Fort Myers and Cape Coral Florida Home Buying Season

Season is arriving early this year it seems. Our stores are filling up with friends from up north here for the winter. Our restaurants are busier and calls for information about our homes for sale in Cape Coral, Fort Myers and Sanibel are steadily increasing. Home prices are still great and interest rates are still near record lows. Our inventory is also on the low side so if you are interested in finding a great home here in Southwest Florida I would suggest giving us a call very soon. If you would like to sell your home this season, now is the time to contact us and put your home on the market. Come visit us at our main website www.FloridaLuxuryBroker.com.

 

Ok, I’ll talk about the real estate market.

I was hounded to write my opinion about the real estate market. This is a new blog and I was avoiding that because everybody talks about the market. I would rather have an open exchange of relevant real estate ideas and thoughts. My take on the market in general is similar to everyone else. Low priced properties like the foreclosures and short sales are moving very well and giving the  Realtors something positive to talk about. Those properties  are not really my area of expertise, but I watch what is happening and the sales numbers are impressive. It can be difficult for the small investor to buy the best deals because we are seeing a different class of investors in the market now who are buying these homes like the pros they are. Multiple offers, multiple closings, some for rentals and some for fix and maybe flip.  I hope they keep it up because they are fixing up a lot of ugly homes and messed up neighborhoods created by the previous owners and investors owning homes they never should have been able to buy and destroying them.

Homes off water are a great buy and you can find many foreclosures and builder inventory at bargain prices. Homes on a Gulf access canal can even be an older and ugly house, but still a great investment for the future. Think long term or maybe boat house.

You can expect to get a beautiful foreclosure luxury home in the half million dollar price arena and of course up.  I found that there are many people who are still holding out for hope and change in this price range, particularly in some of the higher prices on the golf courses in south Lee County and waterfront homes in Cape Coral. I truly wish I could get you that million dollars or more the appraiser told you  it was worth  back in the real estate market of yesteryear.  I know some of you took out those equity lines and used your home like an ATM machine. You are fully entitled to your own opinion about your home value, but not to your own facts about the real estate market. Your buyers are educated  and they don’t really care why the very comparable home down the street sold for two hundred thousand less than you are asking, they just know that it did and the bank will know it as well when they get the appraisal and they will not lend money on a home that is overpriced for the market.  I would like to sell your home for the old prices, I would make more money that way as well, but that is not the way the world works.

In the true luxury home market it is more difficult to determine a real trend in the real estate market because if you want the best, it still has great value in any sales environment. The undeniable fact is that those prices are deflated across the board as well compared to the peak of the market and bargains are most certainly to be found. I have seen some multi-million dollar foreclosures that are stunning deals. Comparable sales and comparable homes in general can be hard to find when pricing or making an offer on many of these homes so be certain to call me.

If you are financing, the interest rates are still great. I think it would be foolish to think that will remain true. I am not a professional economist, but I hear many of those who are saying rates will be rising in the near future.

The lines I hate to say, but can’t avoid  are ” Now is a great time to buy!” and “You should really buy now!” It is true, especially right now as summer is here in Florida and the real estate market is slower.

Each home, neighborhood and circumstance  is different, especially in this crazy real estate market. If you want to buy or sell we will need to speak and prepare a business plan of sorts to get you to your goal successfully. That is what I do. Go to www.FloridaLuxuryBroker.com for more information.

Beware of the amazing internet house deal.

Every day I am contacted by  people who have seen a house on some web site that just looks amazing, incredible, unbelievable whatever. Every day I have to  let them  down  by telling them, “No that condo is not for sale for $3500. That is the weekly rent.” or “No that home for $100,000 is is not really on a Gulf of Mexico access canal” or “Sorry that house shows active on that site, but it is really under contract.”

The point is the information you see in the automated property search sites is not accurate sometimes due to  the lag time between the information update between the real Multiple Listing Systems, the IDX systems and the sites themselves or just because of human error in typing info and updates into the system. It has also been a trend by lesser agents  in this competitive market to pad a listing with attractive, but inaccurate info just to  lure potential buyers to contact  them. That is the same principle as the phishing email scam. The MLS administrators and good brokers try hard to weed out that garbage, but there is a lot of information to cover.

The bottom line: if the house looks too good to be true it probably is. Don’t get hooked by a scammer or con person and if you want real, current information on properties in Southwest Florida just ask me. I  will look at the real MLS which is the first hand information from our Board of Realtors and send the information right to you. On my website www.FloridaLuxuryBroker.com I have a search page that is different that anyone else. It is actually the map search directly from the Realtor MLS. Its is not flashy, but you can zoom into the exact area you want to see properties and see what is available in real time with the raw data from the Realtor. When it is time to get serious about looking at a house to buy, call or email me to get all of the information you need and the professional service that come with a professional real estate Broker.