It is great news that Lee County median sales price jumped 19%. What does that mean to the buyer looking to buy now? Did you miss the boat?
Short answer is "No." As of January 2010, Cape Coral and Fort Myers area real estate was dubbed as being under valued at about 37%. This jump in average sales price, still leaves our market UNDER VALUED.
If you are looking to invest in Lee County, give us a call to talk about promising projects. Currently, we are looking for a private investor to provide capital for New Construction. Our client is looking to spec on free and clear salt water lots, as soon as possible. He is able to provide a 50 percent loan to value ratio and pay 9% interest with a 2 year balloon. Call Jarrod Eister for details at (239) 851-7303.
Now is the time to take advantage of low interest rates and low prices. Fannie Mae currently allows an investor up to 10 loans. Requirements for a Fannie Mae loan are good credit, 25% down, and 6 months reserves. It seems Leveraging makes sense in this current environment.
Our next Blog will discuss the possible New Construction shortage. Is another construction boom on the horizon? (Obviously, we think so- how about Vacant Land for a long term 3-5 year hold. Property taxes are low, so why not dive into anticipation investments. Call us for CHEAP VACANT LAND!)
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