If you have spent any time looking at Cape Coral foreclosures or Fort Myers foreclosures, chances are you have visited a home or condo that has been stripped of its appliances, cabinets, fixtures and sometimes even more.

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The Market Bottom

On December 20, 2009 By

Throughout much of 2009, the News-Press has been chock full of local Realtors discussing how our Southwest Florida real estate market has reached the bottom……and is headed upward.

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NBC-2 reports on unrecorded liens, a surprise post-closing challenge many buyers of foreclosed properties have faced in Cape Coral.

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The St. Petersburg Times reports that the bottom feeding foreclosure workout firms will face significantly more scrutiny in Florida.  These workout specialists promise miracles, typically charge a desperate homeowner a large upfront fee and then don’t do anything to help save the home from foreclosure. Here locally, there are firms operating in under the guises [...]

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Remember the AC/DC song Big Balls………well I have to say that Roger Schutt, CEO of Premier Properties of Cape Coral may have the biggest of all! Premier Properties has purchased the Cape Coral subdivsion formerly known as Pinewood Lakes from Reliance Bank, who took it back from the previous developer. The project has been re-branded [...]

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The Realtor Association of Fort Myers and the Beach released November 2009 home sales numbers which highlight significantly increased levels of activity in our market.  These figures reinforce the sentiment of our team which has been extremely busy with second home buyers looking to take advantage of our reduced home prices. Highlights from the November [...]

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Wink News reports that the foreclosure auction held last night at the Harborside Event Center netted sales of 75 homes.  Our market is still heavily weighted towards foreclosures with approximately two-thirds off all homes being sold falling into the distressed category. We continue to see significant activity mostly from second-home buyers looking to take advantage [...]

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Here is a video of a Las Vegas homeowner calling into Your Money  on Fox News.  The caller poses the question of whether he should strategically default on his underwater home.  The panelist present arguments for both sides of this debate: Where do you stand on this debate?

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The November 2009 Credit Suisse Monthly Survey of Realtors confirms what we are currently seeing in the Fort Myers market. Pre-retirement baby-boomers are taking a serious look for a second home in Southwest Florida. Our highly discounted prices are very enticing and the continued strength of the stock market this year are two of the [...]

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