Cape Coral the man made Florida heaven, was created just over 50 years ago, between Miami and Tampa, linking lakes, the Caloosahatchee River, and the waters around the Gulf of Mexico, to form one idyllic location. Possessing around 15 times more canals than Venice, it is obvious why this city is recognized as being one of the best places to take up residence in the entire US.
The real estate in the area is booming, with large inventories of listings for first time buyers, foreclosures, commercial properties, seasonal rentals, or simple investments, all on offer from specialist realty groups. These companies will undertake duties on behalf of both buyers and sellers, providing all the necessary marketing, pricing and through closing information, plus demographic facts and figures regarding the chosen neighborhood, to enable an informed decision to be made.
Cape Coral has some fabulous designer homes along the waterfront and many people take up the opportunity of a short sale option, whereby the lender accepts less money than is actually owed, thus allowing the home to be sold for a sum that is less than the balance on the mortgage. This does unfortunately have some tax implications, as the seller may be deemed liable, as a form of avoidance. These short sales are also more time consuming than those that could be classed as a regular sales, as the contracts becomes more complex.
For many, the shorted sale - as it is also referred to, is equivalent to a small windfall. They suddenly appear to have saved a huge chunk of money, and in most cases this can be a reality, but these types of situations can often follow a downturn in the real estate market, and it is always advisable to consult with an experienced realtor, to ensure that all angles are covered, otherwise there could be a nasty shock lurking behind some small print. An example of this would be where a lender might agree to a short sale, but they still retain the right to collect the outstanding balance on the original loan. These are basic financial matters that should not dissuade people from going down the short sale route, if that is the most suitable to their circumstances.
A genuine realtor will be a member of the National Association of Realtors, which has been in existence since 1908. Local associations, such as those in the Florida area, are required to enforce a Code of Ethics through a Professional Standards Committee, which evaluate all collated evidence, gathered from either complaints, or disputes, on public matters. Transgressions can result in discipline of varying strengths, ranging from written warnings, right through to exclusion of membership, and a hefty fine. This protects the real estate profession on both sides of the fence and means that when dealing with a realtor who can demonstrate that they are part of this organization, a client can do so with a high degree of trust.
Cape Coral's seasonal residents, which make up 20% of the population, bring the place to life in the summer months, but the city is a wonderful place to live any time of the year anyway, as the real estate market bears evidence.
The Cape Coral realty market continues to attract huge interest with listings galore as a visit to www.floridacapecoralrealestate.com will testify. Affordability obviously plays a major part and the short sale transaction is a popular option.