Suncoasteam Blog

12171 Eisenhower Dr, Port Charlotte, 33953

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Custom home fronting on the Myakka River with additional waterfront on adjacent creeks and canals consisting of over 2,600 feet of frontage. Easily subdivided into several highly valuable waterfront homesites with outstanding views. Enjoy the magnificent panoramas of the beautiful Myakka river in complete privacy from this luxurious home, resting on 23.4 acres (m/l) of lushly wooded grounds. This well designed and tastefully decorated home features maple wood floors, a large Jenn-Aire island kitchen with a large walk-in pantry, and glass-fronted cherry wood cabinets, soaring ceilings, an antique brick fireplace, 2 master suites with walk-in roman showers, a Jacuzzi soaking tub, top of the line Moen fixtures throughout and balconies and porches galore. Located just 15 minutes from Charlotte Harbor, opportunities for fishing, boating and water sports abound. This property is a prime location for development of a low-density waterfront neighborhood with no low fixed bridges and only the El Jobean bridge to the Gulf with a high, 24 ft clearance.

Front view of home and lawn

Great Room

Jen-Aire Island in Kitchen

Built-in microwave and oven

Formal Dining Room

Comfortable Den for TV

Lanai to back lawn and relaxing views of the Myakka River

Back lawn and river

Ground level lanai

Second Floor Master

View to southwest from second story porch

...and a little farther south

... and even farther south

... and around to the southeast

... and more of the view

... and back toward the west

... and northwest

View to the northwest from second upstairs bedroom at front of house. Notice long canal where slips can be set.

... and view to the north where lots can be subdivided

... and high-ground acreage north of the current homesite

... and northeast

Downstairs master bedroom suite

Master sitting area with windows to the lawn and Myakka views

Jetted tub with private garden views

Front view of home

Rear lawn view of home

... additional rear view of home

Wide view of the Myakka and room for more dockage

... along the shore to the northwest and the entrance channel to the canal

... and back to the house

... across the back lawn

The wide, long lawn with plenty of room to relax...

Close up of the rear with lanai and balcony...

... and more

... and from the back lawn...

... from the side of the house...

... front flower gardens....

... relaxing Koi pond...

... formal front sitting porch...

Formal entry

Thank you for visiting.

For a private viewing appointment of this home, please call Jim Mulligan at 941-456-3034 or email for more information: jim@suncoasteam.com

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According to an article in the New York Times on Friday, 11/19/2010 by DAVID STREITFELD, the number of homeowners behind on their mortgage payments has lessened. It is the lowest rate of delinquency since 2009.

According to the article, the reasons are the improving economy and banks willing to offer some borrowers mortgage modifications. Seriously delinquent mortgages fell during the third quarter to 8.70%.

In this market it sure seems we have hit bottom. Investors are buying rental homes and sales of non-foreclosed homes are rising. In our office, we now have highest number of pending sales in over one year.

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A mortgage broker in Ft. Lauderdale is using an old Florida stature from 1869 to save abandoned homes and may face consequences. Using the a statute called adverse possession, common in all 50 states, the broker is finding homes that have been designated by the county as a “public nuisance”. He then cleans up the home, pays the taxes and rents the properties for low cost to needy but responsible tenants. He has made it clear to the tenants that he is not the owner of the property in a clause in the lease. They are just happy to have a place to live.

The adverse possession stature requires that a property be maintained openly and continuously for a period of at least seven years. This means cleaning it up, paying taxes and utilities and using it as one’s own.

Many owners of adjacent and nearby properties are very happy with the new tenants and feel it makes the neighborhood safer, more attractive and helps property values. Local authorities disagree and the broker is scheduled to go on trial in December (2010) in a test case of the statute. The broker faces up to 15 years in jail.

If owners and banks do not take responsibility for abandoned properties, someone must. The towns consider them a problem but are doing nothing. More people should do as this man has. Neighbors should form committees to clean up these homes and help their neighborhoods. And towns, cities, counties and states should cooperate by allowing them to do so. Once a property has been designated a nuisance, governments should protect individuals or committees which maintain these derelict properties. They should protect any investment, allowing a lien on the property for taxes and expenses.

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In a recent report it was stated that 31% of defaults could be strategic. That means the property owners can probably pay their mortgage but choose foreclosure rather than continue to pay a mortgage that is higher than the market value of the property. The home is not their abode, but simply an investment. People are abandoning properties even though they can still afford to pay.

People sometimes feel remorse but banks gave people who wanted to refinance and continue to pay their mortgage a hard time. Underwrites claimed that because the home would not appraise, the owner would not qualify for a new mortgage. The banks forced their hand.

According to the report, Chris Deaner of Sun City, Ariz., told CBS’s “60 Minutes” he was fed up. Deaner and his wife bought a house in 2006 for $262,000 but the property is worth only $142,000 on today’s market. He asked his bank for help. “They refused to,” he said. “They said it was gonna affect my credit and they were gonna take my house. And I pretty much said, ‘Go for it.’” This was a family willing to work with the banks but the bankers refused.

Until we see more cooperation from the banks we will not see a speed up of the turn around.

Still, it is a buyer’s market and there are many great deals in Charlotte, County, FL, especially for those with cash.

View listings at Our web page. Homes, condos and land for sale in Southwest Florida.

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The newspapers are still filled with articles and editorials about the so called mortgage mess. The federal reserve is looking into banking practices and there is certainly a need for legislation that encourages lenders to modify loans. Many owners would benefit from a simple adjustment in the interest rate the banks charge. With rates at an all time low, owners who are responsible and do not want to lose their homes cannot get the banks to cooperate. I know of one owner who only wants to refinance the loan at a lower rate. Because the value has decreased, the bank will not consider refinancing. The home does not “appraise”.

OK, let me get this right. The owner wants to honor his responsibility to pay his debt. He has great credit a good job and could easily get the mortgage. Times are tough and he and his wife are struggling to meet their obligations but they are stretched to the limit.

The bank owns the note and if the owners cannot pay the current mortgage, they will end up losing the home. If they could refinance, their payment would go from $1,265 to $983. A $300 / month concession that would guarantee that the bank does not have to foreclose. But the bank refused the mortgage because the home they already have on their books has fallen in value.

The owners do not even want the bank to reduce the principal, only allow them to refinance.

This is the kind of thing that will get the public outraged. They will demand new legislation that will cause the banks to force banks to modify loans. If the banks would only cooperate with owners they could avoid most of the new regulations… and there will be new regulations unless banks amend their practices.

While there is much reason for concern, there are also many opportunities for buyers. There are many foreclosures and many more private sales where sellers own the homes out right or have a small mortgage. These sellers can afford to price their properties competitively. It is always much better to buy a well priced home from an individual that a foreclosure or heaven forbid, a short sale. The properties are almost always in better shape, you can negotiate much faster and usually have a much faster response. Individuals are more receptive to negotiations and if there is a problem uncovered during inspection, more apt to repair the defect.

For more information about homes for sale in this area, please visit our website: Homes For Sale In Port Charlotte, Punta Gorda, North Port, Englewood, Rotonda FL

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