Wow what a surprise to see an article about the Gator Circle neighborhood of Cape Coral in the News-Press this morning. Gator Circle was Cape Coral’s poster child neighborhood for the real estate boom and subsequent bust.
During the real estate boom, I was truly amazed at all the entry-level spec homes that were under construction in this neighborhood by the likes of First Homes and Adams Homes. Investors were gobbling up Gator Circle starter homes like there was no tomorrow.
The real estate market in the greater Fort Myers area has been dominated by foreclosure and short sale activity. This REO activity has driven significant price declines in Southwest Florida real estate. In the third quarter of 2009, home prices in the Fort Myers-Cape Coral area dropped on average 40%. […]
Local builder fastest growing in country First Home Builders, headquartered in Cape Coral, was named by Builder Magazine as the fastest growing private builder in the country for the second consecutive year. Evidence of First Home’s rapid ascent is evident in a drive around Gator Circle in Northeast Cape Coral[…]
Developer to demo 40 new homes A plan is now in place to save the Coral Lakes project in Northeast Cape Coral that was shutdown last month by the City of Cape Coral. Developer Transeastern Homes will demolish about 40 newly built homes to fix the soil problems at the[…]