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Old 12-17-2011, 12:12 PM
 
Location: Cape Coral
5,503 posts, read 7,291,272 times
Reputation: 2249

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Quote:
Originally Posted by hiknapster View Post
Investors and the flipping craze started this entire mess. The average joe thinking they could buy a house that they could turn around and sell added to the situation. And of course the banks taking all of those shaky loans and selling them as derivatives.
Do Fannie and Freddie take loans that are made to investors? I thought the whole point was to help first time homeowners.
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Old 12-17-2011, 02:27 PM
 
70 posts, read 119,538 times
Reputation: 63
Quote:
Originally Posted by rikoshaprl View Post
I am not necessarily happy to hear about frenzied buying by investors. For one thing investors are most likely getting mortgages, which means they could get foreclosed on some day creating another housing crisis. Also, owners often make better neighbors than tenants.
the average of cash sales percentage of the last three years is 67 percent. I have heard of a few investors buying with leverage. From what we have seen most of the end users are buying with leverage
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Old 12-18-2011, 09:25 AM
 
Location: Twin Cities, MN 55337, Outing, MN 56662, and Cape Coral, FL 33904
96 posts, read 210,719 times
Reputation: 58
Hard money loans.
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Old 12-28-2011, 09:22 AM
 
378 posts, read 826,001 times
Reputation: 291
Investors and flippers have a constructive role to play in healing a market with many foreclosures. Most regular buyers have no interest in buying a home that needs a lot of work and the financing they usually need won't allow it anyway. Flippers can straighten out that home.

FM/CC and SW FL real estate in general are seeing home prices stabilize or increase when in most of the rest of the US the prices are still going down. Rising prices = less underwater mortgages, less foreclosures.
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Old 12-29-2011, 06:33 AM
 
Location: Long Island, NY & The Somerset at the Plantation, Fort Myers, FL
95 posts, read 212,610 times
Reputation: 71
Quote:
Originally Posted by alfbroker View Post
Investors and flippers have a constructive role to play in healing a market with many foreclosures. Most regular buyers have no interest in buying a home that needs a lot of work and the financing they usually need won't allow it anyway. Flippers can straighten out that home.

FM/CC and SW FL real estate in general are seeing home prices stabilize or increase when in most of the rest of the US the prices are still going down. Rising prices = less underwater mortgages, less foreclosures.
Great info Alf. I think you've summed up the situation in SWF very well. When I bought my new house in April of 2010, when the Market was scrapping the bottom of the barrel, my home was the only one on my side of the street. Now the entire side has new homes on it.
Sales brochures for my community claim they've sold over a hundred homes in 2011. Something very positive is going on in the Fort Myers marketplace.
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Old 02-09-2012, 02:21 PM
 
Location: Long Island, NY & The Somerset at the Plantation, Fort Myers, FL
95 posts, read 212,610 times
Reputation: 71


More GOOD news! Fort Myers is No. 4 on the top 10 list. The news is great for Florida as a whole as 8 of the top 10 turnaround towns are in Florida.

Top 10 turnaround towns - Miami (1) - CNNMoney
Fair Use from CNN Money:


"
Median home price: $115,000

After the housing bubble burst, many older Americans postponed their retirement to the Sunshine State, significantly hurting retiree havens like Fort Myers.

Things are looking up now, especially as an influx of Canadian retirees and vacation-home seekers look to take advantage of a strong Canadian dollar and beaten down home prices.

Median listing prices for the Fort Myers metro area saw the biggest increase in the nation last year, up 31% compared with 12 months earlier, according to Realtor.com. That trend should continue thanks to shrinking housing inventory, which was down 35% year-over-year.

New inventory will also be making its way onto the market. Custom home building is on the rise, which has helped to create more construction jobs, said Tuccillo. The unemployment rate for the metro area fell 2.7 percentage points over the 12 months ended in November to 10.5%.

Fiserv estimates that home prices should climb by more than 5% over the next five years"
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Old 02-09-2012, 04:31 PM
 
Location: Cape Coral
5,503 posts, read 7,291,272 times
Reputation: 2249
That looks like a picture of Cape Coral.
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Old 02-17-2012, 02:05 PM
 
Location: Twin Cities, MN 55337, Outing, MN 56662, and Cape Coral, FL 33904
96 posts, read 210,719 times
Reputation: 58
Forgive me if this was already posted, but I saw this on my Comcast homepage today: Home Values: 5 Best Markets | Bankrate.com

Cape Coral/Ft. Myers was #1 in the nation for best housing market, up 25.6% in Q-4 2011 over Q-4 2010.

Awesome news, we are so glad we bought when we did!
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Old 02-22-2012, 11:20 AM
 
Location: Florida Space Coast
2,356 posts, read 5,060,381 times
Reputation: 1571
You may see a lot less articles like this in the future. For whatever reason the florida association of realtors changed their name to florida realtors and also decided to compile their real estate info as a state and no longer seperate the nubers by msa's. Cape coral ft myers has not been running lock step with the rest of the state for a very long time. We will depend even more to our members like ccresi, tamre, and jeff tumbarello to get us info like median home prices, price per sq ft, avg price,and avg days on market sale to list price etc.
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