Hmmm....on a budget....where to live Fort Myers/Cape Coral? (Lehigh Acres: bank owned, short sale)

[Chicken Wing]

My fiance and I are on a budget and don't want to spend more than 90k. She works in Fort Myers (near the airport) so if we do live in Cape Coral, it would have to be southeast Cape Coral so her commute isn't too crazy. We don't like Lehigh Acres so that's out. We do like some sections of San Carlos Park near Three Oaks but that seems hit or miss. Some streets look run down and other streets look great. Our realtor suggested Fort Myers Villas but we aren't too familiar with that area.

Any suggestions? Thoughts?

It's appreciated.

[Roadrunner69]

As I was reading your post I was thinking the Villas. I like it alot central to everything and all the homes are different. Google Earth Woodland Blvd. the main street going through the neighborhoodand check it out. You can't beat the location. Good Luck

[justNancy]

I don't like the area called the Villas, but it comes down to personal taste. I would also not recommend San Carlos Park. Three Oaks is a nice community. What exactly are you looking for? A condo? A single family home? I lived in the area for many years and was looking in the same price range. When you shop for anything in life, you need to ask yourself why item A is so much less than item B. When you buy a car, maybe it's just the name, but maybe it's also the superior quality, resale value, safety, amenities, etc. When you shop for a home, all of those things matter, but you also have to consider schools (if you have children or plan to) and the people living around you. A home is usually the most important investment of your life.

If you want a single family home, unless you are willing to settle for an older home or fixer-upper in a questionable area, Fort Myers will probably be unaffordable. I don't usually recommend Cape Coral, but if you are looking to spend under $100,000 for a house, it's your best bet. If you will consider a condo, then Gateway is the obvious choice for someone who works at RSW. There are 2 and 3 bedroom condos there listed for under $90,000. I suggest you also get a list of bank owned homes & condos in the area, since so many are available.

[Chicken Wing]

Originally Posted by justNancy

I don't like the area called the Villas, but it comes down to personal taste. I would also not recommend San Carlos Park. Three Oaks is a nice community. What exactly are you looking for? A condo? A single family home? I lived in the area for many years and was looking in the same price range. When you shop for anything in life, you need to ask yourself why item A is so much less than item B. When you buy a car, maybe it's just the name, but maybe it's also the superior quality, resale value, safety, amenities, etc. When you shop for a home, all of those things matter, but you also have to consider schools (if you have children or plan to) and the people living around you. A home is usually the most important investment of your life.

If you want a single family home, unless you are willing to settle for an older home or fixer-upper in a questionable area, Fort Myers will probably be unaffordable. I don't usually recommend Cape Coral, but if you are looking to spend under $100,000 for a house, it's your best bet. If you will consider a condo, then Gateway is the obvious choice for someone who works at RSW. There are 2 and 3 bedroom condos there listed for under $90,000. I suggest you also get a list of bank owned homes & condos in the area, since so many are available.

Yeah, we might end up in Cape Coral. We want a single family home, not a condo.

[Angelala]

We have owned a home in Cape Coral for 2 years now and love it. Now is the time to buy there.

[fwi]

Originally Posted by justNancy

I don't usually recommend Cape Coral, but if you are looking to spend under $100,000 for a house, it's your best bet.

You don't "usually" recommend CC? When did you become such an expert on the place?

[justNancy]

Originally Posted by fwi

You don't "usually" recommend CC? When did you become such an expert on the place?

I don't understand the question or your hostility. Since I lived in Lee County for over 15 years until last month, I think I have a right to voice an opinion. I did live in Cape Coral for a short time, but that was a long time ago. I've been to Cape Coral hundreds of times. The OP asked about areas in Lee County and I mentioned the areas I know. What's your problem? Where did I say I was an expert?

[Chicken Wing]

Are foreclosures really getting that many bids?

Our realtor sent us a few MLS listings that fit our criteria and when we told her that we wanted to see one of them this weekend, she got back to us and said that there have been multiple offers already on the property and if we wanted, we'd probably have to up in an offer that day.

I'm wondering if the other realtor (the one for the seller) was blowing smoke to our realtor about how many offers were put in or maybe our realtor is just pressuring us into a decision.

I'm new to all this foreclosure stuff.

[justNancy]

I'm guessing it depends on if it's a great deal and what the other houses in the neighborhood are selling for and how quickly, but they have been moving rapidly in the Cape.

On the other hand, I was told more than once that "this house won't be here next week" regarding a short sale or regular listing and it's still on the market 6 months later. So you never know. Maybe a real estate agent on this board will see your post and answer you.

(Hope it's okay with fwi if I make a comment without being a foreclosure expert)

[Angelala]

We sold our house and were looking for a couple of months for a gulf access one and I can tell you that we put many offers (some over asking price) on houses and we were outbid many times. I was getting very frustrated with the "give your best and final" line I was getting, so finally I decided to play their game and instead of going through my agent when I found a house I called the listing agent and that is how I got my house. It seems that the real estate agents don't want to share the pot and will push their people through first. And I know for a fact that this is true because I watched a property that we did not get to see how much it ended up selling for. It ended up selling for 10,000 less than what we bid! And ours was a cash offer!! So there are some dirty dealings going on for sure. This was a bank owned house so I find it hard to believe that they turned down a higher cash offer. I doubt the listing agent even turned our offer in. Gulf access houses that are priced right are selling within days, especially in the SW area. So my advice for someone looking to buy is to not have their own agent, just call the listing agent so you actually have a chance to get it.