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    Lee County Schools

    school lockersLee county schools service Cape Coral, Fort Myers, Fort Myers Beach, North Fort Myers, Bonita Springs, Estero, Lehigh Acres and Pine Island. Public, charter, vocational and specialized schools are available for student enrollment.

    Lee county provides school of choice instead of traditional neighborhood schools found in other areas; this means that you can send your children to a school based on your preferred list within your zone (school requests must be submitted to the Student Assignment Department).

    Each school offers a specialized curriculum to prepare kids for life after graduation whether it be skilled trades or college. Programs include: arts, comprehensive, international baccalaureate, foreign language, technology, Cambridge, and science/technology/electronics/math.

    For more specific information about how school of choice works please visit the school board site where you can find details about specific schools and more.

    © Danielle Sharp | Sharp Homes Realty | danielle@allaroundthecape.com | Lee County Schools

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    Posted in: Cape Coral, Cape Coral Home Buyer, Cape Coral Home Seller, Fort Myers

    Mortgage: Lender Overlays

    Loan applicationMortgage: Lender overlays. There is a great deal of mortgage information out there on: how to get one, what type of programs lenders offer and what interest rates are being offered. All loans are not created equally among all lenders though.

    Each lender, be it a banking institution or mortgage broker, has different loan programs but most lenders will work with conventional, FHA & VA loans however what their specific requirements are for qualification above and beyond the loan program will differ. This is where the term overlay comes in.

    For example, one lender I have worked with will approve FHA loans with a middle credit score down to 600 and yet another lender requires a minimum 640. FHA does not require a minimum score. In this scenario the lender required minimum score is an overlay.

    Lender overlays can be more than just credit score. Sometimes it is debt to income ratios, length of employment, open collections and more.

    Shopping for the best loan terms is just as important as seeking out the best loan type. Speaking with multiple lenders can be a good thing but don’t let each of them pull your credit – too many pulls can drop your score!

    Before looking for a home the best first step is to figure out what type of financing is best for you and the amount a lender is willing to give. So much emphasis is put on finding the right home before finding the right financing. To set yourself up for the best chance of success financing should come first.

    © Danielle Sharp | Sharp Homes Realty | danielle@allaroundthecape.com | Mortgage: Lender Overlays

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    Posted in: Cape Coral Home Buyer, Financing, Mortgage

    Closing Costs in Cape Coral

    Two dollar bill and changeClosing costs in Cape Coral. What are they? How much should I anticipate spending? When do I pay them? Who pays them?

    These are common questions we receive from both Cape Coral homeowners and buyers. All closing costs are paid at the time of closing, not before with the exception of inspections, regardless if you are buying or selling a home. The amount of closing costs you pay also does not matter if you are a U.S. citizen or an international buyer (international sellers are subject to FIRPTA, Foreign Investment in Real Property Tax Act).

    Typical closing costs that a home buyer can anticipate:

    • Appraisal – $350+ (FHA/VA appraisals tend to cost $400-450)
    • Survey – $300 +/-
    • Loan costs (origination fee, credit report fee, application fee) – See your lender
    • Points – 1 point equals 1% of the loan amount, ex $100,000 loan, one point is $1,000
    • Prepaid interest – interest due on loan from day of close through end of that month
    • PMI or private mortgage insurance – required on all loans except VA and those with 20%+ downpayment
    • Inspections – termite $75+, home $300+, mold $300+
    • Homeowners insurance – dependent on home, age of roof, flood zone but 12 months must be paid at closing
    • Escrow set up – 3 months of property taxes and 3 months of insurance (in addition to the 12 months noted above)
    • Flood insurance – if necessary and following the same guidelines as homeowners insurance
    • Tax prorations – Property taxes will be based on the most recent tax bill and are prorated from the day of closing through the end of the year with seller paying from January 1st to day before close
    • Title insurance – Lenders require a lender’s title policy to protect their interest

    All of the costs listed above are the responsibility of the buyer and no one else. That does not mean that you cannot get your closing costs “rolled in” to your loan but it does mean that a seller has be willing and agreeable to that scenario. My advice is to be prepared with at least half of what you will need for closing costs plus your downpayment.

    Typical closing costs that a home seller can anticipate:

    • Transfer taxes/doc stamps on deed – $7.00/$1,000
    • Owner’s title insurance policy – average title insurance rates $100 per $10,000
    • Title settlement fee – I have seen this range from $200+
    • Title search fee – $150 +/-
    • Real estate commission – Negotiable
    • Buyer credits – repairs and or closing costs (negotiable but not required)
    • Property tax prorations – January 1st through day before closing

    When selling your home make sure to follow up with your homeowners insurance company to cancel the policy and receive a refund for any portion of the paid policy premium.

    About title insurance…he who chooses the title company pays. Huh? If the seller is choosing the title company they pay for the owner’s title policy. If the buyer chooses the title company they pay for the owner’s title policy.

    While this is a comprehensive list outlining typical costs in a real estate transaction some brokerages charge additional fees. These must be disclosed up front and in writing prior to signing an offer or contract. We do not charge any transaction fees. Ever. Also, some of these rates are subject to change and will vary based upon service provider used. It is always best to verify information directly with the business in question.

    Do you have more questions or are looking for specifics? Let us know! We can be reached at 239.541.5363

    © Danielle Sharp | Sharp Homes Realty | danielle@allaroundthecape.com | Closing Costs in Cape Coral

    Go ahead, we're listening

     

     

    Posted in: Cape Coral Home Buyer, Cape Coral Home Seller

    Cape Coral Utility Expansion Update

    Cape Coral City Council has announced that the utility expansion will begin again this month! Expect shovels to hit dirt soon if you live in any of the areas located on the map below.

    Assessment costs are relatively low compared to the past few projects completed. The city has opened a prepayment timeframe if you are able and wish to pay the balance in full. If you cannot, the assessments will be reflected on your 2014 annual tax bill.

    So what will it cost for homeowners located in SW 6 & 7? *amounts based on standard 80×125 lot

    • Initial hookup costs for the plumber, permit and water meter fee (approximately $1500) once utilities are made available
    • Prepayment discounts from August 22, 2013 through October 31, 2013 are estimated to total $15,411 including both assessments and impact fees
    • Prepayment discounts from November 1, 2013 through July 31, 2014 are estimated to total $15,828 including both assessments and impact fees
    • Assessments billed from August 1, 2014 on are estimated to total $17,178 plus interest (interest on assessments is approximately 4.08% & interest on impact fees is approximately 3.79% annually). So if you do not pre-pay your assessments or impact fees the total over the 20 year amortization paid on annual taxes will be $24,414 with interest
    • Tax billed amounts will be approximately $810/year for assessments (years 1-20) and approximately $1,369/year for impact fees (years 1-6). This will increase the annual tax bill by $2,179/year for the first six years; starting year seven the tax bill will be reduced by $1,369

    Contact Cape Coral utility billing for more specific information regarding your property. The city has also published a website specific to the utility expansion into SW 6 & 7 that will provide up-to-date and accurate information.

     

    SW 6&7 UEP Map

    We would love to hear from you! Whether you have a real estate related question or just want to know what the Cape is all about we're here to help. Fill out the form below and we'll get back to you as soon as possible or feel free to call us at 239.541.5363.

    Posted in: Cape Coral, Cape Coral Home Buyer, Cape Coral Home Seller, Cape Life Tagged: Cape Coral, utilities

    5 Things You Need to Know About Insuring Your Cape Coral Home

    Tile roof replacementInsuring a home in Cape Coral is different that insuring in other areas. Our weather is beautiful but can brutal on a home’s construction and mechanical components.

    Aside from cost there are five things that you need to know about insuring your Cape Coral home. As a current or future homeowner knowing these things up front can save you money.

    1. Four point inspection – If a home is 25 years or older it will be necessary when purchasing it to have a 4 point; the items looked over are air conditioning system, electrical, plumbing and roof. This is a separate cost from the actual home inspection.
    2. Wind mitigation inspection – Any home built prior to 2002 will benefit from a wind mitigation (this also applies to re-roofing a home of any age) and will potentially provide you with wind credits on your homeowner’s policy. Savings can range from $200/year and up. Cost of wind mitigation is approximately $75/up and is only needed once.
    3. Plumbing – Some types of plumbing will render the home uninsurable so it is very important to know what type you have and the general condition it’s in. PVC meets current code and copper is usually found in older homes. While copper is generally ok it should be checked at the joints for any leaks or severe corrosion.
    4. Roof condition – Florida sun and rain is hard on asphalt shingles; most only last around 15 years and replacing a roof is anything but inexpensive here. A home with an older roof (13+ years) will usually require a 3 year roof certification to obtain a policy.
    5. Electrical – Older homes were built with aluminum wiring and insurers are asking if there are any “double taps” or open sockets on the breaker panel. Any open sockets will have to be repaired prior to the insurance company binding your policy and must include all invoices, permits and photos.

    Always have a licensed inspector/contractor verify condition for you. Some of these things can be determined prior to contract and inspection by looking under sinks for type of plumbing and verifying permit history with the city and county. Homeowners that wish to sell their Cape Coral property would benefit from verifying this information prior to putting your home on the market also. Knowing any defects or potential negotiating points can help in pricing, marketing and finance availability for potential buyers.

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    Posted in: Cape Coral Home Buyer, Cape Coral Home Seller

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    1440 SE 16th ST $215,000

    1440 SE 16th ST CAPE CORAL, Florida

    3 Beds 2 Baths 1,511 Sq Ft 0.230 Acres

    About SHR

    Sharp Homes Realty is a residential real estate brokerage based in Cape Coral.

    1222 SE 47th St #213
    Cape Coral, FL 33904
    239.541.5363

    We are a tech forward, service based company that provides real estate brokerage services for buyers, sellers, rental owners.


    SHR does business in accordance with Fair Housing Law. This means we don't discriminate (nobody should).

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