Lee County Real Estate Market is Hot, Hot, Hot!

Lee County Florida LandHousing indicators in Lee County Florida including Cape Coral Land purchases and nationally look good for the most part as does the overall economy, according to experts.  In Lee County, home prices are going up and stabilizing nearly across the board and in some cases have surpassed peak 2005 levels.

A lot of that increase in value has to do with where a property is located.  Neighborhoods broken down by ZIP codes seem to make a lot more sense than when it’s broken down by price range.  It’s about location, not price range, it’s how close you are to the beach, which really drives your value. This rings true also when purchasing investment real estate.

Condos haven’t seen as large a jump in price as single- family homes, but there are a number of reasons for that.  There have been financing challenges in the condo market including foreclosures and unpaid fees and that may have kept that condo market depressed over the past 12-24 months.  As we see home prices stabilize, the condo market will start to grow.

Statewide, the housing market has rebounded nicely from recession lows and economic indicators, which are tied closely to the real estate market, look positive, particularly for the wealthy.  There is a very close correlation, between million-dollar-plus home sales in Florida and the Dow (Dow Jones Industrial Average), so it’s kind of an indicator or where home sales are going to do.

In addition, transportation and infrastructure investments in Southwest Florida could help spur economic development, leading to a stronger local economy and higher home sale prices.

Nationally, the overall economic indicators look good, but the housing market has a few weak spots.  Wage stagnation, the unavailability of credit for subprime borrowers and a lack of lower-income housing are depressing the market.

A bright spot for Florida is the region’s favorable location and constant population growth.  Population growth is Florida’s saving grace.  People just want to be here and that’s what’s driving the real estate market in the region.

To learn more about the current state of the Lee County real estate market, contact a member of the 9 Core Realty team at (239) 333-2221.

 

 

 

Popular Rotonda West- The 9 Core Realty Featured Lot of the Week

33 Kingfisher Drive Rotonda West, FL 33946The popular Rotonda West development in SWFL, is the site of this week’s 9 Core Realty Featured Lot of the Week!  The property is located at 33 Kingfisher Drive Rotonda West, FL 33946 is listed at only $4,500.

Rotonda West contains 8,000 home sites with over 5,000 homes completed and is experiencing rapid growth and features the hottest Florida land sales.  Residents are predominantly full-time homeowners and their families, as well as tenants and those who winter in the community.  Many investors have found common ground in the city, building up portfolios through many great deals.

Thirty miles of picturesque canals, lakes and ponds wind through the community and offer fishing and boating opportunities for its residents.  Many exotic and beautiful birds call Rotonda West home, as it is a designated Bird Sanctuary.  Nearby recreation facilities, beaches, theaters, sporting events, and fine restaurants are keep residents of Rotonda West busy!

To learn more about this priced to sell 9 Core Realty Featured Lot of the Week and how to purchase land, contact a member of the 9 Core Realty team at (239) 333-2221.

SWFL- A Popular Choice Among International Real Estate Investors

SWFL Home

Naples was the 10th most popular city in April for searches by international real estate for investors, according to a survey recently released by Realtor.com International. With a population of 20,000, the city is David vs. Goliath on the list, which except for Naples consists of large metro areas: No. 1 is New York, followed by Los Angeles, Miami, Orlando and Las Vegas.

Among Canadians, Naples is even higher on the wish list: fifth, after Fort Lauderdale, Las Vegas, Los Angeles and Miami. Naples and the rest of Southwest Florida have always been favored destinations for Canadians who want to escape that country’s brutal winters. Naples’ high prices and elite reputation may play a role in the popularity of that city in particular.

Among foreigners who actually buy Florida land investments and homes , Canadians are by far the largest group: 8 percent of Lee County’s properties sold each year are bought by foreigners – three-quarters of them Canadian. In Collier, of the 6 percent of homes foreign owned, Canadians make up two-thirds.

Canada’s the only country that has Naples in its top five, but Miami is on most of the other countries surveyed by Realtor.com. That’s especially true of South American and Caribbean buyers. With volatile economies in their homelands, South Florida investment real estate is considered a secure place to invest one’s money.

To learn more about the SWFL real estate scene or to view any of our SWFL land investments, contact a member of the 9 Core Realty Team at (239) 333-2221.

Port Charlotte-Just Listed- The 9 Core Realty Featured Lot of the Week

1112 WELDON TER PORT CHARLOTTE FL 33953

A perfect Port Charlotte land lot with tons of room is this week’s 9 Core Realty Featured Lot of the Week. Just listed, this lot is located at 1112 Weldon Terrace in sunny Port Charlotte, FL 33953. This rare double lot, with plenty of space is listed for $13,900.

The zone on the Gulf of Mexico from Venice to Port Charlotte is world famous for its fishing, beaches and beautiful climate. Now it is also one of the best places in the US to find profitable land and waterfront property investment opportunities. The real estate market meltdown is over and land prices have started to rise quickly after reaching bargain levels across the board, usually down 60% to 90% since August 2005. Port Charlotte land prices are moving up and home inventories very low, at seller’s market levels.

To learn more about the 9 Core Realty Featured Lot of the Week, contact an expert member of the 9 Core Realty team at (239) 333-2221.