Home > Blogs > Florida > Lee County > Fort Myers > Homes are affordable in Cape Coral & Fort Myers Florida

Justin Ruzicka's Blog

By Justin Ruzicka | Agent in 33913

Homes are affordable in Cape Coral & Fort Myers Florida

Wall Street Journal article: “Home Affordability Returns to Pre-Bubble Levels.”
Feb. 8, 2011

This is a great article that really ties into the January Newsletter, that we are in a “normal” real estate market now. We have seen the Huge declines year over year, we have seen the gluttony of foreclosures processed through the court systems According to the WSJ, “Many economists and housing analysts expect an additional decline of 5% to 10% before prices reach the bottom later this year or early 2012.” I would be in the belief Southwest Florida, mainly Cape Coral and Fort Myers would expect to see around 5% declines if any. The article is from a national perspective and real estate is a local game. If you look at the affordability analysis of homes prices compared to household incomes is at its lowest level of 1.9 in Lee County, which were the values nationally from 1989-2003. Compare 1.9 to the ratio in 2006, it was over 4.5!!! If we are in a normal market now, and your home is underwater, and which is 1/3 homes in Lee County, then you have a difficult decision to make. 

Buyers 2011 is the year i have been waiting for to help you find the right property. I have been telling many buyers who were looking, wait, wait, prices aren't at the bottom yet. 



By Steve Daria,  Wed Apr 20 2011, 12:39
I agree with you, Justin! The market is finally stabilizing. If buyers are looking for homes in Southwest Florida, now is the time!

Great blog!

Steve R. Daria
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer