Getting the Most Money for your Home!

Posted in Bob Ashworth, Bob Ashworth Realtor, Cape Coral Real Estate, Cape Coral Real Estate Market, Cape Coral Realtor, FL Real Estate Market Update, Florida Housing Market, Florida Real Estate, Fort Myers Real Estate, Home Selling tips, Home Tips, Real Estate Market, Sell Your Home Now, Selling your Home, SWFL Home Selling Advice, SWFL Home Tips, SWFL Real Estate

SWFL Home Selling Tips

Pricing your home to sell for max amount.

There are a number of important factors to selling your home for the highest amount of money possible. Effective marketing of course is important, but so is pricing the home correctly for the market conditions that exist.

Cape Coral Remax Homes for SaleIn my business of listing homes for sale in and around Cape Coral & Lee County, Florida, I encounter sellers all the time who are unwilling to price their home for the market. There’s a plethora of excuses though mostly it’s due to a lack of understanding of what it actually takes to sell a home.

Most sellers think that they have to leave enough room between their list price and the price that they are willing to sell for so that the buyer can feel like they made a good deal in the negotiation. While it’s true that buyers rarely offer what they are willing to pay, they are also expecting the seller to counter offer and meet somewhere in the middle. Let me clarify that by saying somewhere in the middle doesn’t necessarily mean the middle. It just means not the list price, but certainly not the offer price. There’s more to it than that.

Nearly all buyers get to know the market by home shopping for a bit before finding the home they wish to offer on. They are at a distinct advantage over the sellers who typically haven’t actually seen any homes on the market other than their own.

Sellers and buyers for that matter, aren’t necessarily skilled at the art of negotiation. Oh sure most of them think they are, but they don’t know what they don’t know.

A couple of recent scenarios come to mind.

Lee County Home Selling tipsScenario #1

The first one is a nice listing in SW Cape Coral not on a canal but in a desirable neighborhood across from sailboat access to the Gulf of Mexico canal homes. My discussion with the owner prior to listing was about, of course, my marketing plan – My Unique Home Selling System. We also discussed my professional opinion of the homes market value along with data to support my opinion. The opinion was that the home’s fair market value was right around $250,000. Maybe a little more maybe a little less, but not less than about $245,000. I recommended a list price of $259,000, the seller insisted on $269,000. So I listed the home at $269,000 with the caveat that if that price doesn’t work with the buyers after a couple of months that we would have to reduce it to get it sold.

A home priced right is half sold!

So even though this home was just a little overpriced, we never got any offers on it. We had a number of showings. Fifteen plus in fact, but no offers. Finally after nearly 6 months on the market the seller reluctantly agreed to reduce the list price to my originally suggested price of $259,000. Miraculously within 2 weeks we had a good solid offer in hand. A negotiation ensued and we were able to get the buyer to pay $254,000. We didn’t need to wait six months for the same outcome that we could have attained earlier had we priced it right from the start or shortly there after.

So, don’t hire a professional to help you get a job done, then ignore his counselling. It’s just a waste of everyone’s time.

Selling Tips SWFLScenario #2

A recent listing where the seller is motivated to sell but needs to get every last dollar possible as he is forced to sell at a loss. My professional opinion on the value of his home is $114,000 +/-. I indicated that we might need to price it at $119,900 to get activity, but let’s try $125,000 to start as I never want to under price a home. Low and behold 2 weeks into the listing, hundreds of online views by buyers, though not a single showing request.

I advised the client that we should now reduce to the $119,900 price point to stimulate activity. He took my advise and granted the reduction. Within 8 hours we had 2 showings set up. Within the first week at the new price we’ve had 6 more showings with a couple of buyers considering an offer.

How can I help you realize your highest sale price possible? Lets get together for a no pressure market analysis and marketing plan where we can discuss your situation.

SWFL Remax Real Estate Services

As a Southwest Florida Real Estate Agent it’s my job to educate my clients and help them get exactly what they want and make sure their best interest are being considered in every detail of the purchase. This blog is all about educating you and empowering you with all the industry news, information, tips and things to consider before buying or selling your home. If you found this article interesting and know someone else that might benefit from it please feel free to share!

SWFL Real Estate

We invite you to like us on facebook, connect with us on Google+, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

Like us on Facebook   Follow us on Twitter  View our profile on LinkedIn  Visit our blog  Find us on Yelp   Find us on Google+

Bob Ashworth Remax Realty Team

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
Bob.Ashworth@gmail.com
www.BobAshworth.com

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Cape Coral Makes the Top 10 Places to Invest in Florida!

Posted in Bob Ashworth, Bob Ashworth Realtor, Business Growth, Buying a Condo, Buying a Home, Buying a Home in SWFL, Buying a Home SWFL, Buying Tips, Cape Coral News, Cape Coral Real Estate, Cape Coral Real Estate Market, Cape Coral Realtor, FL Real Estate Market Update, Florida Housing Market, Florida Real Estate, Florida Real Estate News, Housing Market Update, Real Estate Investment, Real Estate Market, Real Estate News, SWFL Real Estate, SWFL Real Estate Investing

Florida Living

We’re always on the lookout for good articles to share with you and today we bring you an exciting one! Cape Coral made the Top Ten Places to Invest Real Estate in Florida List and this just confirms what we already knew – Cape Coral is Awesome!

Best Places to Invest in Real Estate in Florida

Florida Real EstateAh, Florida. The land of sand, snowbirds — and real estate speculation.

Ever since the 1920s, when the first real estate boom officially arrived at the doorstep of the Sunshine State, the idea that you too could own a sunny slice of Miami or Tampa has taken root within the American dream.

But, as with any investment, the risk of loss is real and timing is everything. Florida housing prices, which hit a peak in December 2006, are slowly recovering after the Great Recession nosedive — the state’s fall was among the harshest in the nation — but recently, the trend is positive, stoking renewed interest in real estate.

According to the S&P/Case-Shiller Index, considered one of the more reliable indicators of local real estate market trends, home prices in the Miami area have been on an uninterrupted march up since November 2011. Recently, in Lauderdale-by-the-Sea, a community just north of Fort Lauderdale, buyers camped out overnight for a chance to snap up new condos selling for $500,000 to $1 million.

Investors will find real estate prices vary widely across Florida. In NerdWallet’s study of 227 places, the cheapest average sale price was $37.36 per square foot in Kenneth City in Pinellas County. The most expensive was Key Biscayne at $546.77 per square foot, a difference of over $500.

So what area offers the best bang for your real estate investment buck? NerdWallet crunched the numbers to find out.

Real Estate InvestingKey takeaways
Flip this. If your goal is to get in and get out with a profit, here are the top three communities when it comes to speed of sale: Hialeah Gardens, Lauderdale-by-the-Sea and Atlantis. Hialeah Gardens earned the highest mark, a 9.55, in our study on this metric — Zillow’s 2014 market health score. The quicker a house sells, the higher the score, with 10 as the highest.
Beachfront bonus. The Miami-Fort Lauderdale metro area dominated our top 10 list — eight of our top 10 investments are located there.
Going long? Florida’s housing market seems to make the most sense overall for those looking to invest in the long-term. Most of our top 20 places have low scores when it comes to real estate market health, a sign of the continued impact of the Great Recession.

What we analyzed
Our calculations took into account several factors:

Market health. We looked at how quickly houses sold compared with other cities in the state, as well as the change in vacancy rate.
Price per square foot. Weighting for affordability, we measured the price per square foot of housing in a city, averaging all months of 2013 and 2014 to avoid seasonal fluctuations.
Population and home price growth. Averaging monthly price data since 2004, we examined the percentage of houses that increased in value over the past 10 years. We also looked at the increase in population since 2010.
Property taxes. Using state data, we calculated the city and county property tax for each city.

Cape Coral Housing Market

Cape Coral was #9 on this list! 🙂 

Best places to invest in real estate in Florida

1. Doral
Doral tops our list thanks to its relative affordability, low unemployment rate (4.4%, or over a full percentage point lower than the statewide rate) and strong population growth. This north-central Miami-Dade County city from 2010 to 2013 welcomed almost 6,000 new residents, a gain of more than 14%.

2. Bal Harbour
In tiny Bal Harbour, population 2,569, price could quickly become a factor — it’s the most expensive location in our top 20 with an average sales price of $340 per square foot. Still, there are plenty of buyers. On Zillow’s 0-10 scale for speed of sale, Bal Harbour scored a healthy 8.66.

3. Homestead
The watchword in Homestead is growth. More than half — 56% — of its homes have increased in value over the past 10 years, yet housing remains relatively affordable in this city of 61,714 residents. Sale prices over the past two years averaged just $79.42 per square foot, among the most affordable in our study.

4. Miami Lakes
Miami Lakes may not boast oceanfront property, but a full 57% of its housing stock has increased in value over the past 10 years, and vacancies have dropped 3.6%. That’s a good sign for investors who may have to pay a premium for this suburban location just north of Miami. Here, buyers paid an average of $152 per square foot for a house.

5. Marianna
Bargains abound in Marianna, home of our top 20’s lowest price-per-square-foot sale price of $61. It’s also clearly attracting new residents, with a 28% increase in the population from 2010 to 2013.

6. Hialeah Gardens
Hialeah Gardens, population 22,136, had the highest overall market health score in our survey at 9.55. This means buyers who are looking for a quick turnaround on their investment will find many options to flip housing in Hialeah Gardens.

7. Aventura
This diverse and growing community in northeastern Miami-Dade County is known for its high concentration of transplants from the Northeast, and its many high-rise condos. Buyers will find an average sales price of $227 per square foot and options for Intracoastal Waterway and Atlantic Ocean views. The city’s investment score also benefits from its 7.51% increase in population since 2010.

8. Pinecrest
This small suburban village in Miami-Dade County is the second-most expensive in our top 10, with the price of $269 per square foot. Its population has grown a modest 1.54% in recent years, and village leaders are thinking about expanding. A common discussion involves annexing land west of U.S. Highway 1 to help build out the small village’s tax base.

Cape Cora Homes on Canal9. Cape Coral
Cape Coral moves in many directions: It is the largest city in our top 10 at 158,415 residents, and it has an average sales price that is the third lowest in our top 10 at $96 per square foot. It’s the only city on our list located in Lee County, which is also home to Fort Myers. Cape Coral residents are thinking about development, which can have a major effect on real estate values. Recent news reports have focused on plans to develop Bimini Basin as a community gathering place — with some ideas calling for a mix of commercial and open space.

10. Winter Garden
The only place in our top 10 near Orlando, Winter Garden has a lot to offer those diving into the real estate market. Its vacancy rate declined while its population grew over 13%, suggesting strong demand for housing. Perhaps it’s the nearby Disney World effect, but Winter Garden enjoys a particularly strong job market, which supports a growing housing market. The unemployment rate in Winter Garden in December, the most-recent data available, was 3.8%. By comparison, the entire state of Florida was at 5.6% for the same month.

Click here to view original article.

I’m always happy to answer any questions and educate my clients on what options will benefit them most in the purchase of a new home, condo or lot in the area.  Please feel free to share this blog post with anyone you feel might be interested or find value in this information.

Bob Ashworth Remax Realtor SWFL

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

Like us on Facebook   Follow us on Twitter  View our profile on LinkedIn  Visit our blog  Find us on Yelp   Find us on Google+

Business Card 2014

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
Bob.Ashworth@gmail.com
www.BobAshworth.com

Like us on Facebook Follow us on Twitter View our profile on LinkedIn Visit our blog Find us on Yelp Find us on Google+

Historic Low Mortgage Rates!

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Condo, Buying a Home, Buying a Home in SWFL, Buying a Home SWFL, Buying Questions, Buying Tips, Cape Coral, Cape Coral News, Cape Coral Real Estate, Cape Coral Real Estate Market, Cape Coral Realtor, FL Real Estate Market Update, Florida Housing Market, Florida Mortgage News, Florida Real Estate, Florida Real Estate News, Lee County Homes, Lower Your Interest Rates, Money Saving Tips, Real Estate Investment, Real Estate Market, Real Estate News, SWFL Home Sales, SWFL Real Estate

SWFL Real Estate News 1

Mortgage interest rates are back down to historic lows!

Are you thinking about buying a new home in Southwest Florida? If so I have some really good new for you! With these new all time low interest rates you can buy more house for your money!

Lower Interest RatesAs you may or may not know, the 30 year fixed rate home mortgage is based upon the US Treasury’s 10 year bond yield. Last week, the week of January 12, 2015 saw the 10 year treasury dip down under 2% to 1.816% as of the writing of this article.

So you might be wondering, how does this benefit home buyers, sellers? The drop in the 10 year treasury, will virtually immediately signal a drop in 30 year mortgage rates that are already at 4% or less for a well qualified buyer.

We will likely see 30 year mortgage rates down to 3.75% to 3.875% therefore increasing a home buyers borrowing power by reducing the monthly payment required to support the loan. In turn this low rate also helps home sellers as it eases the stress of buyers just a bit while also increasing how much home they can afford to buy.

Nobody knows for sure how long rates will stay at these historic lows, but now is a great time to buy a home as the affordability has never been greater. If you’re not sure how much home you can afford, contact me for assistance.

I’m always happy to answer any questions and educate my clients on what options will benefit them most.  Please feel free to share this blog post with anyone you feel might be interested or find value in this information.

Bob Ashworth Remax Realtor SWFL

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

Like us on Facebook   Follow us on Twitter  View our profile on LinkedIn  Visit our blog  Find us on Yelp   Find us on Google+

Business Card 2014

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
Bob.Ashworth@gmail.com
www.BobAshworth.com

Like us on Facebook Follow us on Twitter View our profile on LinkedIn Visit our blog Find us on Yelp Find us on Google+

Happy Thanksgiving!

Posted in Beach Holidays, Bob Ashworth, Bob Ashworth Realtor, Cape Coral, Cape Coral Real Estate, Cape Coral Realtor, Florida Real Estate, Happy Holidays, Happy Thanksgiving, SWFL Real Estate

2014 Happy Thanksgiving

 

Wishing You A Wonderful Thanksgiving Day From Our Family to Yours!

We have so much to be grateful for on this day and on every day of the year. Today we want to just say THANK YOU for allowing us to serve you over the years. We greatly appreciate the friendship, the good times and the opportunity to share these moments with you. Here’s to wishing you a very Happy Thanksgiving to you and yours! May your day be filled with laughter, love, family, good food, good friends and happy times!

All the best to you and yours, 

Bob Ashworth Remax Realty Team

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Bob Ashworth Remax Realty Team

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
Bob.Ashworth@gmail.com
www.BobAshworth.com

Like us on Facebook Follow us on Twitter View our profile on LinkedIn Visit our blog Find us on Yelp Find us on Google+

It’s a good time to buy a Florida Home!

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Condo, Buying a Home, Buying a Home in SWFL, Buying a Home SWFL, Buying Questions, Cape Coral, Cape Coral News, Cape Coral Real Estate, Cape Coral Real Estate Market, Cape Coral Realtor, Florida Housing Market, Florida Real Estate, Florida Real Estate News, Lee County Homes, Real Estate Market, Real Estate News, SWFL Homes for Sale, SWFL Market News, SWFL Real Estate

Florida Homes for Sale

Canadian snowbirds encouraged to buy a Fla. home

MONTREAL, Canada 2014 – As Canadian snowbirds prepare to head south, the Annual Snowbird outlook from BMO Bank of Montreal is telling Canadians that “U.S. housing affordability remains healthy, and prices are expected to increase in Florida, Arizona and other popular areas.”

The bank offers only two warnings to Canadians considering a southern move: The border crossing rules are more strict, and a strengthening U.S. dollar could make purchases in Florida and elsewhere more expensive.

“Overall, U.S. house prices have soared 20 percent in the past two years, but are only about half way back to their peak in 2006,” and “Traditional destinations for Canadian Snowbirds remain affordable,” the bank says. “Compared to their peaks, prices in Tampa are down 34 percent, Phoenix down 30 percent, Las Vegas off 43 percent, and Miami down a whopping 52 percent.”

“Now, with the American economy and employment gaining strength, home sales should gather some momentum,” advises Sal Guatieri, senior economist, BMO Capital Markets. “We expect prices to rise over time alongside growing family incomes.”

Guatieri also says BMO expects “capital gains appreciation for Canadians who purchase U.S. property.”

Florida a hotspot

Florida continues to be a hotspot with Canadians representing the largest foreign buyers of Florida housing, BMO says. More than 500,000 Canadians currently own real estate in Florida.

“Florida properties are a bargain compared to real estate in Canada. The median priced home in Florida is nearly half that in Canada,” says Jack Ablin, chief investment officer, BMO Harris Private Bank. “Popular areas include Sarasota-Bradenton-Venice, Orlando-Kissimmee, Miami-Ft. Lauderdale-Palm Beach, Cape Coral-Ft. Myers, Tampa-St. Petersburg and Naples-Marco Island.

“We project retirement state housing prices to outpace the national average, due to increasing numbers of retirees, and abundance of capital from abroad and lower interest rates. Foreign buyers are interested in U.S. real estate because it’s relatively cheap when gauged against incomes, and it’s situated in a stable/safe haven economy,” added Mr. Ablin.

Click here to view original article.

Bob Ashworth

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

 Like us on Facebook   Follow us on Twitter  View our profile on LinkedIn  Visit our blog  Find us on Yelp   Find us on Google+

Bob Ashworth Remax Realty Team

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
Bob.Ashworth@gmail.com
www.BobAshworth.com

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Cape Coral – Awesome Place to Live!

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Home, Buying a Home in SWFL, Buying a Home SWFL, Cape Coral, Cape Coral Real Estate, Cape Coral Real Estate Market, Cape Coral Realtor, Florida Housing Market, Florida Real Estate, Fort Myers News, Fort Myers Real Estate, Homes for Sale SWFL, Lee County Homes, Real Estate Advice, Real Estate Market, Realtor, SWFL News, SWFL Real Estate

65599

Cape Coral is ranked No. 46 on a list of America’s best cities to live.

To form the list, 24/7 Wall St. reviewed data on the 550 areas measured by the U.S. Census Bureau with populations of 65,000 or more. A range of variables werNews-Presse considered, including crime rates, employment growth, educational attainment, and housing affordability.

According to a snapshot look at the city:

• Strong employment growth between 2011 and 2013 helped drive the unemployment rate down from 11.1 percent to 6.9 percent during that time.

• Payments on a median-priced home in Lee County equaled 16.6 percent of a typical household’s income, less than in many other parts of the nation.

• Median income of $48,619 is below the national average and incommensurate with its moderately high cost of living.

• Its network of well-organized canals are likely its biggest attraction.

Other Florida cities in the top 50: Boca Raton came in at No. 11 and Weston was ranked No. 15.

Newton, Mass., got the top spot on the list.

24/7 Wall St. LLC is a corporation set up to run a financial news and opinion operation with content delivered over the Internet. The company’s articles are republished by many of the largest news sites, including USA Today.

Cape Coral’s full snapshot:

46. Cape Coral, Florida

  • Median household income: $48,619
  • Unemployment rate, 2013: 6.90%
  • Median home value: $137,100
  • Violent crime per 100,000 residents: 143.5
  • Average commuter travel time: 27.5 minutes

Click here to view original article by The News Press.

As a Southwest Florida Real Estate Agent it’s my job to educate my clients and help them get exactly what they want and make sure their best interest are being considered in every detail of the purchase. This blog is all about educating you and empowering you with all the industry news, information, tips and things to consider before buying or selling your home. If you found this article interesting and know someone else that might benefit from it please feel free to share!

SWFL Real Estate

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

Like us on Facebook   Follow us on Twitter  View our profile on LinkedIn  Visit our blog  Find us on Yelp   Find us on Google+

Bob Ashworth Remax Realty Team

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
Bob.Ashworth@gmail.com
www.BobAshworth.com

Like us on Facebook Follow us on Twitter View our profile on LinkedIn Visit our blog Find us on Yelp Find us on Google+

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Shortening the Life Span of your Mortgage!

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Condo, Buying a Home, Buying a Home in SWFL, Buying a Home SWFL, Buying Questions, Buying Tips, Cape Coral Real Estate, Cape Coral Real Estate Market, Cape Coral Realtor, Early Mortgage Pay Off, Florida Mortgage News, Money Saving Tips, Mortgage Advice, Mortgage Changes, Mortgage News, Mortgage Tips, Real Estate Advice, Real Estate News, SWFL Home Tips, SWFL Mortgage Tips, SWFL Real Estate, Uncategorized

Holding house keys on house shaped keychain in front of a new home

How to pay off your 30 year mortgage in 15 years.

Paying off your mortgage in half the time is easier than you think. Actually, it’s really quite simple, although this advice is rarely ever given to the public. Every one of my clients who closes on a home with me on a 30 year mortgage loan receives this guidance from me and today I want to share it with you.

Early Mortgage Pay OffSurely the main reason that most home buyers select a 30 year loan over a 15 year term is not because they prefer to pay the mortgage twice as long. They make this choice because of its affordability since a 30 year loan has a much lower monthly payment than a 15 year one. The other reason to choose a 30 year over a 15 year is more flexibility. If you’re committed to a 15 year term with your home loan lender when some unforeseen event occurs where all of a sudden your income drops will mostly likely be stuck making the higher payments. This also means you will be unable to refinance into a 30 year which would lower your payments. However, If you were committed to a 30 year mortgage and make additional principle payments on your own, you can immediately halt the additional principle you’ve been sending to conserve cash.

Let’s take a look at the two different options using a $200,000 mortgage loan as the example. For simplicity sake I’ll leave out real estate taxes and insurance and instead just focus on the principle and interest associated with the two different loans. I’ll also use a typical interest rate in today’s market (summer 2014) for an owner occupant home loan.

Mortgage Pay Off Calculator SWFLA $200,000 loan with a 30 year payback at 4.125% would be $969 per month

A $200,000 loan with a 15 year payback at 3.375% would be $1,418 per month

The simple formula is just this. Every month when you review your mortgage loan statement from your lender, find the amount of the payment that is slated to go towards your principle. Hint: it’s usually the smallest amount of all!

The first monthly payment on your $200,000, 30 year loan at 4.125% will be $969 plus or minus a few cents, and not including taxes and insurance. Of that $969, only $282 will go towards your principle balance. Now while your payment will remain the same for the life of the loan, the amount that goes towards principle and interest will change as your principle balance is reduced.

Add $282 to your payment. You’ve just made 2 months of payments. Do this same thing every month, and your 30 year or 360 month mortgage just became 15 years, or 180 months.

Cutting home loanFurther examples:

Next payment the very following month –

Now because you made 2 principle payments, one that was required, and one that was your extra, your new principle balance is now $199,436. Your required payment is still $969 but the amount that will now go towards the principle is $283. Only $1.00 more, but at this pace you’ll pay off your 30 year mortgage in 15 years.

Yes, of course as time goes on the additional principle does become more of a burden. Although it will get better down the road. And at that point you’ll have made quite a dent in not only your principle balance, but in the years required to be mortgage free.

Final example:

5 years or 60 payments made, each including an extra month of principle. Your principle balance will be approximately $160,000 as opposed to $180,000 had you not been making the extra payments. When your principle balance is around $160,000, the required payment is still $969, though $415 +/- is what is going towards principle now. If you’re still committed to a 15 year payoff, your extra principle payment is more than it was in the beginning, but remember; all these principle payments are equity in your home.

Even if you are not able to continue to increase the amount of your extra payment, you’ve dramatically reduced your balance and, your loan will pay off years ahead of schedule saving you thousands of dollars in interest.

bob-remax-sign

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

Like me on Facebook    Follow me on Twitter    View my profile on LinkedIn    Visit my blog

Bob Ashworth Remax Realty Team

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
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Home Prices on the Rise

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Condo, Buying a Home, Buying a Home in SWFL, Buying a Home SWFL, Buying Tips, Cape Coral, Cape Coral News, Cape Coral Real Estate, Cape Coral Real Estate Market, Cape Coral Realtor, Florida Housing Market, Florida Real Estate, Florida Real Estate News

 SWFL home prices on the rise

Demand for gulf-access Cape Coral homes driving up prices

wink-logoCAPE CORAL, Fla. – The price of paradise is skyrocketing. Only WINK News is learning that waterfront property in Cape Coral is on the rise.

A local realtor tells WINK News over the course of one year from January to January he saw a roughly 24 percent price increase.

That price jump is not lost on David Payne. He lives in upstate New York but spends the winters at his home in Cape Coral. “We bought in 2009, decided we’d like a little bigger home than what we have,” Payne said.

He’s been looking for that bigger dream home on the water for a couple of years. And after watching the market he’s thinking “… maybe hurry the process up before they keep going?” he laughed. “Seems to be they are definitely on the increase.”

Realtor Marc Joseph tells WINK News the demand for gulf access homes is increasing which means the prices are, as well.

He says it’s a good sign of a recovering economy. He believes the prices are only going to go up from here. “The market inventory has gotten very tight. And as we tighten with our market. Prices go up,” said Joseph.

That means you’re going to pay a lot more now hat you would have a year ago.

“As of January the median sale price of saltwater homes, it’s $384,000. If you look back a year ago it was $310,000,” said Joseph. “As long as you believe that the sun is going to shine. People will return. The prices will continue to increase. It’s a prime example of what’s happening right now.”

Paradise for sale. But paradise that comes at a premium. “We were just looking for the deal of the century before. Now, we’re looking for the deal. Hopefully that will work for us!” said Payne.

As for some advice for buyers, Joseph says make sure you do your research, and educate yourself before making that big purchase.

Click here to view original article.

SWFL Real Estate

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

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Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
Bob.Ashworth@gmail.com
www.BobAshworth.com
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Successful Future for Cape Coral, FL!

Posted in Bob Ashworth, Bob Ashworth Realtor, Business Growth, Buying a Home in SWFL, Buying a Home SWFL, Cape Coral, Cape Coral News, Cape Coral Real Estate, Cape Coral Real Estate Market, Cape Coral Realtor, FL Real Estate Market Update, Florida Housing Market, Florida Real Estate, Florida Real Estate News, Real Estate Advice, Real Estate Investment, Real Estate Market, Real Estate News, SWFL Housing Update, SWFL Market News, SWFL News, SWFL Real Estate

Cape_Coral_Florida

Economic directors see great futures for Lee, Cape

Cape Coral FL map

Click to enlarge map.

The vision for Cape Coral in 2035 is not the same as it was in 1978. Instead of being a bedroom community, it is seen as a bustling city with a thriving economy and a huge corporate presence.

Dana Brunett and Rick Michael, economic directors of Cape Coral and Lee County, respectively, spoke to builders at the monthly Cape Coral Construction Industry Association (CCCIA) meeting Friday to give them their vision of what they expect the area to become in the coming years.

That means attracting businesses that generate real income, and they agreed that success in Lee County means success in Cape Coral and vice versa.

Brunett said the difference in from six years ago to now is night and day. The days of abandoned homes have become days where worldwide television audiences are seeing what the city has become.

“We’re back on the top 10 lists of best cities to live and work in. We’ve turned the corner,” Brunett said. “The best way to grow is to find out who does it best and do it better.”

Brunett anticipates tremendous growth along the Pine Island Road corridor, which is still in need of utilities and where Sam’s Club and a Wal-Mart neighborhood store will soon be coming, and near the VA hospital and the just-opened National Guard Armory to the north where there are 425 acres waiting to be developed.

“It’s exciting to see how things have changed in the last 2 1/2 years. We’ve gone from ‘I hope’ to ‘It is,'” Brunett said. “We’re looking to recruit businesses and create space for them.”

Michael’s view was the same as Brunett’s, only on a more regional and futuristic level. And he wants to leverage the resources of talent and skill.

By 2035, Lee County is expected to have 1.2 million people, nearly double what is has now, Michael said. That means 300,000 more vehicles and between 200,000 and 250,000 jobs.

Cape Coral is anticipated to have roughly 112,000 more jobs.

“We have 30 Publix in Lee County that employ 5,000 people. We expect 20 more by 2035,” Michael said. “We have 27 Wal-Marts in Lee County now. We expect another 21 to 23 in 20 years.”

However, minimum wage jobs aren’t exactly what either is looking for.

“We want levels in the $80,000 and $90,000 range; larger homes and more spendable income,” Michael said. “We want business to generate business air traffic and more flights out of Fort Myers International Airport.”

In the immediate future, Lee County has already secured Hertz. Michael said, and is seeking to have two more corporate relocations in the fall.

For the Cape, a five-minute video was made on the virtues of making the city a great place to work, live and play. Three businesses have made the move, Brunett said, allowing the video to pay for itself.

“The question I had is how this translates into what kind of transition we can expect in the Northwest Cape,” said Stephen Tate of Interface Financial Group, who lives in the sparsely populated area. “We don’t have the infrastructure up there, and yet it has the most space for businesses to come to.”

Former councilman and CCCIA member Marty McClain said the county has an edge on the city in luring businesses and that the city and Brunett have to decide what he wants in the city.

“Lee County has a few more tools to work with regarding impact fees and other incentives. I think Cape Coral is trying to work with that,” McClain said. “I think we’re going to look at the projects and prioritize what we want to bring in. Dana has done a great job here.”

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Cape Coral living

As a Southwest Florida Real Estate Agent it’s my job to educate my clients and help them get exactly what they want and make sure their best interest are being considered in every detail of the purchase. This blog is all about educating you and empowering you with all the industry news, information, tips and things to consider before buying or selling your home. If you found this article interesting and know someone else that might benefit from it please feel free to share!

Bob Ashworth

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

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Bob Ashworth Remax Realty Team

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
Bob.Ashworth@gmail.com
www.BobAshworth.com
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Happy 4th of July!

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Home in SWFL, Buying a Home SWFL, Cape Coral, Cape Coral News, Cape Coral Real Estate, Cape Coral Real Estate Market, Cape Coral Realtor, FL Real Estate Market Update, Florida Housing Market, Florida Mortgage News, Florida Real Estate, Florida Real Estate News, Fort Myers News, Fort Myers Real Estate, Happy 4th of July, Real Estate Market, Real Estate News, Realtor

2014 4th of July

Wishing You All The Best From Our Family to Yours!

Wishing you and yours a safe, happy and fun 4th of July! May your day be filled with laughter, love, family, good food, good friends and happy times! Stay cool and enjoy the fireworks!

Our goal is to always be your #1 Real Estate Solutions Provider in Southwest Florida and beyond! Thank you for allowing us to serve you over the years. We appreciate your preference and your friendship!

All the best to you,

Bob Ashworth Remax Realty Team

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Bob Ashworth Remax Realty Team

Bob Ashworth
Realtor, CBR, CDPE
Your Real Estate Solutions Provider
239-425-2503
2326 Del Prado Blvd. S.
Cape Coral, FL 33990
Bob.Ashworth@gmail.com
www.BobAshworth.com
Like us on Facebook Follow us on Twitter View our profile on LinkedIn Visit our blog  Find us on Yelp