The Cape Coral Florida Housing Market don't look GOOD | NEW REPORT
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- Опубліковано 26 лип 2024
- Is OUT OF CONTROL the Cape Coral FL Housing Market | NEW REPORT
Hey everyone, Manny here, your dedicated Pool home realtor, back with an exclusive look into the latest happenings in the Cape Coral housing market. Trust me, you'll want to grab a seat for this one because we're diving deep into what's really going on.
Whether you're already living in Cape Coral or considering a move, understanding the current state of the housing market is crucial. Join me as I peel back the layers and reveal the truth behind the numbers. From a slowdown in sales to a surge in inventory, we'll dissect every aspect to give you a comprehensive picture. Plus, I'll share insider tips and strategies for buyers and sellers alike, helping you navigate these challenging waters with confidence.
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They are still building too many houses in general...which will cause a worse crash..look at Northport overbuilding. WELLEN PARKetc....
People who owns homes locked in their heads the sale prices from 2022 and now they think thats the new baseline. That's why there is so much in inventory too.... If you bought in 2017 for 175,000 don't just assume you can sell exact same house with nothing done for 359,000 ....
Omg you wont belive what I've saw! homes that they bought it in April 2022 asking 150k more now. they're 190 days on the market CRAZY i guess they dont know the market have fall -18% since then
If a house costs twice what it was 4 years ago, how can it be a buyers market Manuel?
A housing market where the supply exceeds the demand is called a buyer's market. This means that though many properties are available, there's a shortage of buyers interested in purchasing them. These market conditions give buyers the upper hand over sellers, compelling the market to respond accordingly.
Hey everyone, Manny here, your dedicated Pool home realtor, back with an exclusive look into the latest happenings in the Cape Coral housing market. Trust me, you'll want to grab a seat for this one because we're diving deep into what's really going on. LIKE AND COMMENT !
You’re finally coming around to smell the Roses. Wait till you see prices from June to August. Prices will really start getting good by August. So if you need to sell. Heavily discount your home. Per sq ft 275.00 to 320.00 . If not hold on to your home for another five years. The market will come back. A Huge correction is coming. Get ready for opportunity if you’re a buyer. If not Panic Sell now.
It wont be that drastic!
Good job
Telling truths!
Hey Manual you are absolutely right competition is always nearby so never wait also that pool with the waterfall that was one of my favorite I’m always going to keep that one in mind you are the man manual… I am so ready to leave the state! 😄✨
Im working hard to buy it I love that house thats my favorite that waterfall is unique
@@YourPoolHomeRealtor oh yes I think you should honestly it is a gorgeous house I really that waterfall with property, gorgeous house. ✨😄😄
I think there's two properties on the market by the same builder with that waterfall feature. I've only seen that once before on a Phoenix house I looked at and loved it in all cases for the look and relaxing sound. I've found it odd nearly all the CC homes have pretty basic pools, and not much in the way of jets, lighting, water features compared to other markets. Would like to see a builder put that feature in a larger home, I'm sure it'd be a nightmare to plumb that in after the fact on an existing homes pool and structure.
@@SShepherd Hi the bigger problem building a pool with all the bells and whistles is the $$$$, The cheapest pool you see is around 60k to 70k in today's market, 3 year ago that would be 35 to 40 if it had a cage
House prices are finally falling, which makes me personally happy. Even though I own a beautiful waterfront home in the SW of CC, I'm happy to see home prices fall. Property tax has more than doubled in the last 10 years due to higher valuations...
I think our correction will be early 2020 prices, Thats will be our bottom That my prediction Thank you 🙂
@@YourPoolHomeRealtor ^ This. Anyone that has experience in the market or has analyzed it, this is not the 08' '09 situation. What it will come down too is all the free money injected into our economy, unprecedented stock market gains, and inflation of boomer equity in existing homes coming back down to 2020 prices like you're talking about. Every city that's had explosive growth in history due to an influx of new buyers driving home prices up 50-100% beyond the means of local workers with average salaries always comes back down to equilibrium once that external demand goes away. That's where you're left with the local service sector job workers or middle and under class buyers in the $50-100k/yr range as the majority of remaining buyers. They can and do get pushed out farther out of the city into cheaper homes or rentals, but inside the city when homes start getting long 5-6+ month Days on Market with huge increases in inventory you'll see those prices start getting relatively affordable again. We run in this cycle every 8-11 years so it's just a matter of timing in most cases.
@@YourPoolHomeRealtor Yeah but you could finance at 3.5% in 2020... so even if prices fall to 2020 prices, carrying cost would still be significantly higher considering rates are pushing 7% now.
@@jonathantaylor6926 2020 median price homes at 275k with 5%down interes rate at 7.1 taxes and insurance will be 2,382 today's prices 424k with 5%down interest at 7.1 and taxes and insurance is 3,605 . 2020 interest we might never see that unless something similar happen. In my opinion the consumer need to be paying somewhere for a media price home 1900 to 2200 per month base on what Florida payrate and affordability is. I think the best way to put this is affordability have to be in 90% to 100% now is at 34%
Florida real estate will eventually get wrecked. Florida isn't built to weather recession. Farming in the interior of Florida isn't enough. That state lives and dies off tourism. The Florida economy will be garbage once a prolonged recession hits. Taking a family of 4 to Disney cost 10K these days. Spending money on vacation is way low on the list once times get tough.
It’s crazy right?
My parents sold their Cape coral house for $625K in 11/2021 and it recently was flipped and Listed for $949,000... After like 9 price cuts it is now listed at $629,900 lol.
Also the work they did looks so bad! Really a shame, the house used to have so much character and some rich people from Wisconsin came in, took out all the beautiful plants, changed the roof from tile to asphault shingles, and painted the house brown... it looks so bad now lol.
The new owners are definitely taking a big loss on this property now.
wow yeah, its a shame!
if rates come down next year, it is going to be insane!
You might be right check this reef I made!
facebook.com/share/r/UFAsiEGGZrM9TqHK/?mibextid=xCPwDs
When someone tells me to watch til the end, I always leave. bye
👋
Prices falling everyday on my Redfin and Zillow. You will be surprised. What will happen will be worse than 2008. Get ready to invest. Prices will be back to 2008. No stopping what is coming. It’s solid in the Data
Wao not good
Florida has always been boom and bust, it’ll keep happening the same way. Tourism based economy, predominantly service sector incomes, and of course second vacation or seasonal homes. With Airbnb rules changing, insurance spiking it has no choice really but to correct. Plenty of middle income folks that could “afford” the vacation home when it was rented every week when they weren’t occupying it personally. We’re in the limbo right now, where seller delusion is colliding with reality. Won’t take long to correct to the downside. Deals coming soon.
Taxes and insurance it's been a nightmare for second home and investment properties owners