Mike Cathell

The Florida Weekly Newspaper posted an article today that should be of interest to any Florida Homeowner thinking about upgrading their air conditioner. According to the article, starting August 30, homeowners can qualify for up to $1500 for upgrading to a newer, more energy efficient air conditioner. The program will continue until Dec. 31 or until the funds are depleted.

For more details check the Florida Energy Star Residential HVAC Rebate Website (what a mouthful!) at www.rebates.com/floridahvac. Hurry, the rebates are on a first come, first served basis and they are limited.

Driving around Fort Myers, Florida I noticed something I have not seen in a long time -
Commercial properties with "Sold" signs on them. National Real Estate Investor has stated increased transactions numbers in Commercial Properties. Many experts believe this trend should continue through 2011 and 2012.

I ask again, why invest in Commercial Real Estate?

• Presently, there are many owners/landlords that have fought the tough economic times. Many are "tired" and more willing to sell, especially if they are absentee owners.

• Large developers have slowed down or stopped building completely. Our population is growing exponentially and all these people need to rent or own a place to live.
  

• Investing in property can also build credibilty with lenders. Using other people's money (renters) to make your mortgage payments timely builds credit making future loans easier to obtain for larger investments.

• Each payment made to the lender builds equity in your property. Having the right renters is critical to this process. Desirable tenants will make payments timely plus will take care of the rental property.

• Tenants are more willing to sign long term leases if landlord keeps property in good condition and offers incentives.

• Commercial properties can be excellent sources of cash flow.

• As market improves, 1031 Exchanges will make it possible to build your Real Estate portfolio.

Investing requires much research and market knowledge. An important choice is the Commercial Realtor working with you. I recently joined Randy Krise, CCIM in Fort Myers, Florida. Randy is a top Broker as well as an Investor himself. I have both Real Estate and business management experience. Together, we want to re-build Fort Myers, Florida by helping make insightful, knowledgeable decisions concerning Commercial properties.

Also of Interest, blog:

Fort Myers Commercial Real Estate - Good, Bad or Ugly?

Governor Grist of Florida has already helped pass legislation to help owners' affected by Chinese Drywall. his next proposal will be aid for counties being affected by oil spill.

This article was posted to RISMedia this afternoon:

Click here to read the entire article.

Let's get behind this and let our congresspeople know we are behind it also.

Recently, I read an article by "Forbes. Using data from Economy.com and Equifax, they picked the 11 worst housing markets that are losing equity. Number 2 is Ft. Myers/Cape Coral, FL. Of course, this drew my attention since this is where I am a Realtor!

I have talked with several people recently that are concerned as their equity gets smaller every year. Locally, many tax assessments have dropped the value of houses significantly. My advice to home owners, if you are thinking of selling in next few years, do it now. Not everyone is upside down in their houses. There are households with no mortgage because the mortgage has been paid off or the original purchase was a cash purchase. Many Boomers are thinking of retiring soon and for many, this means downsizing. Young couples are starting to have families and need larger homes. If either group has equity, now is the time to sell for several reasons.

Reason 1, sell before you lose more equity. Sitting and waiting is never a good plan if you are in positive position. Recent clients of mine thanked me for selling their home now. It was originally a cash purchase. They lived in it for 7 years and sold it for full asking price for more than they originally paid. They purchased another home that was considerably smaller but fit their needs better than the large pool home. Because of lower house values in this market, their new purchase was purchased for 50% less than it would have been several years ago.

Reason 2 was mentioned in my client story. Everything is relative. Your house is not the only house where plummeting assessments and a low economy are affecting prices. The house or condo you will be purchasing will probably be at value pricing also.

Reason 3 was also touched on earlier. Soon to retire Boomers want to downsize. New families need to up-size. Sounds like both groups of sellers have interested buyers. For these two groups in particular it's a buyers and sellers market.

My next blog will be more about why sellers need to be working with a Realtor in this tough market. Going it alone has never been harder. Realtors, please feel free to leave plenty of comments on what trends are happening in your market.

As I mentioned before, any buyers' market is also a sellers' market. The most important thing for sellers to do is make your house stand out from the other listings. This does not mean a complete remodel but just a few well planned changes.

• Clean it! Clean it! and when you think you're done, clean it! A clean home and yard show the house is well cared for and organized. Any buyer wants a house that looks move-in ready. Lack of clutter, dust, fingerprints and dirty clothes make the house more desirable.
• If you do not have a talent for decorating, go visit model homes in your area. These homes have been professionally staged. Get ideas to make your home more pleasing to potential buyers. Big point, you are decorating for the general public, not for yourself.
• Quick touch-up to the front of the house. A fresh coat of paint, new door hardware, a few fresh flowers planted and a new welcome mat make the house inviting to buyers as well as making your house stand out on the street. Don't forget the mailbox. A few dollars invested in a mailbox adds lots of curb appeal.
• Empty closets of unused clothes, shoes and boxes. The closets should look half empty to emphasis their spaciness. Crammed closets scream the house needs more storage,
• Organize and clean the garage. Hang bikes and garden tools. A storage unit is a valuable investment. Get the clutter out of the house to show off the size of the garage and the rooms of the house.
  
• Bathrooms and bedrooms are the hardest to maintain while still living in your house. The family needs to make an effort to keep clutter from dressers and nightstands. Beds need to be made every day anmd sheets need to look fresh. Bathrooms need a "spa" appearance. Fresh towels, decorative soaps and stylish fixtures. Dirty laundry and hampers need to be kept in a laundry room, not the bathroom.
• Update the hardware on the kitchen cabinets and drawers. A new faucet can make a tremendous impact. Clean and organize the cabinet under the sink where all those unused cleaning supplies seem to congregate.
• Dry clean draperies. Rent a carpet cleaning machine or hire professionals to work on carpets. Ugly stains draw the eye to that spot. Cleaning also removes unwanted odors from pets and smoking. Keep the drapes and blinds open. Add some lighting. the house needs to look bright and airy.

A little bit of elbow grease and lots of imagination can make your house sell faster and for more money. After you complete the staging, have your friends and your Realtor walk the house as if they were buyers. Listen carefully to their comments. Fresh eyes are your best source to see if your decorating gives the message you want potential buyers to see.