Fort Myers, Fort Myers Beach, Naples and Sanibel Real Estate

Existing-home sales post third gain in 4 months

2012-02-24T12:07:00.001-05:00

The housing market is in recovery which is great news for everyone

Existing-home sales post third gain in 4 months

Are you looking for a 2/2 top floor condo located just minutes to beaches?

2012-02-24T09:23:00.000-05:00

This top floor 2 bedroom 2 bath condo is super clean and comes fully furnished. Located in the gated community of Majestic Palms which is close to beaches and shopping. See link below for full video tour.

Video for 2/2 furnished condo close to beaches

Banks paying homeowners incentives for short sales

2012-02-23T09:10:00.001-05:00

Seems to make sense for the homeowners and the lenders, but if you read the last few lines in this article there is a twist, the second lien holder wants a share of the incentive being given to the homeowner

Banks paying homeowners incentives for short sales

Adams homes prices increase

2012-02-22T11:07:00.000-05:00

Home resale prices have been increasing, now Adams Homes is raising prices as well

In an e-mail I received this morning from Adams Homes titled :
"Price increase Adams Homes due to great market conditions"

The body of the e-mail is as follows:

Sales are off the Charts!!!!
We are Tracking our best year since 2006!!!!!!
... Don't get left behind....
Dear Sandra,
If you were waiting for the bottom of the market ......You missed it. According to Inman News, "
Median single-family existing-home prices rose in about 20 percent of the 149 markets tracked by the National Association of REALTORS® in fourth-quarter 2011 compared to the same quarter in the previous year, and Florida and Texas are home to nine of the 29 metros with positive growth. " Lee County was up 25%!!!! With sales being so great and this new data we have just made our 1st price increase of 2012!!!! If you are even thinking of a new home GET OFF THE FENCE,
NOW IS THE TIME TO BUY!!!!!!!!!!!!!!!

What you see is not what you get

2012-02-22T09:36:00.000-05:00

Are you trying to find a home by searching online? If you saw this 2700 sq ft home built in 2006 priced at $189,000 then you might think this is a good deal for such a beautiful home.

If you are working with a Realtor who has more information than you do about the current market and about this home in particular then you would not think it was such a good deal.

The photos look great and the public description does state that it is a great home at a great price and "with a little love this home will be gorgeous again". What you may not know if you are not working with a Realtor is that this foreclosure home could have defective drywall which is why the description also states "Seller makes no warranties, expressed or implied as to the condition of the property or the presence of any hazardous substance".

You can see from the photos that the home has no appliances, but what you don't see or know is that there is also no garbage disposal, no pool equipment, no garage door opener, no interior doors, no light fixtures and some bath fixtures are missing. There is an air conditioning unit in place but since the power is not turned on yet there is no knowledge of the condition of the unit. There is also some water damage to kitchen sink interior cabinet. The pool is green, which is why there are no photos.

Looking at property online is fun but if you are serious about a home purchase and want to see homes that are intact or that meet your criteria as well as your price range then all you need to do is have a Realtor assist you. As a buyer you do not pay the Realtor commissions, the Seller does.

If you are looking a home and would like the assistance of experienced Realtors that know this area well then give The Senecal Team a call. As your exclusive buyers' agents we will do the searching for you and e-mail listings including only the homes that meet your criteria in your price range.

Let The Senecal Team simplify your home search and also help to make your home purchase as simple as possible.

Fort Myers/Cape Coral in Top 10 Real Estate Markets

2012-02-13T11:32:00.002-05:00

Top 10 markets for home-price growth in Q4 2011

Housing is on the right track toward recovery

2012-02-12T18:20:00.000-05:00

Buyers that have been waiting for the market to hit bottom in our area have pretty much missed it

We have felt the increase in activity in our area and we have seen prices increasing over the past few months. Inventory is shrinking, prices are rising, new home permits are rising and new developments are popping up in Lee and Collier Counties.

This is great news for our area. Our economy and the job market should improve now that the housing market has.

Check out this article by Polyana da Costa of Bankrate.com

Cape Coral-Fort Myers home values increase more than 25%

Understanding Today's Home Buyers - Price Your Home to Sell

2012-01-31T14:45:00.001-05:00

As a Seller one of the smartest things you can do is look at your home as a Buyer does. Would you pay extra for upgrades in a home or would you simply choose an upgraded home over another without upgrades? If a home is not priced well would you keep looking since you are not concerned that someone else will make an offer? Check out some other tips to help understand today's home buyers. Call if you would like The Senecal Team to list your home and price it to sell.

Understanding Today's Home Buyers

When Homeowners Lose, Freddie Mac Wins

2012-01-30T23:22:00.000-05:00

:Freddie Mac has invested billions of dollars betting that U.S. homeowners won't be able to refinance their mortgages at today's lower rates, according to an investigation by NPR and ProPublica, an independent, nonprofit newsroom:

Freddie Mac Betting Against Struggling Homeowners

California Democrats cheer Obama's housing proposal, but want much more - TheHill.com

2012-01-27T15:18:00.001-05:00

Would you take advantage of the reduced interest rate?

California Democrats cheer Obama's housing proposal, but want much more - TheHill.com

National Association of Home Builders List of Improving Housing Markets Nearly Doubles in January

2012-01-10T15:34:00.002-05:00

Cape Coral is on the list

NAHB: List of Improving Housing Markets Nearly Doubles in January

Paying rent on time will now show on credit reports

2012-01-10T13:55:00.000-05:00

Paying rent on time has a positive affect on credit reports - Good News for those that want to buy a home! Check out this NY Time article:

Rental History: More Important in Getting a Mortgage?

6 ways to save your underwater home

2012-01-05T12:23:00.001-05:00

Great Article by Tara-Nicolle Nelson:

6 Ways to Save Your Underwater Home

What seemed like a housing market downturn is now nearly universally seen as the new normal. Accordingly, many homeowners are taking a tough look at their mortgage situations in this stark light.

This New Year's season, I've received a massive influx of reader questions -- quasi-challenges, really -- asking me why they shouldn't just walk away from their underwater homes and upside-down mortgages.
If you've read my work at all, you'll know that I almost never give an absolute answer to such an important question. The decision whether to walk away from your home is too big and too personal, and there are simply too many variables -- legal, financial, credit, tax, personal, lifestyle, family, etc. -- at play for me to give a glib black-and-white answer.
If you're trying to make this decision now, it absolutely behooves you to consult with a reputable real estate broker, mortgage broker, local attorney and local tax professional -- at minimum.

However, I've also noticed that most upside-down homeowners don't really want to default on their mortgages. If you count yourself in that number, I thought I'd take the opportunity this New Year's week to encourage you to harness the renewed energy and commitment that comes along this time of year and provide you with some direction for it, in the vein of avoiding foreclosure if you decide that is the right path for you.

Here are six alternatives to walking away, some more obvious, some less, but all underutilized, from my vantage point.

1. Get rid of your credit card debt. Again, this might seem obvious, but I've encountered a number of people who say they can't afford their mortgage payments who actually could afford them if they dealt with their credit card and other debt.

Call your creditors and make an effort to settle your debt; many will take a lump sum payment much lower than your balance. While this might have tax and credit score implications, it might also help you keep your house. Or work through steps No. 2 and No. 3, below, to just eliminate those balances, by any means necessary.

2. Get a second job. This seems obvious, too, but I believe it's simply not done nearly as often as it should be, mostly out of pride and emotional defeatism.

You already work 40 hours a week. You're already tired. But you know what? I know MBAs who got into a bad debt situation and are climbing their way out with high-end, table-waiting tips. It won't last forever and, again, could be very much worth it.
If you're not up for this sort of hustle, and you're a white-collar professional, there are tons of consulting or contract gigs out there to be had, which can help you catch up on missed mortgage payments or bring down your debt.

3. Start a side business. Sites like Etsy, TaskRabbit and elance allow people to monetize their spare time, quirky hobbies and special skills. I know a journalist who nearly matches her day-job income dog-sitting while she writes.

4. Rent a room -- or two -- out. Put your man cave on Trulia or Craigslist for rent. If you can't stomach the idea of a permanent roommate, check out Airbnb and see if you can generate some extra cash renting out your rooms to those visiting for short periods of time.

5. Apply for everything. Decide right now to simply refuse to be deterred by the first roadblock that comes up in your pursuit of a loan modification -- and there might be many. Commit, instead, to applying for everything for which you might possibly qualify, and don't make assumptions about what programs might work for you (many loan mod programs have loosened their guidelines or gotten more efficient over time).

Apply through your lender to the federal HARP program, and also to the lender's own loan mod program. Visit this federal site to determine whether there are additional state programs available to you under Treasury's Hardest Hit Fund. Apply to the wildly successful (as these things go) Home Save program run by NACA.

It ain't over till it's over.

6. Short-sell it. Banks are now taking a couple of years, on average, after the first missed payment to foreclose on and repossess a home. If you list your home for sale with a local agent who has experience closing these transactions right this moment, your chances of selling it and having the short sale complete in time to qualify for the income tax exemption that expires Dec. 31, 2012, are actually better than your chances of qualifying for the exemption if you stop making your mortgage payments right now.

Again, it's ubercritical that you work with professionals, from the folks at NACA to a local agent and attorney and certified public accountant (CPA) if you're seeking a loan mod or a short sale. Beyond advising you about implications to be wary of, the pros can help educate you about the full scope of options available to you.
Your best bet is to run even getting a second job past your trusted advisers before you do it, as it might impact your prospects of getting relief from your lender.

Fortunately, your options for avoiding a foreclosure are not so limited as they might seem at first glance.

Tara-Nicholle Nelson is author of "The Savvy Woman's Homebuying Handbook" and "Trillion Dollar Women: Use Your Power to Make Buying and Remodeling Decisions." Tara is also the Consumer Ambassador and Educator for real estate listings search site Trulia.com. Ask her a real estate question online or visit her website, www.rethinkrealestate.com.

Link to her article here:
6 ways to save your underwater home

Onetime flagship Robb & Stucky store to reopen this week

2012-01-04T12:03:00.001-05:00

Robb & Stucky store to reopen this week:

Listing as a short sale is a better alternative than foreclosure. Call The Senecal Team today for more information regarding short sales.

2012-01-02T16:01:00.002-05:00

Increase in short sales give market a little breathing room

For those who have FHA financing and want to purchase a flip this is good news

2011-12-30T11:33:00.001-05:00

FHA will keep funding flips

Wishing Everyone a Happy and Safe Holiday Season. Peace, Love and Prosperity to All

2011-12-22T12:11:00.000-05:00

Want to see how your area is doing? Check out this interactive map.

2011-12-22T11:42:00.001-05:00

Interactive Median Home Price Map

Naples Luxury Homebuilding going strong

2011-12-16T14:02:00.000-05:00

Naples Luxury Homebuilding going strong

Rehabbing Foreclosed Homes

2011-12-16T13:30:00.001-05:00

GSEs spend nearly $1 billion on property preservation

WASHINGTON – Dec. 15, 2011 – Foreclosed homes continue to hamper nearby property values. In some cities, foreclosures were found to decrease nearby property values up to $17,000, according to a new report from the Government Accountability Office (GAO).

More programs are being aimed at rehabbing foreclosed homes so the harm to property values won’t be as great.

According to the GAO report, Fannie Mae and Freddie Mac doled out $953 million last year to maintain and fix up vacant homes.

“We are committed to stabilizing communities and helping the housing market recover,” a Fannie Mae spokesperson told HousingWire. “Our goal is to sell REO properties at a competitive market rate, and maintaining our properties is an important part of achieving that goal.”

Since 2008, investors and nonprofits received $6 billion in grant money from HUD’s Neighborhood Stabilization Program to maintain and fix up vacant homes. In Detroit, the city spent $20 million last year demolishing vacant homes or rehabbing ones that could still be saved after neglect.

Wells Fargo & Co. said recently it would donate $5.53 million to 52 nonprofit groups through its Leading the Way Home Program Priority Markets Initiative so that the groups can purchase and redevelop foreclosed and abandoned homes.

“These grants will help stabilize and rebuild local communities,” said Kimberly Jackson, executive director of Wells Fargo’s Housing Foundation. “We want to do what we can to make resources available to support efforts led by nonprofits to revitalize neighborhoods in cities that have felt the effects of financial difficulties and a challenging economy.”

Source: http://www.housingwire.com/2011/12/09/gses-spend-nearly-1-billion-on-property-preservation and Wells Fargo

Investors and The Housing Bubble

2011-12-13T16:08:00.000-05:00

Investors blamed for bubble in housing

LAS VEGAS – Dec. 13, 2011 – A new federal report shows that speculative real estate investors played a larger role than originally thought in driving the housing bubble that led to record foreclosures and sent economies plummeting in Nevada, California, Arizona, Florida and other states.

Researchers with the Federal Reserve Bank of New York found that investors who used low-downpayment, subprime credit to purchase multiple residential properties helped inflate home prices and are largely to blame for the recession. The researchers said their findings focused on an “undocumented” dimension of the housing market crisis that had been previously overlooked as officials focused on how to contain the financial crisis, not what caused it.

More than a third of all U.S. home mortgages granted in 2006 went to people who already owned at least one house, according to the report. In Arizona, California, Florida and Nevada, where average home prices more than doubled from 2000 to 2006, investors made up nearly half of all mortgage-backed purchases during the housing bubble. Buyers owning three or more properties represented the fastest-growing segment of homeowners during that time.

“This may have allowed the bubble to inflate further, which caused millions of owner-occupants to pay more if they wanted to buy a home for their family,” the researchers noted.

Investors defaulted in large numbers after home values began to drop in 2006. They accounted for more than 25 percent of seriously delinquent mortgage balances nationwide, and more than a third in Arizona, California, Florida and Nevada from 2007 to 2009.

As a result, millions of homeowners saw their home values decline so that they were worth less than the original purchase price. Foreclosures skyrocketed. Residential construction also languished, putting hundreds of construction workers in the hardest-hit states out of work.

In Nevada, which has the highest foreclosure rate in the United States, the housing market remains weak. Paul Bell of the Greater Las Vegas Association of Realtors said the market has shifted so that cash investors are helping Las Vegas recover by buying multiple vacant homes, fixing them up and selling them. “If we did not have the serious investors in the market . . . we would have many neighborhoods in a very run-down condition,” he said.
Copyright © 2011 The Associated Press, Cristina Silva.

Principal Reduction-Is the Principal of this idea the only reason it is not being considered?

2011-12-05T13:31:00.000-05:00

This is a great article with a very controversial view as to how principal reduction will help solve the housing crisis which is a major contributor to the economic problems in our country.

Will Principal Reduction help the housing crisis and jumpstart the economy??

Why didn't the Loan Modification Program work??

2011-12-02T13:05:00.001-05:00

The Truth to Failed Loan Mod Program

If you are having trouble paying your mortgage call your lender.

If you need to sell but are upside down check if your lender will allow a short sale.

Check with your attorney & tax advisor-find out how a short sale will affect you & your credit.

If you need to list as a short sale contact The Senecal Team.

We are experienced with the special needs of homeowners in distress.

Who will benefit from this?

2011-11-30T12:13:00.002-05:00

CLICK HERE: Plans to sell foreclosures in bulk to mega investors

After reading this article regarding plans to sell foreclosures in bulk would you agree
that Washington favors the fat cats on Wall Street over Mom and Pop on Main Street?

Should the focus be to keep families in their homes instead?

Good Question from a potential Seller...

2011-11-29T16:10:00.001-05:00

When a homeowner is considering selling their home one of the questions that we are asked by a potential Seller is, "When is the best time to sell?"

We have visitors here during the Fall and throughout the Winter and many are looking for property while they are here.

Families with school age children want to be settled by June or July, so Spring and early Summer are other busy times for home searches. Other than the few weeks during the winter holiday season and maybe July 4th holiday we have potential Buyers looking for property ALL YEAR ROUND.

With the exception of some investors most future homeowners buy when they are ready.

So, our answer to a potential Seller is, "The best time to sell is when you are ready!"

Florida dominates top 20 markets for inventory declines

2011-11-18T12:00:00.001-05:00

Click the link below to see pricing & inventory numbers for our area:

Florida dominates top 20 markets for inventory declines

Picture yourself here

2011-11-16T09:09:00.001-05:00

CLICK ON THIS LINK and turn up the sound to hear some great music while checking out this condo

Perfect Day for Boating and Fishing

2011-11-13T10:39:00.000-05:00

11781 Isle Of Palms lot with dock and lift $389,000. This is one of the very few lots left for sale that has direct Gulf access so close the Gulf, great fishing, boating and the beaches where you can also enjoy privacy from your dock with mangroves across your canal. Build your dream home on this Royal Palm lined street in this beautiful waterfront gated community of Palm Isles.

Estero Bay and Fort Myers Beach

Private Dock with lift

Tax Benefits of Home Ownership

2011-11-10T17:35:00.001-05:00

The tax deductions you are eligible to take for mortgage interest and property taxes greatly increase the financial benefits of home ownership. Here is an example of how it works:

Assume:

$9,877 = Mortgage interest paid ($150,000 loan for 30 years, at 7 percent, using year-5 interest)

$2,700 = Property taxes (at 1.5 percent on $180,000 assessed value)

_____

$12,577 = Total deduction

Then, multiply your total deduction by your tax rate.

For example, at a 28 percent tax rate: 12,577 x 0.28 = $3,521.56

$3,521.56 = Amount you have lowered your federal income tax (at 28 percent tax rate)

Note: Mortgage interest may not be deductible on loans over $1.1 million. In addition, deductions are decreased when total income reaches a certain level.

3 Bedroom 2 Bath Top Floor Furnished Condo-5 Minutes to Beaches $169,900

2011-11-08T20:11:00.000-05:00

More information and additional photos of this condo

Come see amazing hand-cut paper works of art by Karen Tharp

2011-11-04T18:38:00.001-04:00

Music, Food and Fun! All Day Event for Heartland Gardens

2011-10-23T10:42:00.000-04:00

Cool Hand Luc's is hosting an all day event with live music. Wear a costume, have some food, meet your friends or make some new friends. Your $5 donation will help Heartland Gardens, a non-profit community garden dedicated to reconnecting people with their food.

Heartland offers a multitude of classes that teach these residents how to grow these foods themselves, how to prepare and preserve them, and nutrition courses on how to utilize them to improve health. Heartland Gardens Website

Fort Myers Beach Diamond Head Beachcam - Take a look!

2011-10-20T11:32:00.001-04:00

Fort Myers Beach Diamond Head Beachcam

This beautiful beach is available free everyday if you live here!

If you want to know what it would take to buy property on Fort Myers Beach
contact The Senecal Team today.

Do you like boating and fishing? Want access to Estero Bay, Fort Myers Beach, Sanibel and the Gulf of Mexico from your own dock? Then check this out!

2011-10-18T11:18:00.000-04:00

New Gulf access waterfront lot listing in gorgeous Palm Isles, has dock with power and water as well as 13,500 lb boat lift. 5 minutes to Estero Bay and 30 minutes to the Gulf of Mexico!! For more info click on this link:

http://www.homesofftmyers.com/HomesOfFtMyers.com__listings/13B28F59-E47E-EB6E-AE2978D3959E7738.shtml

The Senecal Team

Cool Hand Luc's Fort Myers

2011-10-17T14:39:00.000-04:00

Sunday afternoon was a perfect time to stop by Cool Hand Luc's for a cup of freshly brewed locally roasted Fair Trade coffee. The lunch menu looked very good and a couple of their soft tacos really hit the spot. Not your usual tacos, these are totally Vegan, home-made and very delicious. Also tried a sample of their home-made Tamarind Coconut Vegan ice cream....very creamy and also very delicious!

If you are looking for a relaxed place to sit with your laptop and try Fresh, made-to-order Vegetarian & Vegan sandwiches, Vegan and premium organic home-made dairy ice cream, Fair trade locally roasted coffee, Organic loose leaf tea or Vegan baked treats then you should stop by Cool Hand Luc's.

Visit their website for more information about the ongoing local music and art showcased or the upcoming events being held at Cool Hand Luc's. Join one of the 1,055 people that "like" Cool Hand Luc's on facebook!

The Senecal Team

ZOMBICON 2011 Downtown Fort Myers

2011-10-16T11:43:00.000-04:00

Welcome to The Senecal Team's first blog post, we're new at this so your positive feedback or information you would like to see posted would be appreciated. We hope to be informative about the area as well as posting Real Estate related news.

Everyone already knows about our sunny, warm weather and our beautiful beaches. We have great outdoor activities year round like boating and golf, but have you checked out downtown Fort Myers lately?

Well, last night ZOMBICON 2011 was held downtown and it was CRAZY...and we mean a good kind of crazy.   There were so many zombies downtown that they probably outnumbered the "survivors" or non-zombies 3 to 1.

The theme was to be The Silver Screen and we did see a few Marilyn Monroe zombies, a Charlie Chaplin, Clarke Gable, Carmen Miranda and Indiana Jones. The streets were crowded with zombie families, zombie older couples and groups of zombie teens.

Fort Myers was also attempting to break the the Guinness World Record For The Largest Gathering of Zombies last night, which according to Guinness the record was set on October 30, 2010 in Asbury Park, NJ, with a total of 4,093 zombies. We can't wait for the statistics to be released because it sure seemed like there were more than 4,093 zombies downtown last night.

It was not all about fun last night though, the event is sponsored by Pushing Daizies, Inc., a non profit organization using artistic means to benefit the local community while making charitable contributions to local and state organizations. Non-perishable food donations were collected for the local Harry Chapin Food Bank and the event helped support Lee Memorial Blood Center and The Art House Foundation.

We were sorry that we did not dress as zombies, yes we were "survivors" which is pretty boring. We still had a blast and we ran in to a few friends which happens wherever we go in Fort Myers. Next year we will be there with our ragged clothes and makeup on for sure!   If any of you attended Zombicon last night please feel free to post your photos here, we would love to see them!

The Senecal Team

Preview for tomorrow's blog: We'll be stopping by Cool Hand Luc's this afternoon for a cup of locally roasted coffee and homemade vegan ice cream.   Stop by tomorrow and we'll tell you all about this local business that specializes in ethically produced hand made treats.