Fort Myers Condo/Townhouse market (Punta Gorda, Lee: for sale, condos, job)

[WW47]

What does everyone think? Think it will go down a bit more? At what percent?

[firemed]

Originally Posted by WW47

What does everyone think? Think it will go down a bit more? At what percent?

Record home-price declines as all top cities turn sour: study - MarketWatch

[121804]

A "bit" more??

Just who is going to be buying close to the area of 30,000 homes/condos/townhomes that are for sale? And how will they be paying for them in a city that has no job market & horrible school system? I don't see thousands of snowbirders buying in Fort Myers in the next 2-3 years even if prices drop.

A bit more? It is going to take Ft Myers YEARS to shed the mess greed made if it can even be fixed.

[WW47]

Originally Posted by 121804

A "bit" more??

Just who is going to be buying close to the area of 30,000 homes/condos/townhomes that are for sale? And how will they be paying for them in a city that has no job market & horrible school system? I don't see thousands of snowbirders buying in Fort Myers in the next 2-3 years even if prices drop.

A bit more? It is going to take Ft Myers YEARS to shed the mess greed made if it can even be fixed.

Yes, I understand this. but my question was directed more, because I made a low offer on a town home/shortsale~ and when the bank does an appraisal on it, I'm hoping I get it for the low price I offered. I've been reading a lot that prices in Lee County are going back to what they were in 2002, and this specific townhome was bought for close to what my offer was.

[121804]

Originally Posted by WW47

Yes, I understand this. but my question was directed more, because I made a low offer on a town home/shortsale~ and when the bank does an appraisal on it, I'm hoping I get it for the low price I offered. I've been reading a lot that prices in Lee County are going back to what they were in 2002, and this specific townhome was bought for close to what my offer was.

I even wonder if it is smart to buy in Lee County right now? Wasn't it last month that Lee County was named the most overbuilt city in Florida with the most For Sale signs? We lived in Punta Gorda & there were over 2,000 condos for sale there & that is a very small area compared to Fort Myers. We never saw anything sell in over 9 months in our specific area. It is actually quite scary.

I hope your offer was nice & low for I wonder what the value of things will be in 3-5 years?

Good luck & hope you get a decent deal.