A large inventory means more choices.
As of the July 13 real estate report (Multiple Listing System), there are more than 4,100 single family homes for sale in the Cape Coral and Fort Myers area. For those looking to purchase land, there are more than 1,100 waterfront lots for sale in the Cape Coral area alone.  Rest assured there are many choices and options from which to choose.

It's a Buyer's Market.  
As of July, 2010 in Cape Coral – there is approximately a 2 year supply of inventory for homes priced over $500,000; as compared to one year ago when there was a 4.5 year supply for the same price range.  This means the market is improving.

Currently there is an 11 month supply of inventory for homes from $250,000 to $500,000. This also indicates a Buyer’s Market, however this range is approaching a more balanced level.

Inventory for homes priced below $250,000 is dwindling. If you’re looking to find a great deal, this is the time to move forward.  Whether you’re looking for a single family home, land, or a condo, prices are more affordable than ever. Home buyers can easily find a home or a lot in their budget and price range.

The following are 3 examples:

Interest Rates are cooperating.
Interest rates are still near historic lows. If you’ve saved enough for a down payment, have good credit and don’t plan to move in the next five years or so, buying today could be a smart move.  Waiting until you believe prices have hit rock bottom may not put you any further ahead if you end up missing out on today’s low financing costs.

Build vs Buy.
Another option important to mention is home buyers are now reviewing building a new home vs. buying an existing one. Recent studies indicate in some cases, home buyers can BUILD a new home at a comparable price of BUYING a resale.

With discounts and specials from builders, great pricing on waterfront lots, and low construction costs, this is also a great time to consider building.

There are many options to consider when it comes to investing in real estate. The best way to get started is to talk with an expert Realtor who can help guide you to the best solution for your situation. If you’d like to learn more, contact us for a detailed comparison, info@teamaubuchon.com or 239.542.1075.

Keep in mind, the decision to buy a home is a personal one that needs to factor in your own financial situation and lifestyle preference. While historically, real estate has usually appreciated in value over the long term, no one can predict the perfect time to buy.

Give us a call for more information at 239.542.1075, or visit our web site at: http://www.miloffaubuchonrealty.com/buy/.