Mike Cathell

Fort Myers has made the news a lot recently. The national news make it sound like we should all abandon our homes and go running back up North. If they would just come down to check it out, they would delightfully surprised at the values to be found here. The prices are phenomenal and European and Canadian investors have been coming in packs to see what SW Florida is all about. One thing savvy investors know (insider secret!), the last area to be hit with a downturn is usually one of the first to recover! That's SW Florida!

The so-called "burst bubble" started in Texas and California long before it hit Florida. Yes, we were hit hard and lead the country in foreclosures and lis pendens filings. The Lee County Clerk has reacted and streamlined the process as well as bringing 9 judges out of retirement to help. I am not cold-blooded by the way - a large percentage of these homes are still abandoned spec homes that need to go away. Families still live in their homes are being given generous extensions and opportunities to work with financial institutions to stay in their home.

Enough rambling! The message to investors and Baby Boomers is - values abound! If you do your homework and don't mind a little sweat equity, there are houses selling for less than $29 a square foot! For first time buyers, there are tax credits and down payment assistance. Special financing is available in some of the really stressed areas of Lee County. The inventory is dropping! Over 900 homes were sold in Lee County last month! Get your customers here! Give them a chance to get some of the best priced deals around! Oh yeah, we have lots of sunshine and beaches to throw into the deal!

Fort Myers has made the news a lot recently. The national news make it sound like we should all abandon our homes and go running back up North. If they would just come down to check it out, they would delightfully surprised at the values to be found here. The prices are phenomenal and European and Canadian investors have been coming in packs to see what SW Florida is all about. One thing savvy investors know (insider secret!), the last area to be hit with a downturn is usually one of the first to recover! That's SW Florida!

The so-called "burst bubble" started in Texas and California long before it hit Florida. Yes, we were hit hard and lead the country in foreclosures and lis pendens filings. The Lee County Clerk has reacted and streamlined the process as well as bringing 9 judges out of retirement to help. I am not cold-blooded by the way - a large percentage of these homes are still abandoned spec homes that need to go away. Families still live in their homes are being given generous extensions and opportunities to work with financial institutions to stay in their home.

Enough rambling! The message to investors and Baby Boomers is - values abound! If you do your homework and don't mind a little sweat equity, there are houses selling for less than $29 a square foot! For first time buyers, there are tax credits and down payment assistance. Special financing is available in some of the really stressed areas of Lee County. The inventory is dropping! Over 900 homes were sold in Lee County last month! Get your customers here! Give them a chance to get some of the best priced deals around! Oh yeah, we have lots of sunshine and beaches to throw into the deal!

In it's recent issue, Forbes magazine posted the worst cities in America to ride out the recession. My little city of Ft. Myers made number two on the worst list. Thanks Forbes Magazine. No, really I mean thanks!

Why is being worst, a reason for thanks? With unemployment up and foreclosures on the rise, house values are dropping rapidly. Banks are becoming more willing to discuss ways to keep homeowners out of the foreclosure process. Good news? Now is the time for investors to be looking at houses in SW Florida. Mortgage rates are still at a good level. Bargains are everywhere. Developers are offering amazing incentives to Realtors and buyers. Realtors everywhere should be offering these investment properties to their valued clients.

Home sales in Lee county (SW Florida) have increased every month for the last 9 months. Available inventory has gone from a 21 month inventory to a 9 month inventory according to the local news. Florida Realtors have seen the silver lining in being one of the worst. Give us a call and we'll help your clients!