Buying in cape coral, FL

Profile picture for izzy b
Why are homes priced so cheap in cape coral, FL? I see homes build in 2005 going for $60.000. Is it a good idea to invest as a second home? How much were they selling in the boom? How is the area and beaches? What about the taxes, aren't they assest based on the purchase price, about 2%?
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0Yes

February 06 2009 - Lynbrook
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Answers (2)

"prices are low now..." ok, low compared to LAST year...

how about compared to NEXT year?

Is it really too much to ask for a bit of market analysis? vacancy rates for rentals, local job market, suppl versus demand?

yeah 60k sounds cheap, but then again, it probably sounded cheap in detroit a couple years ago too!

Lets have a bit of analysis, you know, those critical thinking type quesitons you hated in college!
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February 21 2009
Profile picture for JenniferStepanek
To give a blanket answer for Cape Coral is hard, every subdivision is different&holds their values differently.  Look for unique features that make the home stand out from the rest. 

The general theory behind any investment, is buy low, sell high.  Prices are low now, so...   (Remember, there is no crystal ball though)

Tax Values are accessed by the county, not what you purchased the home for. 

I have a waterfront home for sale (5333 SW 2nd Pl, Cape Coral) check the VT at http://www.circlepix.com/home2/1NE2EN

Call me with any questions.  Thanks.
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February 21 2009
 

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