So You Want to Buy a Cape Coral Foreclosure?
By Barbara Klare, Broker Associate, Jones & Co Realty
(Looking For a Real Estate Value in Cape Coral or Fort Myers?)
Yes, we all know the market in Cape Coral has tanked and this SW Florida city is the number 2 foreclosure capital of the country. Sales have been strong since June with September being exceptional. Most of these sales were foreclosures or short sales. The banks have finally gotten serious about getting these homes sold. The listed price is now the price the bank is certain to sell the home within 30 days. This is great news for today’s buyer. Short sales are also selling. 153 of the 451 homes sold in September were short sales. That is a dramatic turnaround in the lenders’ attitude. Is there room to negotiate? On homes $125K and under, I would say no. There is little wiggle room here. Most are selling close to 100% of asking price, often over asking price. The competitive price invite...
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