Fort Myers Real Estate Makes National Headlines

Fort Myers area Real Estate made the national Real Estate news radar, again. In the article published in USA TODAY, there were some positives and negatives. If you haven't read the article, click on the link and read it. Then, come back and allow me to give my perspective.

It is true that the rate of sales decreased in our area. (Positive note: Sale Prices were up) This decrease was expected, due to the expiration of government incentives for home buyers. Not only did the expiration slow sales, but we also had a "surprise" oil spill scare. I am partial to believing that our slow down was mostly oil spill related. I am waiting for someone to plot a chart of pending sales during the time frame of the oil spill to be sure. From memory, the beginning weeks of the oil spill did not produce a noticeable dip, but around the end of May, it became evident there was an issue of buyer confidence. We did have some clients taking the "wait and see" approach. Around the beginning of June, it started to become clear that our area would not have any effects of the oil on our beaches. Early on, I published a post about the "Forbidden Zone", a theory that the coast of Southwest Florida would be protected from surface spill. As of this date, our beaches are perfectly clear. The point is, now that the oil leak is being permanently shut down and the oil continues to stay far from our beaches, we should see some of the "wait and see" buyers get off the fence.

There was also a statement in the article that "We haven't seen any signs of job creation taking place".  At the Chamber of Southwest Florida Luncheon in July, Commissioner Ray Judah spoke of several economic achievements that took place during the last 18 months. Lee County has seen 10 new companies come into the economic sector, bringing with them 1,133 new jobs with an average salary of $58,000. (Above the median)  At the Luncheon, it was revealed that with the $12,700,000 investment so far, there would be an estimated $484,000,000 return.  He also spoke of the benefits of new Red Sox Stadium and how it will play a role in economic expansion. Lastly, Ray Judah mentioned the opening in October of the Algenol plant off Alico Road. 

I do concur that the McGregor area of Fort Myers is a hot buy. Our office is located at 13611 McGregor in the midst of some great neighborhoods. Take a look some of these great Gulf Access Homes in Fort Myers, off McGregor Blvd. If you see anything that interests you, give us a call at (239) 415-6500.