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Fort Myers is without any doubt one of the most fast developing real estate market in the United States. If we start looking at the figures from January 1st, 2008, up until now there have been more than 70,000 foreclosure fillings in Lee County. The inventory available is limited as sales average about 1,000 per month, which means that any investor who can grab one of the remaining properties can make a nice profit out of it. The city of Fort Myers, Florida is very diverse, but according to many real estate specialists, the best area has to be in the McGregor Blvd section. From the city’s downtown to Summerlin Blvd, that stretch of approximately 5 miles has a huge potential for real estate thanks to the fact that it is in the near vicinity of everything related to the waterfront, offering great accessibility. Here, an average rental property house can be obtained for about $100,000 to $150,000, while the rental rates situate at approximately $1,500. The capitalization rate is around the 8.5%, but you need to understand that the investment idea is not in this cap rate, but in the five year projection. At the moment, these properties are priced at what the vacant land valued at. After this 5-year period, it is very probable that you will get a substantial amount of equity in this house, with years of rental income. The exit strategy becomes very interesting as you can sell your home “as is” or use the equity in order to build-out the homes. Needless to say, this is a very popular area where the property owners are adding onto or their demolishing and rebuilding into larger houses. This is considered to be the “estate section” of Ft. Myers where the regular lot sizes are anywhere from a 1/4 to a 1/3 of an acre. Although you will be speculating in the real estate market, this is a low risk and high reward chance if you play your cards right. If you are not convinced, you need to know that the reputable Economy & Banking Magazine placed SW Florida the area with the most potential in all United States as far as job growth is concerned. After the first quarter of this year, the most transactions have occurred in the $150,000 - $200,000 range where the buyers are attracted to the newer properties in gated communities that are in a move-in ready condition. In the end, here are some figures of the real estate market in Cape Coral, Florida. As of June 2011, the median single family home price is $578,565 while the market action index is a buyer’s market. The median price per square foot for the properties is approximately $289 and there are about 212 properties available in this month. If you take all of these facts into consideration, it is no wonder that more and more investors are starting to turn their attention to Fort Myers, Florida, a place where investing money is low risk and great revenue sooner than you might have expected from a real estate market still affected by the 2008 economic downfall. About the Author:
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Investment Opportunities in Fort Myers
