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Cape Coral Real Estate News – November 2019

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Cape Coral Florida Real Estate News

November 2019

State and National News:

  • Top Cities where Millennials, Gen Xers dominate, and Boomers move the market   Read more…
  • More than 300,000 new residents moving to Florida every year   Read more…
  • Economists at NAR say a 2020 recession is unlikely   Read more…
  • A laser beam can entice Alexa to spill your secrets   Read more…
  • NAR: 3Q Home Prices up in 93% of U.S. Metro areas   Read more…
  • NAHB: Home Affordability at highest level in 3 years   Read more…
  • Fla. pays off sugar lease to build algae-fighting reservoir   Read more…
  • Fla. needs 48K apartments built each year   Read more…

Taxes, Financing, Insurance, Scams, and more:

  • Kiplinger’s ‘Most Tax-Friendly States’ list Fla. at No.8   Read more…
  • Mortgage Rates drop to a six-week low   Read more…
  • J.D. Power Ranks 2019’s ‘Favorite Mortgage Lenders’   Read more…
  • Cybersecurity Real Estate Scam expanding quickly   Read more…
  • FEMA Postpones Flood Insurance changes for one year   Read more…

Cape Coral and SW Florida News:

  • America’s cheapest cities where everyone wants to live right now   Read more…
  • Three Lee County communities named in 2019 list of fastest-growing cities   Read more…
  • Cape Coral, a Purple Heart City, is all heart for the holidays   Read more…
  • Cape Coral city leaders discuss potential projects to be funded by FEMA   Read more…
  • Cape Coral ‘Catch the Vision’   Read more…
  • Crews demolish Cape Coral Yacht Club pavilion   Read more…
  • Changes coming to two intersections along Littleton Road   Read more…
  • Pine Island Road fast becoming dealership row   Read more…
  • Lehigh Acres tops nationwide list of fastest-growing ‘cities’   Read more…

Real Estate Tips:

  • How to declutter your home forever   Read more…
  • DIY Thanksgiving decorating ideas you can do at home   Read more…
  • 55 Best outdoor Christmas decorations to get your yard in the spirit   Read more…

Nature and Parks:

  • Cape Coral creates $100K fund to protect local wildlife   Read more…

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~  November’s FEATURED Property ~

4033 NE 9TH PL, Cape Coral  FL —  $249,000

Gorgeous Pool Home! NEW pool in 2018 with paver deck. NEW a/c 2018. NEW water heater 2019. NEW pool pump 2019. NEW sod 2018. NEW sprinkler system upgraded 2019. White Panel FENCED yard. Large Kitchen with extended breakfast bar for extra seating, STAINLESS STEEL appliances, pantry, tile flooring and big windows for lots of light. Great room has cathedral ceilings, tile, and wide sliders for a beautiful view of the pool area. Split bedroom design with master on one side of the home and guest rooms on the other for the utmost privacy. Master Bedroom features a tray ceiling, big walk-in closet, and en suite bath with a spacious shower, dual sinks, and separate commode room. Guest bath offers tub/shower combo and has access to the pool area (pool bath). BEAUTIFUL LUSH LANDSCAPING & PALM TREES. Your insurance company will love that this home has Storm protection…plus City website shows location is NOT IN A SPECIAL FLOOD HAZARD AREA. Great Location! Across from waterfront homes and New Construction nearby. Easy access to downtown Ft Myers. And the Southwest Florida International is airport only about 30 miles away and Punta Gorda airport about 25 miles.

Click here to see more…

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Backyard News:

“Cape Coral”

  • Inventory levels have begun their ascent, although a late start compared to previous cycles, including that of last year single family homes rose to 1670 in October. The rise of 56 single family homes is slightly low for this time of year however, Cape Coral normally doesn’t see a huge uptick until beginning of a new year.
  • Sales are up 6% from last year and down slightly from last month and still within predictable patterns.
  • Neutral markets don’t last for very long typically a month or so at most, with inventory levels rising last month and highly probably to rise again the remaining part of this year, a buyer’s market is right around the corner.
  • A robust start to a new FY, 203 building permits were issued in the month of October, this is the first time in over 13 years that permits exceeded the 200 mark in a month and tied 2007’s FY (of 203).

“Fort Myers News”

  • Active single family homes up 3% significantly lower than last year by nearly 18%. Regardless of the uptick in inventory, properties coming off the market continue to outdo those coming on the market.
  • Total Fort Myers closing in October were 300 and approximately 23% of the market were absorbed. Closings in 2019 (YTD) have passed those of 2018.
  • Like that of Cape Coral, Fort Myers has entered a neutral market, prices holding steady at $314k with a 1.2% gain over last year.
  • An outstanding increase in building permits issued for Fort Myers (FY). Permits in October totaled 260 a jump of 63% in one month.

“Industry News”

  • Effective January 1, 2020, the VA Funding Fee is increasing from 2.15% to 2.3%, with subsequent use from 3.30% to 3.6%.  If a VA loan is currently in process and funds in January of 2020, the new funding fees apply.  Also, the VA will no longer have a CAP in regards to Jumbo Loans.  Realtors, and Borrower’s should be very conscious on any loans that are currently in process to fund.

 

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…..