Myers, Florida. According to the NEWS-PRESS, the couple featured in the popular show are searching for a winter escape. The exact locations of the properties featured on the show have not been disclosed, but I have a pretty good guess. I believe that the show will feature some Condos close to the beaches of Fort Myers and Sanibel Island in southern Fort Myers. There were some "hints" in the article that allowed me arrive at my conclusion.

1. The couple wanted to spend less than $200,000
2. The couple is looking for a second home, condos make excellent second homes!
3. The couple wanted to be near the beach. Southern Fort Myers is close to the beaches.
4. They wanted a home in move in ready condition with a pool in their price range. The average sales price for zip codes 33919 and 33908, which are located in Southern Fort Myers, is $325,000. Far above the $200,000 price point. (The average sale price quoted is for single family homes with at least 3 bedrooms and a private pool) Don't get me wrong, you can find a single family pool home for less than $200K in southern Fort Myers. As of today, there is a pool home in Tanglewood for sale for $155K. I am quoting the AVERAGE SALE PRICE.

I could be all wrong, but it is fun to guess! One thing I do know, is that many of the 120 million viewers are going to fall in love with Fort Myers Real Estate. Our offices are located in SOUTHERN FORT MYERS and Cape Coral. If you are looking for a winter escape, a condo in Fort Myers could be the answer. Below are condos for sale in Fishermans Cove, which is located in southern Fort Myers. This development is one of the many that are near the beaches of Fort Myers and Sanibel Island. Call us today to schedule your showing of Fort Myers Condos that are close to the beaches. (239) 415-6500 or email megan.floridawestshore@gmail.com to schedule your tour. We would love to play the "House Hunter" game with you!

Cape Coral Gulf Access- Unrestricted

2011-01-05T14:33:00.017-05:00

Unrestricted Gulf Access Canals in the Southwest section of Cape Coral offer a desirable boating location. For one, you can leisurely stroll down the canal to dining and shopping establishments of Cape Harbour and Tarpon Point. On the map below, we highlighted the canals in the Southwest section that will allow for unrestricted access to the Gulf. Sailboats are welcome! Homes vary in the area. You can buy a luxury estate home on these canals. It also not uncommon to see a typical 3/2 Cape Coral home with a big yacht on these unrestricted canals. There are no LOCKS, no LIFTS, and no BRIDGES. If you are looking for homes in the Southwest Cape that offer unrestricted gulf access, contact us for a list of homes. We know the gulf access canals in Cape Coral and can help you find a home that meets your boating requirements. We can map canals for you throughout the city of Cape Coral that offer unrestricted access, including the popular Yacht Club area. Check out some of the homes that offer unrestricted access in the Southwest Cape....Contact us for the COMPLETE list. Schedule you showings today, call (239) 415-6500 and ask for Megan.

View Cape Coral Canal Map- Southwest in a larger map

Take advantage of Low Interest Rates, Tight credit, and Low Puchase Prices-Become a Landlord

2010-12-31T09:40:00.000-05:00

What I love the most about Real Estate, is that in any market, you can make money. As soon as our market crashed, several investors/builders settled in our area and begun the acquisition of distressed property. Many of the acquired properties were "flipped". They were fixed up and sold in a short period of time. I believe that this group of buyers, the buyers who flip, are providing a valuable service to our community. First of all, they are making our neighborhoods better by fixing up the distressed home. The home that had weeds for a yard and chipped paint is gone and now a home that looks brand new is shining in the neighborhood.

What demographics are buying "Flipped" Homes? First time home buyers, usually can not afford to make costly repairs and are usually looking for a home that is move in ready. An investor owned home for sale is a good choice for the first time home buyer.

Other potential buyers of flipped property are second home buyers from out of the area. Second home buyers usually are reluctant to purchase a home that is need of repairs. Orchestrating the repairs from far away seems like a daunting task.

Lastly, investors buy investor owned homes. Why? To Rent! A home that is in move in condition is ready to rent. The rental market is strong right now. There are many locals being displaced and they have credit conditions that do not allow them to purchase a home. They need a rental, and are looking for a home that is in good shape. Our investors renting homes in Cape Coral are making 7 to 8% (NET).

If you are looking to buy a home, flip a home, or rent a home in Cape Coral, Fort Myers, Bonita, Estero, or Sanibel...give us a call at (239) 415-6500. You can search all Lee County Real Estate at http://www.floridawestshorerealty.com/