Cape Coral Florida Real Estate News
February 2020
State and National News:
- The 5 best states for retirees in 2020 Read more…
- Buyers waiting for home price declines? It won’t be soon Read more…
- Buyers face more competition amid shortage of listings Read more…
- Caribbean-style Lagoons make a splash as hot amenity Read more…
- Gen Z is up against Millennials for housing Read more…
- Chinese drywall lawsuits wrap up after decades of litigation Read more…
- NAHB: Apartment demand will fuel multifamily in 2020 Read more…
- Florida’s Unemployment Rate hits record low Read more…
Taxes, Financing, Insurance, Scams, and more:
- Florida will offer Vets housing assistance via $8M program Read more…
- Mortgage rates change little this week, rise to 3.49% Read more...
- How can my daughter keep my house after I die? Read more…
Cape Coral and SW Florida News:
- City of Cape Coral “On the Move” newsletter Read more…
- Lee County staff to start negotiating Cape Coral land for Conservation 20/20 Program Read more…
- Hoping to Buy a Home in 2020? The easiest and toughest places to find one Read more…
- Ideas proposed for Cape Coral Bridge feature a park and restaurants Read more…
- 3,800 homes proposed in north Cape Read more…
- Cape Coral considering ban on self-storage facilities on Pine Island Road Read more…
- Southern end of Summerlin Road continues growth surge… Read more…
- New affordable apartments could be heading to Cape Coral Read more…
- Cape Coral looking to ease congestion at intersection… Read more…
- Cape Coral plans to avoid delays in next section of the UEP Read more…
- Cape Coral to decide on allowance of public art downtown Read more…
- Cape City leaders are constructing new sidewalks Read more…
- Realignment of Littleton Road-Kismet Parkway gets under way Read more…
- Cape Coral to improve boat ramps for residents Read more…
Real Estate Tips:
- 10 ways the average American home is different today than it was in the 60’s Read more…
- Look at a fixer-upper? Here’s what to consider Read more…
- 12 DIY projects that don’t require power tools Read more…
- 4 top home trends you’ll see in 2020, according to Pinterest Read more…
Nature and Parks:
- Cape Coral Burrowing owl festival Read more…
- Cape Coral man helps bees, trees survive Read more…
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~ February’s FEATURED Properties ~
5021 SW 11th Pl, Cape Coral FL — $399,900
ATTENTION BOATERS! Well maintained home with DIRECT SAILBOAT ACCESS! Located south of Cape Coral Parkway on a lovely cul-de-sac with waterfront homes on both sides. This beautifully landscaped home offers a HUGE SCREENED LANAI area that extends the full width of the home. 20” TILE THROUGHOUT. Kitchen features: 42” custom cabinetry, solid surface countertop, stainless refrigerator, skylight, & more. GREAT ROOM has cathedral ceiling, skylight and slider to the lanai area. Formal dining room located off kitchen. FOUR sliders–two of which pocket behind the wall for that indoor/outdoor lifestyle. Master Bedroom has walk-in closet with built-ins, en suite bath with dual sinks & shower. Split bedroom design features; master on one side of the house and guest rooms on the other for the utmost privacy. Laundry room. Garage floor recently painted. Also enjoy sitting waterside on your concrete dock. A/C NEW in 2017. Hot water heater NEW in 2017. Boatlift with upgraded wrap around COMPOSITE DOCK in 2015. Dock has water + electric connections. Owner’s flood insurance is only $1288 per year. Easy access to the Ft Myers Int’l airport about 19 miles away.
Click here to see more…
232 NW 38th Place, Cape Coral FL — $124,900
Fabulous BOATING ACCESS from this WATERFRONT GULF ACCESS LOT located close to the SEVEN ISLANDS. Located on the Romanoff Canal in unit 59 of the NW Cape–offering boating access to the Gulf of Mexico and beyond. *** SEAWALL and DOCK!!! *** This area is part of the City of Cape Coral’s New Vision planning and the City water/sewer/irrigation project is on the way. Gorgeous new construction happening all around. You’ll love the WESTERN EXPOSURE. Imagine building your dream home…walking out your back door…. getting in your boat and heading out to anywhere in the world. Now that’s ACCESS!!! Close to bridge for quicker boating out to the Gulf of Mexico, beaches, and surrounding islands such as Cayo Costa, Cabbage Key, Sanibel, Boca Grand…. Not to mention…this area offers some of the best fishing to be found anywhere in the world. You’ll also love that it is only about 3 miles away from a 18-hole Championship Golf Course. INVESTORS—don’t miss out on this up and coming area with lots of new Custom homes being constructed in the neighborhood. Close to shopping and restaurants and more. Ft Myers Int’l airport is only about 30 miles away & Punta Gorda airport approx 20 miles away.
Click here to see more…
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Backyard News:
“Cape Coral”
- The “a typical” patterns in inventory Cape Coral is used to seeing at the beginning of the year, are all but non-existent. One normally expects a rise of about 10-15% in January but 2020 is breaking the mold with a rise of only 2%. Levels are the lowest they’ve been in over 5 years.
- Although sales fell from a strong December, January sales reached over 300 a surge of nearly 14% and absorption rates remained high at 20%.
- Inventory levels depict a neutral market, the list to sale ratios continue to favor sellers at 97%. Meanwhile, appreciation soared to nearly 10%, maintaining the average single family home price at over the $300k mark.
- New home construction is one of the leading gauges of any market, whether determining upward or downward momentum, the increase year over year shows promising to an existing normal market.
“Fort Myers News”
- January 2020 began with a most expected drop in sales however, January didn’t come in mild at all. January witnessed the highest number of sales since 2015 and a growth of 35%.
- All markets are driven by buyer perception, regardless of market condition, timing etc. Affordability is all about whether a buyer believes that it’s a good time to buy. January prices rose by 5% and inventory levels portray one of a neutral market.
- New construction homes equal approximately 20% of all active homes, cementing the soundness of the FM new construction market. Nearly a 70% increase in demand and potential growth in the upcoming year.
“Industry News”
- Some buyers may be able to qualify for loans without the need for appraisals (ie. Appraisal Waivers). Buyers with high credit scores, low DTI ratios and high DP’s should have their applications run through Freddie Mac in addition to Fannie Mae and other lending institutions (FHA, VA). The Freddie Mac automated system determines if the property should get an appraisal waiver and mortgage companies are seeing the waiver given more often. Reducing the stress for all involved.
- Mortgage rates continue to fall, the average rates on a 30-year fixed mortgage have fallen to 3.45%, the lowest mark in three years. One year ago, the same rate was at 4.41%. The plunge, has been a boon for the housing market as homeowners rush to refinance or lock in low rates for their home purchases.
For more… click here for Cape Deb’s Blog…..
Cape Coral Weekly Market Watch
Have questions? Need Cape Coral Real Estate assistance? Call Deb Cullen at (239) 233-2322 or click here…..
