We often get asked, what will the bank take for that property…..will they accept an offer of 50% of the asking price? Unfortunately the answer is no, banks are not considering those type of low-ball offers.
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Morgan Stanley analyst Oliver Chang recently declared that 2012 will be “The Year of the Landlord.” Chang further elaborated that “Rents are rising, vacancies are falling, household formations are growing and rental supply is limited,” the Morgan Stanley report stated. “We believe the demand for rental properties will continue to grow.”
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Canadians, Granadians, Australians and Botswanians (maybe not but it rhymes!) and residents of the entire global community are targeting our very own Cape Coral as a place to invest in real estate. As covered by Wink News, Trulia recently reported that Cape Coral was the third most popular US city after Los Angles and New York for foreign investment. This is quite remarkable as Cape Coral and its 154,000 residents is dwarfed by New York and its population of around 8 million and LA with just under 4 million citizens.
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Investopedia reports on 10 reasons real estate could rebound in 2011. While the article generalizes about real estate trends on a national basis, several of these points are very relevant to the market in Southwest Florida.
[more] →Over the past year many investors have entered or are re-entering the Southwest Florida real estate market. Home prices beaten down by the extensive inventory of distressed property in our area has allowed investors to see positive ROI in some sectors.
The almost daily question that I get asked from out-of-region investors is what Southwest Florida real estate investment will provide the best return? While this is one of those questions that will often get a wide range of answers, there is no need to rub the crystal ball right now as one sector of our market really stands out for offering the best returns. The answer to the million dollar question is……Cape Coral single-family homes.
[more] →A new book, Exiles in Eden: Life Aong the Ruins of Florida’s Great Recession, offering an insiders view to the Florida housing crisis is hitting the shelves this week.
The Fort Myers area is prominently covered by author Paul Reyes including a look at a mostly abandoned, upscale gated community. A book about the housing bust would not be complete without an examination of Lehigh Acres, where the authors parents purchased a vacant lot in 1969 on the $10/month plan while honeymooning in Miami.
[more] →The latest report on the Lee County rental market released by RealFacts of Novato, CA detailed shifts in our rental market for 2Q10. Lee County apartment occupancy rates in 2Q10 climbed 4% to 90.8%, the fourth highest in the 12 major Florida markets. Lee County rents for the same period dropped 9.1% to an average of $762/month. This decline in rental rates was the highest in Florida during 2Q10. The Fort Myers-Cape Coral market now ranks 9/12 in average rental rates in the 12 major Florida metro markets.
[more] →Beyond the sunshine and warm weather, the tax benefits of a Florida residency can be substantial. Everyone probably knows that Florida does not have state income taxes, but it is generaly less known that Florida estate taxes are more favorable than many other states.
[more] →The latest report on the Lee County rental market released by RealFacts of Novato, CA detailed some significant shifts in our rental market for 4Q09.
[more] →Fort Myers MLS Map Search
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