Click here for more details  Capehaze

WOW!! the MAIN house has 4 beds/2 bths/an office-den/2 car gar./fireplace,heatd saltwater pool/spa–GUEST house has 2 beds/1 bth/1 car gar–the DETACHED 35×45 gar/workshop has a/c and 14′ rollup doors– HORSE HOTEL has  3 stalls w/ feed rm and storage PRIEFERT-70′ diameter  PLAYPEN is powder coated..the propane 6 cyl. Onan generator has plenty of juice to power everything in case a storm should come our way…3 plus acres all fenced with a pond thrown in for good measure ..PLENTY OF ROOM FOR ALL YOUR TOYS!!WHAT ELSE DO YOU NEED

2790 Sqft 1197 plus 900 Sqft sorkshop 2003

$370,000

Call Monte Smith 941-716 5083

Specializing in Port Charlotte, North Port, and Sarasota markets.  With years of experience in the banking industry, I can help guide you through the complex process of home purchasing and financing.   I look forward to working with you to find the perfect home.   I am available 24-7 for all of your real estate needs.  Contact me today and let me know what I can do to help you!

Sheri@TarponCoastRealty.com

941-916-5086 mobile

5137 Marshfield Lane Sarasota

International companies can park their investment and position
themselves for the next development cycle, said Tere Blanca, president and chief
executive officer of Miami-based Blanca Commercial Real
Estate.

“Acquiring prime properties at discount prices in the height of
the market was not achievable. Whomever has deep liquidity and can be nimble and
act when opportunities arise can acquire properties at what we consider to be
solid pricing,” he said, according to the Daily Business Review.

Stephan
Gietl of Austria and his partner Fernando Levy-Hara, of Argentina, have
purchased 307 South Florida condo units for $40 million since 2009. The duo has
sold most of the units, mainly to international investors. Levy-Hara says the
units yield between 5 and 6 percent profit per year after maintenance fees and
property taxes.

“With the potential appreciation, if you’re buying at
half the price of the bubble, you have the potential to go up 60 to 70 percent
in the next five years,” he said.

As Americans worry about the economy
and debt ceiling, international investors still perceive the U.S. as “the most
reliable country in the world,” said Andrew Hellinger, chief executive of Coral
Gables-based Hellinger & Penabad.

“We are a country where you can
place your money for investment and know it’s safe.”

South Florida’s most
notable recent deals have ties to investors with connections to major
international companies.

Swire Properties, part of Hong Kong-based real
estate and airline owner Swire Pacific, bought 2.15 acres in Miami at $14
million, along with the $13.1 million acquisition of Eastern Bank’s
headquarters.

In May, Malaysia-based Genting Group paid $236 million for
the Miami Herald’s headquarters. Genting, which also owns 50 percent of
Norwegian Cruise Lines, plans to build nearly 7 million square feet of hotel,
convention and restaurant space. Genting executives cited Florida’s growing
population, budding Miami tourism and a likely nonstop flight from Asia to Miami
International Airport as motivating the deal.

Agave Holdings, with ties
to the owner of Jose Cuervo tequila, paid First Bank Puerto Rico $30.55 million
for a project in Coral Gables.

Espacio USA, the American arm of Spanish
real estate company Inmobiliaria Espacio, is about to close on its second office
building. The company paid $31.52 million for another office building last year,
with renovations running more than $1 million.

Brazilians have led the
Miami condo market resurgence, accounting for 9 percent of unit purchases among
international buyers of Miami single-family homes and condos, according to the
Miami Association of Realtors.

“The feeling in Brazil is certain aspects
of their real estate and economy make U.S. real property a relative bargain,”
said Richard Goldstein, of Bilzin Sumberg. “In other countries like Venezuela,
the currency is not as much of a factor. Political instability is a factor; they
want a safe haven for their money.”
Copyright © 2011 The
Associated Press. Information from: Daily Business Review,

http://www.dailybusinessreview.com

About 2.34 million homes were listed for sale on the
multiple-listing service by the end of June, the lowest level for that time of
year since at least 2007, according to Realtor.com. What’s more, some inventory
levels even reached their lowest levels since the housing crisis began five
years ago, which has prompted some markets to even say their facing a shortage
of homes on the market.

While a drop in inventories can often signal more
demand – and ultimately a boost to home prices – some analysts aren’t so sure
this signals a complete turnaround for the real estate market yet.

“While
sales are picking up in some cities, analysts say the sharp decline in inventory
also reflects the slow pace at which banks are processing foreclosures,” The
Wall Street Journal reports. (The number of homes in foreclosure – a backlog of
2.1 million – is near a high.) Also, some sellers are taking their homes off the
market due to low offers and waiting to put it back on the market.

In its
analysis, The Wall Street Journal found that of the 28 major metro areas
evaluated, inventory levels had dropped in all 28 – except for three. What’s
more, they found that inventories had dropped by double digits in 16 of those
markets during the second quarter when compared to a year ago. For example,
inventories dropped in Miami by 43 percent from a year ago; 30 percent in
Washington, D.C., and more than 20 percent in cities like Charlotte, N.C.,
Seattle, and San Francisco.

“We’re in a shortage situation,” Brett Barry,
a real estate professional in Phoenix, said. Phoenix has a four-month supply of
homes listed for sale at its current pace. “It’s a very artificial, ‘Twilight
Zone’ kind of feeling, because we know there’s a lot of homes out
there.”

Source: “Home Listings Fall But Woes Persist,” The Wall Street
Journal (Aug. 3, 2011)

© Copyright 2011 INFORMATION, INC. Bethesda, MD
(301) 215-4688

5808 GILLOT BLVD, PORT CHARLOTTE

Home is a former model built by owner, includes wood burning fireplace, vaulted ceiling.   Large lani for entertaining.   Close to fishing, golfing, shopping and beautiful beaches!    Boca Grande famous for Tarpon Fishing is a short 15 min. drive. Extra lot at rear of property not included in sale, will be removed from the deed at closing.  

County: Charlotte

Zip Code: 33981-2127 

List Price: $129,000

Beds: 3 Baths: 2/0

SqFt Heated: 2,221

Year Built: 1984

Call Terry Holloway 941 457-3010

————————————-

Local Short Sales

How widespread is this? More than 11 million families are in “negative equity”—that is, they owe more on their home than it is worth—according to a report out this week by First American Core Logic, a real-estate data firm. That’s a quarter of all families with mortgages. And for more than five million of those borrowers, the crisis is extreme: They are more than 25% underwater—the equivalent of having a $100,000 loan on a property now worth just $75,000 or less. That’s true for a fifth of mortgage holders in California, nearly a third in Florida and an incredible 50% in Nevada.

Are you in this situation? Are you still battling to pay the bills each month, even when it may make little financial sense to do so? It’s time for some tough talk. Stop trying to chase your lost equity. That money is gone. Don’t think like the gambler who blows more and more cash trying to win back his losses. That’s how a lot of people turn a small loss into a big one. And do the math. Even if you hope the real estate market is near the bottom—it’s possible, but by no means certain—it may still take years to see any meaningful recovery. If you are 25% underwater, your home will have to rise by 33% just to get you back to even. Is that likely? And over what time period? Even if home prices rose by 5% a year from here, that would still take six years. And during that time you could instead be building fresh savings elsewhere.

If you are reluctant to give up on “your” home, realize that it isn’t “yours.” If you are in negative equity, it’s the bank’s home. You’re just renting it. And right now you may be paying way above market rates. You need to be ruthless about your cash flow. Are you worried about the legal consequences of walking away? Certainly, you should check with a lawyer before doing anything, but the consequences will probably be more limited than you think. In “non-recourse” states, the mortgage lender may have no right to come after you for any shortfall. They may have no option but to take the home, sell it and eat the loss. According to a survey last year by the Federal Reserve Bank of Richmond, such states include negative-equity hot spots California and Arizona. Even in “recourse” states, lenders may have limited ability to come after you. Often they’d have to jump a lot of legal hurdles, and it’s just not worth it for them. They’re swamped with cases anyway. “In my experience, right now they’re not really going after anyone,” says Richard Nemeth, a bankruptcy attorney in Cleveland. “They just don’t have the resources.”

If you’ve taken smart steps to protect your money, you may be safer still. For example, money held in a 401(k), Individual Retirement Account or pension plan is sheltered from creditors. Sure, a strategic foreclosure may hurt your credit score. But if you’re in financial difficulties, it’s probably already suffered. And your credit score is not the only thing in life that matters. Still, when it comes to the idea of walking away from debts, many people are held back by a sense of morality. They feel it’s wrong to abandon their obligations. They don’t want to be a deadbeat. Your instincts, while honorable, are leading you astray. The economy is fundamentally amoral.

Sometimes I think middle-class Americans are the only people who haven’t worked this out yet. They’re operating with a gallant but completely out-of-date plan of attack—like an old-fashioned cavalry with plumed hats and shining swords charging against machine guns. Do you think your lenders would be shy about squeezing you for an extra nickel if they thought they could get away with it? They knew what they were doing when they wrote your loan. Many were guilty of malpractice, but they pocketed good money and they’ve gotten away with it. And if they thought your loan was “risk free,” how come they were charging you so much more than the interest on Treasury bonds? If you’re only a small amount underwater on your mortgage, it’s probably the case that you’re going to be better off staying put. But if you are deeply underwater, it’s a different matter.

Whether we like it or not, walking away from debts is as American as apple pie. Companies file for bankruptcy all the time, and their lenders eat the losses. Executives and investors pocketed millions from the likes of Washington Mutual, Lehman Brothers and Bear Stearns when the going was good. They didn’t have to give back one cent of that money when the companies went into bankruptcy. Limited liability, after all, is one of the main reasons every business from your local dry-cleaner to a major multinational gets incorporated in the first place. They’re not shy about protecting themselves if things go wrong. You shouldn’t be either.

Courtesy of  Brett Arends Wall Street Journal brett.arends@wsj.com