July 2012





 


Independence Day 
On July 4, 1776, we claimed our independence from Britain and Democracy was born. Every day thousands leave their homeland to come to the “land of the free and the home of the brave” so they can begin their American Dream.

The United States is truly a diverse nation made up of dynamic people. Each year on July 4, Americans celebrate that freedom and independence with barbecues, picnics, and family gatherings.

Happy Birthday, America!



4th of July in Southwest Florida
Not sure of what to do on Independence Day? Here's a brief list to help you decide what to do for a fun-filled 4th of July in Southwest Florida. No matter what festival you attend, you and your family are guaranteed to have a wonderful time with breathtaking fireworks.
Cape Coral will celebrate its "Red White and Boom" event taking place on Cape Coral Parkway, with fireworks on the Cape Coral bridge.  Go early and have fun walking through the many booths set up with food, drinks and merchant displays. The party starts at 4pm and ends at 10pm. Fireworks are scheduled for around 9:15pm.
Downtown Fort Myers River District will be the hosting “Fourth of July Freedom Fest”.  Expect lots of food, drinks, live music, fun games and activities for all.  The block party starts at 6pm with 5 stages of live band performances and fireworks scheduled for 9:30 pm.  The event is free to all. Remember not to bring coolers but do make sure to bring lawn chairs or something to sit on.
Fort Myers Beach will be celebrating “Fourth of July on the Beach” starting with a parade up Estero Blvd at 10am and fireworks on the Fort Myers Beach Pier sometime shortly after dark.  There will be food, fun and fireworks. Free for everyone!
Sanibel Island will kick off their Independence Day celebrations with a parade on Periwinkle Way at 9:30 am on July 3. Since everyone in the parade and along the route all know each other it can be a very casual, sometimes even raucous, “hometown” kind of affair. Parade participants and audience members may be packing water pistols; consider yourself warned!
Then on the evening of July 4th there will be a wonderful fireworks display, launched over the water from the foot of Bailey Road.
For me personally, the best part about all these events is that no matter where you are in our area you can see fireworks lighting up our night skies. At times it seems as if we’re surrounded by a 360 degree panorama of fireworks!  Whatever event you choose to attend, remember to arrive early to ensure that you’ll find parking and that you will get the best spot possible to watch the fireworks. And as always, have a safe and fun time this Fourth of July! 




ARE BANKS “HOARDING” FORECLOSURES?
According to recent surveys home prices are on the rise, particularly in warm-weather areas such as Florida. But some industry experts are concerned that the rise in prices may be only temporary due to banks “hoarding foreclosures.”

Some real estate professionals allege that the “synthetically pumped prices” are being caused by “banks stockpiling foreclosed properties and purposely keeping them off the market until area prices truly soar.”

Some regions are seeing a decrease in inventory of for-sale homes, which has lifted home prices due to an increase in demand. But real estate professionals say they’re concerned that the supply-demand factor raising selling prices is only temporary and will turn around when banks start releasing their foreclosures into the market. Some have accused banks of purposely holding onto foreclosures to wait for home prices to recover so that they can get higher returns for the homes, but real estate experts worry that the tactic could stall the housing recovery.

However, Mark Vitner, senior economist for Wells Fargo, says that large banks are not hoarding foreclosures and waiting for prices to perk up.
“I don’t think there’s any concerted effort to hold properties back from the market,” Vitner said. “The process to (work through and re-sell) foreclosure inventory is lengthy and there just seems to be a lot of hurdles out there to getting these properties to market. A lot of the best properties have been in foreclosure and have already sold.”

Backing up that assertion, CoreLogic, a market analytics service, reports that residential shadow inventory – which includes foreclosures – fell to 1.5 million units in April, a 14.8 percent drop from the same month one year earlier.

Source: “Home Prices Higher for Third Straight Month as ‘Sand States’ Drift Away From Crisis,” MSNBC.com (June 26, 2012)



CENTURY 21 BIRCHWOOD REALTY, INC.

4040 Del Prado Boulevard,  Cape Coral, FL 33904
Ph. 239.851.6235 | Fx. 239-542-0993

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