[NY62]

Hi I am back. I want to know if anybody has any info on the sandoval community in sw cape coral? I was there in the summer and fell in love with it. also any info on the ida baker high school and trafalger middle school would be helpfull. has anyone gone to or had kids that went to gulf coast university? how is it? Thanks for any input in advance. now is the time to buy IMHO. also any idea of electric bills per month and car ins ? water ? anything else . trying to get ducks in a row.

[Cougar31]

when was last time you visited this area?
things have changed drastically...some for the better and other for the worse!

[NY62]

last June what has changed since then?

[Cougar31]

Originally Posted by NY62

last June what has changed since then?

You may get a better real estate deal...but check with an Insurance agency before purchasing a home. It doesn't hurt to get a quote!
Also, get a police report on the potential area you are interested in.
Good luck.

[CJFlorida]

Originally Posted by NY62

Hi I am back. I want to know if anybody has any info on the sandoval community in sw cape coral? I was there in the summer and fell in love with it. also any info on the ida baker high school and trafalger middle school would be helpfull. has anyone gone to or had kids that went to gulf coast university? how is it? Thanks for any input in advance. now is the time to buy IMHO. also any idea of electric bills per month and car ins ? water ? anything else . trying to get ducks in a row.

Now is the time to buy? In Cape Coral? I hope this was meant as a joke. Prices in that area will do nothing but fall for years. There are almost 7000 single family homes for sale in that area, not including all the for sale by owners.

[whippersnapper]

Ida Baker is a pretty good high school. Joe Vetter is the principal and he's such a wonderful guy. Trafalgar Middle is also a good one. A friend of mine teaches there and he loves it. I used to babysit a kid that went there and he liked it (as much as any grumpy almost teenager likes school).

I graduated from Florida Gulf Coast University last May. Do you have any specific questions about the school? What majors are being considered?

My bills (for a 3/2 home) ran (electric) 90-120 winter, 150-200 summer, (water) 60-70. No pool, three adults.

[NY62]

Originally Posted by whippersnapper

Ida Baker is a pretty good high school. Joe Vetter is the principal and he's such a wonderful guy. Trafalgar Middle is also a good one. A friend of mine teaches there and he loves it. I used to babysit a kid that went there and he liked it (as much as any grumpy almost teenager likes school).

I graduated from Florida Gulf Coast University last May. Do you have any specific questions about the school? What majors are being considered?

My bills (for a 3/2 home) ran (electric) 90-120 winter, 150-200 summer, (water) 60-70. No pool, three adults.

thank you for your response, it was very helpfull. My son will be studying criminal justice. He wants to be a cop, he is up in the air over coming with us or staying on long island.

[NY62]

Originally Posted by CJFlorida

Now is the time to buy? In Cape Coral? I hope this was meant as a joke. Prices in that area will do nothing but fall for years. There are almost 7000 single family homes for sale in that area, not including all the for sale by owners.

no disrespect but how far do you think they will fall? I have seen 80 gs for a 3\2 , some chevy suvs almost cost that. you can get quite the home for under 200 k . I hope you are not sitting waiting for 20 k houses. You have a lot of homes for sale for sure. people will start to buy 150 k mortgage p\i is under a grand with the intrest rates we have now. if you wait to long houses will start to appreciate again at a normal rate. I have been following houses in different parts of the country and I can tell you 200k and under is a good buy. it is 2008 not 1980 the price of everything is up, cars will never come down and people plunk down 50 gs on a chevy tahoe that will be worth 20 in two years, but they have a problem spending 150 on a house that in 20 years will be double, the car will be long gone but the house will be there. think about it how far do you expect them to fall? some desirable areas are at the bottom they are selling, when those homes run out the prices will start to go up. I go to the city report manager web site it tells all homes that sell each month and I can tell you homes are selling in cape coral and not as cheap as you would think.

[CJFlorida]

Originally Posted by NY62

no disrespect but how far do you think they will fall? I have seen 80 gs for a 3\2 , some chevy suvs almost cost that. you can get quite the home for under 200 k . I hope you are not sitting waiting for 20 k houses. You have a lot of homes for sale for sure. people will start to buy 150 k mortgage p\i is under a grand with the intrest rates we have now. if you wait to long houses will start to appreciate again at a normal rate. I have been following houses in different parts of the country and I can tell you 200k and under is a good buy. it is 2008 not 1980 the price of everything is up, cars will never come down and people plunk down 50 gs on a chevy tahoe that will be worth 20 in two years, but they have a problem spending 150 on a house that in 20 years will be double, the car will be long gone but the house will be there. think about it how far do you expect them to fall? some desirable areas are at the bottom they are selling, when those homes run out the prices will start to go up. I go to the city report manager web site it tells all homes that sell each month and I can tell you homes are selling in cape coral and not as cheap as you would think.

Ignore those stats of sale prices. Incentives and give backs have increased dramatically and do not show up in those numbers. And every bubble in history shows people who buy halfway down, a third down, two thirds down to the bottom, so of course some houses are selling....that does not mean there is not a ways to go. The road to the bottom will have a few up blips.

None of those car analogies make any sense. A housing market only depends on wages minus expenses. Since real wages have actually dropped since 2000 and expenses such as insurance, gas and food have increased, people have less to put towards housing. Thus prices have to drop.

How far will they eventually fall? Easy, when they match 2.5-3 times income and 110-140 times annual rent. Where a house falls into that 110-140 range will depend on how desirable the house is to a broader number of buyers.

Is now the time to buy?....if you can find a house that sells for 110-140 times what a similar house would rent for then yes. If one does their homework and only offers 110-140 times comparable rent, they will be fine.

But the majority of the houses have a ways to fall yet.

Please post a link to those 3/2s for $80000...then posters can evaluate the area that they are in. Also provide a link to what you consider "quite a house for under $200,000".

From what I can see houses that are listing for $150,000 to $200,000 are renting for $700-$1000/month. This shows me they have a long, long way to fall to make sense.

I just saw one on realtor dot com that is listing for $150,000...a nice little new 3/2. The problem is it is also for rent for $700. I bet the owner would take $600 or so. That is a rent multiple of over 200, one would be crazy to buy at that multiple in Cape Coral....that house has to fall a ton to make any sort of financial sense to buy. In fact if you can rent it for $600, you should be able to buy it for $65,000-$85000.

So if you are seeing brand new 3/2s in decent areas for $80,000, then things are returning to normal. But I can not find any brand new 3/2s in Cape Coral for $80,000....yet....but there will be eventually.

[NY62]

Originally Posted by CJFlorida

Ignore those stats of sale prices. Incentives and give backs have increased dramatically and do not show up in those numbers. And every bubble in history shows people who buy halfway down, a third down, two thirds down to the bottom, so of course some houses are selling....that does not mean there is not a ways to go. The road to the bottom will have a few up blips.

None of those car analogies make any sense. A housing market only depends on wages minus expenses. Since real wages have actually dropped since 2000 and expenses such as insurance, gas and food have increased, people have less to put towards housing. Thus prices have to drop.

How far will they eventually fall? Easy, when they match 2.5-3 times income and 110-140 times annual rent. Where a house falls into that 110-140 range will depend on how desirable the house is to a broader number of buyers.

Is now the time to buy?....if you can find a house that sells for 110-140 times what a similar house would rent for then yes. If one does their homework and only offers 110-140 times comparable rent, they will be fine.

But the majority of the houses have a ways to fall yet.

Please post a link to those 3/2s for $80000...then posters can evaluate the area that they are in. Also provide a link to what you consider "quite a house for under $200,000".

From what I can see houses that are listing for $150,000 to $200,000 are renting for $700-$1000/month. This shows me they have a long, long way to fall to make sense.

I just saw one on realtor dot com that is listing for $150,000...a nice little new 3/2. The problem is it is also for rent for $700. I bet the owner would take $600 or so. That is a rent multiple of over 200, one would be crazy to buy at that multiple in Cape Coral....that house has to fall a ton to make any sort of financial sense to buy. In fact if you can rent it for $600, you should be able to buy it for $65,000-$85000.

So if you are seeing brand new 3/2s in decent areas for $80,000, then things are returning to normal. But I can not find any brand new 3/2s in Cape Coral for $80,000....yet....but there will be eventually.

you are looking at buying a home like buying an investment , first off it is a home . 150 for sale 700 rent? what is wrong with that if you buy and put 20% down you finance 120 at 5.6 for 30 years your p and i is 685.69 a month. yes I know there are taxes and hoi. but that is the cost of owning. now if after 30 years even if the house never goes up( cant see that happening) you have 150 grand in equity. what do you have renting? the landlord has 150 gs you get squat. It is how you look at things. not to argue with you ,I would love to buy a nice home for 65 gs I just cant imagine that. this is all speculative none of us has the answer, it is a crap shoot, after the election who knows what will happen. If those homes do drop that low look for thousands of retireing baby boomers to flood the area and prices to creep back up. we will see ,its a gamble but if I were buying for the long haul now is not a bad time to make a deal , even if they go down a little more, if you stay for awhile, it will come back, you will not loose.