Cape Coral Florida's Real Estate Guide

So, you're ready to put your Cape Coral property on the market. You've got a price in your head, because, of course, you already know how much you've invested in your property. In your mind, you've got a few figures that most likely include the amount you purchased your Cape Coral property for, as well as the amount of money you've put into remodeling projects and repairs. Add these figures together along with a nice percentage of increase and you've got your fair market value, right? ...Wrong.

Today we're going to take a look at how your real estate agent actually determines the fair market value of your Cape Coral property. Armed with this information, you'll have a realistic view of the where the listing price should be in order to create a win/win situation for both you (the seller) and the potential buyers.

Determining Factors in Fair Market Value

A qualified and knowledgeable real estate agent will not want your home to sit on the market for any length of time without qualified leads and offers. As we explained in our last article, Selling Your Cape Coral Home? Timing is Everything, a home that sits too long on the market raises red flags in the minds of the potential buyers, so determining a realistic fair market value is crucial to the success of your Cape Coral home sale.

Factors involved include:

• Condition - The current condition of your home, the year it was built, and additional features in comparison to similar homes in the area that have recently sold.
• Location - The selling price of comparable homes in your neighborhood or community.
• Chances for a quick sale - The potential asking price in combination with the chances of the home selling at that price within 1-3 months.
• Time of Year - Certain times of the year can command a better asking price. Supply and demand comes into play here as well. If you are selling a Cape Coral waterfront property and it's boating and vacation season, you're likely to have a better turnout for your open house.
• Extras - Are you located close to reputable schools, the new veterans hospital, parks, or a cultural center? Does your home have a swimming pool or a fire place? Your agent will help you market your home to the right buying niche. The fair market value can go up when these are taken into consideration and the property is offered to the correct crowd as well.
• Special Populations - Is your home located in one of the adult communities in Cape Coral, or is it the ideal Cape Coral real estate for investors? A qualified agent will use every potential to determine the best asking price.

Because of the timing involved in a successful real estate sale, you'll need an experienced and creative real estate agent to help you determine the fair market value of your Cape Coral property. Your agent will also sit down with you and guide you through the possible improvements that can be made, giving you an idea of the monetary value certain improvements or repairs can bring to your home.

Don't make the mistake of choosing a number out of the air or working with an agent who just doesn't have the necessary experience to take you every step of the way to successfully selling your Cape Coral home.

Call us today. We will sit down with you and help you determine the steps you'll need to take to make the sale of your home a headache free and financially rewarding experience.

Okay, you've made the decision to put your Cape Coral, Florida home on the market. That's the first step. Once that decision has been made, there are several practical steps your listing agent should take you through in order to achieve the results you are after. Of course you want top dollar for your home, a smooth transaction that involves qualified buyers, and you also want to accomplish this in the least amount of time possible. That's the ideal situation for any Cape Coral home sale.

Unfortunately, many uneducated sellers make critical mistakes along the way, and somehow, the home they thought would sell without a hitch sits on the market without an offer. If you want to avoid this scenario, (and who wouldn't?) then you need to be aware of the two most important factors involved in the selling process. Today we are going to look at one of those factors...Timing.

Timing is Everything

Basically, timing has to do with when you actually put your Cape Coral property on the market, or when it becomes an active listing. You may want to put your home on the market as soon as possible, because the sooner its listed, the sooner it will sell, right? Wrong.

The purchase of a home is largely an emotional decision, much like the purchase of a car. Certainly, when home buyers are viewing properties they are taking into consideration the square footage, the location, the convenience of the neighborhood, as well as the age and value of the home...but, while a potential buyer is taking all of these external factors into consideration, they are also asking themselves if the home appeals to them emotionally. Can they see themselves living in this home? Raising a family? Cooking dinner? Entertaining guests? If your home doesn't appeal to these emotional needs, it's very likely that your potential buyer will walk, and move on to the next property. How does this tie in with timing? I'm glad you asked.

First of all, a good listing agent will make sure that your Cape Coral property is ready to enter the market before listing.

• Is your property in need of updated appliances?
• Does the exterior need landscaping for additional curb appeal?
• Are there certain repairs that must be made?

Your listing agent will go through all these details with you and suggest necessary improvements.  These improvements are often much more important than the seller realizes.

Once an owner has lived in a home for a period of time, they become used to certain things that may not be attractive or acceptable to potential buyers. They may overlook those four broken tiles in the kitchen or the fact that the shrubbery didn't survive the last frost. They may not notice that water stain on the ceiling anymore. On the other hand, a good listing agent will look at the property with fresh eyes since they are well acquainted with the features potential buyers are looking for, as well as the problems that will have the buyer moving on to the next property.

Once your listing agent has assessed your home, it is vital that you make all necessary improvements and repairs before listing your Cape Coral property. Why? Because once your property is listed, the timer starts ticking. Every day that passes can raise red flags in the minds of potential buyers. When a home sits on the market too long, buyers will ask themselves...Why hasn't the home sold yet? Is there something wrong with it that I don't know about? If this was such a great deal, wouldn't other offers have come in by now?

Your home should be 100% ready to show and sell before it becomes an active listing. Don't make the mistake of putting your Cape Coral property on the market before it is move-in ready. Doing so can cause a domino effect of red flags, price reductions, and wasted time.

Ready to List Your Property?

When you list your property with us, we will take the time to make sure you are fully aware of the critical points of the selling process. We will assess your property, suggest repairs, and take you through the steps that will get you the price you are looking for in the least amount of time possible. With decades of experience buying and selling right here in Cape Coral, Florida, we guarantee your results!

  So, you want to have a seamless closing? Need to sell that Cape Coral waterfront or golf course property without a hitch? Great...I'm about to tell you how it's done.

Before you immerse yourself in the latest Cape Coral real estate statistics or look up all of the homes that recently sold in your area to compare prices...wait, I've got a secret to share with you. Experiencing a seamless closing, especially in today's market, takes a combination of two major factors. If one of them is missing, you might as well prepare yourself for a possible migraine. Here they are:

The Two Sides of the Coin

First, there is the side of the coin that involves the "basic facts and parties involved." Any one of these can potentially delay a home closing if the real estate agent isn't on top of his or her game. There is the buyer, the seller, agents, an inspector, an appraiser, and the lender. That in itself, is a lot to juggle. Wait, there's more...

For those who are selling their Cape Coral home, there are documentation requirements, possible changes in mortgage terms, or even the risk of unstable buyers. On the other end of the spectrum, buyers may run into delays due to inspection times, lender delays, or renegotiation of terms by the buyer. No amount of research on either end (buyer or seller) can prevent these possible delays from occurring.

So, what can be done? That brings us to the other side of the coin...a Cape Coral real estate agent with a proven track record who has the knowledge and forethought to continue to push ahead, avoiding the possible delays.

There are basically five steps involved in any real estate deal. Let's break them down:

1. Finding the potential deal. Whether your Cape Coral home is being sold, or you are looking for a hot investment deal, it is vital to have all the facts. Your idea of the perfect property may be very different from the next person's. At Best Cape Coral Realty your success is our goal. We get it right the first time. We waste no time matching buyers and sellers that are right for each other.
2. The initial property examination. Once we have matched buyer and seller, we give you all the facts and take you out to inspect your potential Cape Coral property. Since we live, work, and play right here in the Cape, the neighborhoods and property values are second nature to us. That's vital. Yes, we believe in the overall aesthetic value of your potential new home. But we also make sure that we match buyer and qualified seller with Cape Coral properties that have all of the features that are important to them. There is absolutely no point in showing a prospective buyer a property that is missing key elements.
3. Negotiation process. Negotiations are crucial, and we don't skirt the issue. Whether you are the seller or investor, we will guide you through a seamless negotiation process. All of our potential buyers are prequalified, so there is never a "waste of time" factor for the seller. We believe in win/win situations.
4. The inspection. A necessary step for any business deal. We make sure that the buyer feels confident about the asking price and is completely aware of anything to plan for financially.
5. Sign the papers and close the deal. Once a purchase price is agreed upon, it's time for the paperwork and closing to begin. Many first time home buyers are unaware of what this process entails. That's where our proactive agents come into play. We prepare our buyers in advance with detailed information of expected timelines, funds that will be needed, and paperwork requirements. This is one of the most crucial steps to a seamless closing. When everyone involved is on the same page and all cards are on the table, there is generally little that can go wrong.

Those are the five major factors of a Cape Coral property deal. Like I said, there are two sides to the coin....The facts, paperwork, and requirements on one side, and a real estate agent with a proven track record on the other side. You'll need both for a seamless home closing.

Here at The Best Cape Coral Realty Team, our no-nonsense approach will bring you the results you desire, guaranteed. Here's what a couple of our clients have said about us:

"I asked you to help me sell, not just one, but two homes in a very difficult Florida market....You got the job done on both homes, seamlessly... and you remained positive throughout the process! Being a Broker-Associate myself, I understand that this is not always an easy task. You kept me informed every step of the way. You have earned my respect as a fellow Realtor." --Darlene Mayernik / Prudential Fox & Roach Realtors

"From day one, Vickie and her team wasted no time delivering quality listings that fit our criteria. Vickie went the extra mile, visiting listings of interest to take separate pictures for us and give her opinion. Being an out of town buyer, this was extremely important. Once our offer was submitted, negotiated, and approved, Vickie was relentless with all the parties involved... We received constant updates as to the status of our deal...I own and manage rentals in North Carolina, but this was my first experience buying a short sale property, or buying Florida real estate in general. From property managers to handymen, Vickie has the right contacts in place to assist investors." -- Ryan Johnson / Vice President, Wells Fargo Retail Finance

Call our office today for your seamless Cape Coral closing experience!

BIRMINGHAM, Ala. - April 15, 2010 - Prior to purchase, a vast majority of first-time homebuyers (88 percent) believe that they have accounted for all expenses related to owning a home.

Seemingly contradicting that notion, among those who had purchased a home in the past 12 months, just over half indicate that the expenses were more than they had calculated, causing a change in lifestyle.

The information comes from the BBVA Compass First Time Home Buyers Online Survey, which polled American consumers about the thoughts, emotions and hurdles related to owning and enjoying a first home.

Key first-time homebuyer findings include:

• Nearly one third have anxiety over the affordability of owning a home.

• 7 in 10 indicate that the first-time homebuyer's tax credit has not truly factored into the timing of when they decide to purchase a home.

• 92 percent of respondents indicate that having additional time before their first payment due date would be helpful.

Regarding first-time homebuyers who have purchased a home in the previous 12 months, key findings included:

• 51 percent indicated that the monthly expense of owning a home was more than they calculated.

• Although 7 in 10 respondents said that the unexpected expenditures leveled out over time, another 87 percent said that they changed their lifestyle as a result of the additional expenses.

• Nearly one third indicated that they paid for these unexpected expenditures with a mixture of cash and credit, perhaps indicating a lack of liquid funds.

Both segments of first-time homebuyers were also overwhelmingly in favor of mortgages that allow breathing room between closing and the due date of the first payment. With this financial cushion, the First Time Home Buyer indicated that they would be in a better position to pay off credit cards and other bills, as well as make some of those unexpected purchases (household items and improvements) that come along with owning a home.

Research firm Qualtrics conducted the online survey of 300 first-time homebuyers between Feb. 21, 2010 and Feb. 25, 2010.

MIAMI - April 1, 2010 - The Neighborhood Assistance Corporation of America is heading back to South Florida after drawing more than 24,000 desperate homeowners to a February mortgage-modification marathon in West Palm Beach.

The nonprofit group, which offers free counseling and face-to-face contact with lender representatives, will be in Miami Beach for five days beginning April 15.

As with the Save the Dream event at the Palm Beach County Convention Center, the program at the Miami Beach Convention Center will run 24 hours a day. It will be NACA's 14th event around the country.

"We saw the demand is there," said NACA spokesman Darren Duarte about South Florida. "We had people at the end of the West Palm Beach event who didn't get to meet with a counselor and that tells us there is a need."

The group receives government grants for its work, but also earns up to $500 from lenders for successful modifications that result in at least three on-time mortgage payments.

NACA events draw people from all over the country who hope to get same-day help through the federal Making Home Affordable program, or plans offered by individual banks.

Most successful modifications include a lower interest rate or principal forbearance. New programs recently announced by Bank of America and the federal government also offer principal forgiveness in some cases.

In West Palm Beach, borrowers came from as far away as California to meet with counselors from the Boston-based group.

During the five days, counselors worked with people on about 24,330 loans, and completed 7,547 same-day payment reductions.

Workshops to prepare borrowers for the event will be conducted throughout South Florida, including at the Wellington Community Center and Royal Palm Beach Cultural Center.

Homeowners are encouraged to register for the event at www.NACA.com.
 
Copyright © 2010 The Palm Beach Post, Fla., Kimberly Miller. Distributed by McClatchy-Tribune Information Services.