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Old 06-08-2011, 07:44 AM
 
Location: Ship Bottom LBI
14 posts, read 51,498 times
Reputation: 14

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Hi folks...

Trying to narrow down some homes with my father-in law....This home is one of his favorites, but, we can't figure out why it's priced so low? It IS a short sale....

Is this area a major flooding area? The house only has 1/2 of the seawall access b/c it is on a small cove and the house is on 1 of the corners, is this why the price is low? Are you unable to put mooring whips up instead of a dock? The boat that's going to be used is 18.5'.....

Many thanks, here's the link...

5921 SW 1st Ct Cape Coral, FL 33914 - Real Estate | CENTURY 21 (http://www.century21.com/property/5921-SW-1st-Ct-Cape+Coral-FL-33914-C2135746300 - broken link)
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Old 06-08-2011, 08:28 AM
 
Location: Cape Coral, FL
646 posts, read 1,641,583 times
Reputation: 380
Quote:
Originally Posted by horseshorses View Post
Hi folks...

Trying to narrow down some homes with my father-in law....This home is one of his favorites, but, we can't figure out why it's priced so low? It IS a short sale....

Is this area a major flooding area? The house only has 1/2 of the seawall access b/c it is on a small cove and the house is on 1 of the corners, is this why the price is low? Are you unable to put mooring whips up instead of a dock? The boat that's going to be used is 18.5'.....

Many thanks, here's the link...

5921 SW 1st Ct Cape Coral, FL 33914 - Real Estate | CENTURY 21 (http://www.century21.com/property/5921-SW-1st-Ct-Cape+Coral-FL-33914-C2135746300 - broken link)

1.It is a short sale. And it is Active Contingent, meaning it already has an offer in and your agent would have to call to see if it is still accepting backups in case offer 1 decides to walk.

2. If there is storm surge, this property may flood. So could any other gulf access home you look at. Make sure your FIL gets flood insurance in this area of SW FL. No matter what the elevation is.

3. It is an old, old, old house. Built in 1964.

4. The back of the home is not fully on the water. Go to leepa.org and see for yourself.

5. It might be tough to fit a dock. MLS has an attachment for a blueprint/estimate. Have your Realtor explain what they can do.

6. Part of the home might be wood frame.

7. Only has a 1 car garage.

I Like the access this home has, but the age and the fact it already has another offer on it would make me look elsewhere. I think you can do better. Check out: 201122039 It has been on the market for a week. I just looked under 200k for Gulf Access and found this one. Burnt Store area.
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Old 06-08-2011, 08:30 AM
 
Location: Cape Coral
5,503 posts, read 7,330,107 times
Reputation: 2250
I like the location and the water view. I'm not sure how the boating would work. There may be liens that he will have to pay in addition to the price of the home. It is a very old home so make sure you get an engineers report. Check what your insurance will be as it is in a low lying area.
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Old 06-08-2011, 09:52 AM
 
Location: Meredith NH
1,563 posts, read 2,872,864 times
Reputation: 2883
Pretty awesome location
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Old 06-08-2011, 04:08 PM
 
Location: Ship Bottom LBI
14 posts, read 51,498 times
Reputation: 14
Damn! He really liked that one!! Oh well, this is his 2nd choice...nice property and good water location ( for him )

2328 Southeast 27th St, Cape Coral FL 33904, MLS #201117363, Weichert.com

also a short sale, is it still active??
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Old 06-08-2011, 04:12 PM
 
222 posts, read 472,903 times
Reputation: 103
Quote:
Originally Posted by CCRESI View Post
3. It is an old, old, old house. Built in 1964.
LOL!!

My house in England was built in 1901 and that's pretty much a new build here
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Old 06-08-2011, 04:26 PM
 
Location: Cape Coral, FL
646 posts, read 1,641,583 times
Reputation: 380
Quote:
Originally Posted by London Guy View Post
LOL!!

My house in England was built in 1901 and that's pretty much a new build here
In CT my house was old. I don't recommend it in hurricane central though.
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Old 06-08-2011, 05:48 PM
 
Location: on the edge of Sanity
14,268 posts, read 18,923,606 times
Reputation: 7982
Quote:
Originally Posted by London Guy View Post
LOL!!

My house in England was built in 1901 and that's pretty much a new build here
I know what you mean. I grew up in the Boston area, and it took me a while to get used to reading about houses built in the 1970s that are "old."

Quote:
Originally Posted by CCRESI View Post
In CT my house was old. I don't recommend it in hurricane central though.
But if a house is 30 or 40 years old in SWFL and still standing, doesn't that mean it survived a lot of hurricanes? I think the age/condition of the roof, a/c, plumbing, electrical wiring is important, since many older homes have been completely renovated. Of course whether or not a home passes inspection with high marks (mold, termites, etc.) is important, but I do agree that people around here prefer newer homes. Insurance is often less too.
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Old 06-08-2011, 07:02 PM
 
176 posts, read 439,128 times
Reputation: 130
If I'm not mistaken, anything built in 1999 and newer has the latest hurricane standards. If you buy an older home in a flood zone, your homeowners insurance will be sky-high.
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Old 06-08-2011, 07:52 PM
 
Location: Cape Coral
5,503 posts, read 7,330,107 times
Reputation: 2250
My Home is 34 years old but is built like a brick s- house. Poured concrete walls and tile roof. I don't think they build them like that too often anymore. With wind mitigation the rates are only slightly higher than newer homes built after 2002.
The OP house in the Everest area: Nice community but it is awfully close to the water treatment facility. Close to the river and there is a nice park on the river nearby. Close to shopping and restaurants. Short hop to Downtown Fort Myers.
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