Wednesday, August 31, 2011

MOVING TIP OF THE DAY
#153
A new bank should provide you with the best benefits and features for your circumstances. Look into consumer, commercial and credit unions.

Straight From The Mayor: Giving local businesses an edge

Over the last couple of years, we have done a tremendous amount of work in order to attract new businesses to Cape Coral.
Creating new initiatives and streamlining processes are just a few of the things we have accomplished so far, with many other things on the way.
While we have spent a considerable amount of time and energy on this project, rest assured we have not forgot about those businesses that currently call Cape Coral home.
One step we took to ensure we take care of our hometown businesses is the ordinance we recently passed. This ordinance gives bidders from Cape Coral preference when it comes to city contracted work.
It seems that quite logical to create an ordinance that would protect local businesses. Other counties and municipalities have had these types of ordinances in place for quite awhile. For some reason, Cape Coral chose not pursue the same types of ordinances in the past. The reason we always heard was the city was trying to protect Cape Coral businesses. Previous councils feared that the other communities and counties would deny Cape Coral companies government work if we passed such an ordinance. Unfortunately, no one did the research to find out these cities and counties already had ordinances in place to show their local bidders preference.
After finding this out we moved forward and gathered information from other municipalities and counties. We also enlisted the help of local contractors and the Cape Coral Construction Industry Association. With their help, we fine tuned the ordinance to make clear what we did was fair, equitable and in line with other cities’ ordinances.
The reason we wanted to be sure that we were close was to keep them from locking Cape Coral businesses out of their government contracts. If we gave local bidders too much of an edge, they would give their local bidders too much of an edge. This, in principle, would lock Cape Coral businesses out of having a fair shot at local government work in their cities. We made sure to create an ordinance comparable with other cities’ ordinances. By doing that we leveled the playing field, giving everyone the same, equal opportunity within their community.
In our ordinance, we created a point system. The point system was not just based on money, but money and points. If a business, resides in Cape Coral or Lee County, it receives additional points. Businesses in Cape Coral would receive the maximum allowed points. For example, a company, from an outside area bids on a project and a Cape Coral company comes within 10% of the price of the outside company. We would then give the local bidder a chance to match the bid from the outside company. If they are able to make that bid, the local company is awarded the contract.
In the end, we were able to bring an ordinance forth that would protect and assist local businesses. This way we could funnel more city money into the local economy, creating jobs and generating revenue for our city.
I personally want to thank those who helped with creating this ordinance. Creating this ordinance was a terrific opportunity for the city and local businesses/organizations to work together and develop a win/win for everyone involved. I believe Cape Coral will be a better place because we enacted this ordinance.

The New Homebuyer Tax Credit Won't Die --Should It?

The government has given buyers using the credit another three months to close sales, and the initiative is being imitated on a smaller scale by states and private companies. But some think the market would be better off if we laid it to rest for good.

Karen and Greg Osmon had outgrown the three-bedroom Winston-Salem, N.C., home they lived in with their two children, so they put it up for sale. Unfortunately, they did so in December of 2008, at the height of the financial crisis. With the economy in a downward spiral, they couldn't find a buyer, and when the property didn't move for over a year, they were forced to pull it off the market.
The Osmons decided to try selling again in early May of this year, but they'd missed a chance to capitalize on an incentive that had boosted home sales in the months prior: the first-time homebuyer tax credit, an $8,000 federal rebate whose April 30 deadline boosted sales of new homes in that month by 48% over the previous year, according to the Census Bureau.
So they sought out real estate company Coldwell Banker to handle their sale. The company was marketing its own "credit"--a 3% discount or up to $8,000 off the purchase price for buyers who bought from participating sellers. The Osmons had to bring their price down even further from its original $199,900, but given how sluggish the market was, they were willing.
The Bonus Buyer sales event, as Coldwell Banker called it, attracted enough buyer interest that this time the Osmon's home sold after just over a month on the market.
"We got a lot of traffic really quickly, whereas before we'd go months without a showing," says Karen Osmon. "Being part of the Buyer Bonus program kind of shows your willingness to work with prospective buyers."
Many real estate industry players took note of the new customers the government's homebuyer tax credit brought to the table. And now that it has all but wound down--on Thursday Congress passed a bill giving buyers who had entered contracts before April 30 an extra three months to close their sales--they are looking for ways to imitate its success.

"It's the right thing to do," says Coldwell Banker CEO Jim Gillespie, of his company's program.
Private companies aren't the only organizations looking to offer housing credits: In March the California state legislature passed a bill offering up to $10,000 to homebuyers who purchased between May 1 and the end of the year.
Some say the credit has been a failure and trying to imitate it doesn't make sense. Citing a dramatic drop in home sales after the credit expired, economists say it did little more than pull inevitable summer home sales forward and delay a recovery.

1922 SE 11th Ave, Cape Coral, FL | Powered by Postlets

1922 SE 11th Ave, Cape Coral, FL | Powered by Postlets



ALL ASSESSMENTS PAID - Owner is a builder and has custom built this home. Travertine Tile Floors throughout, including around bath tub/Jacuzzi and walls in the Master Bath and Shower. All doors are solid wood. Granite counters throughout - Kitchen, on Island, Breakfast Bar, and Bathrooms. Kitchen has custom handmade cabinets. Over sized pool with Kiddie pool area. Over sized drive way 20' X 50'. Please see confidential comments for all inquiries and offers.

3140 Seasons Way #509, Estero, FL | Powered by Postlets

3140 Seasons Way #509, Estero, FL | Powered by Postlets

Beautifully remodeled condo at Fountain Lakes on The Greens. Tile and wood floors, new paint and tiled patio. Great unit to use as a vacation getaway or investment rental! Furnishings are negotiable. This a gated community.

2152 Franklin St, Fort Myers, FL | Powered by Postlets

2152 Franklin St, Fort Myers, FL | Powered by Postlets

2152-2154-2156 Franklin Ave: a Triplex with 1 - 1/1 unit getting $425 a month rent, and 2 - 2/1 units getting $500 a month rent. All are on separate water and electric meters, have been renovated with tile and pergo flooring through out and have newer kitchens. There is a full, separate laundry room also in the building and has 3 parking spaces in front of building. Taxes on the property are going to be LESS THAN 1k in a year, along with insurance at $1,200 a year, giving this property an attractive bottom line to any investor with 3 fresh new 1 year leases good until February 2012. Managed profesionally by a local property management company that takes only 10% to manage the property per month. After monthly Gross Income of $1,425.00, minus approx expenses just around $300 /month that generates approximately $13,500.00 net income annually. In just over 6 years this property has paid for itself! That's a CAP RATE of over 13%. See confidential remarks for showing and offer instruction.

10 Reasons To Buy Investment Properties In Cape Coral, FL

Should you buy investment properties in Cape Coral, FL? We’ll focus on practical reasons you’d want to invest in the Cape Coral real estate...