Erik Elsea

There is plenty of good news this morning for homeowners and those who want to be. Last night Congress passed the extension for the home buyer's tax credit. This moves the deadline for closing from June 30^th to September 30^th, 2010. According to Florida Realtors® this may allow an additional 14,000 people in Florida to enjoy the benefits of the tax credit that would have otherwise lost out due to not being able to close on time.

So many buyers flooded the market to take advantage of the tax credit that lenders were overwhelmed. Many of these buyers would have probably walked away from the purchase if they would have lost the tax credit. This legislation will help the Florida housing market by getting this inventory sold and having end users moving into what were in many cases distressed properties. This will also help stabilize communities and neighborhoods.

In addition Congress voted to reauthorize the National Flood Insurance Program till September 30^th. This will allow many people who had contracted on homes that are in flood plain areas here in Florida be able to finally close on those properties. Lenders require flood insurance to be bound on the property if it is in a flood plain in order to close. Without the ability to get flood insurance many closings have been put on hold. Now that the program is reauthorized these properties can be closed on and more inventory will be taken off the market.

Both of these bills are expected to be signed into law quickly by the President.

For more information about the Fort Myers Real Estate Market go to: www.resuperstars.com

Tomorrow is the day the new Florida Law goes into effect allowing Homeowners Associations to go after tenants for past due fees owed by the deadbeat owners they are renting from. Owners often owe delinquent fees to their association on properties that are in foreclosure. These owners however continue to rent the properties and most of them keep the rents although they are not paying their fees or their mortgage.

This law is aimed at helping associations recover fees that they are losing out on. Many associations throughout Florida are in desperate financial trouble due to the large amount of foreclosures and the subsequent loss of revenue from fees owed on those properties. Currently banks are only required to pay a maximum of six months of fees. The foreclosure process can take years leaving the association left in a deep hole.

Under the current law associations are allowed to petition a Judge to appoint a receiver to collect rents from the tenantswho occupy properties that are delinquent on their fees. This process can be costly in both time and legal fees. The new law is supposed to alleviate a large part of these costs. Only time will tell if this will work.

For Lee County Florida Market Info get a Free Listingbook account by going to: www.resuperstars.com

Lee County Real Estate

As of this morning the MLS for Fort Myersshows a little over 5100 single family homes available for sale that are not short sales. Last month we sold over 1400 homes in Lee County. That gives us an available inventory of approximately 3-4 months of sellable homes.

What I mean by sellable is that they can be sold without waiting for months for bank approval of a short sale. Out of the 5100 homes only about half of those are under $250,000 and only about 1100 of those are $100,000 or less.

Last month there were only 847 homes foreclosed on in Lee County which consists primarily of Fort Myers, Cape Coral, Lehigh Acres, Bonita Springs, Estero, Fort Myers Beach, and Sanibel Island. We are selling nearly twice as many homes as that per month.

There are only two variables that determine the value of a home: supply and demand. Inventories are being reduced. Prices have been heading upward since last summer. Interest rates continue to be extremely low. We continue to have strong demand and supply is decreasing. With the Real Estate market finally correcting itself over the past year here in SW Florida it looks like we are set for sustained growth for the next few years to come.

To search our MLS Like a Reator® go to: www.resuperstars.com

Listing...Listening Presentations

As an agent in the Fort Myers Real Estate Market I meet with tons of sellers. Sometimes I am competing for their listing with other agents. I often wonder why they choose me to sell their home. I know the obvious. I have experience, a great listing presentation, quality charts and graphs. I know the Lee County Real Estate market. But aren't the other Real Estate Agents showing them similar presentations? Don't they have access to the same MLS information? I wanted to think it was just because I was better looking that the sellers chose to go with me to sell their home...but I know that is not the case.

I asked one of my sellers recently after we had built quite a bit of raport why he went with me over the other agents he had spoken with. He told me it was because during the presentation I did more listening than I did presenting. I asked questions. I found out what their motivation for selling was. The seller was impressed that I included them in the process and tried to get to know them. He said that other agents just came in with a fancy presentation and told them how they are Super Agent, blah, blah, blah. I was the only one who really sat down with them to develop a plan to accomplish their goals.

Someone once told me that you can't learn with your mouth open. Make sure you are doing at least as much listening as you are talking the next time you are on a listing appointment.

TO FIND OUT WHAT YOUR NEIGHBORS SOLD THEIR HOUSE FOR GO TO: www.resuperstars.com

The Chamber of Commerce of Cape Coral proudly welcomes Universal Music Recording Artists Trailer Choir as the headlining act at RE/MAX Realty Team's Red, White and Boom.

Trailer Choir will take the stage at 8:00 p.m. as the feature act before the Heroes and Leaders American Tribute kicks off the spectacular fireworks show at 9:30 p.m.

Discovered in 2007 by superstar Toby Keith, Trailer Choir has been performing on his national tours for the past three years. He featured the group in his 2008 film Beer for My Horses, so Trailer Choir's "Off the Hillbilly Hook" video featured Toby and the movie's co-star Willie Nelson. Keith also co-produced their debut CD. In 2009, Trailer Choir exploded on the airwaves with the merry, rollicking "Rockin' the Beer Gut," a song that has sold more than a quarter of a million copies. "Last Man Standing" was used by ESPN and ABC in a national NASCAR promotion. In 2010, the filming of its jaunty "Rollin' Through the Sunshine" video became a feature story in Country Weekly.

"Red White & Boom proudly welcomes ROGER DEAN CHEVROLET OF CAPE CORAL as the Stage Sponsor," said Bob Knickman, Special Events Director for the Chamber. "We are happy to have the support of Cape Coral's only new car dealership. Also, special thanks to our radio sponsor Cat Country 107.1 for lining up our headlining act Trailer Choir."

Rounding out the entertainment schedule are local bands Retro Light (5:00 p.m.) and The Mixx (6:00 p.m.)
RE/MAX Realty Team's Red, White and Boom kicks off at 4:00 p.m. on Sunday July 4th.

The mission of the Chamber of Commerce of Cape Coral is to promote and serve business and community. The main Welcome Center is located at 2051 Cape Coral Parkway E. For more information please call the Chamber at (239) 549-6900 or visit www.capecoralchamber.com

If you would like to search Cape Coral Florida properties like a Realtor® go to: www.resuperstars.com

www.jonesandcorealty.com