Nice Areas (Cape Coral, Naples, Estero: appointed, real estate market, foreclosure)

[lee]

Hi Guys,

I hope that you may be able to help us, we will be moving to Florida in 12 to 18 months (once our green cards are sorted out).

Initially we intended to relocate to Naples as we vacation there every year and love the area, but lately we have noticed what good value the real estate in C.C. is due to the amount of forclosures on the market.

Although we have never visited C.C. alot of people I have spoken to say that it's a really nice area.

We are a married couple (52 & 50) and we wondered if anyone could recommend areas or Zip Codes that we should concentrate our search in.

Our budget is up to $250k and we would like to get 3 to 4 bedrooms and a pool, is this possible in a good area?

I know that some of the properties listed look too good to be true, is this down to certain areas or just the current worldwide financial crisis?

One last thing, does anyone have any idea what might happen to the property market in the next 18 months.

Many Thanks

Lee

[LewLew]

I'm going to take a stab at this. At the 250K level, I would not recommend Cape Coral. I think eventually it will come back, but lately it's on the news for crime in North Cape and West Cape quite a bit. Naples is going to be VERY had to find a nice home at that price with a pool and 3-4 bedrooms. Maybe a 1940-50 ranch with 2 beds, but not bigger.

If I were you I'd look in 33919 zip code, and in and near Tanglewood, Whiskey Creek, Venetian Village, Calusa Palms. They tend to have pool homes that size, some redone, for that range. South Ft Myers, just north of Estero (Corkscrew) is also a decent place to look. As well as Estero. You will find a little newer place, and perhaps all that with a pool. There are 2 homes in our neighborhood with pools around 300K asking.

Remember if something looks way too good to be true, it probably is. (especially in real estate these days)

Best of luck to you.

[lee]

Thanks Lew Lew,

Just the info we're looking for.

I realize that in Naples we would have to double our budget thats why C.C. seemed so appealing.

Thanks again

Lee

[Angelala]

We bought a house in Cape Coral a year ago and love it! We live in the SE area. For that amount you can buy gulf access. Go to realtor.com and look for the SE properties.

[lee]

Hi Angelala,

Thanks for your help, sounds like you have got yourself a lovely place to live.

I'm glad to see a positive response for C.C. as we were getting really good vibes for the town.

Thanks again

Lee

[FLBob]

Lee, If you love Naples then I think you may be disappointed with much of Cape Coral. I lived in Naples for 8 years and loved it. I loved the ease of beach access, restaurants, and the near botanical gardens way of landscaping.

To me the issue with CC is the distance to beaches, with FT Myers beach being the closest.
Many people I know that live in Cape Coral do love it. But I think SE CC would be the best choice.
Estero would also be a good choice.

Pricing is really coming back to the prices you would see back in 2000 -2002 time frame. I think it will be a long time before we see another speculator lead real estate market. When you look at the price of what has sold you will note that there are "too good to be true" property sales.

If I could give you one bit of advice - pick location first then find the best property you can find in your budget.

While many avoid the older home, remember that when people had everywhere to choice from, the best locations sold first.

[lee]

Thanks FLBob,

I agree with your sentiment regarding the location of the older homes the only problem that I have is that my wife has fallen for the beautiful layouts of the newer properties.

We will definitely have to put together an itinery with positive and negative points and try to narrow the field.

Thanks FLBob

Lee

[FLBob]

Lee, I and many others have the same "problem" as your wife. I go over to visit friends in a new home with a great room design with a big kitchen and large modern baths and I suffer from new house envy. Then I go home and walk to the beach and get over it.

[Big House]

Lee,
There are many beautiful areas in SWFL, and you are correct that some of the deals are too good to be true. Some of them are, because of the foreclosure many homes are selling at or below cost. You should take your time, and explore some of the other areas beside just CC for that reason. I know with the number of places available you will find just what you're looking for.

Good Luck!

[lee]

Hi Big House

I'm sure we will find our ideal home eventually but it is so difficult narrowing down areas.

Work will obviously be a factor as I hope to one day to start my own business in the painting field as that is what I do in England, I specialize in faux finishes, venetian plaster,lincrusta etc which appeal to the high end market ,that's why Naples seemed a good prospect even though real estate is more expensive.

I don't want you to think I'm some kind of painting snob as I carry out all aspects of the painting trade
it's just a bit more satisfying doing the more intracate work but if someone's willing to pay me I will paint anything as long as it stands still!!!

Many Thanks

Lee