Buyer's Remorse? Not So for Cape Coral Waterfront Property

Posted by Mary Ray on Monday, January 18th, 2010 at 8:28am.

It was simply a matter of time, but the word is out...again. US News & World Report has named Cape Coral, Florida one of the top 10 places to retire in the nation. This article, specifically touted Cape Coral waterfront property as affordable, and a wise investment decision.

It's not really surprising. Cape Coral real estate may have been one of the hardest hit by the burst of the housing bubble, but with the opportunities for fishing, swimming, boating, and other recreational activities, Cape Coral is the sweetheart of waterfront real estate locations.

That's not all. US News had pretty strict criteria when they made their top 10 picks. Using specific research and demographic information, other retirement qualifications, such as cost of living, affordable housing, and access to healthcare were also taken into consideration.

Not only does the Cape Coral area have some of the finest health care centers, including specialized care, but also a new, 200,000 square foot Veterans facility is in the works. The groundbreaking ceremony took place earlier this month. Veterans who once had to travel as far as St. Petersburg, will soon be able to receive all of their medical care, right here in Cape Coral.

Another interesting plus is the fact that international buyers from all over Europe and Canada are also looking to call Cape Coral their retirement home. Cape Coral waterfront home purchases are up by almost 50%, compared to the phenomenal sales that took place in 2005. Sales have steadily picked up each month. I imagine that such a mix of cultural diversity will only add to the charm of this already thriving community.

With the addition of so many European residents, I foresee some interesting and welcome business growth as well. Cape Coral already holds many area gems, such as Paesano's Italian Market, Miami Bakery Cafe, and Bubba's Roadhouse, but I can see more in the near future, especially with so many European investors. That's great news for us...maybe not our diets though.

Bottom line? There is still a lot of inventory right now, and with prices so low, it's the perfect opportunity to buy your dream home. Gone are the days when a 15 year old, 1000 square foot home sold for almost $200,000. The market has rebalanced, and that creates an ideal situation for all of us. Mortgage lenders may be slightly more stringent than they were a couple of years ago, but rightly so. Things were out of control. Financing was available to anyone with a pulse back then. Now, with the return to normalcy, investment potential is optimum, and those with a solid down payment and responsible credit score will still do extremely well.

Also, the extension of the homebuyers tax credit makes the decision to buy now even sweeter. Once again, the credit has been extended...this time until April. Plus, this credit is not just for first time home buyers. Anyone who has not owned a home in the last three years is eligible.

For details on the home buyer's tax extension, visit the IRS government website or call our offices here at Sporleder Realty. We will be happy to help you find the Cape Coral property that is perfect for your needs.

By David Sporleder | Sporleder-Ray Realty Group | david@davidsporleder.com| Google+

 

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