Southwest Florida’s economic recovery following the recession might have been slow, but it brings with it a hopeful real estate market. A news feature on the News-Press website posted last November 2, 2014 notes some of the more favorable aspects of the recuperating local realty industry. Of land transactions, the article discusses that previously, buyers could easily acquire distressed and over-leveraged land. Limited inventory for new housing and rising costs, however, are encouraging buyers to look beyond developed communities and into prospective, outlying areas:
Now builders and developers are paying the true lot price, often in excess of $50,000, that will be passed on to the homebuyer. Therefore expect significant price increases for new homes from here on, which may steer price-sensitive buyers toward secondary, outlying markets such as Cape Coral, Lehigh Acres, North Fort Myers, Golden Gate in Collier County, and Charlotte County overall. Buyers may also seek existing resale homes if the price for a comparable new home becomes out of reach, but still encounter limited inventory of entry-level pricing in primary submarkets.
Interestingly, Cape Coral was one of the outlying markets that the article listed. With prices dropping in the region to accommodate buyers on a limited budget, it is the perfect opportunity for you to browse through the numerous Cape Coral lots for sale. Well-informed brokers such as Cape Coral Lots should be able to walk buyers through the ins and outs of the local area, and which lots in a given area are the hottest.
Even if there is no building atop a particular lot, homebuyers need to make some serious considerations before purchasing undeveloped land. Features that are not immediately apparent, such as how prone the area is to severe weather, the availability of phone and electrical lines, and building restrictions on the land, need to be made clear so that buyers do not make any mistakes. To select suitable Cape Coral land for sale, it would be better for buyers to get in touch with local realty brokers. Brokers usually have access to comprehensive lot listings that make the selection process a breeze.
(Source: Real estate market hits era of good feelings, news-press.com, Nov. 2, 2014)