Gulf Coast Associates' Blog: All Categories

Although purchasing a foreclosed property may be a home that is significantly undervalued for the surrounding market, all the experts say that may not always be the case. The key is to "go slowly and carefully" and do your homework first. To do otherwise, could turn a potentially good purchase into a costly mistake.

Once you've located a foreclosure property through either a public records search, newspaper ads, the web, or your agent - you need to find out what comparable homes in the same area sold for in the not to distant past. Try to keep your comparables as close in kind to your property as possible - same number of bedrooms and baths, garage, lot size, and square footage. Concentrate on properties that have sold in the last six months and that are…

As those of you who have read our Blog before know, we are not fond of how a large segment of the mortgage industry has conducted itself in the last few years. Common sense went out the window in order for lenders to make huge profits under the guise of helping borrowers obtain more housing opportunities. Unfortunately, it doesn't take an economics degree to see where that got us. Making bad loans because you can does not mean you should. And, originators making them in order to pad their income is even worse.

Perhaps the saddest part of all is that, to date, we've seen very little of the industry actually doing anything to curb the abuses. In fact, we were dumbfounded recently after attending a seminar, where it was made crystal clear that subprime is…

The mid year city of Ft. Myers Beach real estate sales statistics for both homes and condominiums are listed below. Ft. Myers Beach is located on Estero Island and is the "happening" locale on Southwest Florida's Lee Island Coast. Crossing the Sky Bridge from Ft. Myers lands you smack in the middle of Times Square amid the gaily painted storefronts, beach shops, and outdoor dining - it's where everyone meets and all the action happens.

Ft. Myers Beach offers every amenity you can imagine- from seven miles of wide sandy beaches, golf, boating, fishing and more than anything else - relaxing. The Beach, as its known, is eclectic and diverse. It draws visitors from all over the world and you'll find all sorts of folks from generations of families to Easter…

We wanted to give you an update on our government reform post regarding the announcement of the new FHA Secure mortgage refinancing program. FHA Secure is designed for families who are good borrowers but were steered into high-cost ARM loans with teaser rates.

To qualify for FHA Secure, eligible homeowners must meet the following criteria:

• The loan must be a non-FHA ARM.
• A history of on-time mortgage payments "prior" to the borrower's ARM loan resetting to the higher rate.
• The Arm loan interest rate must have either reset or be scheduled to reset between June 2005 and December 2009.
• Mortgage late's are allowed after the reset date if they are directly related to your higher loan payment. In addition, if you are in a mortgage…

In response to the so called "crisis" in the mortgage markets, the Federal government responded today, and in some cases, is taking action for trying to clean up the credit mess. While we've suggested in a past post that the industry itself needs to take steps for correcting the situation, some of the moves the government is considering may help those suffering from possible mortgage abuses in the past few years.

President Bush announced today the new FHA Secure program for helping borrowers with good credit to refinance their ARM loans if they are behind in their payments. The program is expected to help around 80,000 individuals who are not in foreclosure but are experiencing difficulties. While it is a step in the right direction, in and of itself, it…

The mid year real estate market statistics for Bonita Bay home and condominium sales are listed below. Bonita Bay is Bonita Springs premier gated community and is a highly sought after place to live. Encompassing 2,400 acres, Bonita Bay is also the flagship community of the Bonita Bay Group here in Southwest Florida. More than half the community is devoted to open space, including three Arthur Hills-designed golf courses and 12 miles of biking and walking paths. Golf club members also have access to two Tom Fazio courses at Bonita Bay Club East. Located on more than 1,000 acres of Cypress wetlands, there will be no residences permitted at Club East and these courses are enclosed by natural Florida surroundings providing a pure golfing experience.

In…

The next six weeks are one of our favorite times of the year here in Southwest Florida. Tourist season is winding down, kids are back in school, and winter residents won't start flocking in until October. The down time from all the hustle and bustle is always welcome. And, we have the Labor Day weekend to enjoy too.

Like most people who live in Florida, we are avid outdoor enthusiasts. Boating, fishing, trekking. You name it and we jump at the chance to enjoy the beauty of our area. We usually head up to St. Petersburg for the last big weekend of the summer. There's always something happening at Vinoy Park downtown by the Pier and we invariably take a day and head out to Ft. De Soto. It is the largest park in Pinellas County and consists of five…

The mid year real estate market statistics for both Lely Resort home and condominium sales are listed below. Lely Resort is one of Naples' premier gated communities. Encompassing 3,000 acres of lakes and preserves, it is truly a sought after place to live by those seeking a respite from the stress of everyday life.

Lely Resort is an amenity rich, sophisticated and luxurious style of living conveniently located near Naples’ beaches, 5th Avenue shopping, and exquisite dining experiences. The development offers a variety of single family homes, villas and condos, most with stunning golf and water views.

The community also offers 54 holes of truly championship golf designed by Robert Trent Jones, Lee Trevino and Gary Player and features the completely…