Southwest Florida Real Estate has been through a lot in the last five years.We have seen the highs of 2004-2005 with appreciation jumping a mindboggling 47% during these two years to the lows when the bubble burst in 2007. During the following years I have seen hard working Americans loosing their homes, either because they were misinformed, lied to or plainly not qualified. Others got in as fast as they got out and laughed all the way to the bank. Since then the market has been turned upside down in Southwest Florida. The deals are here for sure in Cape Coral and Fort Myers & Fort Myers Beach. Even in Sanibel, Bonita Springs and Naples. The equity in most homes in Lee County and Collier County are gone but on the bright side I am happy that homes are affordable again for many Americans in Southwest Florida.
I am glad that an American family has a decent chance to own a home in Southwest Florida. Yes, our homes were greatly overpriced. It was becoming ridiculous.
Today a buyer can purchase a decent home for under $100,000 ( gulf access home for under $230,000 in Cape Coral for ex.) in Southwest Florida and live in paradise without the nasty mortgage.
They will again see some equity in their home but I rather see a steady rise in home value year after year then a monster appreciation jump like in 2004-2005.It is a great time to buy and it is also our responsibility as Florida Real Estate Agents to make the difference between a healthy return from outlandish greed. Did we learn something from these years ? It was heating up to fast. Lets not go crazy again. There is nothing wrong about wanting to become rich but Florida should be affordable for everyone. Cape Coral Real Estate or Fort Myers & The Beach Real Estate among other areas make sense for buyers.
and Happy Hunting!
LLoyd Nichols
Right Choice Realty LLC
cell: 239-810-2980
office: 239-463-5217
Activerain Local Blog: http://localism.com/neighbor/lloydn
;)
;)
LLoyd, I like your comment about responsibility, however I think that should be applied to ALL agents, lenders, etc. Anyone involved in the real estate business needs to be responsible and honest for the industry to gain any credibility.