Buyer’s market or seller’s market in Cape Coral Real estate

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The number of foreclosure has hit the its lowest level. Today, when I checked those bank owned properties for Cape Coral, there were only 214 units. For your information, there were 1085 in December 2010. And that’s most likely why we see more interest in the non distressed market, often with multiple offers.

All is all, there are 1774 properties for sale in Cape Coral and we have experienced 451 sales in the last 30 days. That’s mean we have about 3 months inventory out there, making it a seller’s market now. And if you add the fact that multiple offers occur more often now, buyers have a harder time to have their dream home under contract. That is exactly what my french speaking buyers from France experienced. They use to make a search online for ” maisons a vendre a Cape Coral “, find me there, give me a call to begin the search and get very frustrated after looking around for a few weeks, seeing nothing good is available anymore.

Cape Coral luxury foreclosure

Cape Coral luxury foreclosure

The thing is, today, if you plan to buy a property here, be prepared. Get your financing handy, bank letter, pre-approval. And once you see a property you like, make that offers good enough to have the seller put his signature on your contract. Unfortunately, if you don’t act quickly, chances are the property will be pending before you realize it. Prices are still the lowest in the nation here, especially if you compare the amenities that Cape Coral is offering with cities in the middle of Tennessee for example. Not only the weather is more attractive, let’s face it, but also the proximity of the water, with the gulf of Mexico and the beaches.

So, in my opinion, 2012 shows the switch from a buyer’s market where sellers were waiting for a single offer to show how low was the price offered to a seller’s market where the buyers are competing so ferociously to have a chance to buy that property at often a price above the asking price.

If you are entering the market for selling or buying a property in the Cape, give me a call or send me an email. There is still time to find your dream house at an excellent price, but don’t delay.

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Comments (0) Mar 25 2012

Cape Coral is the highest rising home prices

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The very serious Real Estate section of Yahoo has brought something very interesting a couple of months ago, and a very good news for people who bought a home in Cape Coral in the past 12 months. And not only in the Cape Coral real estate but also all around, like Lehigh Acres or Fort Myers. The good news is that Cape Coral is the highest rising home prices in the U.S.!

Price differences show an increase of 12.1% for the last 12 months far ahead from Bridgeport-Stamford in Connecticut, but with still a median price of$100,000 for a typical 3 bedrooms 2 bathrooms house. But the number of foreclosure is still important with 1 foreclosure for every 92 homes. That alone will probably decrease the price rise into the single digit. It will remain steady in my opinion though because the median price is still the lowest nationwide, but steady because more and more people see a perfect place to retire when they think about the sunshine state.

Cape Coral italian style foreclosure for sale

Cape Coral italian style foreclosure for sale

The city of Cape Coral show only a 4 months’ supply of properties, which has to rise prices and demand. Lehigh Acres has only a 1 month’s supply and the rumor about how secure is the city is decreasing as well. People begin to realize that crimes in Lehigh Acres were made by A/C, pool and water system professionals in search of free parts by stealing A/C, pool equipment and water system equipment from abandoned foreclosed houses there. Those foreclosure having disappearing rapidly, those parts are no longer available and crimes rate has melted like snow under the sun.

So, this is an excellent news for our community and I really hope you bought within the last 12 months. If not, and if you still want to take the running fast train to real estate wealth, feel free to give me a call at 239-240-7346 or send me an email at info@1capecoral.com.

Here is the link to that Yahoo Real Estate article.

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Comments (0) Mar 13 2012

Want to buy a Cape Coral home in 2012? 5 Things To Do NOW

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If 2012 is your year for home hunting and purchase, here is a list of 5 things you should consider to do NOW before anything else.

  1. 1. Check your credit. And I’m serious about that. Make a copy of your credit report online and review anything that can show negative transaction. Call the credit bureau in charge and fix your problem. There is nothing worse than finding the perfect home at the perfect price, getting ready with the down payment and everything and learn that you have been denied because of your bad credit. So, if there is any problem there, fix it now.

  1. 2. Do your homework. Do you research online about 1 month before buying. Check the neighborhood, the market value, compare the foreclosure with the regular market, learn about short sale and see if it’s for you. Shop around for the best terms mortgage out there, call 4 or 5 mortgage broker and compare what they need and they fees/expenses. Ask them what documents you need to be qualified. Ask to be approved for a loan before even getting out to see properties. It’s frustrating to fall in love with a home that is price at $10,000 more than you can afford. Everything else will be disappointing at that point!

  1. 3. Fluff up your down payment. Make sure to have a full understanding of the money you have to bring at closing, all fees including. Again, it’s frustrating to be short of a couple of thousands dollars in front of the home of your dreams. Get your finance in place and ready to go.

  1. 4. Grow your cash. You’re gonna to move. So double check all that stuff that you didn’t use for the last 12 months or more. You won’t probably never use it ever. So make a big yard sale of that stuff, sell them on ebay or on craigslist and keep the money for your down payment or for some work you’ll need to do in your new home, like painting or new moldings.

  1. 5. Be prepared. If you want to purchase a great deal, like a foreclosure, be prepared. I wrote a guideline about being prepared to make an offer on a foreclosure: Cape Coral Foreclosure . I have come across a lot of excited people like kids in front of a toy getting frustrated with those above asking price multiple offers. So being psychologically prepared will help you to handle your purchase.


Once you have everything ready and you have prepared yourself for your 2012 home purchase, feel free to give me a call at 239-240-7346 and I’ll prepare some visits and will help you during your transaction to make it as smooth as possible.

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Comments (0) Dec 17 2011

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