Cape Coral has traffic that takes 1.5 hours to get across the Ft Myers bridge. Insurance costs, property taxes, artificial equity depleting in homes, price drops, pandemic movers recognizing they don’t want to live here, homes sitting on the market not selling for pandemic prices sellers think they’re entitled to, no jobs that can support your lifestyle since it’s a tourist town, people bleeding underwater and hurricane season only a few months away and going to be one biggest on record. Can’t wait to see what happens.
I own 8 ltr’s in Jacksonville. Nothing too special about them other than they have appreciated very nicely over the years I have owned them. Slow and steady wind the race sometimes
Well put together video, thanks for sharing. One thing to note with Cape Coral is that hurricane Ian (Category 5) impacted it in Sept 2022 nearly wiping the city off the state most likely prompting the large drop.
Am long term Landlord, Flipper & RE Broker near Ocala. More like Jacksonville than the other 2 here. No price OR rent price drops here, yet. But inventory is growing & time on market is growing. Prices will soften if those 2 things continue. Rates seem stuck over 7 and that is making soft spots in the market. I have only sold this year, mostly by remodeling & disposing of rentals. I will need to buy a several by year end.
Cape Coral and SW Florida is the most hurricane prone area in Florida - 33 hurricane hits in the last 100 years. Why build homes there at all? Eventually nobody will be able to acquire or afford the insurance...
In my area of Florida, there is definitely going to be an over supply of multifamily for at least the next year and a half to two years. I’m in a GC and there are 5 different large, multifamily developments, being put in my area alone. plus there’s at least three more in the pipeline that I know about about. So rent in my area is definitely going to decline in the near future.
@adanam6377 relax, im being selfish, thats why. I dont need investors from all over the country coming to jax and inflating housing prices while im trying to invest. Lol
Cape Coral has traffic that takes 1.5 hours to get across the Ft Myers bridge. Insurance costs, property taxes, artificial equity depleting in homes, price drops, pandemic movers recognizing they don’t want to live here, homes sitting on the market not selling for pandemic prices sellers think they’re entitled to, no jobs that can support your lifestyle since it’s a tourist town, people bleeding underwater and hurricane season only a few months away and going to be one biggest on record. Can’t wait to see what happens.
True
I own 8 ltr’s in Jacksonville. Nothing too special about them other than they have appreciated very nicely over the years I have owned them. Slow and steady wind the race sometimes
You need to check out OCALA. Top 5 fastest growing city in the US. Half of South Florida (Miami) is migrating there!
Well put together video, thanks for sharing.
One thing to note with Cape Coral is that hurricane Ian (Category 5) impacted it in Sept 2022 nearly wiping the city off the state most likely prompting the large drop.
Am long term Landlord, Flipper & RE Broker near Ocala. More like Jacksonville than the other 2 here. No price OR rent price drops here, yet. But inventory is growing & time on market is growing. Prices will soften if those 2 things continue. Rates seem stuck over 7 and that
is making soft spots in the market. I have only sold this year, mostly by remodeling & disposing of rentals. I will need to buy a several by year end.
David the thing in Cape Coral ir related to the 2 Hurricane that they got in the last 3 years, specially the last one.
Cape Coral and SW Florida is the most hurricane prone area in Florida - 33 hurricane hits in the last 100 years. Why build homes there at all? Eventually nobody will be able to acquire or afford the insurance...
In my area of Florida, there is definitely going to be an over supply of multifamily for at least the next year and a half to two years. I’m in a GC and there are 5 different large, multifamily developments, being put in my area alone. plus there’s at least three more in the pipeline that I know about about. So rent in my area is definitely going to decline in the near future.
Great video! More like this please. Texas next?
I’ve been saying it for the last few years but I feel like Northern Florida is going to be experiencing some serious growth with a lot of opportunity
You mean South Georgia!
For me Orlando is working really well. For sure south West cities like cap coral were impacted by Ian but I guess it s just a short term effect. ?
Still waiting on the NY/NE metro area episode Dave
YOU DONT WANT TO INVEST IN JACKSONVILLE, GO TO TALLAHASSEE
Tell us why?
@@adanam6377 because i live in Jacksonville. Lol
Just because you live is not enough. Give us the why?
@@adanam6377If he’s a renter, he doesn’t want competition on for sale rental properties to drive rents up.
@adanam6377 relax, im being selfish, thats why. I dont need investors from all over the country coming to jax and inflating housing prices while im trying to invest. Lol
David I will pick Cape Coral the reason why are you sick and holding it said they have a special assessment quiz stereo 34,000 send a text is well