"The Bottom" In Cape Coral, Florida?

Real Estate Broker/Owner with Sellstate Advantage Realty

I hear this question daily in Cape Coral,"Have you hit bottom yet?" I guess that is the million dollar question! Well here is a little insight, today on the MLS I found a home in Cape Coral for less than $50,000! That is right- LESS THAN $50,000! Wow!! The lot that that home is on probably sold for more than $50,000 a few years ago! I heard that someone sold a lot 3 years ago for $79,000 and they recently sold the lot again for $85,000! The difference- this time the lot had a 3 bedroom, 2 bath, 2 car garage home on it!

So is it now safe to say we have hit bottom! We tried to find a corporate owned home today for under $100,000 that did not have multiple offers on it and found it next to impossible! Most all of the REO's under $100,000 are in multiple offer situations!

As I told someone today,"You never know that you are at the bottom, until you have missed it!"

Mike Kelly, Sellstate Advantage Realty, Cape Coral, Florida 239-549-9200


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Debi Ernst
St. Charles County, Missouri - Prudential Alliance Realtors - O'Fallon, MO
GRI, e-PRO, Broker/Sales Associate

Mike - It sure seems like the bottom to me!  At least, I hope it is...  :)

Oct 06, 2008 10:47 AM #1
Konnie Mac McCarthy
MacNificent Properties, LLC - Cobb Island, MD
Broker/Owner - VA & MD "Time To Get A Move On!"

Mike we are having the same thing going on up here, multiple offers on homes in certain price ranges....it's a great thing.

Oct 06, 2008 02:47 PM #2
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