While we are still seeing a decline in most residential markets here locally we are seeing more and more commercial developments. Cape Coral has been behind in commercial growth for years. Slowly, we now have about 8% commercial. A recent article in the news-press examines this. Many of my clients & prospective clients have been worried about the current market conditions. They call & e-mail me to see what I think they should do in this current market. One aspect that always seems to come up is the commercial growth. With over 150K residents in Cape Coral & with so much vacant property ready for newcomers, businesses see opportunity here & are capitalizing on it. Many small businesses have opened along the Pine Island Corridor, restaurants & strip centers as well. Along the Santa Barbara/Veterans intersection the same thing - a new Home Depot just opened & a new Lowes is being built right next to our fairly new Target/Publix shopping center. For years, residents of Cape Coral drove to nearby Ft. Myers (across the Caloosahatchee River) for shopping, dinner & other needs - now they are able to stay in their own town. It's a great convenience - time & money saver. You can read about a few of the developments in this recent news-press http://www.news-press.com/apps/pbcs.dll/article?AID=/20060905/NEWS0101/609050323/1008/ACC article. From this commercial growth we'll see the residential side start to stabilize & then turn around to appreciate again. While I do not believe we will see appreciation rates in the 20-30-50+ ranges anytime soon again, I do think we'll see 5-10% a year after we stabilize. It's still a great time to buy - especially since I believe it will turn around quickly & leave many would-be buyers on the sidelines too late to have gotten a great opportunity. We are not however, in a market for quick-flips (unless you find a pre-construction or rehab opportunity). Now, buyers & investors need to look more at the long term picture & have a plan in place. Contact me if you have any questions. I can help you decifer what is the best plan for you personally.
This entry hasn't been re-blogged:
Re-Blogged By Re-Blogged At
Find what you need?
See More Blog PostsAbout Real Estate! SEE MORE NOW!