In April 2009, Cape Coral registered the second highest level of foreclosures in the country. One in every 57 homes were served with Lis Pendens or foreclosure notices, a 30% spike from March 2009. Not to be too alarmed because we are finally weeding out a good portion of the possible foreclosures in Cape Coral and Ft. Myers, but the current status is a 12% drop in foreclosure filings since Q4 of 2008. The rising trend in foreclosures is requiring the former homeowner to make the transition to renting again. The problem is, renters are faced with problems in rental property. The foreclosure crisis has left some homes that have been empty with deteriorating conditions.

Recently, banks have adopted a new program where they are making a valiant attempt to maintain the integrity of the neighborhood, ie. lawn service and pool service where needed.

Banks have levied a rule recently in Cape Coral and Ft. Myers, and actuall of Florida foreclosures and real estate owners. Now, due to the foreclosure crisis, the city has been subjected to droves of real estate investors buying bottom market priced homes. In the past, some investors would rent their homes and not maintain the exterior integrity. This could ultimately lead to negative value adjustments to the neighborhood. The new rule requires real estate owners to maintain the integrity of their homes, a huge boost to the local market.

Cape Coral and Ft. Myers is an ideal location for anyone. Regardless of the crisis, we are still SW Florida, where you can enjoy some of the world’s best fishing, boating, and water activities all at the same time as enjoying year round warm weather. Lush landscaping and palm trees line many streets and the SW Gulf Coast of Florida provides a similar, yet much more affordable location than the expensive Palm Beach and Miami east coast side.

Homes in Cape Coral and Ft. Myers can be purchased at 80% discounts from the bank. Real estate investing has become fun again, but not every deal here is a good deal. There are so many aspects of this to look into.  Be sure to use My Realty Source by calling (239) 872-5107 and learn how you can buy a great deal in a Ft. Myers and/or Cape Coral foreclosures.

If you are calling from NJ and are looking for our Montclair NJ homes for sale section, please contact us for further details.

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