Buying a home in the Fort Myers area can be a very emotional process. Home buyers have most likely spent many hours of their lives searching the Fort Myers or Cape Coral MLS for the perfect home.
A statistic by Herbert Research for HouseValues, INC revealed that home buyers typically spend 4 months actively searching for a home before actually signing on the dotted line.
60% of home buyers are finding their homes and their agents on the Internet. Home Buyers in Fort Myers have done their homework and have thoroughly researched the areas they could see themselves living in.
Why do well prepared home buyers have a hard time buying a Fort Myers home?
Unfortunately, once the Fort Myers and Cape Coral home buyer finds the perfect home and have become emotionally attached to it, 20 other home buyers have also discovered that very same home and are ready to place an offer on it.
Note: The Fort Myers News-Press reported yesterday that in some cases Fort Myers listing agents are seeing 20-30 bids on one home!
Yes, you read that correctly! 20 -30 offers on one home!
Most of the homes getting multiple offers are in the $50,000 – $70,000 price range and are located in Cape Coral. It is becoming more and more challenging for home buyers to actually purchase the first home they place an offer on.
The article also stated that bids on Fort Myers real estate and Cape Coral homes are beginning to exceed the listing price. Many listing agents have adopted the strategy to list the home below market value for a “quick sale”. This strategy is working as much of the inventory from 2008 has been absorbed. This means that there is a high demand for homes in this price range and less of a supply.
Adopt a GREAT strategy when buying your home!
- Find a Fort Myers Realtor you can trust and depend – one who answers their phone and understands the current market conditions.
- Have your “proof of funds” or mortgage pre-approval letter in hand.
- Be ready, willing and able to sign on the dotted line when you find the perfect home. Chances are, if it is the perfect home for you, it is the perfect home for someone else as well.
- Get to the house FIRST. Be ready when your Fort Myers Realtor rings your phone and tells you that a house just went on the market and you need to see it “NOW”. As a buyer, time is your enemy in the Fort Myers and Cape Coral Real Estate Market.
Fort Myers and Cape Coral home prices are still low, however the inventory is clearing out fast. On the financing side – mortgage interest rates are slowly creeping up, and the $8,000 first time home buyer tax credit is set to expire in November.
If you’re looking for Fort Myers Real Estate or the perfect Cape Coral, Florida home - give me a call at 239-823-5280 or email me today. The sooner we connect, the sooner you can have first pick of some of the most special real estate deals on the market!
This guest post appears courtesy of Fort Myers, Florida Realtor Joy Goushaw. If you’re looking for a home in the Fort Myers, Sanibel Island, or Cape Coral areas – be sure to contact Joy and her husband Shane to check out the latest Fort Myers area real estate listings.
I hope you found this post useful! As always, if you or anyone you know is in need of a local Florida mortgage loan originator, I’m your guy. Call me at 888-859-7418 or apply online for your Florida mortgage. We’ll keep you posted and let you know when it’s time to pull the trigger!
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