Are you bridging a home purchase with a home sale? Do you feel a little anxiety? Don’t worry, you are not alone. According to a recent survey by RealEstate.com, over 2/3 of people who have done this, have had the same feelings. And the good news is that the majority have closed both deals successfully!
When looking for a Qualified Intermediary (QI) for your 1031 Exchange, one of the first things you should ask is, “Is the money in my account commingled with anyone elses account, or is it held in a separate account for each client?” You want your money to be safe and having your own segregrated account, especially one that has its own individual bond, is easily the best way to go. You may even be able to monitor it online. Call Chris and Dick for more information on 1031 exchanges 239-293-1969.
Open Houses. Every Sunday you will see hundreds of homes from Olde Naples, Park Shore, and Pelican Bay to Grey Oaks, Olde Cypress, and Quail West, having open houses in hopes of selling these properties. There are two main reasons for having them: sellers insisting that their realtor hold them because they believe it gives them the best opportunity for a sale and, realtors having them in order to find potential buyers for any property, not necessarily the one they are showing. The truth of the matter is that only 2% of homes sold are done through open houses. Most of the people attending these events are either nosy neighbors or someone who uses the time as a type of entertainment. The much more modern way to attract buyers for your home is through an active internet presence, where roughly 75% of homebuyers go for their initial search, and dedicated professionals like Chris and Dick can provide that service.
The term iROX comes from I-75 Road Expansion, and gives a spiffy name to this huge $470 million project in Southwest Florida. Thirty miles of the road will be expanded from four lanes to six lanes, beginning in Collier County at the Golden Gate Parkway exit and extending into Lee County at Colonial Boulevard. Drivers should expect delays, however officials of the expansion stated that they do not plan any lane closures during the busiest hours from 8:00 A.M. until 5: P.M. Completion of the project is scheduled for late 2010.
In their latest inovative move, NCH Downtown Naples Hospital is helping family and friends of surgical patients keep informed of their progress. A 50 inch plasma screen has been installed in the surgical waiting room that has been linked to various units in the department where trained nurses document the patient’s movement. Now those in the waiting room are up to the minute as far as their loved ones care, which will hopefully relieve some of their anxiety.
The rest of the country is demonstrating their knowledge of what the people of Southwest Florida already know: This area is a fantastic place to live! According to the U.S. Census Bureau, the Naples-Marco Island metropolitan area was the 16th fastest growing Metro area in the country between 2000 and 2007, showing growth of 25.6% for the period. The percentage of growth is the basis for this ranking, using 363 metropolitan areas throughout the country. Additionally for Southwest Florida, the Cape Coral-Fort Myers area was ranked fourth, with a 33.9% growth rate.