With median list price increases of 34.56%, Realtor Magazine has named the Fort Myers-Cape Coral market as the top market nationally for real estate price increases for 12-month period ending September 2011.  Southwest Florida dominated the price increase list with Naples and Punta Gorda also in the top five.

Price increases have been driven by a number of factors including the rapid decline in the quantity of new foreclosure listings hitting the market. In the field we are seeing a significant number of clients who put off buying in the previous couple of years but are now jumping into the market with both feet.  The overwhelming majority of these buyers are purchasing a second home and a large percentage are cash buyers.

Clients are buying across all sectors with new construction being the most popular.  Many new communities are now building out the remaining homesites and it is currently possible to get a brand new home or condo at a price point competitive with a five or more year-old resale.

Capital improvements including a new entryway, course upgrade and clubhouse remodel are in the works or completed at the Forest Country Club in Fort Myers.  Originally developed in 1979, The Forest is one of the oldest clubs in the Fort Myers area.  It features ten distinct neighborhoods with mature landscaping not found at newer clubs.

This gated community offers 36-holes of championship golf and an extensive roster of other amenities.   Second homeowners, which make up approximately 70% of the community, appreciate the fact that optional memberships are available for golf, tennis, fitness and social.  This membership flexibility make the club very popular with snowbirds.

Located in South Fort Myers of US-41 between Gladiolus Drive and Alico Road, the Forest features single-family homes, villas  and condos in a spacious 650-acre setting.  Owners enjoy the scenic landscaping, mature fauna and 24-hour manned gatehouse.

If you are interested in exploring ownership options at this community, here is a resource for viewing active Forest Country Club real estate listings.

Canadians buyers have flocked to the Fort Myers area this winter in great numbers.  Our team has worked with more Canadian buyers this season than any in recent memory.  Our low property prices, coupled with the strong Canadian dollar and crummy winter weather have been the key drivers in encouraging Canadians to buy a second home in Fort Myers this winter.

A recent article by Reuters titled Housing Market Attracting Bargain-hunters cited a Bank of Montreal study that one in five Canadians would consider buying U.S. property. The Fort Myers area is attractive to Canadians due to our tropical climate.  With average annual temperatures in the low 70s, their is a high-degree of certainty that it will be warm when you come to visit your 2nd home in Fort Myers.  This big difference vs. other locations further north in Florida that do not have as warm winters as we have.

If you have considered buying a second home in Florida, here is a book available on Amazon that may be helpful to Canadian buyers:

See larger image South of 49: The Canadian Guide to Buying Residential Real Estate in the United States (Hardcover) By (author) Philip McKernan, Dan Sampson, Mike Cunning List Price: $34.95 USD New From: $19.20 In Stock Used from: $18.94 In Stock

In the real estate trenches, we are seeing a significant uptick in serious buyers this winter.  It appears to me that many seasonal visitors that have kicked the tires of the housing market over the past couple of years, are sensing that this winter may be the last chance to get a rock bottom housing deal.

If you are looking for a rock bottom deal, we still have a robust inventory of distressed housing assets here in Southwest Florida.  Here is a resource to view active Fort Myers area foreclosure listings.

While every state in the nation except Florida has had snow this year and the Northeast is having crummy weather today……we are sunny and expecting a high of 76°F today in Fort Myers.  Sure beats 10°F in Minneapolis, 16°F in Montreal or 23°F in Boston today.

Florida Today reports that Florida Realtors are excited about the lousy weather this winter in the Northeast and Midwest and anticipate that it could spur home sales in Florida.  I have to believe that there is some truth in this speculation as our phones are ringing and our inbox is chirping.

The majority of our inquiries are from pre-retirement baby-boomers from snow belt states in the Midwest, Northeast, Mid Atlantic and Canada.  Most are looking to buy a second home in Florida and to take advantage of our current distressed pricing.  Many have no concrete plans to move down full-time in the near-term, but want to jump in now before prices normalize.

If you are tired of shoveling snow, scraping the car windows and wearing gloves….here is a resource to start your search for a new Fort Myers area home.

RSW in Fort Myers has scored a major tourism coupe landing direct flights from Denmark cities of Copenhagen and Aalborg, Denmark’s fourth largest city.  European discount operator, Comefly selected RSW for its first Florida destination over East Coast locations.  Currently, RSW serves Dusseldorf, Montreal and Toronto with direct International flights.

While the Fort Myers area has traditionally been a major draw for Canadians, Germans and Brits, we are excited to welcome new Scandinavian visitors to our area.  These new visitors can enjoy our pristine Gulf of Mexico beaches, barrier islands including Sanibel and Captiva, championship golf courses and tropical weather.

Many seasonal visitors to Southwest Florida eventually decide to call this area home.  Here is a resource to get acquainted with the neighborhoods and and developments in the Fort Myers real estate market.

The Save Our Homes Amendment, which was passed in 1993, was put in place to limit changes in home valuations for full-time homesteaded residences.  The purpose of this amendment was protect Floridians from being taxed out of their homes as values increased over time.

This amendment did not protect part-time snowbirds from valuation increases and their properties adjusted in value every year with the market.  The effect of this was that snowbirds were paying significantly higher taxes for like properties even though they are part-time residents.

The Save Our Homes Amendment also limits downward reductions in home valuations to 3% annually for homesteaders.  Non-resident valuations have dropped with the market, but residents are capped, creating a scenario where the snowbirds are seeing huge reductions while full-time residents are not.  It is rather ironic that the designers of the Save Our Homes Amendment must have never envisioned a scenario where property values would drop as dramatically as they have over the past few years.

Hopefully the taxpayers of Florida will collectively move to repeal this unfair tax act and normalize the valuations of all Florida property.

One of the questions that many snowbirds ponder is whether or not to establish residency in Florida.  Boca Raton Attorney Allan Lipman offers a free online audio domicile guide that covers the benefits of establishing residency in Florida.  Lipman is licensed in both Florida and New York and his 10 part free audio guide provides numerous comparisons of the tax handling for both states.  A good listen for anyone pondering an investment in Florida real estate.