Pending Home Sales Up Strongly
WASHINGTON, D.C. - Pending home sales activity surged as buyers took advantage of low home prices and affordable interest rates, according to the National Association of Realtors®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, jumped 7.4 percent to 93.4 from an upwardly revised reading of 87.0 in July, and is 8.8 percent higher than August 2007 when it stood at 85.8. The index is at the highest level since June 2007 when it stood at 101.4.
Lawrence Yun, NAR chief economist, said home buyers were responding to improved affordability. “What we’re seeing is the momentum of people taking advantage of low home prices, with pending home sales up strongly in California, Nevada, Arizona, Florida, Rhode Island and the Washington, D.C., region,” he said. "It’s unclear how much contract activity may be impacted by the credit disruptions on Wall Street, but we’re hopeful most of the increase will translate into closed existing-home sales.”
The PHSI in the West surged 18.4 percent to 109.5 in August and remains 37.8 percent above a year ago. In the Northeast the index jumped 8.4 percent to 79.8 and is 2.0 percent higher than August 2007. The index in the Midwest rose 3.6 percent to 84.5 in August and is 6.6 percent above a year ago. In the South, the index increased 2.3 percent to 96.0 but is 2.1 percent below August 2007.
Yun notes the unusual timing of contract activity in August. “Home buyers in July were hampered by overly stringent lending criteria in the months before the government takeover of Fannie and Freddie,” he said. “August shows some unleashing of pent-up demand before the credit crisis accelerated in September.”
He cautioned that the sampling size for pending home sales is smaller than the track on existing-home sales, so there is more volatility in the forward-looking series. “We need to see just how much of this gain holds up,” Yun said.
NAR President Richard F. Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said despite all the turmoil in world financial markets, home mortgages are available. “Mortgages have been harder to find, and availability and terms vary depending on credit score and location, but Realtors® can help buyers find reputable lenders while helping them navigate the transaction process,” he said. “The recently enacted economic stimulus package should help housing by gradually freeing the flow of credit.”
Yun now expects growth in the U.S. gross domestic product (GDP) to contract for two consecutive quarters, in the fourth quarter of this year and the first quarter of 2009, before expanding in latter part of 2009 as the housing market begins a steady improvement.
Looking at middle-ground assumptions, existing-home sales are forecast at 5.04 million this year and 5.41 million in 2009. Following national declines of 5 to 8 percent in 2008, home prices are projected to increase 2 to 3 percent next year.
New-home sales should total around 503,000 this year and 471,000 in 2009. Housing starts, including multifamily units, are likely to fall 28.2 percent to 973,000 units this year, and come in around 843,000 in 2009 as builders continue to clear the accumulation in inventory.
The 30-year fixed-rate mortgage will probably average 6.1 percent in the fourth quarter and rise gradually to 6.6 percent by the end of 2009. NAR’s housing affordability index is expected to average 18 percentage points higher this year than in 2007.
The unemployment rate is projected to average 6.4 percent in the fourth quarter and then average 6.6 percent in 2009. Inflation, as measured by the Consumer Price Index, is estimated at 4.0 percent for 2008 and 2.0 percent next year. Inflation-adjusted disposable personal income is forecast to grow 1.7 percent this year and 1.0 percent in 2009.
Reprinted from National Realty News:
http://nationalrealtynews.com/content/templates/standard.aspx?articleid=1278&zoneid=1
Monday, October 13, 2008
Saturday, October 11, 2008
Why Wait for a Wall Street Recover - Use Your Stock Portfolio Now
NO RECOURSE - NO MARGIN CALL
Why Wait Out the Wall Street Crisis?
Regardless of What the Stock Market May Do, Our Stock Loan is UNAFFECTED.
For more information, please visit our website: http://www.HedgeLender.com
That's right; unaffected. And that means full steam ahead for you and our other stock loan clients. We're ready today to assist small-to-medium-sized business directors, individual shareholders, or those with current financial dilemmas caused by the recent freeze in the credit markets.
Need some ideas? Here are two recent questions and our answers...
1) Enhance Your Down payment - A Mortgage-Rescue Stock Loan Solution
"I have a $10 million real estate project that's now in danger of halting because my bank is demanding a huge increase in the down payment, this despite my excellent credit rating! I do have stocks, but don't want to sell them because they've dropped like rocks with the falling stock market - valued at only about 50% less than what I paid for them a year ago. I'd hate to sell at a loss. Is there any other way to raise the down payment capital needed to release the loan funds for your project? HELP!"
The Stock Loan Solution: Relax, you are covered. By placing your stocks as guarantee for your Loan, you can get 85% - for good stocks even 90% - of the value of your portfolio today, when you need it, which should be more than enough to cover the needed additional down payment funds and still get the project moving. Best of all, you remain beneficial owner of the shares while they remain in lender custody. On a three year term, you can quickly close a NON-RECOURSE stock loan with no interest payments due until maturity, at which time the stocks will have a good chance of recovering their initial value, if not more. You can then exit your loan at maturity by asking the lender to sell enough shares to pay off the loan, and recoup the remaining profit in shares or cash. In such case you win around the board; your project gets funded, and you walk away "in the money" with stocks or cash. And if the stocks fall in value? Again, you're covered. It's a non-recourse loan, so you can walk away, and your project gets funded. Since you've suffered a loss on your stocks, you may even have a favorable tax result as well (consult only with a licensed tax professional for a precise determination of tax status).
2) Get Your IRA Off the Couch - Turbo-boost with an IRA Stock Loan
"As they say one man's misfortune is another man's opportunity. Looking at the massive drops in the stock market I have to think there are bargains galore for the stocks of otherwise soundly managed companies. I'd love to get into that but I want to stay protected. My IRA is worth about $500,000. What can I do with this?"
The Stock Solution: We'll place you into our IRA Stock Loan program and handle the stock loan side of the process while our partner firm (made up of licensed financial planners and insurance experts) will guide you to a temporary dissolution of your IRA, purchase of stocks, placement of stocks in to a Stock Loan, and re-purchase of annuities to re-stock your IRA within the statutory limit. Our firm provides the loan only; all other facets are handled 100% by licensed professionals in compliance with regulations.
The result? You'll have a healthy IRA producing annuity income (or building value) while remaining "in the market" as beneficial owner of your carefully selected 'bargain' stocks. By the time the loan term is up in 3-5 years, if you picked with care, your portfolio will be worth much more in a healthy economy and you can use that to have the lender sell enough shares to pay off the loan, while you recoup the upside profit as shares or stock, whatever you prefer. You've thus profited from the market, while retaining your IRA.
Quick funding – If your stocks are in "electronic form" already at your brokerage, and you can move them quickly, we can have your cash in hand in as few as 72 hours.
For more information, please visit our website: http://www.HedgeLender.com
Thank you for the opportunity to earn your business.
All the best,
--Branon A. Edwards
Why Wait Out the Wall Street Crisis?
Regardless of What the Stock Market May Do, Our Stock Loan is UNAFFECTED.
For more information, please visit our website: http://www.HedgeLender.com
That's right; unaffected. And that means full steam ahead for you and our other stock loan clients. We're ready today to assist small-to-medium-sized business directors, individual shareholders, or those with current financial dilemmas caused by the recent freeze in the credit markets.
Need some ideas? Here are two recent questions and our answers...
1) Enhance Your Down payment - A Mortgage-Rescue Stock Loan Solution
"I have a $10 million real estate project that's now in danger of halting because my bank is demanding a huge increase in the down payment, this despite my excellent credit rating! I do have stocks, but don't want to sell them because they've dropped like rocks with the falling stock market - valued at only about 50% less than what I paid for them a year ago. I'd hate to sell at a loss. Is there any other way to raise the down payment capital needed to release the loan funds for your project? HELP!"
The Stock Loan Solution: Relax, you are covered. By placing your stocks as guarantee for your Loan, you can get 85% - for good stocks even 90% - of the value of your portfolio today, when you need it, which should be more than enough to cover the needed additional down payment funds and still get the project moving. Best of all, you remain beneficial owner of the shares while they remain in lender custody. On a three year term, you can quickly close a NON-RECOURSE stock loan with no interest payments due until maturity, at which time the stocks will have a good chance of recovering their initial value, if not more. You can then exit your loan at maturity by asking the lender to sell enough shares to pay off the loan, and recoup the remaining profit in shares or cash. In such case you win around the board; your project gets funded, and you walk away "in the money" with stocks or cash. And if the stocks fall in value? Again, you're covered. It's a non-recourse loan, so you can walk away, and your project gets funded. Since you've suffered a loss on your stocks, you may even have a favorable tax result as well (consult only with a licensed tax professional for a precise determination of tax status).
2) Get Your IRA Off the Couch - Turbo-boost with an IRA Stock Loan
"As they say one man's misfortune is another man's opportunity. Looking at the massive drops in the stock market I have to think there are bargains galore for the stocks of otherwise soundly managed companies. I'd love to get into that but I want to stay protected. My IRA is worth about $500,000. What can I do with this?"
The Stock Solution: We'll place you into our IRA Stock Loan program and handle the stock loan side of the process while our partner firm (made up of licensed financial planners and insurance experts) will guide you to a temporary dissolution of your IRA, purchase of stocks, placement of stocks in to a Stock Loan, and re-purchase of annuities to re-stock your IRA within the statutory limit. Our firm provides the loan only; all other facets are handled 100% by licensed professionals in compliance with regulations.
The result? You'll have a healthy IRA producing annuity income (or building value) while remaining "in the market" as beneficial owner of your carefully selected 'bargain' stocks. By the time the loan term is up in 3-5 years, if you picked with care, your portfolio will be worth much more in a healthy economy and you can use that to have the lender sell enough shares to pay off the loan, while you recoup the upside profit as shares or stock, whatever you prefer. You've thus profited from the market, while retaining your IRA.
Quick funding – If your stocks are in "electronic form" already at your brokerage, and you can move them quickly, we can have your cash in hand in as few as 72 hours.
For more information, please visit our website: http://www.HedgeLender.com
Thank you for the opportunity to earn your business.
All the best,
--Branon A. Edwards
Friday, September 26, 2008
Home Sales Up, Prices Down in South Florida
Realtors: August home sales up, prices down in South Florida
Reprinted from The Miami Herald
BY Matthew Haggmann
South Florida home sales jumped in August amid signs that lower prices are drawing buyers back into the region's long-struggling housing market.
Sales of existing single-family homes in Miami-Dade County increased 22 percent and Broward County sales increased 12 percent compared to the same period a year ago, according to numbers released Wednesday by the Florida Association of Realtors.
Condominium sales were up 13 percent in Miami-Dade, while condo activity in Broward for the month was even compared to August 2007.
A big reason for increased sales appears to be healthy price drops. Prices were at least 20 percent lower in August than a year ago for single-family homes and condos in both Miami-Dade and Broward counties.
The median price for a Miami-Dade single-family home was $276,000 in August, amounting to a 30 percent drop from last year. For Broward single-family homes, the median price was $269,800, down 27 percent.
The median condo price in Miami-Dade was $210,400; it was $133,300 in Broward.
The outsized inventory of residences for sale also declined in August. Market watchers say the number of homes on the market must shrink significantly -- creating a better balance between buyers and sellers -- before prices start rising again.
The South Florida results were in contrast to the rest of the country.
Nationally, sales of existing U.S. homes fell by 2.2 percent in August, though the number of unsold homes on the market also dropped sharply from the previous month's record high.
The National Association of Realtors said sales fell to a seasonally adjusted annual rate of 4.91 million units, from an upwardly revised pace of 5.02 million in July. Sales had been expected to fall by 1.6 percent, according to economists surveyed by Thomson/IFR.
The median price of an existing home dropped to $203,100 from $224,400 a year ago. For single-family houses, the median price dropped 9.7 percent, the biggest decline since records began in 1968.
Resales account for about 90 percent of the market, while purchases of new homes make up the rest. Sales of existing homes are compiled from contract closings and may reflect contracts signed one or two months earlier.
There were 4.2 million unsold homes on the market, a 7 percent drop from the record set in July. It was the steepest drop in inventory since December 2006.
Reprinted from the Miami Herald: http://www.miamiherald.com/business/real-estate/story/699288.html
Reprinted from The Miami Herald
BY Matthew Haggmann
South Florida home sales jumped in August amid signs that lower prices are drawing buyers back into the region's long-struggling housing market.
Sales of existing single-family homes in Miami-Dade County increased 22 percent and Broward County sales increased 12 percent compared to the same period a year ago, according to numbers released Wednesday by the Florida Association of Realtors.
Condominium sales were up 13 percent in Miami-Dade, while condo activity in Broward for the month was even compared to August 2007.
A big reason for increased sales appears to be healthy price drops. Prices were at least 20 percent lower in August than a year ago for single-family homes and condos in both Miami-Dade and Broward counties.
The median price for a Miami-Dade single-family home was $276,000 in August, amounting to a 30 percent drop from last year. For Broward single-family homes, the median price was $269,800, down 27 percent.
The median condo price in Miami-Dade was $210,400; it was $133,300 in Broward.
The outsized inventory of residences for sale also declined in August. Market watchers say the number of homes on the market must shrink significantly -- creating a better balance between buyers and sellers -- before prices start rising again.
The South Florida results were in contrast to the rest of the country.
Nationally, sales of existing U.S. homes fell by 2.2 percent in August, though the number of unsold homes on the market also dropped sharply from the previous month's record high.
The National Association of Realtors said sales fell to a seasonally adjusted annual rate of 4.91 million units, from an upwardly revised pace of 5.02 million in July. Sales had been expected to fall by 1.6 percent, according to economists surveyed by Thomson/IFR.
The median price of an existing home dropped to $203,100 from $224,400 a year ago. For single-family houses, the median price dropped 9.7 percent, the biggest decline since records began in 1968.
Resales account for about 90 percent of the market, while purchases of new homes make up the rest. Sales of existing homes are compiled from contract closings and may reflect contracts signed one or two months earlier.
There were 4.2 million unsold homes on the market, a 7 percent drop from the record set in July. It was the steepest drop in inventory since December 2006.
Reprinted from the Miami Herald: http://www.miamiherald.com/business/real-estate/story/699288.html
Tuesday, September 9, 2008
What the Government Takeover of Fannie Mae & Freddie Mac Means to the Housing Industry
What the Government Takeover of Fannie Mae and Freddie Mac Means to Housing Industry
Reprinted from the National Association of Realtors
In short-term, home sales should improve as mortgage rates fall
Washington, D.C. (September 8, 2008)-The federal government's takeover of secondary mortgage giants Fannie Mae and Freddie Mac should cause a drop in mortgage rates in the short term that benefits home buyers, but the long-term outlook is too early to call. NAR fully supports the action of the U.S. Treasury and the Federal Housing Finance Agency.
The federal government had no choice. The capital situation of the two companies was not enough to handle the fallout from rising mortgage defaults in the near future. In addition, investors who purchase Fannie Mae and Freddie Mac debt have lost confidence in the two.
In a statement, NAR commended the Treasury's action, announced yesterday, to bring stability and continued liquidity to the mortgage market.
"The plan will help restore confidence in the secondary mortgage market," said NAR President Richard F. Gaylord.
"We appreciate the steps taken to calm the market, make mortgages more widely available and protect taxpayers. We look forward to working with the administration and Congress to ensure the continued vibrancy of the secondary mortgage market.
Summary of what the Treasury actually did and what it means
Talking Points
Reprinted from the National Association of Realtors
In short-term, home sales should improve as mortgage rates fall
Washington, D.C. (September 8, 2008)-The federal government's takeover of secondary mortgage giants Fannie Mae and Freddie Mac should cause a drop in mortgage rates in the short term that benefits home buyers, but the long-term outlook is too early to call. NAR fully supports the action of the U.S. Treasury and the Federal Housing Finance Agency.
The federal government had no choice. The capital situation of the two companies was not enough to handle the fallout from rising mortgage defaults in the near future. In addition, investors who purchase Fannie Mae and Freddie Mac debt have lost confidence in the two.
In a statement, NAR commended the Treasury's action, announced yesterday, to bring stability and continued liquidity to the mortgage market.
"The plan will help restore confidence in the secondary mortgage market," said NAR President Richard F. Gaylord.
"We appreciate the steps taken to calm the market, make mortgages more widely available and protect taxpayers. We look forward to working with the administration and Congress to ensure the continued vibrancy of the secondary mortgage market.
Summary of what the Treasury actually did and what it means
- In the takeover, Treasury placed the GSEs into a conservatorship-similar to a Chapter 11 bankruptcy- which fully protects taxpayers from conflicts of interest between taxpayers and shareholders or current management.
- The federal government is authorized to take up to an 80 percent stake in the companies, will review their financial condition quarterly, and inject money into the operations as needed. That means the market for GSE securities will be treated more like Treasury obligations, which should push mortgage interest rates down. That in turn, is expected to speed up home sales and help stabilize home prices.
- The GSEs will be allowed to increase their mortgage funding over the next year and a half to help stabilize markets. Starting in 2010, the plan calls for them to reduce their portfolios.
- The heads of Fannie Mae and Freddie Mac have been relieved of their duties. Treasury selected Herbert Allison, former Merrill Lynch vice chairman, to lead Fannie Mae, and David Moffett, former U.S. Bancorp CFO, to guide Freddie Mac.
Talking Points
- NAR, as the leading advocate for homeownership and housing issues, has closely monitored the market turmoil affecting the stock and debts of the two government-sponsored enterprises (GSEs) - Fannie Mae and Freddie Mac. Their mission is crucial to the economy to make fair and affordable mortgages available to home owners and home buyers. That mission must not be interrupted.
- Fannie Mae and Freddie Mac play a vital role in the U.S. economy by making fair and affordable mortgage loans available for home buyers and owners. That must not be interrupted. Treasury Secretary Henry M. Paulson Jr. and James B.Lockhart III, director of the Federal Housing Finance Agency that regulates Fannie Mae and Freddie Mac, have issued strong statements assuring the public that credit will continue to flow over the next 12 to 18 months.
- Short term, the takeover will result in government money driving down interest rates, which is expected to spur an increase in home sales.
- Long term, the action will lead to a major reorganization of the two GSEs as privately owned models. The brunt of that work will fall to the new administration and new Congress. NAR will help shape that process and the association is already working on a plan to do that.
- The action taking by Treasury and the FHFA, which regulates GSEs, makes clear the government will not let the deteriorating conditions of the GSEs disrupt the flow of capital to the housing sector, or harm the national and international financial system.
- The GSEs guarantee more than 40 percent of the nation's mortgages and own or guarantee more than $5 trillion in mortgages. Since the credit crunch began in August 2007, the private sector mortgage securitization market has virtually disappeared and the market share of the GSEs has jumped to about 70 percent.
- NAR will continue to follow events closely and develop recommendations on the future of the GSEs' mission to ensure there will be a robust secondary mortgage market in all markets.
Thursday, September 4, 2008
Florida Condo Prices Hit Bottom?
Real Estate Vultures Think Florida Condo Prices Have Hit Bottom
Reprinted from Florida Association of Realtors
MIAMI – Sept. 4, 2008 – Trying to time the real estate market and planning to buy once it hits bottom? Get your checkbook.
Condo Vultures LLC owner Peter Zalewski believes the recent purchase of 120 condominiums in Miami’s 50 Biscayne Blvd. tower, by the Philadelphia-based private equity firm Lubert-Adler Partners LP and Related Group of Florida, will usher in a wave of investors looking to snap up distressed properties in the region.
Jack McCabe of McCabe Research & Consulting LLC believes these vulture buyers are an indication that the housing market has bottomed out, and he believes ongoing foreclosure sales could extend the bottom for a few years. He says that vulture investors plan to spend $30 billion or more on distressed housing in the Sunshine State.
However, Lewis Goodkin of Goodkin Consulting Group says prices need to be reduced to about 50 cents on the dollar to attract investors.
Downtown Miami will see the opening of 11,551 condos this year, which is a five-year supply, according to MetroStudy regional director Brad Hunter.
Source: Bloomberg (09/04/08) Ivry, Bob
© Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688
Ready to Buy? Click Here
Reprinted from Florida Association of Realtors
MIAMI – Sept. 4, 2008 – Trying to time the real estate market and planning to buy once it hits bottom? Get your checkbook.
Condo Vultures LLC owner Peter Zalewski believes the recent purchase of 120 condominiums in Miami’s 50 Biscayne Blvd. tower, by the Philadelphia-based private equity firm Lubert-Adler Partners LP and Related Group of Florida, will usher in a wave of investors looking to snap up distressed properties in the region. Jack McCabe of McCabe Research & Consulting LLC believes these vulture buyers are an indication that the housing market has bottomed out, and he believes ongoing foreclosure sales could extend the bottom for a few years. He says that vulture investors plan to spend $30 billion or more on distressed housing in the Sunshine State.
However, Lewis Goodkin of Goodkin Consulting Group says prices need to be reduced to about 50 cents on the dollar to attract investors.
Downtown Miami will see the opening of 11,551 condos this year, which is a five-year supply, according to MetroStudy regional director Brad Hunter.
Source: Bloomberg (09/04/08) Ivry, Bob
© Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688
Ready to Buy? Click Here
Friday, March 21, 2008
Building Lots on Pine Island from the $40s
Located in the quaint historic fishing port of St. James City, on the southern tip of Pine Island, it is one of the most unique in Southwest Florida. Pine Island is part of the Intracoastal Waterway which connects the entire coast of Florida through the Pine Island Sound, Charlotte Harbor, and Boca Grande Pass. These northern barrier islands, form the gateway to what is commonly called the “Ten Thousand Islands,” they also produce some of the best tarpon fishing in the world. These islands form a waterway that runs along Florida’s west coast, south to the Florida Keys. St. James City is located a short drive to Cape Coral and Ft. Myers, which are some of the fastest growing areas in the country. They offer world class dining, an abundance of shopping, a variety of entertainment and many cultural events.
"Little Palm Village" has everything an active family could wish: small in-town home sites located within walking distance of all St. James City has to offer. The development is enhanced by the surrounding ambiance of this historic waterfront town and hundreds of beautiful estuaries and waterways that surround the islands. In addition, the development offers property owners close proximity to boat storage and docking facilities located within blocks of their property. The local channels offer deep water and easy Gulf access. Residents can further enjoy the full service marinas, charter fishing boats and multiple waterfront restaurants within walking distance from their home. Little "Little Palm Village" is designed to give you some of the best local “Old Florida” flavor and the famous “Key West” lifestyle that Pine Island offers its residents everyday of the year.
Sunday, March 9, 2008
Cape Coral Gulf Access Home - Reduced $190,000!
Priced Well Below Market Value for Quick Sale!
2540 SW 36th Lane
Cape Coral, FL
3-Bedrooms / 2-Baths / 2-Car Garage
U-shaped Captain's Dock with 7,000-lb Lift
Originally $650,000
Priced for Immediate Sale at $459,900!
Webpage:
http://www.InvestFloridaRealty.com/listings/gulf-access.htm
Virtual Tour:
http://www.realtourvision.com/tour.display.new.php?utl=RE-1066-BL41R1-01
Absolutely gorgeous waterfront home in Cape Coral on saltwater canal with access to the Gulf of Mexico. This lovely home has been exquisitely maintained and decorator furnished. The decorator furnishings are available, but are not included in the asking price. The split floor plan provides privacy with a separate master suite with pool access and beautiful water views. The master closet also includes a secure 'owner's closet' as well. The home features stylish neutral ceramic tile throughout and cathedral ceilings with custom light fixtures. The living room offers a built-in entertainment center with lighting and overlooks the pool with floor-to-ceiling sliding glass doors that literally open the entire expanse of the living room to the pool deck. The pool area has a covered entertaining area and a full screened pool cage. With a Southern exposure, the heated pool also enjoys direct sun throughout the day. The 6-person jacuzzi also overlooks the boat dock and water views.
The modern gourmet kitchen includes a full pantry, custom silestone counter tops, raised panel cabinetry, double stainless steel sink, a large breakfast bar, and all the appliances. The spacious dining room also overlooks the pool and water views. There is a separate laundry room complete with large basin laundry tub and the washer and dryer are included in the sale.Energy efficient windows throughout the home offer custom draperies and plantation style shutters. The two-car garage offers additional storage cabinetry and a pull-down attic access for additional storage. The home also features an upgraded metal roof with additional strengthening added during the construction process.
Lush tropical landscaping adds to the beauty of this amazing home and a custom built Captain's dock provides not only a 7,000 boat lift to keep your yacht high and dry, but also walkway access on both sides of your boat. A custom tiki hut has also been added to the dock along with a direct walkway from the pool area to the dock. You will have Gulf Access under one fixed bridge (approximately 9-feet) and through the Cape Harbour boat lock, with exceptionally convenient attended operating hours. Take your boat to dinner at Rum Runner's at the marina, to any of the many restaurants on the Caloosahatchee River, or maybe escape for a day of fishing in the Gulf of Mexico. At leisure speeds, you are just 35 minutes to the lock and a total of 45 minutes to the River. Sanibel Pass Bridge that welcomes you into the open Gulf is just an hour away.
Of course, the home is conveniently located just minutes away from downtown, but is also just minutes to Burnt Store Marina and on to Punta Gorda. The location puts you in the heart of it all without the hustle and bustle of city life.
Even your pickiest buyers will be impressed by the loving care that this home continues to receive from its current owners. If you're looking to move right in without a care in the world, this home will be perfect for you and your family. Easy to show - just give us a call!
As always, thank you for the opportunity to earn your business.
All the best,
--Branon A. Edwards
Licensed Real Estate Broker
Aqualand Realty, Inc
786-417-4910
2540 SW 36th Lane
Cape Coral, FL
3-Bedrooms / 2-Baths / 2-Car Garage
U-shaped Captain's Dock with 7,000-lb Lift
Originally $650,000
Priced for Immediate Sale at $459,900!
Webpage:
http://www.InvestFloridaRealty.com/listings/gulf-access.htm
Virtual Tour:
http://www.realtourvision.com/tour.display.new.php?utl=RE-1066-BL41R1-01
Absolutely gorgeous waterfront home in Cape Coral on saltwater canal with access to the Gulf of Mexico. This lovely home has been exquisitely maintained and decorator furnished. The decorator furnishings are available, but are not included in the asking price. The split floor plan provides privacy with a separate master suite with pool access and beautiful water views. The master closet also includes a secure 'owner's closet' as well. The home features stylish neutral ceramic tile throughout and cathedral ceilings with custom light fixtures. The living room offers a built-in entertainment center with lighting and overlooks the pool with floor-to-ceiling sliding glass doors that literally open the entire expanse of the living room to the pool deck. The pool area has a covered entertaining area and a full screened pool cage. With a Southern exposure, the heated pool also enjoys direct sun throughout the day. The 6-person jacuzzi also overlooks the boat dock and water views.
The modern gourmet kitchen includes a full pantry, custom silestone counter tops, raised panel cabinetry, double stainless steel sink, a large breakfast bar, and all the appliances. The spacious dining room also overlooks the pool and water views. There is a separate laundry room complete with large basin laundry tub and the washer and dryer are included in the sale.Energy efficient windows throughout the home offer custom draperies and plantation style shutters. The two-car garage offers additional storage cabinetry and a pull-down attic access for additional storage. The home also features an upgraded metal roof with additional strengthening added during the construction process.Lush tropical landscaping adds to the beauty of this amazing home and a custom built Captain's dock provides not only a 7,000 boat lift to keep your yacht high and dry, but also walkway access on both sides of your boat. A custom tiki hut has also been added to the dock along with a direct walkway from the pool area to the dock. You will have Gulf Access under one fixed bridge (approximately 9-feet) and through the Cape Harbour boat lock, with exceptionally convenient attended operating hours. Take your boat to dinner at Rum Runner's at the marina, to any of the many restaurants on the Caloosahatchee River, or maybe escape for a day of fishing in the Gulf of Mexico. At leisure speeds, you are just 35 minutes to the lock and a total of 45 minutes to the River. Sanibel Pass Bridge that welcomes you into the open Gulf is just an hour away.
Of course, the home is conveniently located just minutes away from downtown, but is also just minutes to Burnt Store Marina and on to Punta Gorda. The location puts you in the heart of it all without the hustle and bustle of city life.Even your pickiest buyers will be impressed by the loving care that this home continues to receive from its current owners. If you're looking to move right in without a care in the world, this home will be perfect for you and your family. Easy to show - just give us a call!
As always, thank you for the opportunity to earn your business.
All the best,
--Branon A. Edwards
Licensed Real Estate Broker
Aqualand Realty, Inc
786-417-4910
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