The deal with housing... (Cape Coral, Fort Myers: short sales, real estate, foreclosures)

[ArcticPhoenix]

Okay, so what's the deal with housing in Fort Myers? According to most websites I've looked at, the median sales price for houses is about 100-110K... but most of the houses I've seen in that price range are short sales, so what is the chance for getting a house under $120K? In a decent area, that's at least 3 bedrooms & 1200 sq. ft.?

I mean, I see them advertised all over the place, but can I actually pick up a house in a decent neighborhood for that price?

Thanks,

A.P.

[equalrightsforeveryone]

Originally Posted by ArcticPhoenix

Okay, so what's the deal with housing in Fort Myers? According to most websites I've looked at, the median sales price for houses is about 100-110K... but most of the houses I've seen in that price range are short sales, so what is the chance for getting a house under $120K? In a decent area, that's at least 3 bedrooms & 1200 sq. ft.?

I mean, I see them advertised all over the place, but can I actually pick up a house in a decent neighborhood for that price?

Thanks,

A.P.

Wait a while there is a new round of foreclosures coming in this area, then buy a foreclosure.
Those short sales are nothing but hassle

[nhkev]

Originally Posted by ArcticPhoenix

Okay, so what's the deal with housing in Fort Myers? According to most websites I've looked at, the median sales price for houses is about 100-110K... but most of the houses I've seen in that price range are short sales, so what is the chance for getting a house under $120K? In a decent area, that's at least 3 bedrooms & 1200 sq. ft.?

I mean, I see them advertised all over the place, but can I actually pick up a house in a decent neighborhood for that price?

Thanks,

A.P.

To answer your question, yes .

[ArcticPhoenix]

Originally Posted by equalrightsforeveryone

Wait a while there is a new round of foreclosures coming in this area, then buy a foreclosure.
Those short sales are nothing but hassle

Are there redemption laws in Florida? We went to buy a foreclosure in Washington State here but the family was able to come back and buy the house... after we had moved in... it sucked royally and it soured me on the whole foreclosure thing.

On a related issue, why will there be a new round of foreclosures?

[ArcticPhoenix]

Also, what are some areas to avoid? What towns are affordable and relatively safe?

[equalrightsforeveryone]

Originally Posted by ArcticPhoenix

Are there redemption laws in Florida? We went to buy a foreclosure in Washington State here but the family was able to come back and buy the house... after we had moved in... it sucked royally and it soured me on the whole foreclosure thing.

On a related issue, why will there be a new round of foreclosures?

As far as I know once the foreclosure process is complete here, as in the title was transferred in to the lien holders/financial institution name. I don't think the owner can get the property back from you if you bought it from the lien holder.
I was told it could not happen here, but if you have any concerns you should check with a real estate attorney. they will be able to answer all the questions.

As far as area goes first figure out where you want to live around here, there is major transition going on in SWFL. Get a listing book account fill in your search criteria and you can check the whole area. Just search for listing book it's a free services for the buyer. Also most of the county and city info is online here, so it's pretty easy to get the info you need.
I was able to find out everything I wanted to know online, best to get the info yourself, people put out a lot of misinformation on forums.
Good luck hope you find what you're looking for.

[hiknapster]

I do not believe that there is anything like redemption regarding foreclosures in The South, in general. I was a real estate agent for awhile and I never heard of it.

My MIL just bought a beautiful pool home. About 2,400 square feet. About 20 years old. Nice area of Cape Coral, southeast. She paid $127,000 and I believe she could have paid less. It was a foreclosure, too.

[ArcticPhoenix]

So does anybody have any suggestions as to what the good areas of Fort Myers are? I'd really like to know what areas to avoid should I and my family find ourselves there..

Also, if we are west of the airport, is there any way to avoid the toll from North Fort Myers to drive south?

[pcozad1]

We bought a beautifull 2100 sqft home two years ago for 55000.00. My mother just purchased a home for 86000.00 that sold in 05 for 242000.00.It was move in ready didnt even paint.

[ArcticPhoenix]

Originally Posted by pcozad1

We bought a beautifull 2100 sqft home two years ago for 55000.00. My mother just purchased a home for 86000.00 that sold in 05 for 242000.00.It was move in ready didnt even paint.

Is that in a relatively safe, quiet neighborhood?