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| Fort Myers - Cape Coral area Lee County |
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While a spectacular steal/deal on a house is always possible, I believe prices in the area are beginning to bottom out. Anybody who must sell is petrified and a lot of the fat has already been trimmed off the nice stuff, right now.
No one is unaware of the present market conditions, so there are buys out there. I bought my house in 2002 for $385,000 and they are now going for $475,000 after having hit in the neighborhood of $700,000, just 2-3 years ago. Certain areas, like PGI, are holding up pricewise, but have come down to a more reasonable range while having a lot of the "goodies." There is $$$ out there, despite the crying, so the real nice stuff will disappear soon. |
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I agree with you
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Some of these homes in cape coral are already dirt cheap. (3/2 1300-1700 sq ft for 80k to 100k) Just a year ago they were 160k or better. don't think they could get much cheaper. hopefully they do though, i'll be buying!!!!!!!!!!!!!!
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Quote:
I did a financial analysis of a $100,000 mortgage for 5 years at 4% and got a monthly payment of $1841.65.. The same mortgage at 6% for the same time required a monthly payment of $1,933.28. That's a monthly increase of $91.63. Where do you get 100% ? I think you scared the pants off those people with bogus mathematics!!! Please correct me if I'm wrong. Last edited by Augie; 04-18-2008 at 12:34 AM.. Reason: spelling |
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Where are you?
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Good luck getting the 80-100K houses. Most of them are short sales and the many of the Realtors are "holding" the bids in attempt to get higher bids (sometimes for months). Also, the term "short sale" is misleading. It take just as long (or longer) as a regular sale. There has been an up tick in buying, via bargain hunters, or foreigners (UK pound is 2 to 1, the Euro is 1.68 to 1 and the Canadian dollar is like 1.4 to 1).
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As intriguing as this area is in terms of relatively inexpensive homes and apparent access to the beach and other recreational opportunities, it always comes back to my personal experience with Florida, it's great when I get there, but I can't wait to get back home to the NE by the end of two weeks.
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