Cape Coral, FL. (real estate, vacation, job)

[V20]

To Firemed,

Virtually every area in the country has problems with crime. It is a problem with our culture. Areas that are saturated with wealth still have crime...but much less than impovished areas. With all the saltwater access properties in Cape Coral and the massive population growth it will someday be an exceedingly wealthy area. There is no doubt that this will occur. The only question is how soon will it occur.

[firemed]

Originally Posted by V20

To Firemed,

Virtually every area in the country has problems with crime. It is a problem with our culture. Areas that are saturated with wealth still have crime...but much less than impovished areas. With all the saltwater access properties in Cape Coral and the massive population growth it will someday be an exceedingly wealthy area. There is no doubt that this will occur. The only question is how soon will it occur.

You might be right, But I dont think Cape Coral has much wealth. Its middle class at best. But what do you think is wealth? Cape Coral lacks a lot of things, first of all it doesn't have a beach. It has a manmade beach on the Caloosahatchie river. There are no seaports in the area. Gulf access is extremely hard and time consuming due to the Manatee zones and bridges. The whole area is filled swamp, where do you think the canals came from? Cape Coral is a bedroom community to nothing. No major corporate or industry. Most of the wealth and jobs created were built around construction and related industry. Now that construction is slowing tremendously nationwide, what is the population of Cape Coral going to do for jobs? Wealthy people like to live in the presence of other wealthy people. Cape Coral would have to redevelope 85% of it's areas to succeed as a place the wealthy will flock to. Yes there will still be money to be made there, but there's a fine line between reality and doom and gloom. If your right you may become one of the extremely wealthy. But if your wrong you'll just be another penniless dreamer. Remember money is the difference between eccentric and just plain crazy!

[NYBill]

I am missing something, but what is Tarpon Pointe, Cape Harbour or better yet take ride down Bimini Canal and see some of the new houses that are being put up.

The city is trying to buy up more property by the Yacht Club which is going to go under a major renovation. They just bulldozed 2 homes on Dolphin Drive next to the boat ramp and have plans to to try and buy the entire block.

Even if you go to the entrance of C/C on Delprado they have new gated communties going up all over the place. They may not be million dollar homes but they are very nice.

[V20]

Originally Posted by firemed

You might be right, But I dont think Cape Coral has much wealth. Its middle class at best. But what do you think is wealth? Cape Coral lacks a lot of things, first of all it doesn't have a beach. It has a manmade beach on the Caloosahatchie river. There are no seaports in the area. Gulf access is extremely hard and time consuming due to the Manatee zones and bridges. The whole area is filled swamp, where do you think the canals came from? Cape Coral is a bedroom community to nothing. No major corporate or industry. Most of the wealth and jobs created were built around construction and related industry. Now that construction is slowing tremendously nationwide, what is the population of Cape Coral going to do for jobs? Wealthy people like to live in the presence of other wealthy people. Cape Coral would have to redevelope 85% of it's areas to succeed as a place the wealthy will flock to. Yes there will still be money to be made there, but there's a fine line between reality and doom and gloom. If your right you may become one of the extremely wealthy. But if your wrong you'll just be another penniless dreamer. Remember money is the difference between eccentric and just plain crazy!

Only time will tell if I am right or wrong. I believe that real estate investing is somewhat like gambling only one tries to infuse logic. In virtually every other area in the country, saltwater access properties are very expensive. Currently in Cape Coral saltwater access properties are very inexpensive.

The main reason for this, I believe, is supply and demand. As truly desirable as they are, there are still more saltwater properties in Cape Coral than are currently needed. However, there are 11,000 people per year moving to Cape Coral. The city's website indicates that there will be over 300,000 people in the city by 2015 - nine years away. There are now 163,000. Nine times 11,000 would only bring us to 262,000. Therefore the city clearly expects the 11,000 per year rate to increase substantially.

When I first discovered Cape Coral just over five years ago, I noticed that there were many available gulf access lots in most of the southwest section of the city. Most of these have since been built on. The majority of available gulf access lots in the southwest are in the least desirable areas (northern half of Unit 70, Units 71 and 96 - I say undesirable only due to their long travel times out to open water). In only a few more years, there will be virtually no available gulf access lots in the southwest other than a few holdouts. That will funnel all those who want to build into the northwest. More people competing for increasing less properties.

Logically that indicates to me that gulf access properties in Cape Coral are going to skyrocket in value in the not too distant future.

[firemed]

Originally Posted by V20

Only time will tell if I am right or wrong. I believe that real estate investing is somewhat like gambling only one tries to infuse logic. In virtually every other area in the country, saltwater access properties are very expensive. Currently in Cape Coral saltwater access properties are very inexpensive.

The main reason for this, I believe, is supply and demand. As truly desirable as they are, there are still more saltwater properties in Cape Coral than are currently needed. However, there are 11,000 people per year moving to Cape Coral. The city's website indicates that there will be over 300,000 people in the city by 2015 - nine years away. There are now 163,000. Nine times 11,000 would only bring us to 262,000. Therefore the city clearly expects the 11,000 per year rate to increase substantially.

When I first discovered Cape Coral just over five years ago, I noticed that there were many available gulf access lots in most of the southwest section of the city. Most of these have since been built on. The majority of available gulf access lots in the southwest are in the least desirable areas (northern half of Unit 70, Units 71 and 96 - I say undesirable only due to their long travel times out to open water). In only a few more years, there will be virtually no available gulf access lots in the southwest other than a few holdouts. That will funnel all those who want to build into the northwest. More people competing for increasing less properties.

Logically that indicates to me that gulf access properties in Cape Coral are going to skyrocket in value in the not too distant future.

There are alot of areas to get gulf access properties around but not in the cape coral city limits. I would not bank on the City. The infrastructure is way behind the growth and the city is in way over there heads. Land deal acusations against city council members is a red flag, Logically the past five years of growth was built around speculation of more growth. But was the last five years built around the fundamentals of economics?

[Floridamex]

Originally Posted by firemed

There are alot of areas to get gulf access properties around but not in the cape coral city limits. I would not bank on the City. The infrastructure is way behind the growth and the city is in way over there heads. Land deal acusations against city council members is a red flag, Logically the past five years of growth was built around speculation of more growth. But was the last five years built around the fundamentals of economics?

Florida has fundamentals? Florida has alot of fools but no fundamentals. as long as the New Yorkers keep thinking its a deal why use fundamentals. Cape Coral is a sitting duck for a storm. look at the storm surge maps. cat-2 storm surge will flood 70% of the city.

[firemed]

Originally Posted by Hooper

Floridamex and Firemed-

Wow, you guys are some negative. I believe that you two are the sort of people that would find the worst in everything. I have been to Cape Coral. I have vacationed there, owned a home there, invested and done very well. I believe that the best days are ahead for the city. Will it all be perfect? Obviously not, as many have written here already, there will be growing pains. But when you look nationwide, the Cape has a lot going for it. Weather for one, that will ALWAYS be a draw, people will always want that. Second, the ability to boat from your backyard! Slips here where I am from are $240 a foot and climbing!!! So, I buy a home, I get a slip, and my home has the potential to appreciate to ridiculous highs as well???? Where is the downside?

NYBill, you're in the same "boat" as I am, from the NE. I don't think some people realize what this stuff is....

All for now, Hooper.

I'm not negative, just realistic. Iv'e been in Florida all my life and as long as I can remember Cape Coral was struggling with sales until recently. Have you ever heard the term " Your statement has no foundation"? Well I can tell you from experience your investments have no foundation. ( literally ) Cape Coral is filled muck! Why do you think there are so many canals? Thats where the dirt came from. As far as your recent investments if you couldn't make money in the past two years you did something very wrong. I can't speak for the other guy, but most natives are well aware of the history of Cape Coral. I don't know anything about the northeast, but I do know a lot about Florida. So if you want to believe it's a great investment it may turn out to be. But in my opinion the money that was to be made already has been.

[NYBill]

I love listening to the natives experience

As far as boat slips go for my wet slip and hauling for the winter was at least 5K a year and just bill I had to deal with.

Now being on a 100X125 piece of property I keep both boats on lifts in my backyard. I pay more in taxes for my property but considering that 5k is now incorporated in my taxes and now a write off rather then jsut a bill. No Brainer!!

I was paying about 4400 a year in NY for a 1200 sgaue foot home, plus the boat bill of 5 K

Taxes are now homesteaded here at 7300 for everything on the same lot I mentioned with a 2400 square foot home, 1600 sgaure foot cage with an oversized pool and hot tub

Insurance legislation is in the works now and will come to a decent price within a year or so.

Next step is to do the homestead act over and increase the deduction or better yet have all the people reassessed. Think about it! You have someone who has the same size home as me been here 20 or so years an only pays maybe a 1000 a year in taxes for the same services I pay 7K a year for. Sounds like discrimination and bias to me. My letters have already been sent and we be resent to the new slate of people in public office.

The thing that amazes me about the natives is that they where used to things being staus quo, never questioned local government, just went along with the good old boys.

Now with an influx of people coming in and average age of 39 things are being questioned and the voters want to see results and believe me the local politicians don't like it one bit. Just look at the last election results.

Things do get better if your interested, as Cape Coral will, not that it's bad now but there is always room for improvement.

[firemed]

The Rosen brothers purchased the property, platted the community and created more than 400 miles of canals to get the fill to build homes. If you think you got a great deal thats all you need. But muck is swamp and when the area gets a storm surge the seawalls won't hold the fill dirt in place. Donna did a job on Cape Coral and if you like I can post the pictures.

[NYBill]

I was living in NY for Donna and living on the water also. Lashing down the picnic table to tree in the yard so it didn't float away, true story.

I'd like to see some of those pictures, although I have my own from Charlie when it hit here.

I also saw a few video's and how people first bought property here, dropping bags of flour I think from a fly over to mark there property.
I actually thought it was kind of unique.

But then again and that was then. They would of never got away with such a deveplopment today with all the government agencies now a days.