Seller Financing available for New Construction Condos in Cape Coral FL

As more and more people find it hard to get financing they might like to op for finding seller's offering Seller financing.  Here in Cape Coral FL one such owner/developer is doing just that.  He is bulding Casa di Fiori a gated community in NE Cape Coral.

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The units are on one floor and right now you can choose ground floor or 2nd floor.  Each unit has it's own garage.  Condo's with their own garage is hard to find so this is a big plus.  Prices start at $114,900 for these 3 bedroom, 2 bathroom units with 1357 sq ft. Terms being offered is 10% down, 6% interest and 5 year balloon.  Call us or email us to learn about the $2000 buyer incentive being offered.  Thanks. 

Cape Coral, Fort Myers, Florida - July 1997 (Photo credit: Wikipedia)

This 5 bedroom, 5 bathroom home is in a gated community here in Cape Coral, FL. The HOA monthly fee is only $204. Features soaring ceilings, granite counter tops, crown molding, hugh lanai and much much more.

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CNN reports Cape Coral FL amoung the Top Best Places to Retire

Image via WikipediaCNN Money magazine named 25 best places to retire and put Cape Coral as number 2 on the list.  Click on the title above to see the link to the article.   Michigan is number one.  But they have cold winters. Not for me.

Fort Myers FL is listed as having a shrinking market in regards to Real Estate Properties For Sale

Image via CrunchBase

For-sale inventories shrink for fourth month in a row

Realtor.com: List prices holding steady or posting gains in two-thirds of markets

By Inman News, Wednesday, September 14, 2011.

Inventories of homes, condos, townhouses and co-ops shrank for the fourth month in a row in August, falling 1.9 percent from July and 19 percent from a year ago, to 2.27 million, according to the latest numbers from Realtor.com.
Among the 146 markets most searched by Realtor.com users, the total number of listings increased from a year ago in only three: Denver, Colo. (+53.8 percent), El Paso, Texas (+6.3 percent) and Hartford, Conn. (+2.2 percent).
Inventories were down by 10 percent or more from a year ago in 118 markets, including declines of nearly 50 percent in Miami, Orlando and Fort Myers.
Shrinking inventories can signal a rise in demand, but may also reflect a slowdown in homes moving through the foreclosure process that restricts the supply of real estate owned (REO) properties.
Areas with high unemployment rates and large numbers of seriously delinquent borrowers could again see inventories swell as lenders put the "robo signing" scandal behind them.

Related articles

• Report: Housing Inventory Hits 2011 Low (blogs.wsj.com)

Seller Financing is helping to sell a homes in Cape Coral FL

Image via Wikipedia

Seller financed homes has tripled in number in Cape Coral, FL since March 2011.  We just helped our seller sell his home by offering seller financing with a three year balloon, 6% interest and $20,000 down.  The Buyer is a business owner with a creative accountant and thus he is currently not able to get a conventional loan.  We have other buyers in similar situations.

Buyers who have a foreclosure or bankruptcy in their credit past wouldn't be a likely candidate to secure financing from a bank anytime soon for a home purchase. As a result, some sellers are stepping in to offer seller financing to get a home sold.

Seller financing, once popular in the 1980s when mortgage rates spiked to 18 percent, is making a comeback in areas flooded by foreclosures and where tight lending standards are keeping some buyers on the sidelines, reports Bloomberg News. "The market is locked up because there's no financing," says Gordon Albrecht, executive vice president of FCI Lender Services Inc. "This is moving houses."

Last year, 52,991 U.S. homes were purchased with various forms of seller financing  a 56 percent jump from 2008, according to the Realtors' Property Resource LLC. In 2010, such deals made up 1.5 percent of all transactions.

One popular form of seller financing is known as a land contract, which is when a buyer takes possession of the home but the seller holds the title until the debt is completely paid off. The loan's terms "such as down payments and interest rates" are negotiable. These arrangements usually consist of a balloon payment in five to 10 years, which is when buyers will have to repay the seller or lose the home, along with any money they already put into it.

Obtain a mortgage and get back $4000 to cover closing costs

Image via WikipediaJust got an emailed from a mortgage broker stating "we will be continuing are special of a 2% lender credit for all clients that apply for an FHA mortgage and are approved.  For example if 'your client' borrows $200k we will give them $4000.00 toward closing costs! At the same time we are able to offer a very low rate in the low 4's. So far our clients have loved this offer and told us that no other lender that they have shopped with can touch this offer.

Cape Coral No. 2 in Nation for best place to retire

Image via WikipediaIn an article entitled, "25 Best Places to Retire" CNN Money Magazine listed Cape Coral, Fl as number two on the list. Cape Coral currently has a median home price at $154,000 and a cost of living index at 95.  38% of the population is 50 years or older and the city offers many clubs and organizations.  With 154,000 residents the city still maintains a home town atmosphere.