Cape Coral Florida Real Estate News

May 2021

Florida and National News:

• Expanding Economy makes Foreclosure Wave less likely   Read more…
• Unexpected Homebuyer Headaches: Hard-to-Get Appliances   Read more…
• Affordable Fla. Home Scare – But especially in SW Florida   Read more…
• 1 in 5 U.S. Homes now Multi-Generational   Read more…
• Pandemic Buyer Survey: Almost 75% happy they did   Read more…
• Mortgage Forbearance: How to ease out and avoid foreclosure   Read more…
• Foreclosures less likely with fewer homes underwater   Read more…
• How tight is inventory? 1 in 4 listings is new construction   Read more…
• Big RE Question: Will Workers return to offices?   Read more…
• The Real Estate Market Isn’t in a Bubble – It just isn’t   Read more…
• Recovery showing momentum after Pandemic-Caused Recession   Read more…
• Buyers want a Custom Home? It may take 18 months   Read more…
• Where Millennials are Moving   Read more…

Taxes, Financing, Insurance, and more:

• 30-year Mortgage drops after hitting 3% last week   Read more...
• Property Coverage Cancelled? Avoid Forced-Placed Insurance   Read more…
• Investors, Tax changes and what you need to know   Read more…
• Fla. Attorney General Warning: Beware of moving scams   Read more…

Cape Coral and Florida News:

• Hot Spots for millennials moving from out of state   Read more…
• Cape Coral Animal Shelter looks to expand, meet growing needs   Read more…
• People are flocking to Cape Coral fast, but can the City keep up?   Read more…
• Cape Coral City Council considering a ban on fishing from underneath bridges   Read more…
• Cape Coral working to fight low canal levels   Read more…
• What are they building on Tropicana and Nelson in Cape Coral?   Read more…
• Cape Coral leaders are working to protect canals from blue-green algae   Read more…
• SRS Brokers $7M sale of Shops at Surfside Center   Read more…
• Community Focus Group shares its vision of the Future of Cape Coral   Read more…
• Cape Coral considers Commercial Plan future plan of Burnt Store Road Corridor   Read more…

Tips:

• June Chore No. 1: Check Insurance Coverage, Inventory Home   Read more…
• 5 Design moves Christina Haack has ditched   Read more…
• 35 Before-and-After Backyard transformations   Read more…

Nature and Parks:

• Cape Coral Parks and Recreation Summer 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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~  May’s FEATURED Properties ~

Triple Lot!!!… 3003 NE JUANITA PL, Cape Coral  FL …Only $39,999

TRIPLE LOT! TRIPLE LOT! TRIPLE LOT! Oversized 120’ x 125’ Lot with EASTERN EXPOSURE located in Unit 36 of the North Cape area with lots of new construction nearby. Come take advantage of the deals while they are still available…. Imagine building your dream home in this beautiful neighborhood. Now that is living the Paradise dream…. Or keep as an INVESTMENT as we watch the City continue to grow!!! Cape Coral offers Saltwater Boating Access from several Community Boat Ramps located throughout the City, which will give you access to the Gulf of Mexico, beaches, and surrounding islands such as Cayo Costa, Cabbage Key, Sanibel, Boca Grand. Plus, you’ll love the fact that this homesite is only about 30 miles to the Fort Myers Int’l Airport, 20 miles to the Punta Gorda Airport and about 5 mile to Coral Oak’s 18-hole Championship Golf Course….. CALL TODAY!

Click here to see more…

104 NW 30TH ST, Cape Coral  FL … Only $29,900

Slightly OVERSIZED Lot with sought after SOUTHERN EXPOSURE — Vacant Lot located in unit 40 of the NW Cape area with lots of new construction nearby. Easy drive to Shopping, Restaurants and more… Come take advantage of the deals while they are still available…. Imagine building your dream home in this beautiful neighborhood. Now that is living the Paradise dream…. Or keep as an INVESTMENT as we watch the City continue to grow!!! Cape Coral offers Saltwater Boating Access from several Community Boat Ramps located throughout the City, which will give you access to the Gulf of Mexico, beaches, and surrounding islands such as Cayo Costa, Cabbage Key, Sanibel, Boca Grand. Easy access to Downtown Fort Myers only about 10 miles away. Plus, you’ll love the fact that this homesite is only about 30 miles to the Fort Myers Int’l Airport, 20 miles to the Punta Gorda Airport and about 5 mile to Coral Oak’s 18-hole Championship Golf Course….. CALL TODAY!

Click here to see more…

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NORTHWEST NEIGHBORHOOD ASSOCIATION REPORTS:

NOTE: For interest and eligibility in joining the NWNA go to NWCape.com

 

Walmart …… it’s baaack! In the recent past, we told you that the Walmart Supercenter once planned for SW Pine Island Road across from Bubbas was off the board and not going to happen. For years there was no movement and the land was even advertised as being for sale. However, an advisory plan has been submitted to the city for a Walmart Supercenter in that very location.

Around 2015, detailed plans were moving ahead when Walmart stopped all activity. That should make it easy for them to pick right back up and fast-track the project this time around. We shall see.

I love the smell of coffee in the morning, it smells like . . . Daybreak Market In the past, we had described all the plans for the intersection of Chiquita and Pine Island Road including changes in planning after ABC Discount Liquors of Orlando purchased the land on the northeast corner, just west of Aldi, and submitted a tentative plan for a liquor store and several small retail shops. A site plan has now been submitted for the southeast corner, between Chiquita and Bob Evans restaurant. That plan is for a convenience store/gas station known as Daybreak Market and Fuel.

Daybreak Market & Fuel has at least 16 Daybreak and fuel-related LLCs registered in the state of Florida with two currently in permitting in Jacksonville and one that began construction in Port Charlotte in March with an expected completion date of August 2021. The Cape Coral location will consist of a 7,188 SF convenience store, fuel pumps, and a restaurant w/drive thru. There’s more, coming to Chiquita and Pine Island Rd. In between Daybreak Market and Bob Evans will be a new US Postal Facility known as the USPS North Cape Coral Branchaccording to a preliminary plan submitted May 20, 2021.

Embers Lakes pushes forward The 86 acre property just off Embers Parkway and Nelson Road has completed a traffic study as part of the approval process for their development known as Embers Lakes. This 1,310 unit multi-family complex of 4 story buildings has been in the works for several years and is now moving ahead in a big way. Plans also include 76 electric vehicle charging stations.        The most recent plan for Ember Lakes on top and a previous illustration below

Bimini Basin development on the horizon The Community Redevelopment Agency approved a non-binding letter of intent with Roers Development for a proposed development along the Bimini Basin. Known as “Project Dolphin,” the project will be a mixed-use development, with 185 apartments, a 375-stall parking garage, 25,000 sq. ft. of commercial space, a pedestrian promenade and an 8,000 sq foot waterfront restaurant with docks, boat slips and upgraded seawall. The project will cost about $50 million. Approximately 700 combined construction (570 jobs) and permanent retail and restaurant jobs (120) are expected to be created for a project that could spur future development.

Project Dolphin would be built on the western edge of the basin, with Cape Coral Pkwy on the northern boundary. Groundbreaking is anticipated in late summer 2022 with completion by the end of 2023. Roers, last year, completed construction of a $50 million, 319-unit multi-family development called “Cape at Savona,” located on Savona Ave. just west of Chiquita Boulevard.                       —— The Community Redevelopment Agency also entered into a letter of intent with Flaherty & Collins Development to develop the property between Cape Coral Parkway and SE 47th Terrace, SE 8th and SE 9th Streets. The developer plans to use the entire block and construct a mixed-use building with approximately 280 luxury apartments, 18,000 square feet of commercial space; and a 525-stall parking structure with the first two levels reserved for public use. Plans are expected to be submitted in the fall, with groundbreaking expected for Spring 2022. Amenities include a pool and courtyard, lush street landscaping, and possibly, outdoor dining.

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INVENTORY IS LOW…

WHILE CLOSINGS CONTINUE TO CLIMB…

PRICES OVER LAST YEAR…

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Backyard News:

“Cape Coral”

• Inventory levels were up last for the first time in over 14 months. Levels remain unseasonably low across all the county with an absorption level of 212%.
• 723 closings in April, highest seen in over 13 years; including “distressed sale” days. Sales were up 20% in one month and 70% in one year.
• Home values have soared to record peaks, with the average single family home reaching $426,000 and list to sale ratios at 100%. Cape Coral was one of the highest appreciating markets in the county at 40%

“Fort Myers News”

• Fort Myers inventory at a low of 336, up slightly from the month before and a whopping 143% absorption rate in a single month.
• Closings in April were nearly unchanged from a year ago, Ft. Myers had a total of 480 compared to 493 in March.
• In the midst of a pandemic, Fort Myers prices were up in 2020. Fast forward to today and prices are 35% more than last year and 5% more than just last month.

“Industry News”

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…..