Cape Coral Florida's Real Estate Guide

                            27 Se 20th Place.... JUST REDUCED~ 

Completely remodeled on fresh water canal. 3 bedrooms 2 new bathrooms. New kitchen w/ new appliances. New tile, carpet and windows. 6 panel doors throughout. New garage door. Freshly painted inside & out. Sold as is with right to inspect. Great central location. Fifteen minutes to downtown Ft Myers. Fish & boat from your own back yard. ALL city assessments in and paid.  Mls # 201021853  Only $ 107,500.00

Call Vickie Townes for more details! 239-671-3300

CAPE CORAL - Hopefield, a single-family villa neighborhood by Pulte Homes in Sandoval, is more than 60 percent sold, according to Bonita Bay Group, developer of the master-planned community in Cape Coral.

Hopefield has 47 single-family villas that overlook a lake. Two models are available for viewing in Pulte Homes' Greendale neighborhood at Sandoval. Each model has two bedrooms, a den, two baths and a two-car garage.

The Brentwood offers 1,515 square feet of air-conditioned living area and features a centerpiece great room. The Belmont offers 1,725 square feet of living area in an open floor plan that includes a combined great room and dining room.

Pulte Homes is the exclusive homebuilder in five Sandoval neighborhoods of single-family homes and villas.

Sandoval offers single-family homes and villas with home and homesite packages priced from the mid-$100,000s. Single-family homesites range from 50 by 130 feet to 70 by 130 feet. Every neighborhood has city water, irrigation and sewer service in place.

Sandoval's island ambience includes Club Sandoval offering a community center and water features that include a 7,500-square-foot Lagoon Pool. The community center also offers a multi-purpose room, fitness center and catering kitchen.

For outdoor enthusiasts, the club features a sand volleyball court, four lighted tennis courts, full basketball court, multi-purpose field and bocce court. The two-mile long Esplanade walking and jogging path is a tree-lined linear park with benches, shade trees and landscaping with low berms.

Calypso Park has grills and covered picnic areas, pathways and a fishing pier extending into the 22-acre Calypso Lake, and one acre is set aside for Barkley Park, a special fenced-in place created for dogs.

With gated entries, winding streets, sidewalks and 20 lakes, Sandoval is being developed in three phases. Phase I is planned with 579 homes, and Phase II, which opened for sales in January 2006, is planned with 541 homes. At build-out, Sandoval will have 1,579 homes, all by Sandoval's preferred builders.

Sandoval's welcome center is on Veterans Parkway, west of Surfside Boulevard. On the Web at www.MeetSandoval.com.

© 2010 Naples Daily News.

Mortgage Rate Trend Index Rates wont rise, say most experts polled by Bankrate.com this week. Only 10% predict a further decline while 55% expect no change over the short term. Only 35% foresee a rise. WASHINGTON June 25, 2010 Mortgage rates fell this week to the lowest level on records dating to 1971, giving consumers added incentive to lock in low payments for home purchases and refinanced loans.

The average rate for 30-year fixed loans sank to 4.69 percent, from 4.75 percent last week, mortgage company Freddie Mac said Thursday.

That's the lowest point since Freddie Mac began tracking rates in April 1971. The previous record of 4.71 percent was set in December. Rates for 15-year and five-year mortgages also hit lows.

Mortgage rates have fallen over the past two months as nervous investors have shifted money into the safety of Treasury bonds. The demand for Treasurys has caused Treasury yields to fall. And mortgage rates tend to track the yields on long-term Treasurys.

Yet the falling rates have yet to spark a homebuying boom or energize the economy. New-home sales collapsed in May after homebuying tax credits expired. The economy also remains under pressure from high unemployment. And many people don't qualify under tightened lending rules.

"As long as prospective homebuyers are still concerned about their jobs and financial well-being, many will be reluctant to take the plunge, even though affordability has never been better," said Greg McBride, senior financial analyst with Bankrate.com.

Low rates throughout the economy also hurt one group of Americans: savers. Puny rates are especially hard on people living on fixed incomes who are earning next to nothing on their savings.

Lending activity remains sluggish. Mortgage application volume dipped 6 percent last week from a week earlier, according to the Mortgage Bankers Association. Refinancing activity fell 7 percent. And mortgage applications to buy homes slipped 1.2 percent.

Many Americans owe more on their mortgages than their homes are worth often called "under water" and can't refinance. The Obama administration has launched programs to help borrowers refinance if they owe up to 25 percent more than their home's value and have loans owned or guaranteed by mortgage giants Freddie Mac or Fannie Mae. About 291,000 homeowners have participated as of March.Yet that's a small fraction of the nearly 15 million homeowners who are under water, according to Moody's Economy.com, and cannot refinance. In hard-hit areas in Nevada and Florida, for example, home prices have fallen 50 percent or more from their highs. Record-low rates can't rescue those homeowners.

"It's not the desire to refinance; it's the ability to refinance," Chris Brown, a loan officer with Trinity Mortgage Co. in Orlando, Fla. "A lot of the people who can already have.

" Given the costs of refinancing, some mortgage experts say a refinancing can be worthwhile if you can shave at least 0.75 percentage point from an existing rate. Others suggest waiting until you can lower your rate by at least a point.

Despite some lenders' ads, refinancing is never free. A fee normally goes to the mortgage broker or lender. There are also fees for title insurance, a new appraisal, document processing and other charges. Often, mortgage brokers or lenders create the appearance of a "no fee" mortgage by adding the costs to a total loan amount or by charging a higher interest rate.

People considering refinancing should factor in such fees. They should also calculate how many months it would take to recover them. For those who expect to stay in their home for two years or less, the fees might outweigh the savings from a lower rate.

Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate, even within a given day. Rates on 15-year fixed-rate mortgages fell to an average of 4.13 percent. That was the lowest on records dating to September 1991. It was down from 4.2 percent a week earlier.

Rates on five-year adjustable-rate mortgages averaged 3.84 percent, down from 3.89 percent a week earlier. That was also the lowest on Freddie Mac's records, which date back to January 2005 for such loans.

Average rates on one-year adjustable-rate mortgages fell to 3.77 percent from 3.82 percent. That was the lowest average since May 2004.

The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.

The nationwide fee for loans in Freddie Mac's survey averaged 0.7 a point for 30-year, 5-year and 1-year loans. The average fee for 15-year loans was 0.6 of a point.

Copyright © 2010 The Associated Press, Alan Zibel, AP real estate writer. 

 WASHINGTON June 25, 2010 As previously reported, H.R. 5569, a bill to extend the authorization of the National Flood Insurance Program (NFIP) until Sept. 30, 2010, passed the full U.S. House of Representatives as a stand-alone billearlier this week. (Read previous article)

The House-passed bill went to the Senate yesterday, and the National Association of Realtors® (NAR) hoped Senators would take it up, and pass it, last evening or today. However, the Senate adjourned and the issue is now postponed until at least Monday.

NAR has already sent a letter to each U.S. Senator urging quick passage of HR 5569.With NFIP shut down for 25 days now, NAR is actively working with the Senate to take up and pass HR 5569 before Congress' July 4th recess.

Tax credit extension A separate omnibus bill that includes a separate flood insurance extension also includes language that extends the homebuyer tax credit past its June 30 closing date. However, the omnibus bill remains controversial and is not assured.

It has yet to pass either the Senate or the House. "In addition to several provisions we like in that omnibus bill, the legislation also contains provisions we're not as happy with, such as changes to the taxation on "Carried Interest," says Florida Realtors Vice President Of Public Policy

John Sebree. © 2010 Florida Realtors®

                                                                         70 Raton Drive, Milford,CT

                           BUILDING SIZE: 2,520 SF - Three units of 840 SF - ~ H vIII; f-..s 1-95, Exit 35. Right on Bic Drive to Caswell St., right on LOCATION: Shelland Street to Raton Drive 1988 YEAR BUILT: $100 per unit per month CONDO FEES Central in-wall unit provides gas, heat & air-conditioning HVAC: COMMENTS Excellent space for storage, warehousing & light assembly

For Sale or Trade . Flyers and detailed report on propery available upon request.

Call Vickie Townes 239-671-3300

Listed by, John F. Bergin Senior Vice President George J. Smtih & Son Commercial Realtors