by Mike Colpitts Some Fort Myers condos on sale in today’s real estate market are real Special deals, even bargains. Owners who want to sell their property are lowering their prices to capture today’s buyers. The inventory of properties for sale has gone up more than 200% in the past three years. Some owners are certain the condo market is crashing.
The Fort Myers condo market has experienced a huge increase in condo association dues. Many developments have seen their monthly fees increase more than 100%, putting pressure on condo prices. But where there are higher association dues, there is also opportunity for investors.
As a result, many Fort Myers condos on sale are special deals for investors but finding those deals aren’t as easy as many people might think. It takes the kind of years of experience that Mike Colpitts has to find the best deals. In neighboring Cape Coral and Naples the markets have also changed.
After years of double-digit appreciation, sales have slowed. There are more condos for sale in today’s market than in many years, making it a great time for buyers to negotiate a deal. Mike Colpitts expertise as a Certified Resort Specialist and an advanced degree in negotiations can help to assist you getting a great deal in today’s market.
The market appreciated at double digit levels for years. It was a booming market with an all time record period of low interest rates. In a survey of more than 83-million baby boomers surveyed in America, the majority said they wanted a second home or condo before anything else as an investment vehicle.
Baby boomers clearly want a better quality of life. New property owners and tourists are still flocking to Fort Myers. A large number are baby boomers. It demonstrates the long term demand for property in Fort Myers and the surrounding area. Property sales, which had flattened are beginning to pick up going into the summer market.
Condos and homes on the market come in two forms in today’s changing market. There are the owners who price their properties too high and are generally ignored by the buying public, and Fort Myers condos on special that are generally priced below market. There are some outstanding deals to be purchased in today’s market. When you’re looking for Fort Myers condos feel free to contact Mike with any questions.