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.

 

 

 

Newly listed NW Cape Plot: The Gratia Group Featured Lot of the Week

55 wilmingtonCape Coral land for sale is the Gratia Group Featured Lot of the Week. This newly listed lot is located at 55 Wilmington Parkway in sunny Cape Coral, FL 33993. A highly desired freshwater canal lot located in the Northwest Region of SWFL’s largest city is a ROI producing investment listed at only $12,000.

Cape Coral is experiencing a lot of appreciation in terms of prices in the market. As far as existing homes go, inventory is a little low. Realtors of Cape Coral lots have about a three to four month supply, which is great news for sellers because obviously they have a little more equity. They can turn around and sell. Land sales firms in Cape Coral are also seeing lessening inventories. The city has become a hot spot for investors from the north as well as foreign investors, making available lots for sale harder to find! Cape Coral is also seeing a lot of people who want to retire in the area.

Real estate always has healthy economy rebound and many experts don’t think it’s going to change. Cape Coral land is going to continue to see the prices increase. The area is still going to continue to see people coming and retiring and moving, and that creates markets in and of itself! To buy into the hottest area of Florida and get a great deal on property, Cape Coral land experts, Gratia Group, are waiting to help! Give us a call at (239) 333-2221 today!

Foreclosure Hangover in SWFL? Study Says “Yes”

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Though both the rate and number of foreclosure filings in Southwest Florida have dropped dramatically since the recession, a recent report shows the the market of property Cape Coral still suffers its aftereffects.

While the year-end report by California-based RealtyTrac showed both Naples-Marco Island and Cape Coral-Fort Myers had improving metrics since the foreclosure crisis reached its regional peak in 2009, neither area is bouncing back as quite as quickly as the country as a whole, though their performance outpaces the state average.

The report showed that in the Naples-Marco Island metropolitan statistical area, the number of foreclosure filings fell to 1.06 percent of all housing units, or 2,092 homes, in 2014. In 2009, 6.38 percent of all housing units, or 12,251 homes, were in some stage of foreclosure.

While foreclosures usually are found in the lower end of the market, currently they’re found in all price points. But because the percentage of homes in foreclosure is much smaller than it was during the recession, the banks and other institutions that own them can command market prices.

In Cape Coral-Fort Myers, 1.72 percent of all homes (including lots and land for sale), or 6,393 units, were in foreclosure in 2014. Five years earlier, 11.87 percent of all housing units, or 42,734 homes, had foreclosure filings. While the percentage of homes in foreclosure is relatively small, both Naples-Marco Island and Cape Coral-Fort Myers have a greater percentage in foreclosure than the country as a whole.

Nationally, only .85 percent of all housing units, or about 1.1 million homes, had foreclosure filings last year. That’s compared with 2.21 percent of all housing units, representing roughly 2.8 million homes, in 2009. Looked at another way, one in 118 housing units in the United States was in foreclosure last year, RealtyTrac said. By comparison, Southwest Florida fared worse. Out of 212 metro areas the company tracks nationwide, Cape Coral-Fort Myers ranked 15th, with one out of 58 housing units in foreclosure.

That’s because banks, which had been holding out for higher home prices before selling the homes they had repossessed, are finally clearing out their inventories. Naples-Marco Island saw one in 94 units in foreclosure, and was 49th on the list of metro areas nationwide. Naples’ numbers are lower because there was never as much backlog of homes as there was in Cape Coral-Fort Myers.

While both metro areas ranked relatively high nationally in terms of foreclosure rates, they ranked low compared to other places in the state. Naples-Marco Island had the lowest foreclosure rate of all the metro areas listed in Florida. But Florida tops all other states in terms of foreclosure rates, with one out of every 44 housing units in foreclosure, or 206,247 homes. That’s 2.3 percent of the roughly 9 million housing units in the state. In 2009, Florida had 516,711 foreclosure filings, representing 5.93 percent of the housing stock.

While overall, foreclosures still haven’t reached historically normal levels, the overall picture is improving. Florida’s foreclosure filings were down by 24 percent in 2014 from 2013.

Nationally, they dropped 18 percent. Over the same period, Naples-Marco Island’s filings fell 44 percent and Cape Coral-Fort Myers dropped 20 percent. The shrinking numbers are signs that rapidly rising home prices are making it easier for some owners to avoid foreclosure.

To learn more about the current state of real estate in the SWFL region, contact an expert member of the Gratia Group team at (239) 333-2221.

Gratia Group Featured Lot of Week- Lucrative Plot for Investment or Home Site

2417 NE 19th AveThis week Gratia Group Real Estate is proud to release a newly Featured Lot of the Week that is sure to be a hit with investors and those looking for home sites alike.  Located at 2417 NE 19th Ave. in sunny Cape Coral Florida, this lot is a lucrative find and listed at only $12,000, a steal for the very popular northeast region of the largest city in Southwest Florida.  This mostly cleared Cape Coral land lot will make the perfect addition to any investment portfolio or a great location to build your Florida dream home.

Come invest in one of the hottest areas of Florida, Lee County.  The region is best known for world-class fishing, beaches and a warm sunny tropical lifestyle.  Cape Coral is a large family oriented community just minutes away from Fort Myers that offers beautiful parks and a wonderful school system.

To learn more about the Gratia Group Featured Lot of the Week contact a member of the Gratia Group Land Sales Team at (239) 333-2221.

NW Cape Coral Paradise- The Gratia Group Featured Lot of the Week

4119 NW 19TH Ter Cape Coral 33993

Gratia Group, Florida land sales expert has released a new Featured Lot of the Week.  Listed for only $19,900, the Featured Lot of the Week would be a great addition to any investment portfolio or the perfect lot to use for a Florida dream home site.  Located at 4119 NW 19th Terrace in sunny Cape Coral, Fl (33993) this lot is located in a quiet neighborhood with many available lots for sale.

Investors have found great success in Cape Coral, particularly the northern section of the largest city in Southwest Florida.  A hot spot for boaters, golfers, fishing enthusiasts and those that love the natural beauty of South Florida, Cape Coral is home to a large population of foreign investors.  Don’t miss out on owning a piece of paradise!

Contact Gratia Group today to find out about these ROI producing Cape Coral lots or others in our land catalog by calling a member of the expert land team at (239) 333-2221.

NW Cape Coral Investment Land or Home Site- The Gratia Group Featured Lot of the Week

3238 NW 41st Ave 33993SWFL land expert, Gratia Group’s new Featured Lot of the Week appeals to both those seeking the perfect home site to build your Florida dream home and investors looking to cash in on the lucrative Cape Coral land scene.  The featured lot is located in the popular Northwest section of Cape Coral at 3238 NW 41st Ave, 33993.  This lot is the perfect addition to any investment portfolio and is listed for only $12,000.

Renowned Gulf Coast beaches, verdant golf courses and family attractions like the popular Sun Splash Waterpark make Cape Coral an appealing place to call home.  Located near Fort Myers and within sight of the glimmering Gulf of Mexico, Cape Coral is a vibrant and friendly community with all they beauty that you can expect from SWFL.  With more than 400 miles of canals, boating, fishing and water sports are a significant enhancement to the quality of life.  And don’t forget the golf courses, tennis courts, athletic parks and nature preserves.

To learn more about the Gratia Group Featured lot of the Week of any of our beautiful Florida land listings, contact a member of the Gratia Group team at (239) 333-2221.

SWFL Land and Home Sales See Big Jump

Blog PhotoThe median price of an existing single-family home in Lee and Collier counties increased sharply in October compared to a year earlier along with Cape Coral land prices.  In Lee County, the median rose 17.3 percent from $157,000 to $184,175, according to statistics released by the Realtors Association of Greater Fort Myers and the Beach.

Collier County’s median increased 20.1 percent from $279,000 to $335,000, according to the Naples Area Board of Realtors.

Area real estate experts feel that even with such a robust surge in Florida land sales prices, there isn’t the danger of a bubble similar to the last boom’s over-heated market in 2005.  It would take annualized increases of 20 percent for five years to get us up into the territory where the region was (at the peak of the boom and currently the area isn’t even close to a danger bubble.

The rate of increase in prices is actually slowing but the market will stay strong this winter with omens such as six feet of snow in Buffalo, N.Y.   Experts feel the region is poised to have a very, very good season.  To learn more about the SWFL real estate market contact a member of the Gratia Group team at (239) 333-2221.