The Real Estate Market in Southwest Florida

Almost all Media are reporting about the “bad” housing Market, even
here in Southwest Florida. But is the Market really that bad? Florida was and is always a great place to live, work, have a second home, go on vacation or retire. The Job Market is healthy and a lot of companies are investing and opening new businesses in the Metro Area Cape
Coral/Fort Myers.
In my opinion the current Market is great, it is great for every home
buyer or investor. The prices are low and very often still negotiable,
there are a lot of properties to choose from. Buyers and Investors are
able to find a property that comes very close to their Real Estate Needs.
Interest Rates are still affordable for both commercial and residential
loans. The property Tax and insurance reform will benefit everybody,
the primary residents, the second home owners and the investors.
We as Realtors are seeing buyers and investors coming back into our
market. One of my fellow Realtors is working with a client who is
buying every single Gulf Access Lot he can buy for under 80,000 Dollar.
He bought 160 already. Others are following. The inventory on those
and other “bargains” will shrink fast and very soon the buyer’s market
will turn into a seller’s market again.
Good for the sellers, bad for the buyers. We still remember the housing
boom in 2004 and 2005, everybody expected the housing market to turn
from the buyer’s to the seller’s market but nobody expected it to
happen that fast and that drastic as it did. Buyers bidding against each
other for one property, some properties did not even make it to the
open market before they were sold. This is for sure not the right time to
buy, that is the right time to sell.
Everybody expects the Real Estate Market to recover some when
between the end of this year to about 2 years from now. CNN Money
Magazin and Forbes published in their August issues that they are
expecting for the Metro Cape Coral/Fort Myers an increase in property
value in 2008 of about 25% and name this area among the Top Ten in
the Nation with the highest Property Value increase.
Is it worth waiting for another few month before investing? Are the
prices declining even more? I don’t know, but there are signs that that
might not happen. We are seeing more and more buyers and investors
taking advantage of the current market situation, that will cause a
decrease in inventory, which will consequently lead to price increases
for certain properties.
I am a Realtor in Cape Coral/Fort Myers since 1994 and I have worked in
quiet some Buyer’s and Seller’s Markets since then. If you are a seller
and if you are able to, hang on to your property just a little bit longer,
times will change soon. If you are a buyer or investor, I honestly think
time to buy is now!
Hope to see you soon in sunny Florida Monika Wilson Realtor ERA
OneSource Realty, Cape Coral, Florida

http://www.spotfloridarealestate.com

Century 21 Sunbelt

Monika Wilson

2378 Surfside Blvd, Cape Coral, Florida, 33991

 Phone: 888 411 6111, 239 823 9683