An Exception In The Real Estate Market Crisis

An Exception In The Real Estate Market Crisis

Generally put, the global real estate market is in a total deadlock with a few exceptions. One of the most important ones is in Florida, to be more specific - Cape Coral. The city is listed number 1 out of top 25 foreclosure cities in the United States and for this reason; a lot of properties are available at highly discounted prices, making them great for an investment.
If you do not know what foreclosures are we will try to explain - foreclosures are properties that are available at 10 up to a whopping 50% discount from banks and government institutions that are in need to recover their unpaid loans and/or taxes. They are not looking for a quick profit out of it as they are not into any real estate business whatsoever and thus they sell the properties just to recover their mortgage amount. Think of it like a leasing issue - someone purchased a car in leasing but did not had the money to pay all the rates, it is exactly the same situation.

There are many reasons why people invest in Cape Coral, we will just name a few:

1. The biggest annual Independence Day festival on July 4th. It is an incredible fireworks festival also known as Red, White & Boom;

2. The annual Oktoberfest held just like the original in Germany by local German-American club since 1985;

3. Festival of Arts - this festival is held on Cape Coral Parkway and year by year it attracts thousands and thousands of visitors. About 300 craftspeople along with artists participate in the festival, making it the biggest art festival in all Southwest Florida;

4. Education - three schools by Lee County school District are fully operating plus the newest school is Island Coast High School which provides quality education to children making Cape Coral a dream come true for both parents and children;

5. People - we could not have left out the people who are warm and friendly. Some renowned people are residents of Cape Coral like actress Angela Watson, NFL Player Greg Spires and the famous talk radio host Bill Cunningham.

If choosing where to live or invest your money is not that hard, actually buying a property needs a lot of attention. The first step is to secure the finances in order to get pre-qualified earlier which will increase your chances for a good bargain. You must know that you can buy foreclosed property at an auction, from the seller directly, or by collaborating with a real estate firm, no other way possible, or at least no other legal way.

Last but certainly not least, inspect the property thoroughly. Get an appointment and check the plumbing, heating, termite problems and so on. There could be hidden flaws that you will discover after you buy the house and we all know how unpleasant that can turn out to be.

Of course, if you do not want to move in, you could think of it as an investment - buying a property in order to rent it to others, it has been done a million times but it still is a legal profitable decision. The prices will certainly increase in the upcoming years so why not purchase a home now, rent it for a few years and if then you are in need of some serious money, sell it for a solid profit, it is almost a certainty.

All things considered, Cape Coral offers the best of both worlds - a great location to spend a vacation or to live permanently and of course a profitable investment. Cape Coral is still a real estate dream come true even in these hard economical times.

Summary: The article offers a brief presentation of the real estate situation in the second largest city in Florida - Cape Coral.