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Cape Coral Real Estate News – February 2017

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Cape Coral Florida Real Estate news

February 26, 2017

State and National News:

  • Fla.’s housing market: More sales, rising prices in Jan.   Read more…
  • Fortune magazine: The ‘most admired’ home builders   Read more…
  • NAR: The listing shortage won’t ease anytime soon   Read more…
  • A homebuilding boom?  Don’t hold your breath   Read more…

Taxes, Financing, Insurance and more:

Cape Coral and SW Florida News:

  • Forbes ranks Cape Coral as fastest growing City   Read more…
  • High-end luxury ‘man caves’ coming to Cape Coral   Read more…
  • Homes sales spur new business in Cape Coral   Read more…
  • Housing market, business booming in Cape Coral    Read more…
  • Welcome to Downtown Village Square   Read more…
  • Download ‘CapeConnect’ mobile app   Read more…

Real Estate Tips:

  • 6 Easy Home Upgrades for under $100   Read more…
  • 8 Energy-Saving Tips and Tricks that will save you a bundle   Read more…
  • 10 Emergencies Every Homeowner should know how to handle   Read more…

Nature:

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Please CLICK HERE to recommend Deb on Realtor.com

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THIS MONTH’S FEATURES:

1713 SW 29th Ter … WATERFRONT GULF ACCESS Home $438,00

This GULF ACCESS POOL home shows like a model home with no detail missed. City water/sewer ASSESSMENTS PAID in full at closing. Tiled throughout, this OPEN FLOOR PLAN with high ceilings is light and bright. Chefs will love the large kitchen with GRANITE and STAINLESS appliances. Roomy Master Bedroom with CROWN MOLDED TRAY CEILING connects to a striking master bath with jetted tub and walk in shower. Split bedroom floor plan with THREE SEPARATE WINGS allows plenty of comfort for everyone. HEATED POOL, which was just resurfaced with a Gorgeous PEBBLE TECH style finish, is located on an oversized pool deck with PAVERS. WRAP AROUND DOCK with 10K BOAT LIFT and CANOPY is composite for carefree maintenance. Lovely PAVER patio in backyard offers even more outdoor living space. Located on an oversized corner lot and Professionally Landscaped with beautiful palm trees. Imagine walking out your back door–getting in your boat and heading out to anywhere in the world.—now that is ACCESS! Boating access to the Gulf of Mexico, beaches, and surrounding islands such as Cayo Costa, Cabbage Key, Sanibel, etc. Int’l airport is only about 25 miles away. Close to shopping, restaurants, etc.

Click here to see more…

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“Backyard News”

> 263 single family home sales in Cape Coral for January.  Although a drop of nearly 26%, seasonally it was anticipated following a very robust December.
> Inventory levels rose by nearly 9% from December, however even with the awaited increase, new listing vs. pending listings are par!  No surplus on either side.
> The rise in inventory pushed our market from a neutral one to a full-blown buyer’s market, with 7 mo. of inventory.  Although inventory levels are high, 1st quarter always favors buyers.
>List to sale ratios continue to favor sellers with a 97% rate.
> Cape Coral total permits the highest single month in over 11 years.  136 single family permits issued for January with an estimated $30million taxable value.
> New listing inventory in the Ft Myers market has the potential to cripple values/prices if the significant increases continue at such rapid pace.  20% surge in one month, bringing total active listings to 1,813, highest number in years.
> 259 single family home sales in Ft. Myers for January, with the average sales price of $321,000.
87 reported sales in Bonita/Estero, a drop of 36% from December.

“Industry News”

> The FHA Monthly Insurance premium that was supposed to take effect in January was overturned by the new government administration and are still at the .85%.
> On a purchase transaction for an Investment property borrowers can use the future income for qualifying purposes.
VA changed minimum credit score down to a 580.
> Homestead Exemption deadline is to file is March 1st. (https://www.leepa.org/webforms/exemption/LC501REV6_15.pdf)