Cape Coral foreclosures and filings are on the rise. Despite the government’s efforts to help bail out homeowners, the list continues to grow higher in Cape Coral. Still, Cape Coral has experienced a slight decline in foreclosure filings, thus now is the time to get in on the bids.
March 29, 2009 – It was in the headline news that prices shot up while Cape Coral foreclosures rates shot up as well. In Lee County statistics reported that one of every 65 homes in Cape Coral and Fort Myers received higher rates in foreclosed notices during February as ever recorded in history.
Yet, Lee County’s foreclosed filings are decreasing. Figures revealed that Lee County had over 1950 foreclosed filings during February. This is a decrease since January when there were over 2000 foreclosed filings. In December there were over 2200 filings.
Buyers who are searching for property sold below market value are encouraged to take action now since supplies are rising and the prices are dropping. Prices will increase later as foreclosure properties start to decline. Some people have already noticed price increases in foreclosed properties and it is related to the higher demands on purchase.
One of Cape Coral’s foreclosed property sold for $130K with 45 bidders offering $87k for the property. This is a huge price increase and it is expected to become even higher with more bidders getting in on the foreclosed action.
Homebuyers, buying homes for the first time are offered an $8k incentive on foreclosed properties in Cape Coral. This is a part of the Stimulus plan in which the first-time buyers will not have to repay the incentive.
There is plenty of information available on the Internet if you are a first-time buyer looking to take advantage of the stimulus deal.
Since super deals such as pre-qualifier loans, cash back plans, lower down payments, etc, are in place now is the time to look for foreclosed properties in Cape Coral. Don’t delay, since bidders are stepping up to the plate offer better prices for the same home you might be interested in.
Right now, Cape Coral foreclosures and homes is large and the choices are many. The demands however vs. the supplies are lower. The interest rates are low. Thus, if you are looking for foreclosed properties, now is the time to place your bids.
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Written by Alex Rolim.
