Cape Coral FL Housing Market HAS SHIFTED Is It Time to Panic
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- Опубліковано 13 січ 2024
- Cape Coral FL Housing Market HAS SHIFTED Is It Time to Panic
Let's share valuable insights and information about various topics. In this video, I'm diving into the Cape Coral real estate market, and I'll be your guide through the numbers and trends. Before we begin, if you're new here, don't forget to hit that thumbs-up button and subscribe to my channel for more updates. Feel free to drop a comment letting me know where you're tuning in from.
Now, let's talk Cape Coral real estate. It's essential to understand that real estate is incredibly local, and what's happening in Cape Coral might not be the same as in nearby towns. Currently, the Cape Coral real estate market is experiencing some significant shifts. Inventory has surged to 2,582, a stark contrast from the previous year's nearly thousand listings. Days on the market are around 47, signaling a buyer's market. The median home price has dropped to $389k, and there are a variety of properties available, ranging from $319k to $11.9 million. While there's an increase in inventory, sellers, don't panic just yet. I'll be monitoring the market closely, and buyers might find excellent opportunities in the coming months. So, stay tuned for more updates, and if you're interested in Cape Coral real estate, check out my website for detailed property listings and market insights. Thanks for joining me today, and I look forward to helping you navigate the Cape Coral real estate market.
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DONT PANIC IF YOU'RE SELLING ........ Like Share and Subscribe welcome back yo the channel
Always try to be ahead of the Market! Cape Coral is a AirBnB place. If sellers Panic now and put the prices of their house down by 20% Then house will sell. Better to take the cut now then latter. Don’t be the guy who believes that the insane prices people are asking of 50% or more of 2020 will sell. Those houses are staying on the market. The snow birds didn’t have money this year and won’t next year either . So unless you want to o hold on for the next four years or more. Panic! Panic! Panic! Be smart cut the price or be sorry latter. From what I see I have been right so far! Enjoy the great Bargains coming starting in June!,,
I see some good challenges ahead Manual great video love it.
What I found disgusting about Cape Coral is small lots, water wells, and septic systems. Terrible combination.
It’s not just Cape Coral there’s alot of towns and city that run on well and septic. Can you imagine that almost all Portcharlotte is on septic almost all East Naples is on septic and well Half of Kissimmee is in the same boat and so on
When you look at the property history of some of these houses ...they paid 210k in 2020 and they want 500k 2.5 years later ....do your homework before being sucked into these greedy f's.
Wait until you see my other video I’m goin to talk about this.
@@YourPoolHomeRealtor if you can get a 9% return on your home every year ....you're doing good. There is no need to flood the market with unrealistic asking prices ...it doesn't help anyone
@@dp.7616 our return here in Cape Coral historically is between 3% and 5% yoy some year has hit the 6% this will change for the people that bought in 2021 and 2022
That's pretty much the average nationwide, the exception during the pandemic and prior years were Air BnB or VRBO's sometimes breaking 5-9%. This isn't the case now, communities, cities banning short term rentals, and with banks offering 5% interest there's no reason to take on the headache or risk of renting in this market as it keeps trending down.
This channel should be much bigger…this is seriously some 411 ..intel .. Glad I subscribed because I’m looking to move in this area
So your bias??? Lol
Values need to drop still. Thank you for the video.
Markets is crazy
Watching from Michigan.
Hi! hows the weather? I saw youre getting hammer with snow
It is ugly. 14 Degrees and all I do is watch airline prices to Florida. lol@@YourPoolHomeRealtor
I'm represented and looking but can give my input on the area. The brand new or 1yo new construction higher end homes with fresh or salt water canal access 1-2m homes still feel 100k-250k overpriced, and it's showing with some hitting 30-60 days or even longer on the market. I appreciate they're getting price cuts but as an out of state buyer as much as I love the homes, I hate the tiny zero lot .20 acre lots that leave just a strip of grass between the lanai and boat dock. I can find older homes with more acceptable lots but like you're telling sellers I have no interest in an older home that may not be up to current code (dated pool that'll need repairs, older roof, seawall repairs, higher insurance rate, or risk of increases, etc), needs a full renovation (+$50-150k) to match the current new construction designs on the market currently priced 100-200k LESS than the older homes? Sometimes that'll get you a .25-28 lot and half the time to the gulf with no bridges or a better canal view, but it's just not worth it imo. I doubt most buyers NEED to be buying immediately in a community like Cape Coral either, more of remote work, vacation, retirement, unless working medical or service jobs.. so in a market trending down it's easier to wait it out for a better buy. Compared to elsewhere in the country, even at marked up prices the non-waterfront new construction modern homes in Cape Coral look like a fair deal at $750-850k or up to 1m as that style is hard to find (Cost per sq ft is nice), but then to a buyer like me it feels pretty pointless to buy if not taking advantage of the waterfront access vs living elsewhere in Florida. Anyways, appreciate you putting out relevant and truthful content on the area.
You are living in a dream if you thing they are overpriced by that much. It is called inflation for a reason
@@luisduarte9813 "Inflation" affected building material and labor costs through the pandemic, it has nothing to do with what new construction sellers and realtors price listings at now. These Cape Coral homes in the $1.25-1.75m range are getting $50k-150k price reductions AND closing under list all the time from their original listing prices. Just look at the MLS history for the area or monitor the market.
Price gouging & greed looks the same in any market!!!
I have news for the sellers. You better panic, between insurance, taxes and HOA fees you're going to get stuck with a depreciating liability. Interest rates have fallen but dont plan for them to fall much more. I mean even if they dropped into the 5 % area, thats not going to make these homes anymore affordable. Prices always take a few years to come down. They dont usually plummet, but with inventory climbing and sales slowing ( especially in December) get out while the goings good.
Interest rate has to drop to 1.2% to make it at least early 2020 payments of $1800 this was for our average home of 250k back then, but imagine all the people waiting for that! This will be a recipe for home inflation again, let’s see what happen thanks for commenting
December is the slowest month historically. If we go 5% or below prices will boom again. Prices will settle more or less where we are now but not collapse
@@alejandrobaez1249 My biggest observation is that the demand is consistently declining year over year, and it's surprising that not many people are discussing this issue. Despite a nearly 2% reduction in interest rates, there seems to be a lack of buyers at the moment. We hope to see an improvement in demand during the upcoming tax season
@@alejandrobaez1249 and yes December is the slowest month
@@YourPoolHomeRealtor there is buyers...on the sideline...low supply + high interest. And the cost of building has skyrocketed in last 5 years. Annnnnd if you bought pre 2021 your staying put. Buyers are just in a bad spot unless they're willing to move to spots like Cape Coral for example that's been building for 30 years
Yes ! PANIC!!!If you’re a Sellor and have a high mortgage. I would suggest cutting the prices as much as you can and selling your property and walking away. After April the snowbirds will totally stop buying and prices will come down. So be the first to cut the price and sell now. Even with slightly lower interest rate. It can stop what is coming. The Crash is coming. Just like when they tell you a Storm is coming. Better to prepare get ready. Take the loss instead of losing everything. Price you home at 20-30% less and sell. Cause soon it won’t be you choice. The prices will be slashed and Cape Coral has more AirBNB s than anywhere in Florida. Be Smart!!! Prices are way too inflated.
LOL. Panic only if you HAVE to sell. If you are thinking about it and you are 50/50, you may wanna do it NOW or wait for the next cycle (10 years?). The Cape has been the epicenter of disaster the last go around and its looking that way again. Doesn't mean markets like Naples is safe. Contrary. Last go around we lost 40-50% value (rightly so). My office and resources are tracking a repeat scenario.
I would never buy anything in Cape Coral - many infrasturcture problems there- hit bad by Ian- over priced- as for Naples prices falling in a slump I personally know of someone who had to sell their condo in Naples and lost $250K in the last slump. It can and will happen in the future when the hype about the region ends and the reality of overcrowded and overpriced residences sets it.
The big builders are still finishing up planned homes from the Boom. Once those hit the market and cant sell and become rentals...i see 2008 . Add in the box builders are selling Adjustable Rate Mortgages...that happened in 2008....get your bills paid or paid up and buckle up. Gonna be a rough one
Lol..not even comparable to 2008. The supply in 2008 was multiple times higher and the foreclosure rate was at a whole other level. Yes, the economy is shaky but the boomer generation (which 80% own their home) and people who own at less 4% aren't going anywhere. Are prices going to drop? Yes...more like settle but not collapse. Back then people where trying to get out of mortgages....right now people are still on the sidelines trying to get in
2008? Im more inclined to 2018 prices, What is your data for this. who knows! that would be nice to see prices in the 60k to 90k range, but can you imagine all the pain people would have, well it will be as bad as now with people and affordability
@@alejandrobaez1249 you might want to look at the refi demand...if there are so many comfortable 4 percenter loans out there then why would people be doing refis? Maybe excess credit card debt? It doesn't take a mortgage industry collapse to cause a mortgage industry collapse...if people can't pay the note they may want to say but the bank will say otherwise....Some many sunshine realtors have been saying...This time it's different...6 months ago I was hearing.. The Florida market is in too high of demand...now...well, maybe prices will correct a little...My bet is a 20 to 30 percent correction minimum....Nobody can afford but the banks will do the ARMS like they did back in the day..oops, They are already doing it but call8ng it another name...
If you can afford to hold the property ..dont panic
...if you live paycheck to paycheck....panic!
True….
No offense my friend but didn't you get licensed in 2017? Realtors who did not experience the last late great unpleasantness have no concept of what is coming and why. I appreciate you need to make a living but .....
True I’ve been license since 2017 but been investing in real estate since 2002 so yeah I know 2008 really well. I hate this phrase but this “time is different” I do believe we’ll see another 10 to 15% drop in this market no more no less, would love to see what your office is tracking if you have a video put the link here would love to see your input, by the way I don’t have to sell real estate to make a living mine is already make lolololol love helping people so they could achieve what I have done it’s easy and not that many people help others get there,
I also would love to know what you think is coming next ...
@@tedpeacock3945 You want to know What I think is coming next?
@@tedpeacock3945 Me? Or Manny?