Cape Coral real estate update (Naples, Lee: short sales, mortgage, loans)

[sburke33]

Does anyone here live in the Hawk's Preserve area? Looking for any info on that area about buying a home, and does anyone know about the deed restrictions? I read it has a limit on number of dogs, but wondering about breed restrictions.

Thanks! Happy New Year to all

Sharon

[equalrightsforeveryone]

Originally Posted by xoomer

Real estate isn't a perfect market, like the stock market, where demand, supply, and price move in an instantaneous manner--there are many other factors involved.

Buyers and sellers don't concern themselves with the number of homes being sold before they decide on the price they will ask, or pay--they just look at the recent prices homes have been selling for. It takes a while for reality to set in after the homes offered for sale sit on the market for several months and no offers are received--then the sellers will start to lower the prices.

In any case, how would anyone manipulate the pricing of almost 20,000 individual homes sold in the last year? Impossible...

Impossible really, you have got to be kidding.

Manipulation is what caused the market to crash in the first place.

But for you yes there is no way anyone could ever manipulate any market, just so you can contiue your trip to LALA land.

[xoomer]

Originally Posted by equalrightsforeveryone

Impossible really, you have got to be kidding.
Manipulation is what caused the market to crash in the first place.
What planet have you been on the last five years?
But for you yes there is no way anyone could ever manipulate any market, just so you can contiue your trip to LALA land.

Thanks for that very clear and detailed explanation of how the Cape Coral real estate market is being manipulated..

[equalrightsforeveryone]

If it's impossible why are you so upset.
If nothing is wrong my post should not bother you at all.
And I have been investing in the real estate market a lot longer then you think.
And yes I own one little house in Cape Crappy The worst place in Florida, and that is all I will ever own, there are much beter places to invest

[xoomer]

Originally Posted by equalrightsforeveryone

If it's impossible why are you so upset.
If nothing is wrong my post should not bother you at all.
And I have been investing in the real estate market a lot longer then you think.
And yes I own one little house in Cape Crappy The worst place in Florida, and that is all I will ever own, there are much beter places to invest

If you moved to Cape Coral during the boom, had plenty of work, and bought a house when prices were inflated then I can see why you are so angry now at everyone in sight because of your losing equity and probably having trouble finding work. However, if this had happened to you at any other city in the US you would now be calling that city "crappy" instead of Cape Coral.

It's not the city that's crappy, it's your timing that was crappy.......

[nhkev]

Originally Posted by xoomer

If you moved to Cape Coral during the boom, had plenty of work, and bought a house when prices were inflated then I can see why you are so angry now at everyone in sight because of your losing equity and probably having trouble finding work. However, if this had happened to you at any other city in the US you would now be calling that city "crappy" instead of Cape Coral.

It's not the city that's crappy, it's your timing that was crappy.......

Equal bought at a decent time. A couple problems with his purchase was as follows. Cape Coral's biggest draw is it's gulf access waterfront. The closes you are to open water, bridges to go under, loch's, width and depth of canal, etc...

Some people don't want or care for gulf access, regardless is the better neighborhoods are going to be around the best access points. It stands to reason that if there is a neighborhood of million dollar gulf access lot and homes , the houses in the neighborhood that are not gulf access will still probably attract higher $$. Equal bought in the 1 area of cape coral that has no gulf access (the NE). The northeast is also the area that most associate with future assessments, cookie cutter houses, barren landscape, and higher crime. The other thing that buyers wanted were newer homes that would be lower insurance due to hurricane codes. Equal's house is older. People also want bigger homes, equal bought a small home.

So Equal made a bad investment, small older house in the least desirable area of the city (oh and don't forget that nice view of the electric power station he has). Couple all this with the fact that he thought the city ordinances did not apply to him so when he was getting cited for parking commercial trailers in his driveway, he felt his way to get back at the city for enforcing ordinances was to come on a forum and bash the city by twisting the truth to sway people away from the city.

[xoomer]

Originally Posted by nhkev

So Equal made a bad investment, small older house in the least desirable area of the city (oh and don't forget that nice view of the electric power station he has). Couple all this with the fact that he thought the city ordinances did not apply to him so when he was getting cited for parking commercial trailers in his driveway, he felt his way to get back at the city for enforcing ordinances was to come on a forum and bash the city by twisting the truth to sway people away from the city.

I looked in that area but didn't buy for the reasons you mentioned; but one reason I did buy in Cape Coral was to avoid having RVs and trailers in the driveways next to me--if I had wanted that I would have moved to NFM.

[equalrightsforeveryone]

Some one is manipulating the numbers

Some body is playing trix on the folks.



NOW WHO WOULD DO SUCH A THING

[stahltkd]

http://www.news-press.com/article/20...eclosures-down

"That’s a good sign, association director Jeff Tumbarello said, because there’s a tendency for banks to file more foreclosures at the end of the year to improve their annual balance sheets."

“If you were thinking the banks were holding back, December’s when you let it rip, but they didn’t,” he said. Now, he said, “I think we’re at the new normal: between 350 and 550 foreclosures.”

The second wave of foreclosures that had been predicted by some is coming, but not in houses, Tumbarello said."

[xoomer]

Originally Posted by stahltkd

http://www.news-press.com/article/20...eclosures-down

"That’s a good sign, association director Jeff Tumbarello said, because there’s a tendency for banks to file more foreclosures at the end of the year to improve their annual balance sheets."

That really doesn't make any sense...you don't improve a balance sheet through foreclosures. The original mortgage (asset) is just moved to another asset category--ORE, "other real estate". Also, the fair market value of the property is to be used when it is moved to ORE, not the inflated amount of the outstanding loan balance, so in all likelihood the asset will decrease in value and any deficiency will be charged off by the bank.

Jeff needs to take an accounting course...