Fort Myers was cited in a recent CNN/Money article as one of seven US markets with half-priced McMansions. The Fort Myers area was heavily impacted by the housing market downturn and it is not uncommon to find homes selling for half their peak bubble value.
The home featured in the article is located in Whiskey Creek at 5534 Cognac Drive Fort Myers. Per the Lee County Tax Collector website, this home reached its peak appraised value in 2007 at $591,000 and is now listed as a short sale for $249,900. This particular home has a significant amount of damage and is only available for a cash buyer.
Many of the best deals right now and where you are most likely to find a half-priced home are either short sales or foreclosures. If you are interested in finding a half-priced deal in the Fort Myers area, here is a resource to view active Fort Myers area foreclosure listings and Fort Myers short sale listings. Our team is quite experienced at dealing with distressed property and can help you navigate through both foreclosure and short sale transactions.