Lee county real estate update (rental, house, buy)

[luvtobewarm]

Originally Posted by nhkev

http://http://www.news-press.com/art...c-fashion-2013

big difference of 4200 foreclosures in a year vs 26,000 during the worst bust years. also describes being hard to find labor.

I tried to read it, but it says it is not found??? Looks interesting.

[Izmack]

Originally Posted by luvtobewarm

I tried to read it, but it says it is not found??? Looks interesting.

This should help:

http://www.news-press.com/article/20...c-fashion-2013

[nhkev]

with repeated arctic blast after arctic blast this should be a big winter for warm climates

Median price of homes climbed 24 percent in December across Lee County - cape-coral-daily-breeze.com | News, sports, community info. - Cape Coral Daily Breeze

[prairie360]

Good stuff! Thanks nhkev.

[wellsme]

We are amazed on the amount of new construction going on throughout the Cape. Driving around we noticed that the southwest had the most. These were higher end homes too.
Very few realtor signs in our area (NW) compared to when we bought five years ago. Great news for all of us.

[doharris1]

Interesting, thanks. If I don't get a renter in the next couple of weeks it may be time to look at listing mine. I'd like to wait another year though.

[doharris1]

Any updates on the local conditions? I enjoy reading when they get posted.

I know it's seasonal, but I'm really looking at listing my rental next Feb-March or so.

[hiknapster]

I'd be interested, too. My MIL (ex, but the entire family still includes me) has her house up for sale, since she wants to try to live in the US Northwest. I told her it is more of a seller's market, right now.

[nhkev]

April is usually the peak month of the year. the stats should be out in a couple of days. up to this point of the season sales have been strong, foreclosure rates are at 8 year lows, prices have stabilized, after this month I would guess the days of double digit appreciation year over year will end. Inventories are at a 6 month supply, which is a balanced market (neither buyer or seller market). Days on market are very short less than 60 days.

anyone that bought in 2008-2010 with the intention of keeping a couple years and selling for a profit probably should have listed in March. I think there will be ok gains made this year but after that I believe it will be a normal market with the big gains already in the past. Vacant waterfront parcels are the hot item now as construction is beginning to pick up. multi family rentals are also a hot asset that many people are looking for, as rental prices are expected to increase.

The area led the country in percent of sales that were cash at 73% which means interest rates have little bearing on the local market.

Investors that bought in 2008-2010 that have been renting out their properties are likely to keep them because the 5% appreciation expected over the next couple years along with the positive cash flow of 10% in rental income is still better than most other asset classes.

[hiknapster]

Great info! Thanks!