Cape Coral problem spot?? (Fort Myers, Jupiter: appointed, to rent, homes)

[ChrisA70]

I'm on Pelican at the end towards Gleason. The streets I refer to are mostly Santa Barbara, and Pelican/Skyline... I see a bunch of foreclosures around here.

Originally Posted by Suncoast Guy

What is your area?

[Suncoast Guy]

Originally Posted by BacktoFLigo

I'm on Pelican at the end towards Gleason. The streets I refer to are mostly Santa Barbara, and Pelican/Skyline... I see a bunch of foreclosures around here.

I know that area. I use to (and have family) that live on and around Palm Tree Blvd. in the old Golf Club area in SE. When I was down there on July 4th holiday, a saw a few houses for sale, a couple for sale had been sold or rented, and 1 foreclosure on Archer, or was it Shelby. Anyway, beside that, I didn't see any foreclosure, although I saw a few "prices lowered" signs, but what is to be expected after a few years of a house being on the market.

[ChrisA70]

Ya, there are a lot of "price reduced" homes all over the place here. A few of the foreclosures are duplexes, and one family homes. There are a few condo foreclosures on Santa Barbara.

[Donna-501]

I haven't seen any foreclosures yet but did look on realtor.com and there is so many short sales. With all the short sales and foreclosures that are happening my home value will be that I paid for 15 years ago. In my neighborhood I don't really see any I think because most people over here have lived here for 8 yrs or longer.

[Bakiryu]

Originally Posted by Suncoast Guy

And what section, may in inquire, of Cape Coral did you live in?

First near Fort Myers (can't remmenber the exact location) and then near Cape Highschool (Down Santa Barbara).

Originally Posted by faithfulFrank

I find this post a bit alarmist and exaggerated. I know the area has some problems, but to say there are NO jobs....(as in 100% unemployment??) and MOST houses are foreclosed, (like in 51% or more??) and EVERYONE is leaving, (so it is now a ghost town with palm tumbleweeds in the streets?) is a bit of an overstatement....., IMHO.

Frank D.

Well, not 100% but most of my family (which is quite large) moved there and at first everyone worked, then the economy crashed and most of my high school friends' parents' left and then everyone else began getting fired. My cousin moved his flourishing company there and it got no business whatsoever. Mostly everyone I knew left. Even all the neighborhoos where we lived. If you went for a drive you would only see houses with for sale signs on them.

[lobsterss]

I live in the cape . There are couple for sale here and there as they could very well be rentals that they want to sell off before they loose more equity. Cape Coral is a HUGE vacation rental area and has many tourists so that stands to reason. I have read there are forclosures but have not seen a forclosed property myself. But lets also note i have seen many many homes that are occupied and the owners are quite happy ~Matter of fact the streets are clean and even have bike paths on them in the SW area, I found that area quieter. . You have the more active area as NE where the shopping is and alot of govt areas , doctors, dentists, restaurants etc. So all in all i like the NE for all it has to offer and i enjoy the laid back feeling in the SW. PLus i met alot of excellent people here ~

[yachtcare]

Originally Posted by lobsterss

I live in the cape . There are couple for sale here and there as they could very well be rentals that they want to sell off before they loose more equity. Cape Coral is a HUGE vacation rental area and has many tourists so that stands to reason. I have read there are forclosures but have not seen a forclosed property myself. ~

Many realtors have began removing signs from properties that havent sold. When the sign "takes root" in the front lawn, it gives a "shop worn" apperance that there might be something wrong with the house, as no one has bought it yet. There are plenty(more than a couple, here and there) of houses in the MLS that dont have signs on them.
As far as foreclosures go, although I have actually seen a couple like this, most people dont put a sign on their lawn stating that their home is in foreclosure. Could be why you havent seen them either....

[ChrisA70]

And another reason they have no signs is to keep people from breaking into them and keeping squatters out. That has been on the news...

[lobsterss]

Well then again we must not blame Cape Coral for all the forclosures here, we must all in the end blame the economy and our own leadership who got us in this mess Again Cape Coral is made of regular residents and then u have your vacation rentals. Well obvisouly since we are in a recession they lost alot of equity in thier homes they rent out they sell a bit of overhead per thier loss of money . Or if its your retirement investment u may want to sell as well and or rent elsewhere to cut your losses. To me its common sense . When u are not making money on a home u sell pretty simple. I would not suggest anyone, ANYWHERE USA to buy now ..Sure the interest rates and creative mortgages are appetizing. I'd wait till we get outta this dog gone recession.

[DailyJournalist]

Originally Posted by lobsterss

Well then again we must not blame Cape Coral for all the forclosures here, we must all in the end blame the economy and our own leadership who got us in this mess Again Cape Coral is made of regular residents and then u have your vacation rentals. Well obvisouly since we are in a recession they lost alot of equity in thier homes they rent out they sell a bit of overhead per thier loss of money . Or if its your retirement investment u may want to sell as well and or rent elsewhere to cut your losses. To me its common sense . When u are not making money on a home u sell pretty simple. I would not suggest anyone, ANYWHERE USA to buy now ..Sure the interest rates and creative mortgages are appetizing. I'd wait till we get outta this dog gone recession.

The states with the most pre-foreclosure filings per 1,000 households year to date through July:

• Nevada, 59.1 per 1,000, up 126.44 percent from a year ago
• Arizona, 54.9 per 1,000, up 403.67 percent from a year ago
• Florida, 48.3 per 1,000 up 176 percent from a year ago
• California, 25.2 per 1,000, up 119.13 percent from a year ago.