Cape Coral lots? (Matlacha, Bell: for sale, rental, house)

[doharris1]

Will have some capital in October and am considering looking at lots in CC (already own a rental house there). Any opinions? Should I only consider gulf access? Or only waterfront in general?

This may be a stupid question, but if water/sewer have already been installed in the area, will the assessments be like an already built house, either already paid or on an annual payment? Also there was a question in another thread about whether the impact fees were due on an undeveloped lot or not, did anybody ever get an answer to that?

Thanks.

[nhkev]

Originally Posted by doharris1

Will have some capital in October and am considering looking at lots in CC (already own a rental house there). Any opinions? Should I only consider gulf access? Or only waterfront in general?

This may be a stupid question, but if water/sewer have already been installed in the area, will the assessments be like an already built house, either already paid or on an annual payment? Also there was a question in another thread about whether the impact fees were due on an undeveloped lot or not, did anybody ever get an answer to that?

Thanks.

Would you be looking as an investment or to someday build a retirement home? As far as investment they both have dropped about 90% in value from peak to trough. Much farther than homes did. Vacant lots are not as liquid as improved lots or other investments. This makes them a risk. However usually with higher risk comes higher reward or punishment as we saw with the 90% drop. So i believe the downside risk is limited. Even though the risk is limited why would anyone expect the price to rise? You need to study the basic rules of supply and demand and decide whether there is a glut or shortage of vacant lots. In cape coral there are 1600 for sale. What is the demand? Do you anticipate a spike or drop in the supply. What is upcoming the will have an effect on available inventory. ? For example you mentioned assessments. When they restart in the north sections and hit people with a 17k assessment on a lot valued at 6k could that cause a lot of owners to walk away or want to sell their properties?

If you were buying as a future retirement would you be wanting gulf access for boating. If not why pay to li e on a golf course if you don't golf. Personally i love boating and purchased a gulf access lot. But do you want to pay the high taxes and high flood ins to be on the canal? When it comes to gulf access there is a limited supply and typically the more expensive homes are built on them a.d are typically nicer neighborhoods. They will typically return a higher dollar amou.t than a la.dlocked lot but i would bet the percentage return would be similar. I would most definaely buy a lot that already has utilities and yes they would show up just as a house on the cities payoff page. Impact fees was voted down on vacant lots.

[doharris1]

Thanks. It would be investment.

[joebaldknobber]

I have purchased several interior lots recently in Cape Coral, and Bella Vista, Arkansas at low prices.

Buy when there is blood in the streets.

Buy some land in a Self Directed Roth IRA. Profits will be tax free.

[jwjustin]

We purchased an investment home a in 2010 and purchased a gulf access canal lot two months later. The lot is near Embers Pkwy between old and new Burnt Store Road. Plan to build on the lot when utilities are installed in 5-7 years. It's a great area with close access to Matlacha & the gulf through the Ceitus lift area that was removed. We're very happy with both purchases. We try to get down twice a year.

[nhkev]

Originally Posted by jwjustin

We purchased an investment home a in 2010 and purchased a gulf access canal lot two months later. The lot is near Embers Pkwy between old and new Burnt Store Road. Plan to build on the lot when utilities are installed in 5-7 years. It's a great area with close access to Matlacha & the gulf through the Ceitus lift area that was removed. We're very happy with both purchases. We try to get down twice a year.

I did the exact same thing. We'll probably be neighbors someday. Just drove by the burnt store boat ramp and it is reopened. Was closed due to the high water levels. Going out to matlacha pass and cayo cosga the next 5 days