The importance of escrow agents
Dear Mr. Feichthaler:
I have a situation I hope you can help with. I bought a home with my partner when we moved here from Connecticut 10 years ago, which we each held 50%. Although it was his intention for me to own the home if he died, we never changed the deed to be jointly held, and I wasn’t named in his will. As a result, his two children inherited his half when he passed away in 2021.
There wasn’t a lot of equity in the home, so I offered them $20,000 in exchange for them quitclaiming the property to me. We signed an agreement to that effect. I sent them the $20,000 in 2021, and I assumed that they took care of preparing and the loan, I discovered they are still on 50% ownership of the property.
I have tried to reach out to them, but they are not responding back. I thought our relationship
Real Estate Law
A rundown on scarifying
Scarifying helps to remove thatch, which can hinder grass growth by blocking water and nutrients from reaching the soil.
To those unfamiliar with lawn maintenance, the term “scarify” might sound like something horror movie directors hope to do to audiences who watch their
green and healthy lawn.
- Ashley P.
Dear Ashley:
I am disappointed to hear you are in this situation, as it appears you tried to do everything to reach the correct result. Based on the facts presented, you entered into a legally binding agreement to purchase their interest in the property. First, I would make another attempt to reach them and ask them to meet their obligations under the agreement. The Agreement should be read carefully to determine who is responsible for the costs of completing these tasks, who is responsible for documentary stamps, etc. It is possible you are required to prepare these documents. If so, I recommend you have an attorney review the agreement and prepare the necessary documents to provide you full ownership of the property.
If the two other owners refuse to cooperate, your only other option is to pursue legal action in our courts. Actions could include breach of contract, quiet title, and other potential causes of action to gain full ownership. Again, a full review of the agreement and other facts is required prior to proceeding.
The lesson you have learned, unfortunately, is the importance of an escrow agent in any real estate transaction. In every real estate transaction I conduct, one major role is to acquire all necessary documents and funds from both sides, and only then complete the transaction, record deeds, and send funds to the seller. When a party sends money directly to the other, it could lead to situations just like this where the only recourse for the aggrieved party is in the courts. Given the high value of the
a lawsuit. Litigation is expensive, time consuming, and results are never guaranteed.
I wish you a speedy and amicable result!
Eric P. Feichthaler has lived in Cape Coral for over 35 years and graduated from Mariner High School in Cape Coral. After completing law school at Georgetown University in Washington, D.C., he returned to Cape Coral to practice law and raise a family. He served as mayor of Cape Coral from 2005-2008, and continues his service to the community through the Cape Coral Caring Center, and Cape Coral Kiwanis. He has been married to his wife, Mary, for 22 years, and they have four
and primarily practices in real estate law and wills and trusts. He is AV Preeminent rated by Martindale-Hubbell for professional ethics and legal ability, and is a Su-lattorney .com, or 239-542-4733.
This article is general in nature and not intended as legal advice to anyone. Individuals should seek legal counsel before acting on any matter of legal rights and obligations.
What does it mean to scarify a lawn?
remove dead organic matter that can build up on a lawn over time. When such thatch develops and settles in on a lawn, it can hinder growth by blocking water and nutrients rake in a smaller lawn or one where thatch buildup is not water and nutrients, such as those which are often found in fertilizers.
Lawn and garden tools make yard work easier, and a compared to more costly machines like lawn mowers and easier, some homeowners might be able to get by with a spring-tined rake. However, it’s less labor-intensive to
Are there additional reasons to scarify?
Thatch buildup also can promote the growth of moss, so scarifying can decrease the chances that healthy grass is pushed to the side by sponge-like moss that can quickly overtake a property.
Is there anything I should know about scarifying?
produce a substantial amount of thatch, which can be made up of old grass clippings, leaves and moss. Though the thatch, such baskets tend to be rather small and a considerable amount of time to the job. If possible, buildup might want to scarify without the bucket attached.
Eric P. Feichthaler
Doing so will leave lots of piles of dead organic matter strewn about the yard, but the job is likely to go more quickly if
Homeowners also should not expect their lawns to stun after a scarifying session. The lawn will likely look worse, but that’s only temporary. Once the dethatched lawn gets some water and fertilizer, the soil beneath will be more ready to receive them, and the lawn will soon look much better.
products. They also will need to negotiate around the cord, which should be a lengthy extension designed for outdoor use. to come by than their electric counterparts, and could be considerably more expensive as well.
Various lawn professionals recommend scarifying a lawn at least once per year, and springtime is a popular season to do so. Scarify prior to an initial fertilizer application so that does not block the lawn from getting the nutrients in the fertilizer. A second scarifying session may be necessary in fall.
Scarifying can be an important step in creating a stunning and healthy lawn.
Article from Metrocreativeconnection.com.
from Shutterstock.com
Photos
PROPERTY TRANSFERS
Source: Lee County Property Appraiser
PROPERTY TRANSFERS
January condo results for Florida and the Cape
Before we get into the January sales numbers and the current active and pending sales data for the Cape Coral condo market, let’s take a quick look at the numbers for Florida’s overall condo market. This information is from a Feb. 21, 2025, article in the Florida Realtors online newsletter written by Marla Martin, titled, “Florida’s January Housing: New Listings, Inventory Rise.” The data, compiled by the Florida Realtors Research Department, showed that there were 5,787 existing condo sales in Florida during January, which was down 3.7% from January 2024, while the statewide median sales price for condo/townhouse units was $312,500 in January, or 2.3% lower than a year ago. The year-over-year growth in new listings for condos in January was muted, up only 6.7%, but the 18,865 condos that came onto the market broke the record for the most new listings ever for condos in a single month in Florida dating back to January 2008 when the Florida Realtors Association
up 39.3% this January compared to January 2024, as Florida Realtors Chief Economist Dr. Brad O’Connor noted the growth in condo listings continued to outpace sales. The report also showed that there was a 9.1-month supply of condos on the market throughout Florida in January.
Active Cape Coral condo listings
As of Monday, Feb. 24, there were 499 active condo listings in the Cape
the current median list price for condos came in at $259,900. On Jan. 1 of this year, there were 422 active condo listings ranging in price from $135,000 to $1.67 million and the median list price was at $266,000. One year ago on Feb. 27, 2024, we also had 422 condos listed for sale in the Cape ranging in price from $149,000 to $3.9 million and the median list price was higher, at
and to one year ago, while the median list price is down 2.3% since Jan. 1, and it is 13.1% lower than a year ago. As a point of reference, on Jan. 2, 2024, there were 362 condos listed for sale in the Cape ranging in price from $158,700 to $3.9 million and the median list price was $299,000. Two years ago on Feb. 28, 2023, we only had 224 active condo listings in
median condo list price is down by 18.8%, after dropping by $60,050 in the last two years, while the number of condos listed for sale in the Cape have increased by 122.8%.
Just to dig a little bit deeper into the current active listing data for Cape Coral condos, as of Feb. 24, a total of 291 of
were priced at $275,000 and under, including 118 condo units listed for less than $200,000. About eight weeks ago on Jan. 1, there were 232 condos listed at $275,000 and under, with 87 of these units priced below $200,000. At the other end of the price spectrum, there are currently 64 condos listed at $500,000 and above, including 15 condos at $1 million and above. Back on Jan. 1 of this year, there were 60 units listed at $500,000 and above, with 13 of these 60 priced above $1 million. Looking back about 14 months ago on Jan. 2, 2024, there were only 135 Cape Coral condos listed at $275,000 and under, with only 31 of those units priced below $200,000. At that time, there were 44 condos on the market for $500,000 and above, with 14 of these units listed above $1 million.
Current number of pending condo sales
January, which was 29.6% higher than the 27 condo sales in January 2024, and 6.1% above the 33 sales in December. The January median sales price came in at $259,000 for the overall Cape Coral condo market, which was 8.2% below the $282,000 posted in January 2024, but 2% higher than the $253,900 posted in December. The overall monthly supply of unsold condos in the Cape came in at 16 months in January, which was 11.1% lower than the 18 months of supply registered in January 2024, but up 6.7% from the 15 months of supply in December.
Gulf access canal condos
In the Cape Coral gulf access canal condo segment, which includes all “saltwater” canal condos, there were 20 closed sales in January. This was 81.8% above the 11 condos sold in January 2024, and 33.33% higher than the 15 sales in December. The January median sales price came in at $307,450 in this segment, which was 0.8% below the $310,000 posted in January 2024, but 3.2% higher than the $298,000 in December. The unsold supply was 14 months in January, which was 30% less than the 20 months in January 2024, and 12.5% below the 16 months of supply in December.
Direct sailboat access canal condos
In the Cape’s direct sailboat access canal condo segment, which is a subgroup of gulf access condos where boaters have no bridges to go under in the canal system to reach open water, there were 15 closed sales in January. This was 150% more than the six sales in January 2024, and 25% more than the 12 sales in December. The January median sales price was $410,000 in this segment, or 20.6% above the $340,000 from January 2024, and 36% higher than the $301,500 this past December. The level of unsold supply came in at 11 months in January, which was 45% below the 20 months of supply in January 2024, and even with the 11 months of unsold supply in December.
Dry lot condos
In the Cape Coral dry lot (non-canal) condo segment, there were 12 closed sales in January, which was even with the 12 condos sold in January 2024, but 25% below the 16 sales in December. The January median sales price was $205,500 in this segment, or 3.3% below the $212,500 posted in January 2024, and 2.6% lower than the $211,000 in December. The unsold supply was at 19 months in January, which was 5.6% more than the 18 months of supply in January 2024, and 46.2% above the 13 months of unsold supply in December.
The sales data for this article was obtained from the Florida Realtors® Multiple Listing Service Matrix for Lee County, Fla., as of Feb. 23, 2025, unless otherwise noted. It was compiled by Bob and Geri Quinn and it includes information
does not include any single family homes, short sales, or foreclosures. The data and statistics are believed to be reliable, however, they could be updated and revised periodically, and are subject to change without notice. The Quinns are a husband and wife real estate team with the RE/MAX Realty
Geri has been a full-time REALTOR since 2005, and Bob joined Geri as a Cape Coral residential property and vacant lots.
As of Monday, Feb. 24, there were 62 Cape Coral condos under contract with buyers as pending sales at prices ranging from $85,000 for a small one-bedroom unit to $1.67 million. The second lowest priced pending sale was for $134,000 and the current median pending sales price for Cape condos is $244,900. A total of 44 pending condo sales were priced at $275,000 and under, equaling 71% of the market, with 18 of these units below $200,000. There were nine condos under contract above $500,000 and three of these units were pending for more than $1 million. On Jan. 1 of this year there were 39 pending condo sales in the pipeline at prices ranging from $125,000 to of this year, there were 22 pending sales at $275,000 and under, with eight
sales has increased by 59% since Jan. 1, and the number of pending sales at $275,000 or less is up by 100%, with the number of units priced below
$500,000 including two units above $1 million on Jan. 1.
The Cape’s overall January condo numbers
In the overall Cape condo market, there were 35 closed sales in the month of
Fri. 2/28/2025 12-4pm 2926 SW 1st Ave, Cape Coral, FL 33914 $385,000
Fri. 2/28/2025 10-12pm 1213 Chiquita Blvd N, Cape Coral, FL 33993
Fri. 2/28/2025 11-4pm 1110 Lorraine Ct, Cape Coral, FL 33904
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Sat. 3/1/2025 10:30-1pm 1223 NW 14th Ave, Cape Coral, FL 33993
Sat. 3/1/2025 11-4pm 1110 Lorraine Ct, Cape Coral, FL 33904 $1,890,000 Brad Peska Experience Real Estate Group
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Sat. 3/1/2025 12-3pm 1811 Savona Pkwy W. Cape Coral
3/1/2025 12-3pm 3445 NE 21st Ave Cape Coral
$778,000 Kelly Elen-Lavery Experience Real Estate Group
Lindsey Svarczkopf Coldwell Banker Realty Sat. 3/1/2025 12-3pm 3418 SE 19th Ave Cape Coral
Sun. 3/2/2025 11-2:30pm 2043 SE 29th St, Cape Coral, FL 33904