Gulf Coast Associates' Blog: All Categories

Beginning October 1, the costs to replace a roof in Florida are expected to rise by at least 25% - and even more if you live in a coastal community. The increase in cost is due to a new law the state Legislature passed in May that increases the building code requirements to help strengthen homes against hurricanes.

Experts agree that adding such new protections can only help, but builders, consumers and insurance companies are seeking clarity. Liability issues and insurance discounts top the lists of concerns. In addition, some of the new requirements are structural in nature and most roofing companies are not certified to perform those types of changes. They will require the hiring of a general contractor and that is sure to drive the costs up even more.…

If you've found yourself in the nerve wracking and precarious position of not being able to make your mortgage payments - or you're consistently paying late and receiving phone and mail contacts - this information is custom made for you. It may surprise you that most mortgage servicers (the company that collects your payment) want to work something out with you. However, if you don't answer their phone calls or respond to mail inquiries - then you're not going to get any help and will probably lose your home and ruin your credit for years to come.

Based on the reason why you've become delinquent, the mortgage company may suggest plans to help get you current again. But, be aware that ignoring them will not make the situation go away and the longer you…

I first met Dean-O Hicks when I moved to Bonita Springs in 1998. He was running Master Bait and Tackle shop at the time and more than a few old timers said he was the man to see for anyone wanting to learn about fishing here in Southwest Florida. Being from the Midwest, I was well versed in fresh water angling techniques but had no idea what to do when it came to fishing in salt water.

All I can say about Dean is that he didn't know me from the next guy, but he never hesitated when I asked if he could help. Over the course of about a month he spent quite a few hours of his own time teaching me the ropes. He was patient, funny and kind. What struck me most about him, other than his wealth of knowledge, was his passion for the sport and his willingness to…

The Federal Open Market Committee, the monetary policy arm of the Federal Reserve, held their September meeting today and by unanimous decision, lowered both the Fed funds and Discount rates by 50 basis points each. It was a bold move to help an economy trying to deal with the recent developments in the financial markets; specifically, a tightening of credit conditions that was intensifying the housing correction.

The rate cuts are designed to forestall adverse economic conditions, foster price stability, sustain growth and hopefully ward off the potential for a recession. In addition, they will help with the growing foreclosure situation, keeping mortgage rates low and give a boost to the ailing housing market.

Recent evidence shows that the risk of…

Although purchasing a foreclosed property may be a home that is significantly undervalued for the surrounding market, all the experts say that may not always be the case. The key is to "go slowly and carefully" and do your homework first. To do otherwise, could turn a potentially good purchase into a costly mistake.

Once you've located a foreclosure property through either a public records search, newspaper ads, the web, or your agent - you need to find out what comparable homes in the same area sold for in the not to distant past. Try to keep your comparables as close in kind to your property as possible - same number of bedrooms and baths, garage, lot size, and square footage. Concentrate on properties that have sold in the last six months and that are…

As those of you who have read our Blog before know, we are not fond of how a large segment of the mortgage industry has conducted itself in the last few years. Common sense went out the window in order for lenders to make huge profits under the guise of helping borrowers obtain more housing opportunities. Unfortunately, it doesn't take an economics degree to see where that got us. Making bad loans because you can does not mean you should. And, originators making them in order to pad their income is even worse.

Perhaps the saddest part of all is that, to date, we've seen very little of the industry actually doing anything to curb the abuses. In fact, we were dumbfounded recently after attending a seminar, where it was made crystal clear that subprime is…

The mid year city of Ft. Myers Beach real estate sales statistics for both homes and condominiums are listed below. Ft. Myers Beach is located on Estero Island and is the "happening" locale on Southwest Florida's Lee Island Coast. Crossing the Sky Bridge from Ft. Myers lands you smack in the middle of Times Square amid the gaily painted storefronts, beach shops, and outdoor dining - it's where everyone meets and all the action happens.

Ft. Myers Beach offers every amenity you can imagine- from seven miles of wide sandy beaches, golf, boating, fishing and more than anything else - relaxing. The Beach, as its known, is eclectic and diverse. It draws visitors from all over the world and you'll find all sorts of folks from generations of families to Easter…

We wanted to give you an update on our government reform post regarding the announcement of the new FHA Secure mortgage refinancing program. FHA Secure is designed for families who are good borrowers but were steered into high-cost ARM loans with teaser rates.

To qualify for FHA Secure, eligible homeowners must meet the following criteria:

• The loan must be a non-FHA ARM.
• A history of on-time mortgage payments "prior" to the borrower's ARM loan resetting to the higher rate.
• The Arm loan interest rate must have either reset or be scheduled to reset between June 2005 and December 2009.
• Mortgage late's are allowed after the reset date if they are directly related to your higher loan payment. In addition, if you are in a mortgage…