Monday, July 31, 2006
AUCTIONS
The Great South Florida Real Estate Auction was held at the Broward County Convention Center recently.
Potential buyers hoping for bargains at the auction left disappointed, as the properties sold for expected "market prices," according to attendees. In Florida and throughout the nation, residential home auctions are becoming more popular
with sellers adjusting to a changing housing market.
Potential homebuyers hear the word auction and think "steals." Many are left disappointed. The beginning bids, which some considered high, immediately forced the properties out of many attendees' budgets.
Potential buyers hoping for bargains at the auction left disappointed, as the properties sold for expected "market prices," according to attendees. In Florida and throughout the nation, residential home auctions are becoming more popular
with sellers adjusting to a changing housing market.
Potential homebuyers hear the word auction and think "steals." Many are left disappointed. The beginning bids, which some considered high, immediately forced the properties out of many attendees' budgets.
Tuesday, July 25, 2006
Virtual Appraisal-Good or Bad
Homeowners can log into a number of online home-value estimator sites on the internet, but how accurate are they?
With the fast appreciation of real estate in the past four years, homeowners are turning to free or nominally priced online tools that spit out a probable home value. That's mainly because many hownowners have come to see their property's price as a kind of stock, giving them equity thay might use to buy a nicer place, get a second mortgage to pay for repairs, or just to feel rich.
A recent test of the process and five estimates-four from online sites, and one from a professional appraiser who inspected the home in person- the value was from anywhere between $291000 to $375000! This was a $84000, or 29% spread!
Other than using a professional appraiser, using a real estate agent to do a comparative market study is the next best accurate method to learn about your homes value. Many of the on-line sites rely on their data base of information, which may not be inclusive of recent sales. In either a fast moving market, as in the past, or a more normal market today, it is important to take into consideration the demand from the buyers. After all, in the final assessment, the buyer sets the selling price.
With the fast appreciation of real estate in the past four years, homeowners are turning to free or nominally priced online tools that spit out a probable home value. That's mainly because many hownowners have come to see their property's price as a kind of stock, giving them equity thay might use to buy a nicer place, get a second mortgage to pay for repairs, or just to feel rich.
A recent test of the process and five estimates-four from online sites, and one from a professional appraiser who inspected the home in person- the value was from anywhere between $291000 to $375000! This was a $84000, or 29% spread!
Other than using a professional appraiser, using a real estate agent to do a comparative market study is the next best accurate method to learn about your homes value. Many of the on-line sites rely on their data base of information, which may not be inclusive of recent sales. In either a fast moving market, as in the past, or a more normal market today, it is important to take into consideration the demand from the buyers. After all, in the final assessment, the buyer sets the selling price.
Wednesday, July 12, 2006
Row Houses in Cape Coral
Before they were called town homes, a catchy term used to sell to a new generation of home buyers, they were known as row homes.
Cape Coral officials just might bring the row-home concept back, no matter what it is called.
They would be targeted to workers who don't have the income to buy homes in the Cape's pricey real estate market, but who do make a valuable contribution to the community.
Cape Coral would like to change the affordability of some housing by changing the zoning in appropriate areas to row house. This would allow the teachers, police officers, nurses and others to afford to live there. One way to lower the costs is to allow more homes to be built on remaining available land.
Cape Coral officials just might bring the row-home concept back, no matter what it is called.
They would be targeted to workers who don't have the income to buy homes in the Cape's pricey real estate market, but who do make a valuable contribution to the community.
Cape Coral would like to change the affordability of some housing by changing the zoning in appropriate areas to row house. This would allow the teachers, police officers, nurses and others to afford to live there. One way to lower the costs is to allow more homes to be built on remaining available land.
Tuesday, July 11, 2006
Termite Inspection Changes
TALLAHASSEE, Fla. -- July 7, 2006 -- Under Florida's new pest control rules, home shoppers told that a property was "treated for termites" also will find out if that applies to the whole home or whether the seller simply spot-treated the trouble spots. The rules also upgrade consumer protections within pest control contracts.
Florida Agriculture and Consumer Services Commissioner Charles H. Bronson announced yesterday that the new rules are now in effect, though pest control companies have a one-year grace period to upgrade their contract language.
If a company does perform only a spot treatment on a home, it must post that information on treatment stickers in the structure. "This is especially important for homebuyers," Bronson says. "Buyers of existing homes may be told that a house has been treated before they buy it, but not informed the treatment was only to a limited part of the building. Now they will know if the treatment was full or partial."
Other consumer protections now in place include:
• All contracts issued by pest control companies for termite control must tell consumers if the contract covers subterranean termites, drywood termites or both. If the agreement doesn't cover Formosan termites, an aggressive form of subterranean termite, the company has to clearly state that fact in the contract.
"The average homeowner may not understand that there are differences in the types of termites that can invade their homes as well as differences in the kinds of protections that address each insect," says Bronson. "We have found that many people do not realize they are not protected against one or the other until their home is damaged and it is too late."
• Pest control companies must retreat infestations covered by a contract within ninety days (180 days for multiunit structures). Previously, there was no time limit.
• Companies may no longer deny re-treatment or repairs if they're aware of a construction defect or other condition conducive to termite infestation, such as a water leak, and do not give the owner a chance to repair it.
Nearly all termite contracts include language that limits the company's obligation to repair a home infested with termites if something about the home is "conducive" to termite infestation, such as a water leak. But now, a company that performs yearly inspections to keep the contract effective may no longer turn a blind eye to a structural problem that attracts termites, and then years later deny repairs based on that problem if they didn't mention it to the homeowner.
Florida Agriculture and Consumer Services Commissioner Charles H. Bronson announced yesterday that the new rules are now in effect, though pest control companies have a one-year grace period to upgrade their contract language.
If a company does perform only a spot treatment on a home, it must post that information on treatment stickers in the structure. "This is especially important for homebuyers," Bronson says. "Buyers of existing homes may be told that a house has been treated before they buy it, but not informed the treatment was only to a limited part of the building. Now they will know if the treatment was full or partial."
Other consumer protections now in place include:
• All contracts issued by pest control companies for termite control must tell consumers if the contract covers subterranean termites, drywood termites or both. If the agreement doesn't cover Formosan termites, an aggressive form of subterranean termite, the company has to clearly state that fact in the contract.
"The average homeowner may not understand that there are differences in the types of termites that can invade their homes as well as differences in the kinds of protections that address each insect," says Bronson. "We have found that many people do not realize they are not protected against one or the other until their home is damaged and it is too late."
• Pest control companies must retreat infestations covered by a contract within ninety days (180 days for multiunit structures). Previously, there was no time limit.
• Companies may no longer deny re-treatment or repairs if they're aware of a construction defect or other condition conducive to termite infestation, such as a water leak, and do not give the owner a chance to repair it.
Nearly all termite contracts include language that limits the company's obligation to repair a home infested with termites if something about the home is "conducive" to termite infestation, such as a water leak. But now, a company that performs yearly inspections to keep the contract effective may no longer turn a blind eye to a structural problem that attracts termites, and then years later deny repairs based on that problem if they didn't mention it to the homeowner.
New Construction Project in Ft Myers
Windsor East Condominiums is a rental converson that is conveniently located in Fort Myers with easy access to US 41, I-75 and the bus line, and only minutes from downtown, major universities and hospitals, entertainment and shopping. Residents enjoy a peaceful backyard setting with lush landscaping, inviting community pool, BBQ and picnic area. This community offers flexibility with 3 spacious floor plans featuring 1 bedroom/1 bath flats, 2 bedroom/1 bath flats and 2 bedroom/1.5 bath townhomes.
Priced from $119,000-$185,000, the condominiums will be available in the 3rd qtr. of 2006 and has affordable maintenance fees. Give me a call for more information.
Priced from $119,000-$185,000, the condominiums will be available in the 3rd qtr. of 2006 and has affordable maintenance fees. Give me a call for more information.
Marco Island Radisson Closing
A hotel with 20 years of history is shutting its doors for the last time. The Radisson on Marco Island is closing to make way for timeshare condos. The Marriot Vacation Club is buying the Radisson and 270 rooms will be converted to condos.
The Radisson is just one of a number of hotels that are converting into condos. Some other hotels making the conversion include The Grande Inn, The Staybridge Suites, and The Inn at Pelican Bay. It is expected that this trend will continue because hotel converson is profitable for developers.
The Radisson is just one of a number of hotels that are converting into condos. Some other hotels making the conversion include The Grande Inn, The Staybridge Suites, and The Inn at Pelican Bay. It is expected that this trend will continue because hotel converson is profitable for developers.
Thursday, July 06, 2006
Sanibel begins restoration of Periwinkle Way
LEE COUNTY: Hurricane Charley destroyed many of the trees on Sanibel Island, including the Australian pines that lined Periwinkle Way, providing a canopy for the road. The city has finally started replacing the non-native pines with native trees to try to restore the look of Periwinkle Way.
Thousands of flags line Periwinkle Way. They mark where the new trees will be planted.
There are seven different types of trees that will be planted along the road including:
Wild Tamarind
Live Oak
Silver Buttonwood
Gumbo Limbo
Strangler Fig
Mastic
Jamaican Dogwood
All of the trees are drought tolerant.
Thousands of flags line Periwinkle Way. They mark where the new trees will be planted.
There are seven different types of trees that will be planted along the road including:
Wild Tamarind
Live Oak
Silver Buttonwood
Gumbo Limbo
Strangler Fig
Mastic
Jamaican Dogwood
All of the trees are drought tolerant.
Survey of Home Buyers
A national survey found the following:
* 4 out of 10 are unwilling to buy a home smaller than they want.
* 4 out of 10 are unwilling to buy a home that needs major work.
* 46% are unwilling to buy farther from work.
* 70% are unwilling to move into a less desirable neighborhood.
* 97% of homeowners would never go back to renting.
* 75% believe the value of their home will go up in 2006.
* 78% of renters believe they cannot purchase a home without perfect credit.
* 77% said purchasing a home was the best investment they ever made.
* 4 out of 10 are unwilling to buy a home smaller than they want.
* 4 out of 10 are unwilling to buy a home that needs major work.
* 46% are unwilling to buy farther from work.
* 70% are unwilling to move into a less desirable neighborhood.
* 97% of homeowners would never go back to renting.
* 75% believe the value of their home will go up in 2006.
* 78% of renters believe they cannot purchase a home without perfect credit.
* 77% said purchasing a home was the best investment they ever made.
Bonita Bay Club
Membership in Bonita Bay Club allows you to play three Arthur Hill-designed courses, right in your own backyard...plus two Tom-Fazio courses in a pure golf setting. That is 5 courses-more than any other community in Southwest Florida- for one membership fee that is lower than many communities with only one or two courses.
Travel + Leasure Golf ranked Bonita Bay Club among it's top 100 golf communities in American, and Golf Mangazine Living named it one of the best 50. To find out for yourself, give me a call so I can arrange for a free round of golf.
Travel + Leasure Golf ranked Bonita Bay Club among it's top 100 golf communities in American, and Golf Mangazine Living named it one of the best 50. To find out for yourself, give me a call so I can arrange for a free round of golf.
Insurance Report
In the insurance industry there is what is called a C.L.U.E. REPORT, which is like a credit report for your finances. When you shop for insurance your agent will get a C.L.U.E Report on your car, home, cabin, and other insured property. The report will show them how many claims have been filed on the property and give them an idea of the amount of risk they would take. Of course, if there are a lot of claims, it will affect your rate quoted.
You can get a C.L.U.E. Report once per year yourself just like a credit report. Go to www.choicetrust.com. Additional reports are $19.95. If you are buying a home, you can pay for a report on the property. It will tell you if there are claims on water damage, mold, hurricane damage, fire, etc. If you are selling and have a clean report, this can be an advantage in price negotation.
You can get a C.L.U.E. Report once per year yourself just like a credit report. Go to www.choicetrust.com. Additional reports are $19.95. If you are buying a home, you can pay for a report on the property. It will tell you if there are claims on water damage, mold, hurricane damage, fire, etc. If you are selling and have a clean report, this can be an advantage in price negotation.
