This is a crazy market. Cape Coral and Fort Myers Buyers are ecstatic over the deals they are putting together. When you look at the nuts and bolts of the deal they are really amazing. For instance the ability to buy a home for 2/3 and less of actual cost of building it. That is a steal!
Prices when inflated equaled high cost of labor, materials, land and even all those crazy impact fees. (that is a subject for a future blog). All of those items are on sale.
Land values have been reduced to very “cheap”. Why? Why buy a vacant lot to build when existing homes are pennies on the dollar. Once acquired you can spend money to bring the home to your expectations and standards ie: granite counters, new flooring, paint, cabinets and landscaping. Some homes only need cleaning and some appliances.
I have found many homes were left in pristine condition before foreclosure. These are nice people that found themselves in a not so nice position. They didn’t do anything wrong. They just got caught in a bigger than life reality. For some there was no other choice but to walk away. They also left the home in very nice condition. That is just who they are.
I can't say it enough. If you are thinking you'd like a piece of Paradise don't hesitate. It's hear in Cape Coral and Fort Myers