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Florida Real Estate Lehigh Acres

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					Looking for your retirement            previous years, choice and the            very desirable market for buyers to
home or to invest in Florida Real      ability to negotiate. When excess         purchase property right now.
Estate?                                inventory is absorbed by the end
                                       user, prices will naturally start to      An area heavily affected in favor
Look no farther, I am in the South     climb.                                    for the buyer is vacant land. SW
West Florida Real Estate market                                                  Florida has hundreds of square
helping people buy their retirement    The median sales price for an             miles of land that was originally
homes and investment property in       existing home in Lee County was:          platted and sold in the 1950's. The
Lee and Charlotte counties. I work                                               land did not appreciate for 50
for Century 21 Sunbelt Realty, Inc.         •    $86,600 in 1995                 years. 3-5 years ago, you could
in Cape Coral, Florida, that as a           •    $112,300 in 2000                still buy the land from original
firm, is number one in the world for        •    $278,200 in 2005                owners for around $1,000. Then,
units sold in 2005 throughout the                                                there was a surge in the market
system worldwide out of 7,680          Source: Florida Association of Realtors   caused by heavy investor and
offices.                                                                         builder interest. The supply that
                                       SW Florida prices have peeked             was listed on the MLS system was
My name is Andrew Kovacic. Call        sometime around August 2005               short because it was never in
me anytime to discuss your SW          after a 5 year run up, and the            demand. An example of this is in
Florida Real Estate needs at 239-      softened market has caused prices         Lehigh Acres, Florida, which
738-1581 or 216-235-2102.              to come down within the last 6            measures 95 square miles. In
                                       months.                                   January 2003, quarter acre lots in
For more information on the area,                                                Lehigh Acres were listed under
real estate, maps and to search for    Each day, around 400 houses go            $3,000. In June 2005 the same
property through the MLS systems       on the market, but only 100 are           lots sold for an average of
of Lee and Charlotte county, go to:    sold. Every day about 300 owners          $47,000, just two and a half years
                                       are reducing their sales prices.          later. This market rush was
www.AndrewKovacic.com                  Sales prices in the past three            caused by investors and builders
                                       months of the year headed down            buying up the land that was
What a difference a year makes!        from $358,560 to $307,184.                available for sale. During this time,
                                                                                 real estate agents contacted land
The stellar performance of the         To further illustrate, in January         owners notifying them of the high
Florida Real Estate market over        2005, there were 2,906 homes on           market prices to list their property.
the past 5 years was fueled by         the market, and about half of them        So many people agreed to list their
investors’ “gold fever”. Investors     sold. Almost one year later, in           land, the market became
can fuel the market, however it        December 2005 there were 6,662            extremely over saturated with
takes users to sustain the market.     homes on the market and only 617          thousands of lots. There are
Growing inventory and lessened         of them sold. In one year, there          currently 8,216 lots actively for
investor demand indicates we are       were twice the amount of homes            sale right now in Lehigh Acres.
now in a buyer’s market here in        on the market, and a third less           With an over abundance of supply,
SW Florida. Buyer’s may want to        sales.                                    and builders and investors no
wait for better prices, but 2006                                                 longer buying, prices are naturally
could be the best year to buy          The drop in buyers buying                 coming down. This is a reflection
because the buyer will have two        property, plus the increase in            of what is happening in the South
things he didn’t have in the 5         property available is creating a          West Florida real estate market.
                                        Lee and Collier County are             condo’s under $120k and
The Baby Boomers are coming             surpassing the rest of the state in    waterfront gulf access condo’s for
                                        new stores with 4 million square       under $250k
The SW Florida population could         feet in the works for 2006 and
possibly double as boomers will         2007. The growth is driven by the      Call me today to discuss your
relocate to South West Florida for      area’s surging population. Lee         needs 239-738-1581 or 216-235-
the next 25 years. Lee County           county has 514,000 residents, and      2102.
already is growing at 25,000            is expected to grow to 600,000 in
people per year. Altogether, about      four years by 2010. That equates       Do you know someone who
4 million baby boomers are              to 60 people a day moving into Lee     would like a free subscription to
expected to relocate to Florida         County.                                this report?
when they retire. Typically, one in       Cape Coral’s population recently
four retirees move to Florida for its   topped 150,000 which means             This report, available free of
climate and lack of state income        about 1 in four people in Lee          charge, is distributed every couple
tax.                                    County live in Cape Coral. To          months to update on the latest
                                        contrast, the population in Cape       news and market conditions of
South West Florida has what             Coral in 1961 was 550. The             South West Florida Real Estate. If
boomers want - health care              population of Cape Coral in 1980       you know of anyone who would
services, a convenient airport,         was 32,000. One third of Cape          like a free subscription by mail or
malls and upscale shops, colleges       Coral’s population has arrived in      email, either call me at 239-738-
and a university, plenty of outdoor     the last 5 years. Once a retirement    1581, 216-235-2102, or sign up
activities, nature trails and           haven, Cape Coral is populated         on this Website:
beaches all under plenty of             with thousands of children who
sunshine and an annual average          play soccer, baseball and football     www.AndrewKovacic.com
temperature of 74.4 degrees             on city fields. They attend three
                                        public high schools, five middle
Lee County’s growth and                 schools and 10 elementary
Economy                                 schools. Home building is soaring
                                        with more than 7,600 permits last
Lee County’s jobless rate fell to 2.3   year. About 60 percent of the city
percent in December, the lowest         remains vacant. Buildout is
mark in 6 years as hiring boomed        expected in 2080 with 413,000
in construction and the hospital        residents.
industry. Lee County continues to
be one of the healthiest economies      The Bottom Line
in the state. Lee County is
nationally ranked in the number of      The bottom line is if you were ever
new jobs being created among            interested in buying a home in SW
large counties, according to a          Florida, now is great time to do it.
study by the US Bureau of Labor
Statistics.                             Vacant land is available uder $40k,
                                        there are 3 bed 2 bath homes in
                                        desirable areas under $150,

				
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