People who want a place with pristine views of the coast and opportunities for water fun will not go wrong with exploring waterfront properties like the ones in Cape Coral, Florida. Based on a home price analysis report released by RealtyTrac® earlier this year, today might be the right time to do so, while the annual home appreciation pace in about two-thirds of U.S. metros are slack.
While real estate professionals prefer a slow-but-sure progress to ensure sustainability, the situation is by no means permanent. The report showed that the Cape Coral-Fort Myers area already had over a 100% spike in home appreciation in mid-February, since hitting the price bottom of $74,900 in November 2010. The city, which is one of 10 markets with the largest gains, has a new price peak of $151,500.
Now is, therefore, the time to search for Cape Coral real estate through a REALTOR® with extensive knowledge of waterfront properties, such as Kevin Page of Cape Coral Lots. When you’ve committed to waterfront living, consider the following.
Cape Coral has 400 miles of saltwater and freshwater canals, and the area has certainly suitable properties for you. The only question left is “where”? Take time to scope out the waterfront districts to find a piece of lot that suits your preferences. Look for a place with easy access to basic services and public transport, as well as proximity to commercial establishments like markets. If you are settling in the city with your family, find a community conducive to family living.
Residential waterfront properties are perfect for establishing a vacation or retirement home, but they can also be your investment property. Whatever reason you may have wanting to purchase a lot in a waterfront community, Cape Coral offers choices that support your long-term goals. A Cape Coral, FL real estate broker like Page can provide pieces of land for sale that are a bit more expensive than regular residential lots, but present more flexibility if you have yet to decide its final purpose.
Loans and Insurance
Loans for residential lots and raw lands are accessible. Raw land loans have higher rates and vary according to lender. Seek guidance from reputable real estate brokers to determine the best lender. Your agent should also advise you to secure insurance for flooding or hurricane risks. It can open up options for support in cases of emergency, as Southwest Florida is vulnerable to hurricanes and storm surges.
When you want a property that combines tranquility and a fun atmosphere, Cape Coral is a good choice. Set an appointment with a real estate broker in the area now, while the lots are ripe for picking.
(Source: Annual Home Price Appreciation Slows in 65 Percent of Major U.S. Metros in February Compared to a Year Ago, RealtyTrac, April 2, 2015)