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CITY OF CAPE CORAL 2006 ANNUAL REPORT
(Available March 2007) FAST FACTS:
Population 163,127 (a 9% increase over 2005 Annual
Rpt.)
Median Age 44 (no change from 2005 AR)
Median Income $51,344 (4% increase over 2005 AR)
South West Florida...
"Very Affordable and Stunningly
Beautiful"
...Come see what everyone
is
talking about and stay in one of
our Beautiful Vacation Rentals
Tread
Carefully When Making a Low-Ball Offer
These days, it’s easier to make a low-ball
offer than it used to be, but still it’s important to be smart. Here are
some things that a real estate practitioner and would-be buyer should consider
when contemplating such an offer:
● Use
foreclosures as comps carefully. Look
realistically at the prices foreclosures in the neighborhood brought.
Foreclosures aren’t good comps if the homes were stripped of appliances,
pipes, HVAC, etc.
●
Examine details of short sales critically.
How many liens were there against low-selling short sales? If there were no
secondary liens, the lender had considerable flexibility.
●
Establish realistic time frames. Even
in the best of circumstances, foreclosure takes a long time. Will the seller
play the waiting game? How long have houses whose owners have equity stayed on
the market? Is the buyer in a hurry?
If your buyer makes a low-ball offer, the bank
probably won’t be in any rush to take it. They’ll likely just keep
soliciting offers without coming back with a counter. Ultimately, the property
is likely to sell for a higher price and, chances are, you and your buyer
won’t know it until the deal is done.
Source: ThinkGlinck, Ilyce R. Glink (03/30/2009)
GROW SMART
Florida will continue to grow, but without adequate planning, what will the
state look like? Be part of the solution and discuss new urbanism in Florida with hands-on examples currently
under development.
Go to: http://www.floridarealtors.org/LegislativeCenter/SmartGrowth
and download the full PDF brochure. Still have questions? Call FAR's Office of
Public Policy in Tallahassee at (850) 224-1400.
SPECIAL NOTICE(S)
For More information go to "Real Estate News" on
the Side-bar to the right.
BARGAIN
HUNTING?
Buyers and sellers are
waiting for the other to blink: The housing slowdown isn't giving
buyers the big bargains that they might have hoped; and where
there are discounts, buyers aren't leaping to grab them, says Karl
E. Case, an economics professor at Wellesley College, who
specializes in real estate. Case says the most recent survey he
and a colleague conducted among homebuyers revealed growing
pessimism about buying in a down market. "They're scared
they're going to buy something very expensive that's going to fall
in value," he says. Sellers, meanwhile, are being
"stubborn. They seem to be holding out so far."
The result: "People are staring each other down." Case
described home prices as having "downward stickiness,"
meaning they don't fall nearly as much as they rise during the
strong periods. In previous down periods, Case points out, the
economy has been in a general slump. This time, in most
parts of the country, the economy is growing and adding jobs. Case
concludes the housing market is in "that flat period, of four
to six quarters, where prices don't plummet. They hold
on."
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TIME
TO CLOSE [THE] DOOR ON OPEN HOUSES?
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buying, or refinancing? I appreciate all referrals! |
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