Whats the Deal With Cape Coral Florida Property?
Cape Coral was home to one of the largest real estate and building booms in the country. I remember back in 2005 where you could not visit a convenience store or barber shop and not hear stories about how the person working there had just bought another condo or was trying to flip a house. I always think of Warren Buffets immortal words, “Be Fearful when others are greedy and greedy when others are fearful.” Everyone should have known that the market could not sustain that amount of monumental growth but a whole lot of people got caught with their financial pants down. In September the Florida Association of Realtors released official home and condo sales numbers for the month of August. Median sale prices were down 41% for single family homes in the Fort Myers Cape Coral area from last year. Median home sale prices in Cape Coral and Fort Myers have fallen 30.84% in three short months, from a median price of $212,400 in May to a median price of $146,900 in August. Home sales were up 31
