As U.S. housing recovers, Canadians are playing a big role in buying Fort Myers real estate. Market watchers say bargain-hunting Canadians are eyeing potential investment or getaway properties in Southwest Florida as home prices in the U.S. are showing fresh signs of recovery.
During the foreclosure crisis beginning in 2007 that hit many areas hard across the nation, millions of Americans found themselves owing more on their homes than their homes were worth. Six years later, 2013 has been a good year, especially in Fort Myers where home prices are beginning to climb, inventory has dropped and sales are rising.
Canadian buyers have been active buyers in Florida, especially the Fort Myers area. Canadians are often making all-cash offers, giving them a huge advantage over Americans who sometimes face difficulty getting financing. There is strong interest from Canadians for both investment and vacation properties in Florida, a favorite destination for Canadians seeking sunny weather. The best housing deals are found on the west coast of Florida, including Fort Myers, which is cheaper than Florida’s east coast.
Nine percent of Canadians who own real estate in Florida have property in the Fort Myers region, the 4th highest number in the state. More than 500,000 Canadians own property in Florida; thousands more rent. Canadians are the largest group of foreigners who purchase homes in the U.S. Most Canadians who come are “snowbirds,” escaping the cold Canadian winters for the warmer climate in Florida.
Our team has agents that specialize in helping Canadians find the best Fort Myers real estate investment. We are here to help in an information-rich, low-pressure environment.