Cape Coral/Fort Myers What a Mess! (Orlando: real estate, for sale)

[kar]

I thought you all would like to read this. As a former resident of the area it makes me very sad.

http://www.nytimes.com/reuters/world...in&oref=slogin

[topher441970]

I have been saying this for the last bunch of posts I put on here... Florida is just not getting any better, it's very discouraging to be here. I have seen so many for sale signs here with "reduced" on most of thm in Cape Coral. It's been like this for ovr a year, it's nothing new... But everyone argues as to how this is a "paradise" ya I think not... Paradise lost as it is becoming, it's not the same old Florida. Hell retirees can't afford to live here anymore, only the wealthy......

[JimKing]

This is what the housing bubble bloggers were saying would happen...except they made their predictions 3 years ago.

The main stream media is always years behind major trends.

[121804]

What is sad is that there are families trying to make it in Cape Coral & Fort Myers. There are probably people who have just recently bought there without doing a lot of homework. The area is anything but appealing. I find it sad for those who are there & have to stay there due to circumstances or may even like it there & see the crap hole the area is swiftly turning into.

I saw a report on CNN about 2 months ago stating Fort Myers as having the worst housing slump in the country.

The thing is that this mess is going to effect more than just those in SW FL.

[Tarastomsgirl]

perfect example of something people should read if they have disillusioned dreams of what florida is, white beaches, drinks in hand days in the sun.. Yah try more like that article.. thats about right

[TerryRiddle]

I know of several homes (more than 70) brand new construction and 1900 plus square feet by one builder that you can get for around $85 to $90 per square foot. I built my first house in Orlando 10 years ago for $74 and 1954 square feet. Definitely a good time to buy if you can find someone to rent. I hear time and time again in most posts here that people are choosing to rent so it would stand to reason that might be a decent investment. I can't imagine new home prices going much lower than that but who knows anymore.

Great article...thanks for the info

[firemed]

Originally Posted by TerryRiddle

I know of several homes (more than 70) brand new construction and 1900 plus square feet by one builder that you can get for around $85 to $90 per square foot. I built my first house in Orlando 10 years ago for $74 and 1954 square feet. Definitely a good time to buy if you can find someone to rent. I hear time and time again in most posts here that people are choosing to rent so it would stand to reason that might be a decent investment. I can't imagine new home prices going much lower than that but who knows anymore.

Great article...thanks for the info

The stock market is crashing, homes are crashing, jobs are lost. yeah, this is a great time to spend cash. If its such a great deal why tell everyone! you should be buying up all the so called great time to buy deals. Kool-aid anyone?

[firemed]

[quote=firemed;1288417]The stock market is crashing, homes are crashing, jobs are lost. yeah, this is a great time to rent

[JimKing]

Originally Posted by TerryRiddle

I know of several homes (more than 70) brand new construction and 1900 plus square feet by one builder that you can get for around $85 to $90 per square foot. I built my first house in Orlando 10 years ago for $74 and 1954 square feet. Definitely a good time to buy if you can find someone to rent. I hear time and time again in most posts here that people are choosing to rent so it would stand to reason that might be a decent investment. I can't imagine new home prices going much lower than that but who knows anymore.

Great article...thanks for the info

Your logic is reversed. People are choosing to rent because of the mess real estate is in, the risk that it will drop, and because they can choose from tons of cheap rentals.

So you think that is the reason people should buy? Oh well, like they say, fog a mirror and you can become a realtor.

[ddlove01]

ahhh, another disguised RE bubble thread : )