North Fort Myers On the List for a Major Housing Rebound
According to News-Press.com the next hotspot for a housing rebound could be in North Fort Myers. The housing construction market in southwest Florida is on the rebound and industry leaders are cautious to not repeat past mistakes. They certainly don’t want the market to crash again. The immediate future looks good and the trick is now for those in the real estate and development industry to be careful that we don’t create an oversupply in the market.
Real estate professionals are optimistic but cautious at the same time. By the years end a projected 6500 single-family and multifamily home permits will have been issued in Lee, Collier, and Charlotte counties which is a 61% increase over the 4000 permits issued in 2012. This is according to Randy Thibaut, president of Land Solutions Inc.
Lennar is one of the top 10 home builders in the area applying for permits in addition to Pulte, Centex and Brooks and Freund. The top communities for new permits include Riverstone, Lely Resort in East Naples and the Preserve at Corkscrew in Estero. This new housing recovery began in the Naples area and has moved northward with several new communities and developments and the North Fort Myers and Port Charlotte areas may be the next hot spots.
Whats contributing to the rebound? Thibaut says that “a decrease in available existing homes, artificially low interest rates, increased investor optimism, housing price equilibrium and decreases in local development all impact fees on new construction.”
At the Domain Group we are certainly seeing an increase in sellers and the new homes which buyers are flocking to. There’s something about a new home that buyers are scrambling for these days. This does make resale on existing homes more difficult for sellers but if they can compete with the model showrooms they are certainly in the running especially if they’re underpriced from those in new home developments. [Source]
Fort Myers Florida Real Estate Brokers
Domain Realty is an expert in Fort Myers Florida real estate, gated communities, coach homes and condominiums. For the ultimate in real estate services, customer care and buyer representation contact the experts at domain Realty. We are your Fort Myers real estate brokerage.
Jesse E. McGreevy P.A.
Realtor, Sales Associate
The Domain Group @ Downing Frye Realty
Mobile (239) 898-5329
Fax (239) 247-5139
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