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Old 07-31-2008, 12:38 PM
 
2 posts, read 5,253 times
Reputation: 12

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All the jobs were in Real Estate, Building Real Estate, Banking, and the exchanging or conveyance of real estate. The whole momentum of the economy was based on banks loaning out money....

Its not becuase people had good paying jobs from good solid companies that actually manufacture something.. This whole area here was hit with a huge pyramind scheme!!!

So, tell me now that the scheme is over - how do you expect people to pay for what your selling for big money when the very thing that fueled the economy ( REAL ESTATE ) is gone - tanked. How do you expect the average people to pay big rents when the only jobs here now are service jobs, cashier jobs and doctor office jobs, etc.. All the builders I knew and worked for are gone now.. Cape Coral is not a place to be investing as far as the rental market go's...


This weeks TIME magazines article ( Cape Coral is mentioned )

[URL]http://www.time.com/time/magazine/article/0,9171,1821648,00.html[/URL]

Last edited by cmj_fla; 07-31-2008 at 05:47 PM.. Reason: fixed link
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Old 07-31-2008, 01:44 PM
 
5 posts, read 13,452 times
Reputation: 10
Quote:
Originally Posted by jumperplight View Post
All the jobs were in Real Estate, Building Real Estate, Banking, and the exchanging or conveyance of real estate. The whole momentum of the economy was based on banks loaning out money....

Its not becuase people had good paying jobs from good solid companies that actually manufacture something.. This whole area here was hit with a huge pyramind scheme!!!

So, tell me now that the scheme is over - how do you expect people to pay for what your selling for big money when the very thing that fueled the economy ( REAL ESTATE ) is gone - tanked. How do you expect the average people to pay big rents when the only jobs here now are service jobs, cashier jobs and doctor office jobs, etc.. All the builders I knew and worked for are gone now.. Cape Coral is not a place to be investing as far as the rental market go's...


This weeks TIME magazines article ( Cape Coral is mentioned )
http://www.time.com/time/magazine/article/0,9171,1821648,00.html
This is a good point!! .
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Old 07-31-2008, 07:17 PM
 
Location: Land of Free Johnson-Weld-2016
6,473 posts, read 14,349,745 times
Reputation: 6451
Default I give In

Sigh. I guess I had better listen to the voice or reason. I guess the prices in Cape Coral are so low for a reason. . . Thanks to all of the residents who dissuaded me from wasting my hard-earned cash on a vacation house there. I'm still a little sad. . .
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Old 08-02-2008, 10:34 AM
 
246 posts, read 943,845 times
Reputation: 67
Quote:
Originally Posted by kinkytoes View Post
Is there already a lot of Section 8 in Cape Coral?
Not to my knowledge.
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Old 08-02-2008, 04:07 PM
 
2,141 posts, read 6,427,874 times
Reputation: 589
Quote:
Originally Posted by jumperplight View Post
All the jobs were in Real Estate, Building Real Estate, Banking, and the exchanging or conveyance of real estate. The whole momentum of the economy was based on banks loaning out money....

Its not becuase people had good paying jobs from good solid companies that actually manufacture something.. This whole area here was hit with a huge pyramind scheme!!!

So, tell me now that the scheme is over - how do you expect people to pay for what your selling for big money when the very thing that fueled the economy ( REAL ESTATE ) is gone - tanked. How do you expect the average people to pay big rents when the only jobs here now are service jobs, cashier jobs and doctor office jobs, etc.. All the builders I knew and worked for are gone now.. Cape Coral is not a place to be investing as far as the rental market go's...


This weeks TIME magazines article ( Cape Coral is mentioned )

Is Florida the Sunset State? - TIME
WOW this is a great article! I think the quote Arva Moore Parks made about the past was great! "We know how to crash and how to recover," says Miami historian Arva Moore Parks. "We don't seem to know how to learn." That is just so TRUE!
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Old 08-03-2008, 02:25 PM
 
5 posts, read 13,452 times
Reputation: 10
Quote:
Originally Posted by Donna-50 View Post
Not to my knowledge.
We moved to the Cape from LI 3 years ago and it changed alot. I think most of the cape will be low cost housing soon.
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Old 08-05-2008, 08:21 PM
 
246 posts, read 943,845 times
Reputation: 67
Quote:
Originally Posted by CapeCorallost View Post
We moved to the Cape from LI 3 years ago and it changed alot. I think most of the cape will be low cost housing soon.

I've been here 15 years and don't see that. Yes, we are having quite a few foreclosures but so is the rest of the country. I haven't seen any section 8 and haven't heard of it. My friends that rent get checked out as far as credit, jobs, etc. What makes you say that?
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Old 08-06-2008, 07:20 PM
Status: "In my anti Corona hidey hole......." (set 9 hours ago)
 
Location: North Central Florida
5,411 posts, read 6,439,058 times
Reputation: 3217
Quote:
Originally Posted by Donna-50 View Post
I've been here 15 years and don't see that. Yes, we are having quite a few foreclosures but so is the rest of the country.


I've been here just under 18 years, and I see it getting worse every day.
Here's a few FACTS for you to chew on.....

Lee county has had over 28,000 foreclosures in the two year period from July 1, 2006 thru July 31, 2008. Pretty significant number when theres under 400,000 population. Most places in the country, are having far fewer foreclosures than that. On a per capita basis.

Lee county unemployment rate is currently at 7.5%, well above the national average. But still less than Detroit

The suicide rate has TRIPLED in the past year, in Cape Coral, alone

Was reported today, that while "overall" crime is down in Cape Coral, from same period last year, burglaries and MURDERS are up slightly. I guess that means less petty crime, more serious crime?

Can you see it now?

Several people I know that have recently rented in the Cape, were simply handed a lease to sign. No credit checks, or background screening. If they had the upfront deposit money, they were in. The rental market is extremely competitive here now. Anyone with an empty property is looking for any kind of income they can get.
I agree, I dont know of any section 8, yet. But it's just a matter of time.
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Old 08-07-2008, 09:44 AM
 
2,141 posts, read 6,427,874 times
Reputation: 589
Quote:
Originally Posted by yachtcare View Post
I've been here just under 18 years, and I see it getting worse every day.
Here's a few FACTS for you to chew on.....

Lee county has had over 28,000 foreclosures in the two year period from July 1, 2006 thru July 31, 2008. Pretty significant number when theres under 400,000 population. Most places in the country, are having far fewer foreclosures than that. On a per capita basis.

Lee county unemployment rate is currently at 7.5%, well above the national average. But still less than Detroit

The suicide rate has TRIPLED in the past year, in Cape Coral, alone

Was reported today, that while "overall" crime is down in Cape Coral, from same period last year, burglaries and MURDERS are up slightly. I guess that means less petty crime, more serious crime?

Can you see it now?

Several people I know that have recently rented in the Cape, were simply handed a lease to sign. No credit checks, or background screening. If they had the upfront deposit money, they were in. The rental market is extremely competitive here now. Anyone with an empty property is looking for any kind of income they can get.
I agree, I dont know of any section 8, yet. But it's just a matter of time.
Don't forget the white collar crime!!!! I find it strange that very few indictments have come from all this real estate fraud!
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Old 08-13-2008, 01:02 AM
 
4 posts, read 7,761 times
Reputation: 12
We bought a house in CC in April and have it leased for one year already. We live out of state. The tenants went through a criminal and credit background check. Will be purchasing up to 8 more houses over the next 1-2 years. I don't see how you can go wrong at these prices: buy a duplex and rehab it for $100,000... insurance will run about $1400, taxes about $1,800 ... rent each side for $625 and you've got $11,800 positive cash flow ... try finding a corporate bond that will pay you 11.8% and possibly appreciate in value over time. Yeah!
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