Fort Myers FL Real Estate – Historical Value Right Now

By November 11, 2009 Market Report No Comments

If you follow my blog with any regularity you know that for the last 6 months that I have been shouting from the roof tops that now is the time to buy Fort Myers FL Real Estate. This area was home to the fastest growing real estate market in the country when the down turn hit. Over zealous investing created supply that just could not be absorbed once the slow down occurred. What has followed is a free fall in values as banks are forced to liquidate assets at 30 day prices. A November 11th article in the Fort Myers News Press outlines facts and trends that confirm my claims that the downward trend in values has bottomed. The following are a few bullet points from that article.
• In the past year alone the median price in Lee County has plunged 40% to just $98,000.00
• The nationwide median price is $177,900.00
• Veteran Real Estate expert says “Statistically, we are probably done with price drops”
• Buyers from the north know that this is the last year for bargain prices so they are motivated
• 64% of sales in Lee county in the past year have been cash sales
o Investors recognize this unique opportunity
• Passage of tax credits gives both first time buyers and current owners $6,500.00 to $8,000.00 incentive
What it doesn’t say is that Southwest Florida is one of the most desirable destinations in the country for its sun, beaches, and life style. We are watching a historical opportunity unfold. If you have any intentions of buying or investing in Florida real estate, I encourage you to jump off the fence and act now.

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