Posts Tagged ‘waterfront homes’

Rantings On Mortgage Money. Just Do It Now.

Sunday, October 3rd, 2010

We have gone from fogging a mirror to get a loan to blood type and perfect credit.

We should never have had the first. It just led to misuse, greed, corruption and financial ruin. Who is to blame?  Well, the financial institutions under federal mandate to have everyone own a home and then the almost manic lending practices instituted by these same institutions.  It was out and out greed on their part to make as much money as quickly as they can. As competition for this market increased the crazy ideas to lend went even farther.  Try to get an 80/20 loan now. What was that? When it was first announced I knew it was the beginning of the end.  Life is just not 100% free without some serious strings attached.

Since the debacle we are back to 20% down or FHA 3.5% down.  The trouble now is the pendulum has swung to the other direction.  The mortgage process is arduous at best.  By the time people even with good credit finally get their loan they are so stressed, angry and frustrated the excitement of their new home has been destroyed.

  1.  The appraisals are often very low due to the crazy foreclosures and condition of properties. Prices on similar homes can vary 30% or more. The appraiser then takes the lowest and adjusts to that. The appraisers have taken the blame for much of this down market and now their rules have tightened. THIS IS THE FIRST AND OFTEN FATAL HURTLE.
  2. b.      The old saying “Dot the I and cross the T” is taken to new heights. Here are just two examples. A Physician with and established practice was asked for a copy of his license. A senior VP transferred every year for the past three years had rented because of the transfers. They asked for 15 months of cancelled checks (front & back). After receiving those wanted 3 more months. AND ON AND ON AND ON!

 

I don’t know when things will get back to “NORMAL”.   I just hope it will be soon!

Now that you know the bad let’s look at the good news. That would be: Interest rates are at an incredible all time low rate. Take advantage. What are you waiting for?  Extremely low prices and extremely low interest rates are here now.  Have you done the numbers? It is a WOW!   Sign up for automatic searching in your area or desired area at www.TwoCityLink.com

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Cape Coral and Fort Myers No Oil

Monday, August 9th, 2010

The Forbidden Zone of SW Florida. We in SW Florida are located in the best place possible in Florida. The #1 concern today is over the Gulf Oil spill. But, we are looking very good. Not only does the Gulf loop current stay away from our shore, BP has the leak under control and is cleaning the water.

I didn’t know until recently that their are organisms in the water that feed on the oil. Over time this helps dissipate what is not picked up.

A team of researchers from the University of South Florida, Scripps Oceanographic Institute, Florida State University, and the Minerals Management Service (Yang et al. 1999) identify SW Florida as the ” Forbidden Zone”.  This project placed over 300 passive drifters at various locations in the northern Gulf, from the Mississippi-Alabama border eastward to off Cedar Key, Florida, and tracked their changes in location via satellite.
Here is the link for the map of the passive drifters placed in the Gulf and the path that they took. This is what identified SW Florida as the “Forbidden Zone” http://www.fgcu.edu/CWI/files/Forbidden_Zone_CWI.pdf .

So, come on down. The water is clear, the weather is great and the deals are plentiful. Boating, fishing and our beaches are all top notch.

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We’ve Come A Long Way Baby

Wednesday, December 2nd, 2009

We all know the story of Cape Coral’s early years.  There were a lot of brave people that came to the “promised land”.  They fought off mosquito’s and lots of growth issues with very little money and look at us now.

We went from the “fly um, wine um and sign um” to beautiful waterfront wonderland and back again to national news of the highest number of foreclosures in the country.

Ok, I know there were problems of overbuilding, over spending by government and the housing debacle which has brought this city to its knees.  But, I think the worst is over and new people are making Cape Coral home. They have new ideas and positive expectations of their future here in Cape Coral.

The vacant homes are being sold and filled with new residents that are neighbors, tax payers, shoppers and volunteers.  We still have blue sky, palm trees, pelicans, eagles, borrowing owls, tropical breezes and the Publix bakery. It’s still Paradise!

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