August 2010

Once again the government is set to throw more taxpayer money right out the window in the name of bailing out homeowners facing foreclosure. Quite frankly, such a move no longer shocks us as much as it makes us just want to scream "stop this insanity."

Here's why. The government is going to make $3 billion available through a couple of different programs whereby so called hard hit homeowners facing foreclosure will be able to apply for up to $50,000 "deferred payment bridge loans" that are zero percent interest, non-recourse subordinate financing good for 24 months to help them pay for their mortgage principal, interest, mortgage…

The mid year 2010 Ft. Myers Beach real estate market statistics for both home and condominium sales are listed below. Ft. Myers Beach is the "happening"  locale on Southwest Florida's Lee Island Coast. Ft. Myers Beach offers every amenity you can imagine- from seven miles of wide sandy beaches, golf, boating, fishing and more than anything else - relaxing. The Beach, as its known, is eclectic and diverse. It draws visitors from all over the world and you'll find all sorts of folks from generations of families to Easter Break kids. There's nothing else quite like it anywhere in Southwest Florida.

Fort Myers Beach Real Estate Sales…

With all the short sales and foreclosures occurring in the Florida real estate marketplace, renters need to know their rights under the recently passed Distressed Condominium Relief Act. Otherwise, they might just find themselves at odds with their landlord and the units association.

Under the new law that went into effect in June, associations are now allowed to collect rent directly from tenants residing in units that are delinquent on their fees. Refuse to pay heed to the association's demands and you could find yourself facing an eviction notice from the community.

Fortunately for tenants, the law does have some protections…

The mid year 2010 Fort Myers real estate market statistics for both home and condominium sales are listed below. Ft. Myers sits along the natural splendor and shoreline of the Caloosahatchee River and is known for its fabulous winter weather. The city is a metropolis bustling with historical, cultural, and ecological attractions and the downtown area has undergone major renovations in order to keep up with its continuing growth.

Fort Myers Real Estate Sales Data

Fort Myers Home Sales Mid Year 2010*:

• 1,429 Closed Sales (1,207 in 2009)
• Average Sales Price - $173,875
• Median Sales Price - $125,000
• Average Days on Market -…

Bankrate has released its annual survey on home closing costs again this week. In Florida, the news was actually better than expected. For 2010, the closing costs on a $200,000 home purchase averaged $3,987, a rise of $381 over last year's cost of $3,368. And, while still expensive, Florida's number dropped it from No. 3 on last year's list to No. 12 this year.

The survey found that the national average for origination and third-party fees this year totaled $3,741, up 36.6% ($1,002) from $2,739 in 2009. The results indicated the fees charged directly by lenders went up 22.8%, while fees charged by third parties for things such as…

The mid year 2010 Cape Coral real estate market statistics for both home and condominium sales are listed below. Cape Coral, known as the "The Cape"  to locals, is one of the largest master-planned communities in the nation and is also one of /Southwest Florida's most rapidly growing areas. It is the 3rd largest city in Florida in terms of land mass and features over 400 miles of both fresh and salt water canals - many with gulf access. Over 55% of its population is under 44, so the city is family oriented, schools are important, and the quality of life is exceptional.

Cape Coral Real Estate Sales Data

Cape Coral Home Sales Mid…

For the first six months of 2010, new foreclosure filings fell in Lee and Collier counties in Southwest Florida. In fact, new foreclosure filings overall have fallen substantially from year ago levels.

For Lee County, there were 18,179 new filings from January to June, down 30% from year ago levels. For the month of June, the Cape Coral - Fort Myers area had 3,264 foreclosure filings, down 9% from May and down 32% from June 2009.

In Collier County, there were 6,251 new filings from January to June, down 11% from year ago levels. For the month of June, the Naples - Marco Island area had 1,132 foreclosure filings, down 9% from May…