Coral Lakes Sell Off, Cape Coral Florida

Real Estate Agent with Looking For a Real Estate Value in Cape Coral or Fort Myers? 3043061

Coral Lakes Sell Off, Cape Coral Florida

Where are the buyers? There here and there is no shortage of them. At the Gated community of Coral Lakes (Cape Coral, Florida) more than 100 people lined up seeking rock-bottom prices advertised in the local Lee County paper. Time to buy? I guess the message is clear.

116 homes in Coral Lake where available starting Wednesday, March 19th. Prices are for single-family homes at $133,000 and townhouses at $86,000. This is a wonderful a investment. By Friday after noon many were under contract.

How is this buying opportunity possible? Real-estate investor O.J. Buigas bought the 116 homes - 82 houses and 34 townhouses - from Miami-based Tousa homes Florida LP, parent company of Engle Homes. Engle filed for bankruptcy in January.

Who is really buying? According to one of my clients, the situation is totally chaotic. She was there for three hours. No one was there to give here actual information about the units or about Cape Coral. My client was told she has to own the property 2 years before filing for homestead. She knows better than that and decided not to buy under this kind of stress.

Another client of mine told me that investors were buying multi units. This leads to the "buy and hold" strategies that result in a community of renters. At least there is a 1 year minimum rental period. An area with a high percentage of renters is a bad investment for the end user or home buyer.

So why the buying frenzy? These single-family homes at $133,000 and townhouses at $86,000 do sound like a great price. But this is far from the only good deals in the Cape Coral, Fort Myers, Lehigh Acres area. If you're looking to buy, now is the time. I you'd like to purchase home at a good price, you can call a licensed Realtor (like me). We are knowledgeable about all available homes. There are many a homes now on the market at a similar price range.

There's an amazing selection of Cape Coral Waterfront, Gulf Access, Direct access, Sailboat Access Cape Coral Land & Lots, Foreclosure, Foreclosure Listings, Home Foreclosures, Property Foreclosures, pre-foreclosures, bankruptcy homes, real estate foreclosure, bank foreclosures, bank owned, REO, HUD, VA, FHA at fantastic prices available.

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engle homes
gated community coral
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tousa homes florida lp

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Barbara Klare

Broker Associate, Jones & Co Realty
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