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| Most of the banking industry has realized that keeping the home owner in the home until the last minute minumizes their loss. A home owner will mow the grass, keep the air conditioning running, and generally keep the home in better condition than when abandoned. Therefore, it saves the bank money. The numbers speak for themselves. Short sales save the banks money, the sellers usually are in a much better condition after a short sale rather than a foreclosure |
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Foreclosure Deals
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Cape Coral is the growth engine of SW Florida and when the investor frenzy took off it was just a matter of time until the top was found and we were headed the other way. We have had a declining market for 2 years and it seems the bottom is here. The number of forclosures is starting to decline and the ones that have hit the market are snapped up quickly. I will be bringing you up to date video's of some of the foreclosed properties. If you havae any questions qbout these, call me and I'll be glad to get more information for you.
This is a buying oportunity that will not be back around again. Lets get you started on the road to your piece of Paradise.
These are some pictures of foreclosures. When they hit the market, they are gone quickly. The good news is they are replaced by others.
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Click thumbnails to Enlarge.
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1400 sw 20th ave
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The IRS Rules for Exchanges...
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You will need to follow six primary rules for your exchange to meet stringent IRS regulations: |
 Real Property Use. Both your old and new properties must qualify as investment or business use. If both properties pass this test, you can exchange nearly any type of real estate.
 45 Day Identification Period. You have 45 days from the closing of your sale to list the properties you may want to buy. There are no exceptions to the deadline.
 180 Day Exchange Period. From the sale closing date, you have 180 days to close on the purchase of one or more properties from the 45-day list. Again, there are no exceptions to this deadline.
 Qualified Intermediary (QI). The IRS mandates that you use a QI to prepare the legal documents for your exchange. Because the QI must be independent, it cannot be your friend, employee, broker, or even your accountant or attorney. The QI also holds your money, so that you do not have access to it.
 Proper title holding. You must purchase and take title to your new property exactly as you held title to your old property.
 Reinvestment Requirement. To defer all of your capital gain tax, you must buy a property equal or higher in value than the one you sold. Also, you must reinvest all of the cash proceeds from your sale.
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