U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > Florida > Fort Myers - Cape Coral area
 [Register]
Fort Myers - Cape Coral area Lee County
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Closed Thread Start New Thread
 
Old 12-29-2012, 02:40 PM
 
Location: Cape Coral, Florida
693 posts, read 1,764,685 times
Reputation: 365

Advertisements

Quote:
Originally Posted by equalrightsforeveryone View Post
This say it all. They created a bubble just like I said and sales plummeted in the second quarter.
When you have that much of a price increase and such low sales the market is being manipulated, end of story
This represents the worst sales ever
This is laughable. This graph was obviously created during the first week of the first month of the 2nd quarter or created by Equal himself. The sales dropped from like 1800 to 100 overnight? According to the numbers I see, there were 129 closed sales in Cape Coral with an average of about $160k in just the week of April 23rd alone. Crack Kills buddy!

A Look at the Cape Coral Real Estate Market (April 23, 2012 - April 29, 2012) | CapeCoral.com

 
Old 12-29-2012, 06:41 PM
 
Location: Cape Coral
5,495 posts, read 6,320,802 times
Reputation: 2217
Quote:
Originally Posted by equalrightsforeveryone View Post
This say it all. They created a bubble just like I said and sales plummeted in the second quarter.
When you have that much of a price increase and such low sales the market is being manipulated, end of story
This represents the worst sales ever
This graph was obviously created before the 2nd quarter was complete and only shows partial sales for the quarter. Funny how equal did not comment on the soaring increase in median prices!
 
Old 12-29-2012, 07:21 PM
 
Location: Cape Coral, Florida
693 posts, read 1,764,685 times
Reputation: 365
Quote:
Originally Posted by rikoshaprl View Post
This graph was obviously created before the 2nd quarter was complete and only shows partial sales for the quarter. Funny how equal did not comment on the soaring increase in median prices!
He did, he blamed the low sales on the increase in selling prices.
 
Old 12-30-2012, 12:49 PM
 
Location: Cape Coral, FL
154 posts, read 314,288 times
Reputation: 132
It appears sales were strong until they started dropping off in October. Both the "median sales price" and "average price per square foot" have increased about 20% over the last year--hats off to whomever is "manipulating" the prices...LOL

 
Old 12-31-2012, 03:32 AM
 
Location: Cape Coral
319 posts, read 484,032 times
Reputation: 508
The market inventory always piques before season. Every realtor wants to catch the Febuary rush. To any who may be selling to upgrade or selling to consolidate, since we don't have a resolution yet, it looks like Capital Gains are going up.

Remember 1031 Exchanges. I don't know all of the mechanics but, you can sell, lock up the money in an exchange for 90 or so days and make a purchase, "Arms Length", while protecting those profits from Capital Gains taxation. The money has to go back into a "Like/Kind" investment.

FAQs - FEA - 1031 Exchanges

I don't think these work on primary residents since CG is exempt up to $500 k for a couple who live in a home over 5 years.

2nd homes can be finagled a little bit using the 1031. As well as raw land.

Those who live on water frontage. Your metrics are different, if you live on direct access or even behind the locks, your home is a commodity. We are not making waterfront anymore, unless its vertical. While you may have experienced the same 40 to 50% value drop, your values will rise faster than, fresh water and non water homes. Continual reinvestment in your waterfront home is never a bad thing. You still have functional obsolescence to contend with inside the home, but your raw land, sea wall and dock are very precious.

Over the last two years was a perfect time to buy up waterfront, if you buy now, 10% will be the norm on your return factoring in our tax deliema or the Cliff we all dive off of tonight.
 
Old 12-31-2012, 07:27 AM
 
1,299 posts, read 1,995,751 times
Reputation: 245
Quote:
Originally Posted by xoomer View Post
It appears sales were strong until they started dropping off in October. Both the "median sales price" and "average price per square foot" have increased about 20% over the last year--hats off to whomever is "manipulating" the prices...LOL
Basic Economics 101
Item one
When demand for a commodity increases the price for said commodity rises.


Item two
When demand for a commodity decreases the price for said commodity falls.


Item three
When demand for a commodity declines severely,, but the price of said commodity rises,--- The market is being manipulated


This is first grade stuff people get with it.
Everyone one should get this it is so inyourface that no one can miss it.
 
Old 12-31-2012, 07:50 AM
 
1,299 posts, read 1,995,751 times
Reputation: 245
The last home that sold in our neighborhood was a 1377 sqft home it sold in the fourth quarter. The price was $50,100.00. That is $36.39 per sqft. And it was in good condition and occupied when it sold.
That is less then I paid for our home which is 100 sqft less in area back in 2009.
Real estate recovery mine hindquarters.
It is going down just as I said it would, hold on to your shorts
 
Old 12-31-2012, 09:37 AM
 
Location: Florida Space Coast
2,330 posts, read 4,332,897 times
Reputation: 1514
Quote:
Originally Posted by equalrightsforeveryone View Post
The last home that sold in our neighborhood was a 1377 sqft home it sold in the fourth quarter. The price was $50,100.00. That is $36.39 per sqft. And it was in good condition and occupied when it sold.
That is less then I paid for our home which is 100 sqft less in area back in 2009.
Real estate recovery mine hindquarters.
It is going down just as I said it would, hold on to your shorts

interesting the house right next door to the one you're talking about sold for $149k this year also. How come you didn't post that a house on your street sold for three times what you paid for yours?
 
Old 12-31-2012, 10:16 AM
 
Location: Cape Coral, FL
154 posts, read 314,288 times
Reputation: 132
Quote:
Originally Posted by equalrightsforeveryone View Post
Basic Economics 101
Item one
When demand for a commodity increases the price for said commodity rises.


Item two
When demand for a commodity decreases the price for said commodity falls.


Item three
When demand for a commodity declines severely,, but the price of said commodity rises,--- The market is being manipulated

Real estate isn't a perfect market, like the stock market, where demand, supply, and price move in an instantaneous manner--there are many other factors involved.

Buyers and sellers don't concern themselves with the number of homes being sold before they decide on the price they will ask, or pay--they just look at the recent prices homes have been selling for. It takes a while for reality to set in after the homes offered for sale sit on the market for several months and no offers are received--then the sellers will start to lower the prices.

In any case, how would anyone manipulate the pricing of almost 20,000 individual homes sold in the last year? Impossible...

Last edited by xoomer; 12-31-2012 at 10:50 AM..
 
Old 12-31-2012, 12:28 PM
 
Location: Florida Space Coast
2,330 posts, read 4,332,897 times
Reputation: 1514
Quote:
Originally Posted by equalrightsforeveryone View Post
Basic Economics 101
Item one
When demand for a commodity increases the price for said commodity rises.

Item two
When demand for a commodity decreases the price for said commodity falls.

Item three
When demand for a commodity declines severely,, but the price of said commodity rises,--- The market is being manipulated

This is first grade stuff people get with it.
Everyone one should get this it is so inyourface that no one can miss it.

you must have dropped out of the 101 class before it ended because you missed the whole supply side of the equation. Basic 101 is supply vs demand not just demand. when there were 6000 single family homes for sale in Cape Coral prices dropped like a rock because there was little to no demand (only about 100 sales per month). When the prices hit about half of replacement cost demand picked up tremendously (about 500 per month) prices still dropped for about 6 months even though demand had picked up (just like xoomer said) there is a lag in chart lines. when demand started to outpace new supply coming to the market the inventory started to dwindle and quickly dropping to under 1500 single family homes available. right now there is about a 4 month supply of homes sales compared to inventory. this is a sign of a healthy market . it is the relationship of sales vs inventory vs new supply that decides the price not just sales number. Equal this is why you are always wrong. you cherry pick numbers that you always look at with a negative mindset. Things never turn out the way you predict because you never look at the whole picture objectively.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Closed Thread


Options
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Fort Myers - Cape Coral area
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top