Miloff Aubuchon Realty Group Inc.
Jones and Co Realty
A number of factors will play in this response. First, housing prices in the area went down 66% for their peak while, on average, the drop nationwide was 33%.There is a lot of room to recover, even if prices only come back to national averages.
Yes the market was over inflated but unlike much of the rest of the country, SW Florida has always been a destination. People come here for vacation, for retirement, and for building a life where the sun shines almost every day of the year! Waterfront property will always have the highest demand. Cape Coral has more canals than any other city in the world. 400 miles to be exact, plus 36 miles of riverfront property. 222 miles of those canals have access the Gulf of Mexico.
So to answer your question, Cape Coral will have high appeal, especially waterfront property, and should see rapid appreciation when compared to other markets. You can still by a waterfront home in the more desirable areas of the Cape for under $300,000, but they are disappearing rapidly. Don't delay the decision, the market has bottomed out here and is already on a steady pace back up according to the recent reports.
Because Cape Coral covers 120 square miles there are areas that are more desirable than others. To avoid making the wrong decision on where to buy, consult a real estate professional locally that has knowledge of the local market and can help you make the best decision.
Dockside Property, Inc
First and foremost, none of us have a crystal ball or can see into the future. With the uncertainty of new foreclosures, election year, and uncertainty of international markets, it is difficult to 100% say just yet.
I believe that if we stay stabilized or rise in prices over the summer, you will most likely never see these prices again.
In my opinion, Cape Coral Fl is a very special city! Considering we are one of the few towns that prices fell the farthest. I believe we are making a come back. Prices dropped around 59% from the height. We are seeing a large decline in our foreclosure inventory, as well as, an increase in home prices of around 10% in the last 6 months. I have some buyers, who purchased in the last 2 years, that are seeing a 20% increase in equity in some cases. WOOHOO!
My Reasons to believe in Cape Coral Real Estate appreciating:
-Foreclosure and short sale inventory is and will continue to decrease
-Consumer Confidence is growing!
-United States is recovering ( Up and Down Cycles are a natural occurence, we are heading for a rebound in the housing market! )
-Banks will be aloud to loosen up mortgage requirements a little
-More Jobs available for people
-New construction is up and will continue
-Warm and Sunshine most of the year
-over 400 miles of canals
-Rising interest from 2nd home owners in Canada, Europe, Australia, and Northern States to buy now before the prices get too high
-City water expansion throughout the whole city!
-new VA hospital in NE Cape being built
-Continued growth of Cape Coral government to better the city
-more new business opening up and attention from large corporations buying up commercial property
Check out my ebook "12 Reasons to retire in Cape Coral, Fl." for more at my website.
Ackerman, as part of the Randy Peska and Partners team, has worked tirelessly in his efforts to push through the down economy for his clients, and keep the real estate in Cape Coral moving. Ackermanâ€™s reputation precedes him, so when he announced that the Cape Coral housing market is back, clients and investors took notice. His market assessments suggest that the health of the community is rebounding in residential home and investment properties sales.
This upswing has also been noted by sources such as the Houston Chronicle. The publication recently reported that, â€œIn November 2011 the median price of a home in Lee County, which includes Cape Coral, was $106,300, up 20 percent from $88,500 the previous year. More important, the price is far less than the national median of $170,000. Indeed, with the notable exception of cities like Detroit, you could sell your home almost anywhere in the country, move to Cape Coral and pocket some money.â€
Unlike Detroit, however, Cape Coral offers the lure of a beautiful tropical paradise. Located in Southwest Florida, the Cape boasts an abundance of year-round sunshine, golf, close proximity to the Gulf of Mexico beaches, fishing, and a plethora of waterfront properties. In fact, Cape Coral has over 400 miles of waterways and canals, making it a haven for boating enthusiasts.
Although Cape Coral offers the luxury of coastal South Florida living, the homes are still selling at very affordable prices, by the standards of most real estate throughout the country. According to a 2011 CNN report the Cape Coral community is #2 on the list of best places to retire in the country. This is not surprising, considering the city offers both the lure of the Florida lifestyle, combined with affordable homes and low taxes. It has become a top destination for retirees, as well as those looking for a nice place to raise a family.
However, Cape Coral is not only being noticed by northerners in the U.S. looking to migrate South. It is also popping up on the radar of people from around the world. Investment dollars from European buyers, land developers, retirees and first time home buyers are coming into â€œThe Capeâ€.
â€œWith real estate prices coming up, trade businesses hiring on, and a drastic increase in applications for Cape Coral New Construction permits, it is clear that Cape Coral is coming out of the recession,â€ said AJ Ackerman. â€œOur team has consistently worked within this community for years, and we are absolutely confident that Cape Coral is going to have a great year!â€
Florida Realtors agree with Ackermanâ€™s projection, which is supported in an article posted on Floridarealtors.org. In this article, Florida RealtorsÂ® Chief Economist Dr. John Tuccillo at the state associationâ€™s 2012 Real Estate and Economic Forecast Conference in Orlando said, â€œSales are trending up, listing inventories are falling, the supply of lender-related properties has stabilized, and we are seeing multiple offers on homes in some local marketsâ€¦a buyer who plans to own (a Florida) home for five to seven years can get some great bargains today.â€
This trending was also reported on the popular online residential real estate site, Trulia.com. The site reported a quarterly increase of 5% or $5,000, on the average median home selling for $105,000 in Cape Coral Florida, for the period of November 2011 to January 2012. Compared to the prior year, this represents a 17.7% increase.
Ackerman added, â€œAll indicators are pointing to a rebounding market. This, combined with housing and development costs as affordable as they are, is causing investors to take a serious look at Cape Coral real estate. Our team is positioned to help buyers take advantage of this rebounding market, and find the property that is right for them.â€
For more information about Cape Coral real estate, visit Ackermanswfl.com or call 239-565-7867.
ABOUT ACKERMAN & ASSOCIATES:
AJ Ackerman of Ackerman & Associates is a Century 21 RealtorÂ®who specializes in the Cape Coral housing market, Bonita Springs vacation homes, Cape Coral sailboat access homes, and retirement homes. He is proud to be a part of the Randy Peska & Partners Team at Century 21 Sunbelt. For a free Cape Coral map, or for more information call (239) 565-7867 or contact Ackerman & Associates online.
Contact A.J., The Real Estate Professional, today! Or call 239-565-7867.
Serving Southwest Florida: Bonita Springs, Cape Coral, Captiva, Fort Myers, North Fort Myers, Sanibel.
Sarah Garrett, Realtor
ALLIANCE REALTY GROUP
"Chosen Best in Client Satisfaction 2006-2011" by Gulfshore Life Magazine
Access to MLS:
This is the most beautiful part of the state of Florida -- everyone wants to be here -- Europeans, Canadians, and most people who live anywhere in the United States.
Cape Coral is always a hot destination for many Europeans, Canadians and Northerners. That also helps keep our market moving year round.