Cape Coral & Fort Myers Real Estate Market Continues to Change

By
Real Estate Agent with Florida Future Realty, Inc. BK3071625

 

As the Real Estate Market continues to change so do we!


The short of the story is that the buyers market is STRONG here. We are finding real estate deals for our customers that are close to amazing. I am now seeing prices back down to 2003-2004 values.


This is awesome news for:

  • Investors
  • First Time Homebuyers/Current Renters
  • Retirees
  • Those relocating to SW Florida
  • Ok, let's just say ALL Buyers!

We just created a new website to list pre foreclosures/short sales & rehabs in the area. We will send new properties out via email for all who join.

www.The-Extreme-Team.com

Buy NOW, the time is right. Sellers are negotiable (finally), prices are down, and we're in our 'off season'. It doesn't make any more sense than this.

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Location:
Florida Lee County Cape Coral
Tags:
naples
buyers market
lehigh acres
pre foreclosures
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n ft myers
theextremeteamcom

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Anonymous
waiting patiently

Why should I buy now when I can wait.

If I buy property x for 350k now, it will have a high probability it will be worth less than the purchased price in a year.

You say you are seeing prices at 2003-04 now but how long until you are seeing prices at 2002-03 or 2001-2 values. There is no magic roadblock to stop the downward pressure on prices, other than less inventory and we all know where that currently stands.

When the price to rent ratio gets back to the low 120's (2000-01) is when I will start looking for investment properties.

Until then, I'm waiting.

Jun 07, 2007 04:06 AM #1
Rainmaker
190,428
Susan Milner
Florida Future Realty, Inc. - Cape Coral, FL
Cape Coral Real Estate Broker, FloridaFutureAgents

Hi 'waiting patiently',

I like what you have to say & that COULD happen but, sellers are finally realizing that we are not rebounding yet & those that need to sell are more negotiable than ever.

I would rather be a buyer in this market, and offer a price from '02 & hope they take it vs waiting for a year or two and either having 1) the prices back up or 2) sellers expecting them to turn & not as negotiable anymore.

Bottom line, if you need to buy, its an excellent time to be a buyer. You can wait a while to find exactly what suits you (maybe the house you really like won't be for sale next year) in today's market.

Investing is & always has been a RISK. Buying in ANY market could lose you money. Having a plan for what you are looking for & being ready to make offers, negotiate & find what fits your business plan is the key.

Jun 07, 2007 05:59 AM #2
Rainmaker
160,675
Jay LaGace
RE/MAX Realty Team - Cape Coral, FL
Cape Coral / Lee County Real Estate - 239-443-8795
You also have to think about Interest Rates... They shot up pretty good today. What will they be at in a Year??? Only time will tell. I do also think its a Great Time to buy..
Jun 07, 2007 09:35 AM #3
Anonymous
waiting patiently

Jay,

You are correct about rates going up, but I can always refinance a new rate BUT I can never renegotiate a sale price.

Susan,

You are so right about needing to have a plan and stick to it.  Unfortunately many buyers in your area did not stick to a plan and panicked into buying. Now the RE market is unwinding and it's showing up in foreclosures and short sales. If the RE market does not hit my targets to buy then I will move onto other investment opportunities, there are other investment opportunities besides RE.

My family was in RE and construction during the boom/bust days in the 70's and 80's.  I know all too well how these markets play out and when it's safe to go back in the water.

Good luck on moving the market forward through these tough times and I hope you can be an agent that helps bring some sanity back to the Lee County markets.

Jun 07, 2007 11:35 PM #4
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