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8/9/2009 5:46 PM UTC
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A Forum of Resources News and Answers to help listeners with the complex world of Real Estate today. Guests will bring new information and ideas to the forefront, answer questions, enlighten and educate on a weekly basis.
Original Air Date: 1/24/2009 4:00 PM UTC
Date / Time: 1/14/2009 5:34 PM UTC
Date / Time: 12/1/2008 4:34 PM UTC
Date / Time: 11/25/2008 2:28 PM UTC
LEE COUNTY: New numbers show October sales of existing homes dropped more than three-percent year-to-year nationally. Now, Southwest Florida is leading the way for real estate turnaround. While the numbers are encouraging, there is still cause for concern. In Florida, existing home sales are up 15-percent and the Fort Myers, Cape Coral market is leading the state with a 78-percent increase in sales from last year. "In Lee County, it's Black Friday everyday," Realtor Denny Grimes said. "You can buy a home here for basically what it would have cost 10 years ago." Grimes says September and October are typically the slowest months for home sales. But he says the deals are so good, many can't pass them up. Some home prices in our area are down 60-percent from their peak price. "Right now in our marketplace, we have over 4,000 homes that are priced under $100,000," Grimes said. Expensive waterfront properties are also becoming more affordable and moving off the market. For example, some properties at Sanibel Harbour Resort, once priced at $800,000, are now selling for $500,000. "This is one of the best places to put your money right now because it's something that's going to grow again," said Realtor Angelo Celmo. And while experts predict we're in for a good season of sales in the coming months as more seasonal residents arrive, we're not out of the woods yet. "We still have a lot of inventory," Grimes said. But have we hit rock bottom? Grimes says no. He thinks prices will still go lower, but not by much. His reasoning is that real estate will always be in demand in the Sunshine State. "It's the best weather, the best amenities in the country," Celmo said.
LEE COUNTY: New numbers show October sales of existing homes dropped more than three-percent year-to-year nationally. Now, Southwest Florida is leading the way for real estate turnaround. While the numbers are encouraging, there is still cause for concern.
In Florida, existing home sales are up 15-percent and the Fort Myers, Cape Coral market is leading the state with a 78-percent increase in sales from last year.
"In Lee County, it's Black Friday everyday," Realtor Denny Grimes said. "You can buy a home here for basically what it would have cost 10 years ago."
Grimes says September and October are typically the slowest months for home sales.
But he says the deals are so good, many can't pass them up.
Some home prices in our area are down 60-percent from their peak price.
"Right now in our marketplace, we have over 4,000 homes that are priced under $100,000," Grimes said.
Expensive waterfront properties are also becoming more affordable and moving off the market.
For example, some properties at Sanibel Harbour Resort, once priced at $800,000, are now selling for $500,000.
"This is one of the best places to put your money right now because it's something that's going to grow again," said Realtor Angelo Celmo.
And while experts predict we're in for a good season of sales in the coming months as more seasonal residents arrive, we're not out of the woods yet.
"We still have a lot of inventory," Grimes said.
But have we hit rock bottom? Grimes says no. He thinks prices will still go lower, but not by much.
His reasoning is that real estate will always be in demand in the Sunshine State.
"It's the best weather, the best amenities in the country," Celmo said.
Date / Time: 11/24/2008 9:29 PM UTC
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