Cape Coral Foreclosures
Once the home of a booming housing market, Florida is now seeing record numbers of foreclosure filings and putting a wide variety of homes on the market. According to RealtyTrac.com, foreclosures in the state are selling for about $257,576 on average—a 41% savings. Cape Coral in particular has seen a great deal of foreclosure activity, which makes this an excellent time to find a deal on Cape Coral real estate.
Read more about Cape Coral foreclosures, or click here to see all Cape Coral FL foreclosure listings .
Cape Coral Florida Listings
| All Listings | Under $100,000 | $100,000 - $200,000 |
| $200,000 - $300,000 | $500,000 - $600,000 |
Dont Miss This Great Opportunity To Own A Condo In...
- Price:
- $34,900
- City:
- Cape Coral
- Beds:
- 2
- Baths:
- 2
- Type:
- Residential
- MLS® #:
- 201204694
- Provider:
- The Wilmoth Group Inc
Dont Miss This Great Opportunity To Own A Condo In The Heart Of Sw Cape Coral. 2 Bedrooms And 2 Baths...
Great Investment Opportunity. 3 Bedroom, 2 Bath Home...
- Price:
- $37,120
- City:
- Cape Coral
- Beds:
- 3
- Baths:
- 2
- Type:
- Residential
- MLS® #:
- 201204062
- Provider:
- Benham Real Estate Group Of Sw Florida Llc
Great Investment Opportunity. 3 Bedroom, 2 Bath Home With A 2 Car Garage In Ne Cape Coral. Close To Main...
Bank Owned. 2 Bed 2 Bath Located In Desirable In Sw...
- Price:
- $39,900
- City:
- Cape Coral
- Beds:
- 2
- Baths:
- 2
- Type:
- Residential
- MLS® #:
- 201136997
- Provider:
- Prudential Florida Realty
Bank Owned. 2 Bed 2 Bath Located In Desirable In Sw Cape. Immediate Occupancy.
This Property Falls Under The First Look Initiative...
- Price:
- $40,000
- City:
- Cape Coral
- Beds:
- 2
- Baths:
- 2
- Type:
- Residential
- MLS® #:
- 201128386
- Provider:
- Century 21 Sunbelt Realty, Inc
This Property Falls Under The First Look Initiative Until 8/4/2011. The Seller Will Only Consider Offers...
If You Are Looking For A Condo That Is Located Close...
- Price:
- $44,900
- City:
- Cape Coral
- Beds:
- 2
- Baths:
- 2
- Type:
- Residential
- MLS® #:
- 201204121
- Provider:
- Red Pig Realty Llc
If You Are Looking For A Condo That Is Located Close To Conveniences At An Affordable Price, You'll Want...
Great Townhone Home Located In Cape Coral Off Of Del...
- Price:
- $45,900
- City:
- Cape Coral
- Beds:
- 2
- Baths:
- 2
- Type:
- Residential
- MLS® #:
- 201204224
- Provider:
- Marc Joseph Realty
Great Townhone Home Located In Cape Coral Off Of Del Prado Blvd. This Great Townhome Features 2 Bedroom,...
This 2 Bedroom 2 Bath Condo Is In The Perfect Location,...
- Price:
- $49,900
- City:
- Cape Coral
- Beds:
- 2
- Baths:
- 2
- Type:
- Residential
- MLS® #:
- 201200301
- Provider:
- The Wilmoth Group Inc
This 2 Bedroom 2 Bath Condo Is In The Perfect Location, Close To All Shopping. Enjoy Your Privacy With...
Great Starter Home!! This 3 Bedroom 2 Bath Home Has...
- Price:
- $54,900
- City:
- Cape Coral
- Beds:
- 3
- Baths:
- 2
- Type:
- Residential
- MLS® #:
- 201200582
- Provider:
- Royal Shell Real Estate, Inc
Great Starter Home!! This 3 Bedroom 2 Bath Home Has 1140 Sq. Ft. Of Living Space. This Home Features...
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Cape Coral Florida: Foreclosures, Short Sales & Bank Owned Homes
Why are there so many foreclosures in Cape Coral and surrounding areas? During the real estate boom of the mid-2000s, there was a major influx of buyers in Southwest Florida. Builders flocked to the area, banks had lax lending standards, and homes flew off the shelves.
Because real estate markets naturally ebb and flow, an inevitable market correction came. Suddenly there were more homes than interested buyers, and many of the homeowners who had subprime mortgages saw their monthly payments balloon. After missing a couple of payments, the foreclosure process began on their Cape Coral homes.
Homeowners who are struggling with their mortgages may try to sell their homes through a short sale, which involves selling their property for less than they owe. If they're unable to do this, the property will be put up for auction. If the auction doesn't result in a sale, ownership of the homes revert to the lender, and the house is now considered a "bank owned" home or "REO."
Because lenders aren't particularly interested in owning real estate, Cape Coral foreclosures generally sell for much less than they would have a couple of years ago. Right now, buyers looking for a slice of paradise in Southwest Florida can scoop up some great deals if they shop carefully. There are also fewer buyers on the market because lending requirements have become much stricter. This puts you in a strong position to negotiate for your Cape Coral home.
Purchasing a short sale, foreclosure property, or bank owned homes does have its risks, however. Not all properties are worth what the bank is trying to sell them for, and some houses will require costly repairs. To make sure that the home you're thinking of buying is a good investment, it's important to have an experienced real estate agent by your side.
If you're interested in buying a foreclosure, short sale, or bank owned home in Cape Coral FL, contact us for expert advice.