Cape Coral is definitely heating up, not only temperature and humidity wise, but also when it comes to real estate! As I have told you in previous posts, the real estate market has been busy for the last few months, with most sales being in the lower spectrum. Starter homes anywhere from 80,000 to 150,000 were moving at a great rate! Recently we have seen an influx of buyers for the for higher priced homes, especially Gulf access homes. Homes that a few years ago were selling for $500,000 and $600,000 are now being listed through short sales and foreclosures for less than $350,000!
I saw a home this week 2100 square feet of living area, three bedroom two bath, with a pool on the Gulf access canal in the southwest section of the Cape, that was listed for 275,900! It was a bank foreclosure from Countrywide, and needless to say, in less than two days on the market, it reportedly had 12 offers in place already! When all is said and done, I am sure this home will sell somewhere around $340,000! Now that's a deal!
So if you were in Cape Coral within the last three years, and you thought you were priced out of waterfront property, think again! You can purchase a Gulf access home in Cape Coral for what you would have had to pay for a lot three years ago! Now you still get a lot for the same price- and the house and the pool come free!
Is exciting to me as a real estate broker to see the flurry of activity that we are experiencing in our marketplace! Not only for what it means for our Realtors, but also when people realize that they can have their dream home! YES values have dropped, but one thing that I know for sure, they will rise again! Real Estate always rebounds!
So, if it is waterfront property you are looking for Cape Coral is the place! Check it out and find out why they call Cape Coral, "Paradise!"
Have a great day!
Mike Kelly, Broker/Owner,Sellstate Advantage Realty, Cape Coral, Florida, 239-549-9200