Cape Coral FL Boating Info

I am very familiar with Cape Coral. Where is your new place at?

What the others are referring to is the real estate market has taken a dramatic drop since early 2006. If the property is priced correct you may be ok.

The number of homes sold has been increasing, but with a 30% to 40% price drop from the peak in 2005.

Direct access (to the gulf) homes have been holding somewhat steady.

Homes without a canal and/or behind bridges have been beaten up.

Let me know if you have specific questions regarding the area (land and water).

Ken
 
Just as a followup, I am believing (hoping) it is near the bottom. We just purchased a new lot down by the river hoping to build in the next year or so.

We paid 50% of the listing price shown in 2005.

This all depends on the market as we need to sell our current house.
 
As mentioned above the Cape Coral area has been especially hard hit by the housing problem. There were thousands of units built for "investors" that have defaulted. Investing in this particular area is risky at best. Everyone assumed that the purchasers were baby boomers intent on moving to Florida. The assumption was correct as to who was signing contracts but it was wrong as to the intent. There were people from all over the country rolling the dice on the flipping game. Now there are folks in Minnesota, Michigan, Wisconsin, Ohio, pick a northern state, who can't make good on their contracts. The absorption of this units is anyone's guess.

As someone said above, waterfront is waterfront and gulf access is still gulf access. I would differ only slightly in the fact that you can buy property at 20-30% below its high on some nice water front locations.

This is a complex problem and I have simplified some of the concepts but you get the idea. I wouldn't touch anything in Cape Coral unless you are willing to hold it for 10 years minimum. Since the average person owns a property for 5 years or less I wouldn't think that most people should consider it but that doesn't mean everyone. There are certainly some very attractive deals to be had and it is Florida so how can you go wrong?

I guess the bottom line is, invest or buy with your eyes wide open.
 
Thanks Ken, Yes we just purchased a second home in the Southwest section of Cape Coral. It is located on a wide canal and offers direct 15 minute gulf access, the home is brand new, and yes the builder has been stuck with it since 2005. I guess I should also say that I purchased it for 50% off what the homes in the area were going for in 2005, and bought it directly from the bank, before it was going to forecloseure. Deals are still out there, you just have to look for them. We have a brand new 80' by 20' dock, captains walk, tiki hut and 10,000 lb boat lift. We have no plans to ever sell the place, water front on the gulf of mexico, is a dream come true. Thank You Boat US.

missnmountains said:
Just as a followup, I am believing (hoping) it is near the bottom. We just purchased a new lot down by the river hoping to build in the next year or so.

We paid 50% of the listing price shown in 2005.

This all depends on the market as we need to sell our current house.
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Welcome to Cape Coral! I have a house there as well out in NE.
 
Charlote Harbour and Boca Pass are some of the best fishing and boating you will find.

Cape Haze Marine Max gets a double thumbs up from me.
 
missnmountains said:
CSR Get together on the Cape over Christmas? Any interest?
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Im out in Atlanta till feb.. But after then sure for me :)


For everyone who trailers in cape the city has annual ramp passes for around $20 at city hall. So if you dont already have one id suggest going and getting one to save the $5 per trip charge :)
 
The ramp fee at the beach went up to $10.00 per launch, I launched Nov 2nd, and will remove the boat next May, to take back up to NY for the summer. I am going to be down for Christmas and at least all of January, so if you set it up, we will come.
 
Welcome to Cape Coral! Have a house in the SE on a 180 foot wide canal 10 houses from the river. Great place to boat. Was there 2 weeks ago and went to lunch via boat everyday. Parrot Key in Mantanzas Pass, Cabbage Key in Pine Island Sound for a "Cheeseburger in Paradise", Mucky Duck on Captiva (anchor in knee deep water and walk up on the beach for a picture with Santa!), and of course RumRunners in Cape Coral. Wishing I was there right now as I'm in Mass. and it's 22 degrees outside! Good luck with your new house and enjoy the weather this winter!
 
Thanks. I just got back here to read this. Update. We decided to leave the boat in the Cape year round. We come down every 5-6 weeks and stay a month or so. I love the Gulf area. Been to Parrot Key, Cabbage Key with the dollar bills, ect.
 
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