spotfloridarealestate.com Blog

Top 10 Turnaround Towns (Realtor.com 04/26/2011)

Cape Coral/Fort Myers is in the top five group of a recent
study by realtor.com. Behind Buffalo Niagara Falls and Los Angeles, Ca, Cape Coral/Fort
Myers came in third, followed by Dallas, Tx and Boston, Mass.

“   3. Fort
Myers-Cape Coral, FL: If you’re
looking for a vacation home here, you’ll be paying much more than you would
have a year ago. Median list prices increased 24.12% this March, which was the
highest median price increase across the country. The market has experienced a
high number of distressed sales, much like the rest of Florida, and prices are
still 60% off compared to 2006’s highs. Inventory counts are lower than the
national trend, though listings are spending more time on Realtor.com compared
to the national average. “

Read more: Top 10 Early Turnaround Towns from Realtor.com: Part II |
REALTOR.com® Blogs

Good Evening,

the new numbers for 2011 just came out. I have published them on my web site at: http://www.spotfloridarealestate.com . It is very interessting to see, that the bank foreclosure sales are not the majority of sales anymore. The aborbation rate dropped again. All in all I see very positive signs about the recovery of the housing market in our area.

Beside those statistics I think everyone who is in the market of purchasing a home right now is experiencing that the market is “hot”. Good priced properties are coming on the market and often are gone within days – sometimes even for a higher price than the actual asking price.

There are reports about the still “looming” large number of bank foreclosures – currently the number of bank foreclosures on the market is going down. Yes I am sure that the banks still have quiet a few foreclosures in their book, however it seems that they are holding off putting them on the market. I think that they will hit the market eventually, but I don’t think they will hit the market in a “bulk” as we have seen in the past. I strongly feel they will enter the market piece by piece and to a higher price – adjusted to current market value. Banks are trying to minimize their losses, rather than “getting rid” of their inventory to “any price”. – This is my personal impression about the current market situation.

Even so the prices are still low, I can see some signs of a turning market – from a buyers market back to a sellers market. Nothing major yet – but still there are signs pointing in this direction.

Please visit my web site and blogs for more information about our market and our area (in English and German)

Please let me know if you have any question.

As always – I will be there for you
Monika

Hello from sunny Florida,

after all the bad news about the Real Estate and Economy during the last few years, the media are reporting quiet a few good news now. There is a major increase in permits pulled for new constructions for both – residential and commercial properties, the number of bank foreclosures and short sales is decreasing the the number of properties sold is increasing. Actually we are selling more properties than we did in the high market of 2005 and 2006. Our market is very fast since prices are still good and a lot of buyers and investors just know – now is the time to buy.

The news tonight reported about big news for Cape Coral. Please read article below:

CAPE CORAL, Fla. – The Army is making plans to move into Cape Coral.

On Tuesday, the city announced the Army has chosen a 15-acre site near Corbett Road and Diplomat Parkway for a new Army Reserve Center.

“It’s going to provide immediate jobs for construction people, which is a good thing right now, we need that,” said city council member Bill Deile, who led the push for the new center.

A retired Army Colonel himself, Deile expects the facility will provide space for around 300 Army personnel and a handful of civilian jobs.

“It’ll be a training site on weekends for the reservists that come in,” Deile said.  “During a week, it’ll be a workplace for the civilians that man the center.”

The site is an area the city has dubbed the “Veterans Investment Zone.”  A new VA Outpatient Clinic is already under contstruction next door.  The city is also trying to line up hotels, restaurants and other businesses in the zone for the influx of people from the two new facilities.

“They’re going to require other services, particularly people that come from out of town, they’re going to be looking for a place to stay,” Deile said.

The Army is now working on a land deal with private owners for the training center. 

Deile says word of their decision is already great news for the future of the Cape.

“It keeps the momentum going up in that area,” Deile said.

Read more:

http://www.winknews.com/Local-Florida/2011-02-01/Army-chooses-Reserve-Center-site-in-Cape-Coral#ixzz1CltJIUR4

Please let me know if you have any questions. As always, I will be there for you.

Monika