Waterfront Lot in Section 45

Asked by Psalemme, Marco Island, FL Tue Aug 11, 2009

Any current market for a waterfront lot in Section 45? Paid $158k in 2004 in an all cash deal and willing to take half of that now.

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Mark Washburn’s answer
Mark Washburn, Agent, Cape Coral, FL
Tue Aug 11, 2009
The market for vacant land in Cape Coral is at best flat right now. Not much inventory is moving as very few new homes are being built. I expect this to continue for at least a couple of more years as we work through the backlog of distressed homes in Cape Coral.

Unit 45 in Cape Coral is a bit unique as it has both freshwater and gulf access canals. The values in the low $20s referenced below by Kim appear to be freshwater lots. Gulf access lots in unit 45 are worth more, but there have been no sales of gulf access of lots in unit 45 the last 12 months so it is a bit challenging to provide a valuation without more details.

For what its worth, I have pulled all the vacant lots that I own in Cape Coral off the market and am holding for a better market.

Good luck with your decision.
0 votes
Tim Bishop, , Cape Coral, FL
Tue Aug 11, 2009
Lots aren't moving that well right now in general but gulf access lots are doing better than off-water sites. Especially if they are on the more affordable end of the spectrum. Please feel free to give me a call or shoot me an email. I'd be happy to send you a detailed CMA of your site.

Take Care,

Tim Bishop
Century 21 Sunbelt Realty
0 votes
Kimberly Lang, Agent, Bonita Springs, FL
Tue Aug 11, 2009
To get the lot sold quickly you will want to know what other losts have recently sold for, went pending at and what are the best value current listings. Below are some figures for you to view. For further, more in depth data. please feel free to call me.

Property Type Lot/Land/Boat Dock Include Property Subtype Residential Lot GEO Area CC23 -) , Sold Waterfront LOT/LAND/BOAT DOCK
ACTIVE Properties
High 21,900
Low 21,900
Median 21,900

PENDING Properties

High 25,000
Low 25,000
Median 25,000

SOLD Properties

High 29,500
Low 12,900
Median 21,200

Presented By: Kimberly R Lang / Keller Williams Elite Realty Phone: 239-677-8773
Information has not been verified, is not guaranteed, and is subject to change.
Copyright ©2009 Rapattoni Corporation. All rights reserved.

Kimberly R. Lang

The Kimberly Lang Team
Keller Williams Elite Realty
24851 S Tamiami Trail Suite 1
Bonita Springs, FL 34134
When you think of Real Estate, Call The Red Realtor
239-677-8773 Kimberly
239-677-8780 David
239-949-8339 fax
239-949-8338 office
0 votes
Terry McCarl…, Agent, Cape Coral, FL
Tue Aug 11, 2009
Depends on various factors...I would need the address to better answer your question. Email me the address and I will be able to better assist you.

Terry McCarley / Remax Realty Team
email: leecountyrealtor@earthlink.net
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