One of the first things that come to a real estate investor’s mind is what benefits a particular area has for them to maximize their ROI when investing the location. South West Florida is one of these locations backed with benefits and Cape Coral foreclosures in particular, is highly regarded as the right kind of area to invest in the real estate market.
In 2008, unless you were too young to understand or you were living under a rock, you were witness to the housing market crash that occurred. The decline meant a rapid increase in sales of homes and condos in Florida. Due to the major mark-down of listing prices coupled with the economic decline and unemployment that swept the nation; primary homeowners, vacation homeowners and investors that held mortgages on these homes in Cape Coral
were now finding themselves “upside down” in the market place. They hadevery intention of keeping their properties but soon found they had no choice but to make alternate plans to abandon the properties and allow them to becomeforecloses.
There were 44,345 houses and 14,797 condo units sold in the third quarter of 2008 which meant a rise of 33% and 55% in median sales respectively. The swift boost in sales of these properties indicated the flow of investors coming to Florida. Cape Coral foreclosures due to their location and amenities offered throughout the area offered investors an unbelievable opportunity which four years later continues to remain the case.
As the old phrase goes, “location, location, location” is key. Location in itself helps greatly with the overall success of a real estate investment. Cape Coral is a perfect site of consistent development which is more likely to execute a better result than properties that are in less desirable areas. The fact that the rental property market is in such high demand there only further aids investors in their decision making.
Florida as we all know is flooded with travelers and tourists year round which alsoattributes to the appeal of investing in the state. The tourism community not only greatly aids in the overall economy, it also paves the way to a constant influx of new eyes on the area giving it a greater opportunity for tourists wanting to become permanent residents. A family conscious, friendly community with a low crime rate is just icing on the cake for anyone interested in Cape Coral residency or investment.
Buying foreclosures in Cape Coral
is an excellent opportunity to profit from and real estate investors continue to take advantage of. The low-priced residential properties coupled with an incredible location, growing economy and family friendly and safe community makes it an excellent choice for investment.