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        <title>Cape Coral Real Estate Blog</title>
        <link>http://www.davidsporleder.com/blog/short-sales/</link>
        <description>Cape Coral real estate news and info, Fort Myers, Lehigh Acres and surrounding Southwest Florida communities. Search Cape Coral real estate property. Information for sellers and buyers of Cape Coral Real Estate. The latest on homes for sale in Cape C</description>
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            <guid>http://www.davidsporleder.com/blog/cape-coral-real-estate-what-you-need-t-know-about-buying-foreclosures.html</guid>
            <link>http://www.davidsporleder.com/blog/cape-coral-real-estate-what-you-need-t-know-about-buying-foreclosures.html</link>
            <author>david@davidsporleder.com (David Sporleder)</author>
            <title>Cape Coral Real Estate - What You Need t Know About Buying Foreclosures</title>
            <description> <![CDATA[ 
Cape Coral Real Estate - What You Need to Know About Buying ForeclosuresWho hasn’t thought of what a wonderful buying opportunity foreclosure property could be? We all know a bargain when we see one, and getting a piece of that Cape Coral waterfront at half price or less of what someone else payed for it,  is certainly a bargain, or is it? The truth is that foreclosures sometimes really can be a steal of a deal. However, buying a foreclosure is a complex process and there are certain things savvy buyers should watch out for.Foreclosure Basics


Foreclosures are simply Cape Coral Properties that are bank owned, usually because of a mortgage default. Having that said, it is important for potential investors to understand that foreclosures may come with significant damage or with extensive repairs needed due to long-term neglect. Keep a business head, when viewing foreclosures, paying close attention to the amount of work the property will need. If your real estate agent has your best interests in mind, they will make sure a thorough home inspection is completed before any offers are made. 


Finding Foreclosures


Before you can start viewing foreclosed Cape Coral properties, you need to know where to find them. Since foreclosures are hot ticket items, they can be difficult to keep up with unless  you have a real estate agent who regularly deals with them. 


Your realtor will be able to notify you of Cape Coral properties that become available within your specific search criteria. For example, if your realtor knows you are looking for an affordable Cape Coral waterfront property with at least three bedrooms, he can monitor the lists and let you know immediately when the perfect property pops up.


Buying Foreclosures


Cape Coral properties under foreclosure can be purchased in one of several ways. Many banks choose to hold a public auction for the property. You will need a letter of preapproval or proof of financial means before you will be allowed to submit a bid. With this method, the rule is to be aware of your limit and not exceed it. It is very easy to get caught up in the excitement of an auction and enter into a bidding war.


Another method of buying foreclosures is buy submitting a sealed bid to the owner. The bank sets a time period for accepting bids and when that time is up they select the best offer, provided it meets their minimum price. 


Finally, and perhaps the easiest of all methods, is to work with a Cape Coral realtor to advocate on your behalf. A seasoned realtor is knowledgeable of the foreclosure process and will help you navigate the competitive nature of the business. Remember, you aren’t the only one who noticed this opportunity! If you are thinking about purchasing a foreclosed Cape Coral property, the best start will always be your realtor’s office.


We would be happy to assist you on the road to buying your Cape Coral foreclosure. We will also help you weigh out your other options. Sometimes a property that is not in foreclosure can be a much better deal.


 Give us a call and we can help you better understand your options. Your slice of paradise is right around the corner. 
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            <pubDate>Fri, 28 Jan 2011 12:21:21 -0600</pubDate>
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            <guid>http://www.davidsporleder.com/blog/dignity-and-a-short-sale.html</guid>
            <link>http://www.davidsporleder.com/blog/dignity-and-a-short-sale.html</link>
            <author>david@davidsporleder.com (David Sporleder)</author>
            <title>Dignity and a Short Sale</title>
            <description> <![CDATA[ Dignity and a Short Sale...Can the two Exist Together? 

If you are facing foreclosure and considering a short sale, there is much more to think about than just numbers, credit repercussions, and finances. 


This is your home. The purchase of your home was most likely one of the most emotionally driven decisions you have ever made. Whether it was your first home purchase or your fifth, it still holds many memories, holiday dinners, remodeling projects, and laughter. Even if the home is in distress due to a divorce, it is still the place where you feel comfortable and has a certain amount of security for you. 


If you have become friends with your neighbors, as is often the case, you may not want to make the fact that you are in financial danger public knowledge. You may be worried about listing your home as a short sale because of the stigma involved, and even wondering if there will be a "short sale" sign put up in your yard for all to see. 

Short Sale with Dignity  

Our team of short sale and real estate experts are interested in more than simply making another Cape Coral property sale. We are well aware of the unfortunate circumstances that many have recently found themselves in and we work with you in a positive way that will give you the confidence you need during this stressful time. 


The idea of a short sale has the potential to destroy your dignity and self esteem if not handled correctly. Generally, the decision to let your home go to a short sale is wise since it can relieve you of a huge financial burden, but it is never an easy choice. Months and even years of attempting to catch up on your payments and save your home are usually what lead to a short sale decision. 


Once you've made the decision to consider a short sale, you need to list your home with a real estate agent who has your best interests in mind and will help direct you in a positive way. Our team has decades of experience and have handled numerous short sales. 


Most recently, we assisted a seller with this decision. Respected, hard working business professionals, they were laid off during the economic turn. Like most others in this situation, they continued to make their payments, draining their savings, hoping that things would turn around. Eventually, they found new employment, but it happened to be out of state. Instead of looking at this entire situation as a failure, our team helped this family to list and sell their home as a short sale. This turned into a positive experience for the family, who will miss the warmth of Florida, but are looking forward to their new start in a new location. It was a win/win situation. 


If you are facing foreclosure and considering a short sale, let us help you take a look at each of your options so that you can feel comfortable with your decision. The short sale process does not have to be the end of the road. It can be a new beginning for you and your family. Call our offices today. We will be happy to answer all of your questions. 

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            <pubDate>Thu, 09 Dec 2010 09:14:02 -0600</pubDate>
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            <guid>http://www.davidsporleder.com/blog/to-short-sale-or-not-that-is-the-question.html</guid>
            <link>http://www.davidsporleder.com/blog/to-short-sale-or-not-that-is-the-question.html</link>
            <author>mray@davidsporleder.com (Mary Ray)</author>
            <title>To short sale or not - that is the question</title>
            <description> <![CDATA[ 
To short sale or not….that is the question!


Just like the Shakespeare saying…to be or not to be people here in Cape Coral are asking themselves to short sale or not.


If you live in Cape Coral and want to sell your home in a short sale transaction, you are probably asking yourself is it really possible for a Cape Coral home short sale to actually close.   What about the things I read about in the news or hear thru the grapevine that the short sale process is time-consuming  and full of headaches and heartaches due to the uncooperative mortgage lenders?  Times have changed with short sales and the process has been streamlined to enable the lenders to work with homeowners to resolve and sell their homes in a timely manner and with less headaches.  The most important thing you can do as a Cape Coral homeowner wanting to short sale their home and this is vital…..Get a qualified and proven Realtor® to help you with your short sale process.  This is not to say go to the Realtor® who says” I do multiple short sales and close many of them.”  You want a Realtor® who will dedicate their time to handle every detail like it was their own home.  That’s the key to a successful short sale - its attention to detail and dedication and most of all caring about the homeowner and the process they are going thru.  Give us a call and let us talk to you about your Cape Coral home short sale.  We have a proven track record of success and we take each short sale and handle it like it was our own home.  


Call us today don’t keep asking the question “To Short Sale or Not”   talk to us and get some peace of mind. 


 


 


 


 


 
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            <pubDate>Sat, 20 Nov 2010 08:13:51 -0600</pubDate>
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            <guid>http://www.davidsporleder.com/blog/foreclosures-in-cape-coral-fort-myers-mean-incredible-opportunities-for-buyers.html</guid>
            <link>http://www.davidsporleder.com/blog/foreclosures-in-cape-coral-fort-myers-mean-incredible-opportunities-for-buyers.html</link>
            <author>mray@davidsporleder.com (Mary Ray)</author>
            <title>Foreclosures in Cape Coral &amp; Fort Myers Mean Incredible Opportunities for Buyers</title>
            <description> <![CDATA[ 
According to RealtyTrac, the Cape Coral-Fort Myers real estate market has one of the highest rates of foreclosure in the nation&mdash;their most recent data is from May 2009&mdash;with approximately 1 out of every 82 properties entering foreclosure. The average for the entire state of Florida is 1 out of every 148 homes. The community of Lehigh Acres has been particularly hard hit, with bank owned homes selling for about a fraction of what they were just two years ago. The Florida Association of Realtors reported that the median price for homes in the Cape Coral-Fort  Myers metro area was just $88,500 in May of this year. 


While these numbers hint at the difficult times homeowners in Lee County are facing, they also suggest a boon for buyers. 


Investors, retirees, and second home buyers  are heading to Southwest Florida to find a deal on some of the most beautiful real estate in the country. With many houses and condos selling for under $100,000, the Cape Coral real estate market is now open to more buyers than ever before. 

If you've ever wanted to enjoy the incredible weather and scenery of Southwest Florida, now is truly the best time to buy.There are Cape Coral waterfront homes, golfing communities, condos, and luxurious gated community homes available. The number of elite and desireable Cape Coral homes for sale has never been better.&nbsp; 

Cape Coral Real Estate 
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            <pubDate>Wed, 15 Jul 2009 09:39:12 -0500</pubDate>
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            <guid>http://www.davidsporleder.com/blog/cape-coral-short-sales-a-crash-course.html</guid>
            <link>http://www.davidsporleder.com/blog/cape-coral-short-sales-a-crash-course.html</link>
            <author>mray@davidsporleder.com (Mary Ray)</author>
            <title>Cape Coral Short Sales: A Crash Course</title>
            <description> <![CDATA[ 
&nbsp;

Interested in purchasing a beautiful Cape Coral waterfront home? Maybe you've always dreamt of owning a home in Cape Coral but thought it was out of reach. With short sales becoming ever more available, owning a home in Cape Coral may not be as far off as you had previously thought.&nbsp; 

What is a short sale? A short sale is when a property is sold for less than is owed on the mortgage. 


When is it done? Homeowners who are struggling to make their mortgage payments may try to arrange a short sale so they can avoid going through foreclosure. Banks will approve a short sale  when  it's in their best interest to do so. If they think they can recoup more money through a foreclosure, then they'll deny the homeowner's request for a short sale. 


Who benefits? If all parties do their homework before entering a short sale agreement, then usually everyone involved can benefit. The homeowners for instance, avoid the stressful process of foreclosure, and take less of a hit on their credit score. Banks also want to avoid foreclosure whenever possible because they're time consuming and risky. There's no guarantee that they'll get a reasonable amount of their money back, and they also don't want to be property managers. Short sales allow the bank to walk away fairly quickly, and with money in their pockets. 


Buyers  benefit from short sales too,  because they can get a great deal on a property. Also, because the homeowners are actively trying to sell the house, they're likely to keep the property in good repair.  


Where do you start? If you're thinking of trying to do a short sale, you should immediately speak with a REALTOR who has experience in this area. These transactions are more complicated than straight sales, so you want someone who really knows what they're doing. Next, you need to collect the following information to give to your lender: 



  
an exhaustive list of all your monthly expenses

  
pay stubs and tax returns for the last two years

  
a letter explaining your financial situation, and how you're unable to make the mortgage payments. Be honest in your explanation; don't try to be modest. You must prove to your lender that you have a valid reason for not being able to pay them. The bank considers things like losing your job, death of a spouse, long-term medical issues, and divorce as legitimate examples of financial hardship. 




Next, you need a buyer. You also need your agent to prepare a comparative market analysis to present to the bank. What you want is for the bank to know that a) you can't afford your payments, b) you have legitimate hardships, c) someone wants to buy the home, and d) the amount the buyer is offering is as much as the home can get in the current market. If the bank thinks it can sell the house for more money themselves, they'll proceed with foreclosure. 


What's the catch? Lenders are also notorious for taking months to respond to a short sale offer. This means that both you and the buyer need to be patient. Also, there's no guarantee that the lender will accept a short sale offer. They're within their rights to reject the offer outright.


If you have any questions about Cape Coral short sales or foreclosures, please feel free to contact us  online or call 239-410-5821. If you're a buyer, be sure to check out the links below for short sale and foreclosure listings in Cape Coral and surrounding areas. 

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            <pubDate>Fri, 10 Jul 2009 09:46:16 -0500</pubDate>
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