Cape Coral Foreclosures: Short Sales
Once the home of a booming housing market, Florida saw a record numbers of foreclosure filings and therefore putting a wide variety of homes on the market. Cape Coral in particular saw a great deal of foreclosure activity, which made it an excellent time to find a deal on real estate. Even though foreclosures have slowed down tremendously, there are still great deals in the area for the serious home buyer. Looking for something that meets your needs then give us a call at 239-691-0157 or 239-410-5821, we look forward to helping you.
What to do when your sales price leaves you short when selling your real estate: short selling my Cape Coral home
Cape Coral Florida Listings
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2 Bed • 2 Bath • 1,000 Sf
11720 Coconut Plantation, Week 49, Unit 5148l, BONITA SPRINGS
Week 49(1st Week Of December) In The Resort Timeshare Of Hyatt Coconut Plantation. This 2 Br / 2 Ba Unit Offers A Lock-off Scenario Where Owners C...View Listing
1 Bed • 1 Bath • 645 Sf
43 Vineyard St, LEHIGH ACRES
Affordable 1 Bedroom, 1 Bath Home Conveniently Located In Homestead Park. This Community Is Within Walking Distance To Area Shopping And Restauran...View Listing
2 Bed • 2 Bath • 1,010 Sf
6220 Augusta Dr, 417, FORT MYERS
Two Bedroom And Two Bathroom Condo Located In Seven Lakes With Spectacular Views Of The Golf Course From The Top Floor. The Pool Is Located Outsid...View Listing
2 Bed • 2 Bath • 816 Sf
17 Desert Candle Cir, LEHIGH ACRES
Great Opportunity! Popular Pinewood Condominium Two Bedrooms, Two Full Baths, End Unit With A Covered Carport! 55 Plus Community That Allows Pets ...View Listing
2 Bed • 1 Bath • 720 Sf
12034 Gladiola St, PUNTA GORDA
Tropical Acres Area Of Punta Gorda. Nice 2 Bedroom 1 Bath Home Built In 1990 And Offering 720 Sq. Ft. Of Living Space. Exterior Has Vinyl Siding. L...View Listing
2 Bed • 2 Bath • 1,138 Sf
6220 Augusta Dr, 306, FORT MYERS
3rd Floor, End Unit Offers The Largest Layout In The Seven Lakes, 55+ Complex. Featuring Roll Down Hurricane Shutters & Impact Resistant Sliding Do...View Listing
2 Bed • 2 Bath • 1,134 Sf
8761 Lueck Ln, 3, FORT MYERS
Wonderful Opportunity To Purchase A 55 Plus Condo Unit With 2 Bedrooms And 2 Full Bathrooms. This Is A 1st Floor Condo Unit In Cypress Lakes Manor ...View Listing
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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 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.
Cape Coral Communites
The data relating to real estate for sale on this website comes in part from the Southwest Florida Multiple Listing Service. The information being provided is for consumers` personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed.