Cape Coral foreclosures at the lowest now

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In the field, we all agree, it’s a seller’s market now. Several major cities in the country show a solid level of activity that increase Real Estate prices slowly but steadily. And Cape Coral is no exception. I see we are headed to a much more normal market now, and the fact that we just got below the 200 foreclosures mark for Lee County is a good sign.

As I often say to my clients over the phone or email, we had a peak of 1,085 foreclosure at any given day in December 2010. Today, we had 196 foreclosures. And that number is decreasing on a daily basis. So we are inexorably entering a much more normal market.

Congratulations to all buyers who bought a property ion Cape Coral or around last year or even in 2010. They officially bought at bottom. And I predict that if they hold for another 3 to 5 years, they will build some great equity in their properties.

And for those who were on the fence, waiting for the best deal to appear to them, that boat has sailed away. We are in a seller’s market and purchase prices at asking prices or higher are not uncommon. I even see multiple offers on a majority of the deal I come across.

Knowing that Lee County in general and Cape Coral in particular have the lowest single family priced in the country, I have a lots of demand for properties under $100,000. But those buyers have a hard time to get in now, hardly finding anything just decent.

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Comments (0) Apr 21 2012

Cape Coral is the highest rising home prices

Posted: under Real Estate.
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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

Decrease of the number of foreclosure in Lee County

Posted: under Investments.
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As you may know, I check the foreclosures on a daily basis. I do that for all my client looking for the best deal possible. They can get into my Cape Coral foreclosure list by filling the form that you can find here.

Few months ago, I’ll say something like last fall, we had 1,000+ foreclosures in our MLS for the whole Lee County, that include Cape Coral foreclosures, Fort Myers Foreclosures and Lehigh Acres Foreclosures.
And since a couple of weeks, that number had a steady decrease to reach 660 today.

That number is very important for me and I explain that to my clients, investors or first time home buyers.
Not only, obviously, that means there are less foreclosures out there, but also, the non-distress market will take over sooner. Consequently, prices are going up. It shows even with the foreclosures themselves. Banks now see more multiple offers on their listings and adjust pricing. They see an increase of the demand.

We also experience an employment rate having an upward trend and the 60 days and the 90 days delinquency rates are both decreasing, that’s always a sign of a foreclosure rate decline.
So hurry. Not only I was showing a proof that this is the best time to purchase a property in Lee County in history, but prices are increasing little by little. So if you are looking to get a great deal, call me today and I’ll send you the available foreclosures in Lee County.

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Comments (0) Feb 11 2011

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