Cape Coral Florida Real Estate

Many first time buyers are among a growing number of buyers rushing to find a home in time to cash in on the federal government’s tax-credit program. The couple, who moved from Lakeland, is eligible for up to $6,500.
They plan to put the money toward a swimming pool.
“We were worried we wouldn’t be able to close on time,” said Bob Freeger. “Getting that tax credit was a huge motivation.”
Real estate agents say their phones are ringing a lot more in recent weeks as folks scurry to sell and or buy homes before next month’s tax credit deadline.
“It’s been absolutely nuts,” said Joseph Beauvais, a real estate Exclusive Buyers agent with Sunny Spot Realty inc in Cape Coral Fl. “I have showings galore and contracts are coming in left and right. I had 15 requests for showings this week.”
To qualify for the credit, buyers must have fully executed sales contracts in place by April 30 and the deal must close by June 30. Loans take 45 days so it is almost too late.
First-time homebuyers are eligible for up to $8,000. Buyers who have owned a home for five consecutive years within the past eight years can get a credit of up to $6,500.
Joseph Beauvais credits most of the increase in traffic to improvements in the economy, but says the tax credit is also helping business.
“We’re seeing more people retiring to Lee county,” Beauvais said. “I’ve had four or five retirees close in one week. In the past three years, I hadn’t seen that many. We had some retirement communities that went a full year without a sale.
“People are no longer afraid to do something. They were afraid for so long.”
Prices are indeed enticing buyers to pull the trigger, and more homeowners are putting their houses on the market in hopes of selling in time to buy another home. Some are trading up to bigger homes while others are downsizing.

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