Cape Coral Florida Real Estate

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

Our 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. Few brand new homes are selling due to the cost of building materials being higher than the existing homes that are at, near of foreclosures. You can buy foreclosed brand new homes now at prices you will never see again.
Cape Coral seems to be the hottest market in low end properties between 60,000 to 300,000.
Salt water font home 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 2^nd in demand under residential homes that are #1 for selling. Last in demand is vacant land. 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 acquisition price and also lower appreciation. Both have near no maintence or care needed except for taxes and mowing

Mortages are down and the 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 present market conditions are very favorable for buyers. Interest rates at their expected lowest rates. 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.

Presented by Joseph Beauvais, Sunny Spot Realty inc.  Dealing in Cape Coral Real Estate and surrounding areas.