Cape Coral Florida Real Estate News
December 2020
State and National News:
- ‘If I wait, home prices will come down — but will they? Read more…
- Fed keeps rate near zero — sees brighter 2021 economy Read more…
- FHFA extends foreclosures, evictions moratorium to Jan 31 Read more…
- Pandemic fears fuel new appliance options Read more…
- Demand for Second Homes up 100% year-to-year Read more…
Taxes, Financing, Insurance, and more:
- Mortgage rates hit 15th record low in 2020 Read more…
- Pandemic changes Retirement savings rules: Review now Read more…
- ‘Shady’ Insurance Lawyer ripped off Fla. owners Read more…
- Congress to consider two major Insurance issues in 2021 Read more…
- FHA announces 2021 loan limits starting at $356,362 Read more…
Cape Coral and Florida News:
- Cape Coral ‘On the Move’ City Newsletter Read more…
- Burnt Store Road widening in final phase Read more…
- New development the corner of Chiquita and Pine Island Rd-Joe V’s Farm Market Read more…
- Cape Coral Economic Development newsletter Read more…
- Best Cities after Military Service Read more…
- New Parks Design Approval for NW Cape Read more…
- Cape Coral neighborhood wants permission to share road with golf carts Read more…
- Island Pearl Meet & Greet Read more…
- Four Lee Health Hospitals earn ‘A’ grade for patient safety Read more…
- America’s 20 Cheapest Cities where everyone wants to live now Read more…
- Cape Coral sees more planned medical offices Read more…
- Veterans Vietnam Memorial monument could be moved to Cape Coral Read more…
Tips:
- 30 Style shortcuts for getting into the Christmas spirit Read more…
- Smart Home? Take advantage with some Amazon Echo tips Read more…
- Remodeling Homeowners should also update their insurance Read more…
- How can I get Ex’s name off deed? Read more…
Nature and Parks:
- Cape Coral Parks and Recreations Winter Guide Read more…
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NOW IS THE TIME TO SELL !!!
*** RECORD LOW INVENTORY ***
*** It’s a Sellers Market ! ***
HOMES AND LAND are selling quick!!!
I SOLD these and I can help you too!
Call or email Deb today (239) 233-2322 – [email protected]
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~ December’s FEATURED Property ~
Waterfront Lot….3019 Ceitus Parkway, Cape Coral FL … Only $25,000
Click here to see more…
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Backyard News:
“Cape Coral”
- 625 active single family home in Cape Coral, as in years past the third quarter normally brings approximately a 5-8% increase in listing inventory. 2020 however, has become the exception, with levels the lowest they’ve ever been and an absorption rate of 77%.
- Sales fell in November by 17% from last month but they are considerably higher than last year and is one of the highest Novembers for closings since 2009, when distressed sales made up over 65% of the market.
- 2020’s lack of inventory has meant a rapid hike in prices. Currently, Cape Coral is $13k from the peak price of 2006 ($378k). Home values increased 23% from last year and list to sale ratio hit 99%.
“Fort Myers News”
- A 45% drop in inventory year over year and a drop of 8.2% from just one month ago. Nearly 50% of the market was absorbed last month as buyer demand continues and supply is unsustainable.
- A reported 357 closings for the Fort Myers market last month a 34% increase year over year. 2020 has surpassed closings for 2019 by 22% as of November.
- The average sales price of a single family home in November was $377k vs. $326k just a year ago. While good for homeowners, at a certain point home price appreciation will offset the savings from our low interest rates of today.
“Industry News”
- Fannie Mae loan limits are increasing from $510,400 to $548,250 effective January 2021.
- FHA loan limits increasing effective January 1, 2021. The limit for Title II and reverse mortgages rises from this year’s base of $331,760. In high-cost areas, the limit can go as high as $822,375, up from $765,600 in 2020.
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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…..
