Buyers: It's time to commit

Buyers: It’s time to commit

WASHINGTON – April 20, 2012 – It’s an old investment adage that remains true: “Buy low, sell high.”

National Association of Realtors® (NAR) President Moe Veissi, who served as Florida Realtors president in 2002, explains why conditions have never been better to buy a home in an online radio interview.

The Real Estate Today interview can also be forwarded through Facebook and Twitter to friends, family and clients.

Veissi, broker-owner of Veissi & Associates Inc. in Miami, says today’s real estate market has “less folks looking, less inventory and more contracts working. … We’re just now seeing appreciation in real estate prices in some areas of the country. … This is a wonderful time to take advantage of interest rates that are lower than they’ve ever been.”

Veissi quotes investor Warren Buffet’s outlook on the current real estate market: “Warren Buffet appeared on CNBC about two weeks ago, and the young lady that was interviewing him asked where you should invest your money. Warren said, ‘If I had the capabilities, I’d buy 200,000 homes across this county … I think that housing in America today will outstrip the investment capabilities of the Wall Street blue chips over the longer term.”

To hear the five-minute radio interview and forward to friends and clients, visit the Real Estate Today website at: http://retradio.com/?p=4916.

© 2012 Florida Realtors®

 
Cape Coral Florida

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Financing for new construction available for Non US residents

NEW!

 

FINANCING for new construction is now available to

Non-US-Residents!

 

Request your rate for a purchase of an existing home!

 

Let your dream come true – own a piece of paradise! Build your vacation are retirement home in FLORIDA!

 

70% LTV
30% down payment

Interest rates start at 3,99%

 

 

Interested in more information? Please email to:

info@floridacapecoralrealestate.com

 

Del Prado Realty, LLC

 

US home prices by city, at a glance

US home prices by city, at a glance

MIAMI – April 16, 2012 – After steady declines, U.S. home prices rose slightly in February and March in some major metro areas, according to CoreLogic and Trulia, two real estate data firms. Price gains have occurred in many hard-hit areas, such as Miami and Phoenix, while losses have been reported in cities ranging from Las Vegas to Seattle to Wilmington, Del.

Here’s a look at some of the cities with the sharpest home price gains and losses over the past year, according to Trulia:

Best metro areas year-over-year change

Cape Coral-Fort Myers, Fla.: 14.8%
Miami: 14.1%
Phoenix: 13.2%
Pittsburgh: 9.2%
Little Rock, Ark.: 6.7%
Orlando: 6.3%
North Port-Bradenton-Sarasota, Fla.: 6.2%
Palm Bay-Melbourne-Titusville, Fla.: 6.1%
West Palm Beach, Fla.: 5.8%
Warren-Troy-Farmington Hills, Mich.: 5.6%

Worst metro areas year-over-year change

Tacoma, Wash.: -11.9%
Seattle: -9.1%
Sacramento, Calif.: -8.3%
Las Vegas: -7.7%
Wilmington, Del.: -7.7%
Columbia, S.C.: -7.3%
Cleveland: -6.9%
Fresno, Calif.: -6.8%
Milwaukee: -6.7%
Allentown, Pa.: -6.7%
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
Cape Coral Florida

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Investors eye REOs as a 'gold rush'

Investors eye REOs as a ‘gold rush’

NEW YORK – April 16, 2012 – Investors are pouncing on foreclosure bargains and then turning the properties into moneymaking rentals, which has some drawing comparisons to a “Gold Rush” of sorts.

Diane Gozza, the executive vice president of Integrated Mortgage Solutions in Houston, recently wrote in an article for National Mortgage News that investors are eyeing the properties similar to how those risk-takers did back in the 1848 California “Gold Rush,” who also had dreams of striking it rich.

In recent months, investors have been buying up investment properties in bulk at rock-bottom prices.

They have plenty to choose from: The government-sponsored enterprises (GSE), which includes Fannie Mae and Freddie Mac, own more than 200,000 single-family foreclosed homes, and banks own about 600,000 more. To help accelerate the “rush,” the Federal Housing Finance Administration recently launched a pilot foreclosure-to-rental program, offering investors the chance to bid on 2,500 foreclosure properties owned by Fannie.

But some housing experts, including the National Association of Realtors® (NAR), have argued that such REO-rental programs aren’t needed because investors are already flooding the market to buy up foreclosures, making a government intervention unnecessary. (Read “NAR: REO Rental Programs Largely Unnecessary.”

“Taking into account the enormous stockpile of REO properties currently held by the GSEs, the auction and bulk investment in REO to rental properties may indeed be the next gold rush,” Gozza writes. “Much in the spirit of the 1848 gold rush, there will be risks and tough lessons learned. But this private-sector initiative has the potential to be the catalyst for a housing market recovery.”

Source: “Tapping into the Next ‘Gold Rush,’” National Mortgage News (April 10, 2012)

 
Cape Coral Florida

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City of Cape Coral Land Purchase

City of Cape Coral Land Purchase

 

As some of you may have heard, the City of Cape Coral purchased a large number of properties through a real estate auction held at the Lee County Clerk of Courts website on Monday, April 9.  The purchase price for these properties, which previously were owned by Thieman Enterprises, was just over $13 million.  The City will gain title to 491 properties (652 acres), most of which are located in the north Cape.  The City of Cape Coral purchased these properties through a legal bid process and will take title to the properties in about 10 days.     

 

This acquisition was done to assist the City with future land requirements in the north Cape for utility and stormwater projects, parks and other public facilities such as fire stations. Because development of the north Cape is years in the offing, it is unlikely any of this newly acquired property will be expendable in the foreseeable future.     

 

As such, the City is respectfully asking REALTORS® to refrain from calling the Real Estate Office to inquire about the availability of these properties.  If the City should determine any properties are "surplus" in the future, the City will follow legal notification requirements and conduct a public hearing with City Council.  However, that probably will not happen any time soon.    

 

The City's Real Estate staff has been inundated with calls from REALTORS® asking about the availability of this property for purchase, or asserting that offers and contracts were tendered on various properties within the lot of 491 parcels.  Please be advised by this email that the City does not intend to declare any of these parcels as "surplus" for the purpose of selling them to the public at this time.   

 
Cape Coral Florida

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Will housing prices soar by 2014?

Will housing prices soar by 2014?

NEW YORK – April 4, 2012 – Real estate economists and analysts are increasingly optimistic that the housing market will have a dramatic recovery in the next two years, according to results of a new semi-annual survey of 38 real estate economists and analysts conducted by the Urban Land Institute’s Center for Capital Markets and Real Estate.

The economists predict that the national average for home prices will stop falling by this year and a subsequent turnaround will occur. By next year, they project that home prices will begin to rise by 2 percent, and then get a larger boost of 3.5 percent by 2014. The economists also predict that housing starts will nearly double by next year.

They also foresee rental prices continuing to increase for all property types, ranging from 0.8 percent to 5 percent.

The economists’ predictions were made on assumptions that the economy would continue to strengthen, including a larger drop in unemployment.

“While geopolitical and global economic events could change the forecast going forward, what we see in this survey is confidence that the U.S. real estate economy has weathered the brunt of the recent financial storm and is poised for significant improvement over the next three years,” says Patrick L. Phillips, ULI chief executive officer. “These results hold much promise for the real estate industry.”

Source: “Real Estate Will Rock in 2014,” RISMedia (March 31, 2012)

© Copyright 2012 INFORMATION, INC. Bethesda, MD (301) 215-4688

Cape Coral Florida

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Cape Coral leads nation for increased home values

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Cape Coral Florida

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