Bonita Springs – Estero Active Single Family Homes
June 2016: 687
May 2017: 673
June 2017: 659
Bonita Springs – Estero FLorida June Closed Single Family Homes
June 2016 vs. June 2017
Average List Price $522,ooo vs $575,000
Average Sale Price $496,000 vs $542,000
Average List to Sell Ratio 95% vs 95%
Inventory 5.4mo vs 4.4mo
Qualifying with Delinquent Federal Tax Debt:
Delinquent federal tax debt that does not appear on a borrower’s credit report, or on the title report may remain unpaid provided the following:
Borrower has entered into a valid repayment agreement with the federal agency owed, at least one month of the scheduled payment has been made on time and payment amount must be included in the calculation of the borrower’s debt to income ratio.
Federal tax liens that appear on credit report or a title report: May remain unpaid providing the following: borrower has entered into a valid repayment agreement with the federal agency owed, at least three months of scheduled payments have been made on time, payment amount must be included in the calculation of the borrower’s debt to income ratio.
Borrower cannot pre-pay scheduled payments in order to meet the required minimum of three months of payments.
Low inventory/contingent offers/move up buyers?
Bridge loans may be the answer for those that wish to purchase but have a home they need to sell first. Bridge loans allows the homeowner to buy a new home before selling their current home. Under certain terms, a borrower’s home payment is eliminated so they only have one payment while they sell their current home. The equity in their current home can be used as the down payment for the new home. No principal/interest payments on the bridge loan required for up to 12 months, while the current home is being sold, no application or prepayment fees/penalties and the bridge loan can be used for single family homes and condos that are primary residences. Let me know if you need help with this. I have fantastic lenders to help!
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