The most expensive home to sell in Lee County, Florida during February 2011 was a Cape Coral single-family waterfront estate home located within the Harbour Preserve neighborhood of Cape Harbour.  This 6,690 SF is located at 5845 Armada Court, Cape Coral, FL and features 5 BR / 7 BA.  The home was on the market for 100 days.  The selling price was $2.625M / $392 SF, which was 80% of asking price.

Congratulation to selling Realtor Jim Peterson of Miloff Aubuchon Realty Group for closing the most expensive residential property in February 2011.

Honorable mention for 2nd most expensive Lee County residential property sold in February 2011 was a Fort Myers Beach single-family homes located directly on the Gulf of Mexico in the McPhie Park neighborhood.  This 4,164 SF home located at 5820 Estero Boulevard, Fort Myers Beach, FL features 5 BR / 4 BA.  This home was on the market for 1198 days.  The selling price was $2M / $480 SF, which was 154% of asking price.

Congratulations to selling Realtor Jeff G. Tyson of Sellstate Landmark Properties for closing this transaction.

In February 2011, there were seventeen residential transactions in Lee County with a selling price over $1M, up from seven in January, 11 in December 2010, five in November 2010 and seven in October 2010.  The Fort Myers luxury market was up considerably last month.

Here is a resource if you are interested in learning more about Fort Myers luxury homes that are currently listed for sale.

The community is connected by a 1/2 mile lighted boardwalk home to 251 slips.  Many friendships have formed, boat purchase decisions have been made, knowledge has been passed along and even a romance or two have sparked during a stroll along the boardwalk.

When you are not enjoying the waters of the Gulf, the gated Boardwalk Caper community has much to offer including four swimming pools, a fitness center, clubhouse, tennis, shuffeboard and basketball courts. Boardwalk Caper’s location just before the Fort Myers Beach Bridge also offers convenient access to the beach.

Housing options at Boardwalk Caper include condos, high-rise condos and town homes.  Currently, there are 18 homes for sale at Boardwalk Caper ranging in price from $175,000 to $599,000.  Here is a resource to view active Boardwalk Caper real estate listings.

Two of my favorite gulf access communities are not located on either of the two islands, San Carlos or Estero that Fort Myers Beach is best known for, but rather in the mainland section of Fort Myers Beach off San Carlos Boulevard south of Summerlin Road.  These two upscale communities of Siesta Isles and Palm Isles feature newer luxury homes on wide canals and are bordered by extensive natural preserves. Homes are currently for sale in Siesta Isles ranging in price from $475,000 to $888,000 and at Palm Isles from $479,000 to $1.35M.

The selling price was $1.545M / $857 SF.  Congratulations to selling Realtor Bob Jensen of Bluebell Real Estate for closing the most expensive residential property in October 2009.

Honorable mention for 2nd most expensive Lee County home sold in October was a single-family home located at 665 Matanzas Court, Fort Myers Beach.  This 2,228 SF bayfront home offers gulf access boating and features a 4 BR and 3 BA.

The selling price was $1.12M / $396 SF. Congratulations to Realtor Gerry Harris of Engel & Voelkers Cape Coral for closing this transaction.

With the Loonie at parity with the US Dollar and across the board price reductions, many Canadians are now considering an investment in Southwest Florida real estate.  The Canadian Press reports that the currency equality is very enticing but shouldn’t be the key driver in your decision to buy real estate in Florida.  Some of the drivers that should be considered include lifestyle goals and investment expectations.

An investment by a Canadian in Florida real estate is certainly a decision that should not be rushed into.  It can be most helpful to visit or rent in a community prior to making the decision to buy.  Our team is hearing from many Canadians who have previously taken this approach and are now considering a purchase primarily due to the significant price reductions on much of the real estate inventory in Southwest Florida.  Popular areas for Canadian buyers include Fort Myers, Fort Myers Beach and Estero.

These figures certainly jive with what our team has experienced in the distressed property trenches of Southwest Florida.  It can be challenging trying to convince an eager buyer that the aggresively priced short sale listing has a very low probability of closing.  We are experiencing far higher closing percentages with foreclosure listings.

Here is a free resource that is updated daily to view Southwest Florida foreclosures:

• Bonita Springs foreclosures
• Cape Coral foreclosures
• Estero foreclosures
• Fort Myers foreclosures
• Fort Myers Beach foreclosures
• Pine Island foreclosures

If you do decide to move forward and make an offer on a short sale, please read this blog post about the questions that you need answered prior to submitting the short sale offer.