If you are a homeowner considering short selling your home, taking the right first step can make the difference in short selling your home or having a foreclosure on your credit report in Naples short sales. The first thing most homeowners do who want to short sale their home, is contact a realtor. While this strategy may be okay if you in a standard real estate transaction, in a short sale it may prove to be disastrous. Real estate brokers and agents in Naples, Florida expressed mixed responses, when asked about the new legislation - some saying the new rules are rigid to get qualification for loan modifications; some are of the opinion that short sale should be encouraged further; and a majority of them are concerned by the inordinate delay and slow processing of short sale requests by the lending institutions.

Short sale selling is the act of selling real estate when the sales proceeds are short or not met according to the outstanding balance on the loan owed on the property. It frequently comes about if a borrower can't pay off the real estate loan on their holding, but the loaner determines that selling the holding at a small and moderate loss is more effective than pressuring the loan borrower. Earlier, distressed home sellers applying for short sale option had to wait for the approval or denial of their application by lenders, somewhere from 3 to 4 months. There were cases which prolonged for more than a year too, to get an answer. The new program stipulates that lenders should approve or deny the application within 10 business days.

In the current market turmoil, it may be time for investors to look at apartment deals. We have all heard the old adages that apartments are great in that you have one roof, one mortgage, one insurance payment and all in one location instead of chasing your tail all over town with multiple single-family rental homes. If you have one vacancy in a single family rental home you are 100% vacant. If you have one vacancy in a quad apartment you are only 25% vacant. This is the major difference between multi-family and single-family properties. If the homeowner does not have enough finance for repayment then short sale might be the only effective way to prevent foreclosure which might lead to bad credit rating for the homeowner. In this case the lender is made to accept the outstanding dues and finish the deal ad accept the payment covered by the sale of property.

The real estate market became the best in the Orlando market, then was overshadowed by the SW Florida market of Naples, Ft. Myers, and Cape Coral. What more can the baby boomer market ask for? Every day of sunshine, palm trees, fishing, golfing, and most importantly, boating. The arm corp of engineers years ago dredged over 400 miles of intercoastal and fresh water canals throughout Cape Coral, using the dredged dirt to fill in the wetland and marshy areas.