Cape Coral Florida's Real Estate Guide

Everyone's got their take on buying investment property in Southwest Florida. Most of the information you'll find online is basic information that could be true for any area. If you want the inside information, from a real estate agent and property owner who lives right here, you've come to the right place.

First, before we talk about Southwest Florida specifics, it's important to mention the housing boom. Of course, we are all aware of the mad rush on the housing market which caused prices to soar to unrealistic levels a few years ago. Now that the dust has settled, some would think that real estate is no longer the place to put your money. Nothing could be further from the truth. The first rule of investing is to never follow the crowds, but to weigh out the facts for yourself. Real estate, especially Florida property, is prime for cash investors. Prices are extremely low and there's nowhere for home values to go but up. What about investors needing to finance? Perfect. It's also a prime time for mortgages. Interest rates are low and there's no better time to lock in an fixed rate. Most investors are aware of these financial bonuses, so let's move on to other details. 

Location

Of course location is always the first consideration, and it's a given that investing in Florida is a smart choice for any investor. Regardless of the economy or a somewhat unpredictable market, Florida will continue to be one of the top choices for vacationers and retirees. This fact alone puts Southwest Florida property at an advantage over the rest of the United States.

Think of it this way. Many properties in other states become hot spots for a season because of perceived value or economic trends as opposed to actual, long-term property value. Florida is one of the states that will remain valuable due to its excellent climate and the draw of waterfront property.

Okay, with that said, when we are talking about Southwest Florida in particular, what makes a good location? For the Greater Fort Myers and Lee County area, which includes Cape Coral property, here are the keys:

• Waterfront Property - Lee County, and especially Cape Coral, has miles of waterfront to choose from. Investors can choose between Ocean front properties, freshwater lake homes, and canal homes.
• Pool / Waterfront Property - You haven't experienced dream homes until you've seen some of the areas pool homes that also happen to be waterfront. Imagine lounging in your pool which happens to overlook a saltwater canal. That's common here, with prices under $200,000.
• Gated Communities - Unlike many northern states, Southwest Florida has communities for almost every recreational taste. Investors can choose between golf course, boating communities and retirement neighborhoods. Gated communities provide the finest in upscale living. Most have pools, sporting facilities, workout centers, bike paths and more.

Upcoming Legislature

Another consideration that changes the rules for investors is upcoming legislature. According to the Miami Herald, optimism is the word of the day. A property tax bill that will assist investors and new home buyers is on the agenda. Under the proposed new law, anyone buying a home from 2012 onward will receive an additional homestead exemption of half of the property value. If you aren't eligible for homestead, there will be an increase cap of 3%, which is much better than the current 10% cap.

Another bill plans to look at conducting commercial foreclosures outside the courtroom in order to speed along the residential foreclosure process and return them to the market. This bill will serve to help the Southwest Florida property market recover more quickly, but will allow less time for investors to grab a bargain. With this bill in the hamper, all signs point to right now as being the ideal time to invest.

More Inside Information

Other perks you may not have considered, which makes Fort Myers and Cape Coral properties prime for investors include the benefits for renters.

If you are investing, you may plan on renting your home for a number of years until property values rise. Compared to the rest of the United States, here are a few key benefits you may not be aware of. Any of these can be a draw for potential renters:

• School Choice - Unlike many of the northern states, students in Lee County enjoy school choice from K-12. A child will never become part of the system. Not only are the majority of the schools in Lee County rated A or B, but parents are free to choose from a variety of schools that target different academic strengths.
• Low Crime - Fort Myers and Cape Coral are community oriented, safe areas to raise a family or retire. Crime isn't low because of neighborhood watch programs, alarm systems, or strictly enforced rules. With 38% of the population in Cape Coral over 50 years old, the area is safer just because of the sense of community and friendly atmosphere. Not surprising, there isn't a run down, poverty stricken neighborhood in downtown Cape Coral, as is common to larger, urban cities.
• Still a CNN Money Magazine Favorite - Let's face it, people listen to advice of others. Cape Coral and Southwest Florida in general have a long list of "best kept secret" and "prime location to live" awards from various magazines. 2011 is no different. CNN Money Magazine has once again given accolades to Cape Coral property ownership by naming it among the Top 25 Places to Retire in the United States. Money magazine touts the Cape as a "paradise for water lovers with 400 miles of canals, half of which have access to the Gulf of Mexico."

Are there more reasons to invest in SW Florida and Cape Coral property? Of course there are. Some of them you'll discover on your own. Any way you slice it, there's no place where investors can get so much bang for their buck as they can in Florida.