IS THE CAPE CORAL HOUSING MARKET REBOUNDING?
Cape Coral, Florida, March 2, 2012 Just a few years ago, Cape Coral suffered one of the highest foreclosure rates in the country. However, the city is now proving to be on a fast moving upswing. Cape Coral RealtorÂ®, AJ Ackerman & Associates of Century 21 Sunbelt Realty, announced that recent trends in the Cape Coral housing market are indicating growth and revitalization for the city.
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.