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Cape Coral Florida Real Estate News – June 2022

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Cape Coral Florida Real Estate News

June 2022

Florida and National News:

  • Here’s why this housing downturn is nothing like the last one   Read more…
  • 1 in 4 Sellers cutting prices as market cools   Read more…
  • Hot housing market keeps foreclosures at bay   Read more…
  • Number of Buyers backing off? Maybe half   Read more…
  • Share of homes with price drops reaches new high as mortgage rates top 2008 levels   Read more…
  • Fed attacks inflation, largest rate hike since 1994   Read more…
  • Recession ahead? Most Economists say ‘no’   Read more…

Taxes, Financing, Insurance, Scams and more:

Cape Coral and Florida News:

  • Cape Coral plants 100 trees on Veterans and Kamal Parkway   Read more…
  • Apartment developers, Culver’s stake claims in Cape Coral   Read more…
  • Cape Coral development sells for $14.65 million   Read more…
  • Top U.S. Relocation Destinations?   Read more…
  • New Developments in Cape Coral   Read more…
  • Cities with the fastest-growing home prices in Florida   Read more…
  • Cape Coral among top 100 best places to raise a family   Read more…
  • RSW expansion plan hopes to make it easier for travelers   Read more…
  • Council takes next steps to upgrade Cape Coral Bridge   Read more…
  • Second-home hotspots Cape Coral, Naples saw outsized growth in rental homes prices   Read more…
  • Seven Islands Update   Read more…
  • Cape Coral land sells for $4.2 million, duplex community planned   Read more…
  • Cape Coral named a top-100 city for Staycations   Read more…
  • Cape Coral City Newsletter   Read more…
  • Cape Coral growth speed exceeding expectations   Read more…
  • This small Florida City has more canals than Venice-and it’s a Top U.S. Summer Destination   Read more…
  • Cooper’s Hawk Winery & Restaurant planned for South Fort Myers   Read more…
  • Cape Coral plans $185M renovation to decades-old bridge   Read more…
  • Hobby Lobby to open in June in Cape Coral   Read more…

Tips:

  • The 10 Most popular home projects for 2022   Read more…
  • 50 Things every homeowner should know how to do   Read more…
  • 46 Kitchen organization ideas you wish you knew sooner   Read more…

Things to do:

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DON’T SELL YOUR LOT!!!  

SCAMMERS – SCAMMERS – SCAMMERS EVERYWHERE!!!!!

Callers looking for lots way BELOW value.  Please protect yourself and find out the real value of your land before you sell to anyone.  Call Realtor Deb Cullen today…

(239) 233-2322

I’ll be happy to help you find your value…

~ DON’T GET SCAMMED ~

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SPECIAL THANKS TO ALL MY AMAZING CUSTOMERS FOR ALLOWING THIS AWARD TO COME TRUE….

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~  June’s FEATURED Property #1 ~

2807 SW 35TH LN … only 349,900

SURFSIDE NEIGHBORHOOD with MILLION DOLLAR homes nearby! This GULF ACCESS lot offers a SEAWALL and City water/sewer in and ASSESSMENTS PAID. Located in unit 74 on the 140’ Durango Canal. Beat the Florida sun with this great Northern 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 is ACCESS!!! Boating access to the Gulf of Mexico, beaches, and surrounding islands such as Cayo Costa, Cabbage Key, Sanibel, Boca Grand, etc. This area offers some of the best fishing to be found anywhere in the world. Nearby Surfside Shops, with lots of dining and shopping options, is only a couple miles away. You’ll love that this location is easy access to the Ft Myers International airport which is only about 26 miles away & Punta Gorda airport about 26 miles. Call today!

Click here to see more…

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~  June’s FEATURED Property #2 ~

4317 NW 27th St … only 89,000

Wonderful lot located across the street from waterfront homes. Sought after area west of Old Burnt Store Rd in unit 83. Northern Exposure. NW Cape Coral is convenient to shopping, Gulf Access Boat Ramp, Restaurants and more… Located in the City of Cape Coral’s New Vision planning area with lots of new construction nearby. Come take advantage of the deals while they are still available…. EVERYONE IS MOVING TO SUNNY SW FLORIDA!!! Imagine building your dream home with huge waterfront homes nearby. Now that is living the Paradise dream…. Or keep as an INVESTMENT as we watch the City grow more!!! Saltwater Boating Access from several Community Boat Ramps located throughout the city gives access 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. Plus, you’ll love the fact that this lot is only about 30 miles from the Fort Myers Int’l Airport, 20 miles from the Punta Gorda Airport and 2 miles to Coral Oaks Golf Course. PRICES ARE ON THE RISE! Come take advantage of the deals while they are still available….

Click here to see more…

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Backyard News:

“Cape Coral”

 ·    An unprecedented rise of nearly 36% in active inventory, as more and more listings come on the market some buyers may become wary about submitting offers and or the list to sale ratio may fall below that of high 90’s into 100’s. Negotiations will go back on the table as more buyers and sellers enter into contracts. The expectation for many would be buyers is that as interest rates continue to increase throughout the rest of the year (as is expected) buyers and sellers will begin to feel the impact as the housing market begins to slow down.
·      The average home sold for less than asking price last month and are also down by 4% from April. Inventory rose to the highest levels in about 18 months, now although that is great news for buyers, and will offer some relief, prices will remain in the double digit realm for the foreseeable future. If the increase in active inventory continues, buyers will have a slight edge when submitting offers and seller’s will have to consider appraisal, repairs, DOM considerations. we can expect to see prices begin to moderate slightly,. With all that being said, it is highly unlikely that prices will ever fall below the $500k mark in Cape Coral ever again.

“Fort Myers News”

·     5 months of year over year drop in sales and 12% in one month. Inventory levels nearly doubled from last month, cementing the sure shift in this local market.  Over the course of the next several months, home sales will plateau and numbers of home sales seen after the pandemic may be a distant memory.
·      Average list to sale ratio fell to 99% last month, home prices did rise month over month similar to surrounding areas as did inventory levels. Absorption rates were 74% a stark decline from where they were even just a few short months ago.

“Industry News”

·  Down Payment Assistance for Hometown Heroes. The program provides the lessor of 5% of the loan amount up to $25k to go towards cash to close.
o  $300,000 loan amount x 5% equals $15k towards cash to close and closing costs. In this example the min down payment for FHA would be 3.5% ($10,880) and that would leave an additional $4,119 to go towards closing costs.
o   Credit score of 640 or higher
o  Must be a first time home buyer. First time home buyer is someone that hasn’t owned a home in three years
o  Must be full time employee, licensed and certified
o  Below is a list of occupations that will be eligible. Be sure to check this out. It is a long list.https://www.floridahousing.org/docs/default-source/programs/homebuyers/hometown-heroes/added-occupations-060322.pdf?sfvrsn=3c7cf57b_2
o  Primary Residence only
o  Income limits for Lee County is $120,600
o  FHA loan limits of $420,680
o  Conventional and VA limit is $647,200

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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…..