Cape Coral Real Estate & the general region market conditions are starting to be very hot. Homes in demand are the newer ones priced around 79,000. Pool homes could be found at this price very newish. Now pool homes built after 2005 are seing a rise in price.
The brand new homes are not selling as much due to the cost of building materials being more expensive than the existing homes that are at, near of foreclosures. You can purchase foreclosed brand new homes now at prices you will never see again.
Cape Coral looks like one of the most attractive markets for low end properties between 60,000 to 300,000.
The homes with the most potential are the salt water properties which have the best potential for appreciation very soon due to supply and demand, Reason; you cannot build any more salt water canals. “supply and demand”
Condominiums are the second highest in demand under residential homes that are #1 for selling. It is the vacant land that is least popular. This is always the case. Builders not building, land will not sell well. This is the best opportunity for long term investments “vacant salt water land”. Another is fresh water land that has a lower purchase price and also lower capital growth. Both have near no maintence or care needed apart from taxes and mowing.
Mortgages rates are at there lowest since 1971.(around 5% depending on credit scores etc.) Banks are still very tight with loans and this is the biggest obsticle with buyers.
The current market conditions are very favorable for buyers. Interest rates at their lowest for many years. Demand is still fairly low and supply is high. These conditions combined are the best possible to find a home at a price not to believe.
In 4 to 5 years from now a buyer will realize that this was the best investment they have made in their lives. Conclusion: Buy now – Cape Coral Real Estate is HOT HOT HOT!
Cape Coral, Fort Myers, Fort Myers beach, and Bonita Springs Florida Real Estate market conditions and stats as of 1-18-09
4,599 residential properties for sale in Cape Coral
524 foreclosed homes offered by Realtors
2,102 of these are short sales.
104 Bank approved short sales
310 Pending sales since
1-1-09 residential properties
5,772 residential properties for sale in Fort Myers
470 foreclosed homes offered by Realtors
1,379 of these are short sales.
51 Bank approved short sales
206 Pending sales since 1-1-09 residential properties
527 residential properties for sale in Bonita Springs
70 foreclosed homes offered by Realtors
80 of these are short sales.
3 Bank approved short sales
13 Pending sales since 1-1-09 residential properties
718 residential properties for sale in Fort Myers Beach
4 foreclosed homes offered by Realtors
20 of these are short sales
0 Bank approved short sales
14 Pending sales since 1-1-09 residential properties
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