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Posts from the ‘Fort Myers FL Real Estate’ Category

Birding on Sanibel Island

Ran across this great article in the Mpls Star Trib about birding on Sanibel Island:

Forget shelling and beachcombing, shopping and sunset-watching, bicycling and boating, museum-hopping and dining al fresco in the humid Florida night. I did those things, and they were great. But by Day Three, all I really wanted to do was see a big pink bird.

http://www.startribune.com/lifestyle/travel/189278761.html?refer=y

Wall Street Flees NY for Tax-Free Florida

From the New York Post today (Jan 28 2013):

“An increasing number of financial firms, especially private equity and hedge funds, are fed up with New York’s sky-high city and state tax rates and are relocating to the business-friendly climate in Florida… Florida is a state of choice,” said Thalius Hecksher, global development chief for Apex Fund Services… It’s organically grown. There’s no need to drag people down here. It’s a zero-income-tax jurisdiction.” There are other perks, too — like the fact that it was 77 degrees and sunny there yesterday. “You weigh all of the benefits for being here to those in New York, and they outweigh them every time,” said Evan Rapoport, CEO of HedgeCo.net.”

We say come on down! The water is warm, the sun shines every day, and Southwest Florida is open for business.

Southwest FL Real Estate Market Getting Better – Update Aug 2012

Lee County Real Estate Market Improves Again August 2012Faster Turnaround, Inventory Reduces, Sales Tick Upward

“The fact that home prices are now going up in that market (Lee County) makes people feel more encouraged about buying. They don’t want to get into a market that’s going down.”

“Cochran, a retiree from Wisconsin who’d lived in the house 14 years, sold her Gateway (Fort Myers) home in a week for $330,000 — $25,000 more than the appraised value.”

Read the full article here.

Investors Business Daily: Luxury Home Buyers Turns Up

“Sales of all homes in Southwest Florida priced $1 million to $2 million rose 13% for the 12 months ended in April, says the Naples Area Board of Realtors. Luxury homes and condos on or near the beach are the hot sellers in Naples, which at the high end is a second-home market.”

Read the full IBD Article here: Investors Business Daily, Luxury Home Buyers .

CNN Money: Home Buying Won’t Get Much Cheaper

CNN Reports Monday 05/07/12:   “With home prices down 34% nationally since 2006 and mortgage rates at historic lows, homes have never been more affordable — but it won’t stay this way for much longer. One major factor that will drive the trend is the cooling of the foreclosure crisis. Buying a home may never get any cheaper than this. Several housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market.”

Related Post: Cape Coral – Fort Myers Leads the Nation in Home Sales with 14% Rise in Prices

Read the full CNN Article Here.

Browse current Southwest Florida Real Estate Listings here.

Cape Coral – Fort Myers Homes Rise 14%

Cape Coral Real Estate and Fort Myers Real Estate Top the Nation in Gains

As Cape Coral – Fort Myers goes, so goes the real estate market? Southwest Florida, in particular the twin cities of Cape Coral and Fort Myers home markets, was the first to boom in the early 2000’s, the first to bust in the mid 2000’s and now in the twenty-teens the first to climb back into a recovering, healthy market. We’ve said it a thousand times and will say it again: all real estate is local. What is happening in Las Vegas, Seattle, or Destin is far different from the price points, inventory, and selling trends here in Southwest Florida.

Prices are still ridiculously cheap compared to the boom times the first part of this century, but there are no more declines and there are far fewer distressed properties on the market. Inventory is dramatically reduced, home builders are buying up land and building again, and the commercial market in Cape Coral is seeing gains as well. All of this is leading to incremental price increases indicative of a healthy, growing market (but not booming, thankfully) that is win-win for both buyer and seller.

This graph that we posted in 2006 has born true: at the time, we could not predict when the rational growth would emerge, but now it’s crystal clear that we are in that rational growth phase.

Here are the best, and worst, performing cities as reported by the AP and Trulia. Six out of the top ten are in Florida and none of the bottom ten are in Florida:

  1. Cape Coral-Fort Myers, Fla.: 14.8%
  2. Miami: 14.1%
  3. Phoenix: 13.2%
  4. Pittsburgh: 9.2%
  5. Little Rock, Ark.: 6.7%
  6. Orlando: 6.3%
  7. North Port-Bradenton-Sarasota, Fla.: 6.2%
  8. Palm Bay-Melbourne-Titusville, Fla.: 6.1%
  9. West Palm Beach, Fla.: 5.8%
  10. Warren-Troy-Farmington Hills, Mich.: 5.6%

- – – – – – – – – – – – – – – -

  1. Tacoma, Wash.: -11.9%
  2. Seattle: -9.1%
  3. Sacramento, Calif.: -8.3%
  4. Las Vegas: -7.7%
  5. Wilmington, Del.: -7.7%
  6. Columbia, S.C.: -7.3%
  7. Cleveland: -6.9%
  8. Fresno, Calif.: -6.8%
  9. Milwaukee: -6.7%
  10. Allentown, Pa.: -6.7%

Fort Myers is #3 Destination on the Rise – From TripAdvisor

TripAdvisor ranks Fort Myers the number 3 destination on the rise for 2012 citing our sugar sand beaches, cultural events, sunshine, and much more.

View the TripAdvisor blog here.

Upscale Cape Coral Tarpon Point Resort and Marina Sold

The luxury resort in Cape Coral, Tarpon Point Resort and Marina, was sold to a luxury hotel firm based in Arkansas last week. The new owners, Freeman & Hasselwander Resort Properties LLC, are keeping things pretty much status quo, with Sunstream staying on as the resort managers.

The sale included the commercial properties including the Nauti Mermaid Grill and Bar, the Marker 92 gourmet restaurant, the shops along the marina, and the marina itself.

Cape Coral – Fort Myers on 2 National Trend Lists

Cape Coral real estate and Fort Myers real estate continue to buck national trends

Cape Coral and Fort Myers were highlighted in two national studies – one from Realtor.com and one from Trulia – both suggest that our marked is in rebound if not already past that point.

Realtor.com’s placed Cape Coral and Fort Myers third in their list, citing:.

Fort MyersCape Coral: Median prices in Fort Myers-Cape Coral have increased year-over-year, foreclosures are down, inventory is lower and foreign buyers are attracted to the area’s real estate prices.

Trulia placed Cape Coral real estate and Fort Myers real estate as fifth in its list of the most searched listings.

From Florida Association of Realtors, Realtor.com, and Trulia.com.

10 Cities Where List Prices Are Rising the Most | Realtor Magazine

10 Cities Where List Prices Are Rising the Most

Daily Real Estate News |

Which cities are seeing median list prices increase the most? Nationally, median list prices have risen 1.60 percent to $190,000, according to year-over-year listing data from September 2011 by Realtor.com, based on 146 markets.

Yet, in some cities, median list prices in that time frame have risen more than 20 percent. Florida cities, in particular, are continuing to see some of the largest rebounds in list prices.

Here are the 10 cities that have seen the largest percentage increases in median list prices based on year-over-year data from September:

1. Fort Myers-Cape Coral, Fla.

Year-over-year median list price increase: 34.46%

Median list price: $215,000

2. Miami, Fla.

Year-over-year median list price increase: 25.63%

Median list price: $250,000 Read more

Casino at the Forum in Fort Myers?

A $1 billion gaming resort with 1,500 hotel rooms is being proposed by a business group for The Forum at Colonial Boulevard and Interstate 75 in Fort Myers.

Let’s do it!

View the article at the News-Press.

Prices Rising in Florida – Year over Year Stats

ORLANDO, Fla. – Sept. 26, 2011

Florida cities have had the largest year-over-year increases in average list prices, according to the latest real estate data from Realtor.com. Based on August data of 2.2 million listings in 146 markets, Florida cities make up nine of the top 10 places for highest year-over-year list price spikes.

Nationwide, the average list price is $320,325, up 2.36 percent year-over-year.

Here are the top 15 cities boasting the highest percentage of year-over-year increases in average list prices.

1. Miami
Average list price: $640,332
Year-over-year increase: 27.4%

2. Fort Myers-Cape Coral, Fla.
Average list price: $443,570
Year-over-year increase: 26.27%

3. Central-Fla. rural service area
Average list price: $405,809
Year-over-year increase: 19.41%

4. Punta Gorda, Fla.
Average list price: $267,066
Year-over-year increase: 16.37%

Read more

Home Inventory Shrinks – Gulf Coast Business Review

Housing market could be on track to deliver 5% to 6% annual price increases if current demand continues.

Michael Timmerman has been making prescient calls on the residential real estate market in Southwest Florida for 17 years.

As senior associate in the Naples office of economic consulting firm Fishkind & Associates, Timmerman accurately forecast the real estate downturn in late 2006. For example, he warned shopping-center developers early that speculative new homes built during the boom didn’t necessarily translate to new residents. Now they’re asking his firm to develop economic models to measure population growth and retail demand.

At an Urban Land Institute of Southwest Florida presentation recently, Timmerman said the housing market could be on track to deliver 5% to 6% annual price increases if current demand continues.

Timmerman says he’s encouraged by the fact that inventory has been slashed in half to about nine months. “That’s why our prices have been stabilizing,” he says.

Search the MLS for Southwest Florida  homes and condos for sale here.

via Home Inventory Shrinks || Gulf Coast Business Review | Tampa Bay, Bradenton, Sarasota, Fort Myers, Naples.

Bankrate ranks Cape Coral-Fort Myers #1 Real Estate Market

 

View Bankrate article here.

View Cape Coral homes for sale here.
View Fort Myers homes for sale here.
View Fort Myers Beach homes for sale here.

Search all Southwest FL homes and condos for sale.

Tarpon Point Landings – Sold… Congratulations Mike and Kim!

Congratulations to Mike and Kim on their purchase of this waterfront condo in Cape Coral FL

After a long search for just the perfect spot, Mike and Kim of Boston, MA have found their dream home in Tarpon Landings, a premier resort community in Cape Coral, FL. And their timing was excellent to leverage the market and acquire a 2900+ sqft waterfront condo at a bargain price.

Tarpon Landings is a waterfront community along the Caloosahatchee River in Cape Coral FL The resort offers 4 star dining, spa, boutique shopping, a marina, fitness and many more amenities. Once these Tarpon condominiums were released for sale, they began selling fast, at  a clip of nearly 5 per week. Fortunately there are many good units still available! All units have a view over the big water extending out to Sanibel and Fort Myers. All units also have at least two lanais – one in front and one for the guest quarters at the other end.

Newly built, the Tarpon Condos have open floor plans and wonderful appointed features.

Lee real estate experts say industry makes comeback

Slowly but surely, Southwest Florida’s home-building industry is coming back to life, experts told a sold-out crowd at the Lee Building Industry Association’s Market Trends 2011 symposium Wednesday.

“Oh, the smell of sawdust,” said Randy Thibaut, president and CEO of Land Solutions – a real estate company that specializes in handling sales of large amounts of undeveloped land.

After a tumultuous decade, the residential market is getting back to something approaching normalcy, he told the crowd of about 220 at Hodges University in Fort Myers.

Thibaut noted that in 2000, there were about 10,000 permits for single-family homes in Lee, Charlotte and Collier counties. That number quadrupled to 40,000 by 2005 at the height of the real estate boom. In 2011, the area’s on track for 3,000 to 3,500 permits.

He drew his most enthusiastic applause when he pointed to BB&T bank senior vice president and area executive Bob Bassett and said, “He’s here to loan money today.”

Bassett said things are looking up in Southwest Florida but that events on the national stage have given pause to some potential borrowers.

He was referring to the fractious debate in Congress over the national debt ceiling, followed by a see-sawing stock market and the Federal Reserve’s uncharacteristically direct assurance that interest rates will stay low for another two years.

“If I go back prior to two weeks ago we had a modest uptick in our demand for loans, our pipeline, and it was the cautious optimism out there,” Bassett said. “But the events of the past week – I think that creates a little uncertainty and some people who were ready to do projects may wait on the sidelines for a bit longer.”

But in the longer term, the signs are there that a recovery is under way in the local industry, said Fort Myers-based Darin McMurray, regional vice president of Lennar Homes, a large national home builder.

via Lee real estate experts say industry makes comeback | The News-Press | news-press.com.

Closed! Congrats to Sam and Joy on Their Vacation Condo in Fort Myers

We extend a hearty thank you and congratulations to Sam and Joy of London, England on the closing of their vacation condo in Fort Myers. Overlooking the beautiful Caloosahatchee River with expansive views and gorgeous sunsets – their paradise awaits. Fun for everyone in the family with all the amenities here – golf, tennis, marina, clubhouse, walking trails… and so much more.

Gulf Harbour Condo on the River in Fort Myers FL
Gulf Harbour Condo, Fort Myers FL, River Views
Gulf Harbour, Fort Myers Fl, River Front Vacation Condo

Median Home Price Up 11% – Cape Coral – Fort Myers Real Estate

Pent Up Demand – Metrostudy Predicts Housing Shortage

Metrostudy: Housing shortage on the horizon?

WASHINGTON – April 1, 2011 – Mike Castleman, founder and CEO of Metrostudy, which tracks real-time data of the country’s inventory of new homes, says a housing shortage is looming that will soon create a huge surge in demand for new homes. As such, now is the time to buy, he says.

In the 41 cities Metrostudy covers, 78,000 houses are either vacant and for sale, or under construction – that is less than a quarter of the new homes that fell in that category during the housing boom in 2006 and way below the level of a decade ago.

“If we had anything like normal levels of buying, those houses would sell in 2½ months,” says Castleman. “We’d see an incredible shortage. And that’s where we’re heading.”

The historic drop in new construction mixed with the decline in housing prices is laying the foundation for a dramatic recovery in residential real estate, Castleman told CNN. Castleman expects homeowners soon will start returning, which will drive up prices in many markets later this year.

While demand remains low for new construction, he expects that to change. He foresees the recovery following a similar path as previous ones: A severe housing shortage will drive a big increase in demand.

“We’ll get a big surge in demand and the drywall companies will take a long time to ramp up, and it will take years to get new lots approved,” he predicts. “Buyers will show up looking for a house in a subdivision, and all the houses will be sold. The builders will tell them it will take six months to deliver a house.” But they’ll want the house so bad that they’ll “bid the prices up.”

Source: “Real estate: It’s time to buy again,” CNN (March 28, 2011)

© Copyright 2011 INFORMATION, INC. Bethesda, MD (301) 215-4688

SOLD! Cape Coral Pool Home – Direct Access

Jim and Julie of Michigan will someday retire to Cape Coral FL in this beautiful Gulf Access Pool Home. And, we welcome them as our new neighbors! We Congratule the sellers, Bob and Pat, and the buyers on this win-win for all. We will terribly miss Bob and Pat as our neighbors, but they will still be “in the hood” in a marina community nearby, so we will survive.

Coming soon, Jim and Julie will be offering this vacation home for seasonal rental. More details on that later!

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