It’s been so busy I have not updated you lately on retirement real estate activity and what we are doing. Let’s give it a shot:
I held an open house yesterday at Market America’s new construction home – The Olmeda and had over 30 couples visit. Traffic on McGregor was frustratingly heavy and the tourist season is in full swing. Future retirees are here and seem to be looking for their retirement home in earnest. I have 13 homes listed for sale along the McGregor corridor and three of them were held as open houses yesterday– and all were busy. This indeed in the midst of the first two tornadoes to touch the Fort Myers – Cape Coral area since well, forever.
I’m now working as an active agent/broker and am no longer running the company. This I leave to the able hands of Joyce Gregory and Obed Guzman. I much prefer to get “in the trenches” and work directly with clients. I’m building some homes, listing properties for sale, and working on www.retirementnext.com. Still a workaholic, I love what I am doing now, have a better focus and more of a spring in my step. I lost 30 pounds through healthy living and devoted wife (and perhaps just not having enough time to eat!)
The real estate market, while not over heated, is hot – at least in some price points. In the sub $300,000 price point, prices have risen sharply, in the $300,000 to $500,000 range there is a shortage of product, and in the higher ranges buyers have become more cautious. The stock market is pushing more investors to real estate but is also making them more cautious about the future. Money is still cheap however, and this is still fueling sales.
To search Fort Myers for homes in Fort Myers, click the search by map image below, be sure to enter the location and price range in the boxes offered. Enjoy.
I have been a huge advocate of buying new because of the energy efficiency, cost to own and pricing today. I don’t expect the attractive pricing in new construction to last, however, as the land bought (on the cheap) is consumed and has to be replaced by the builders with more expensive land.
I left the building business in 2005 when I sold Brixton Development. But today we are developing three single family homes along McGregor, One sold (On Fountain) , The Olmeda is just getting its
certificate of Occupancy and we stated showing the home two weeks ago and the third – a high end luxury home on the water -we are pulling permits for now.
Many of you know that we were intimately involved at The Oasis – luxury towers downtown. Two yeas ago we listed 76 for sale for a successive developer. Well, we shut down that sales center in June of 2015 as we only had a handful left to sell for him. Today there are now 24 resale and new condos available at an average price of just under $217/sf, with price points from $204,900 to $215,000 for one bedrooms, $225,000 to $274,00 for two bedrooms, and the three bedroom luxury homes range from $309,000 to $549,000. This average price is still below the cost to build. There is actually a three bedroom home at UNDER $180/sf. ($320,000) Great for retirement real estate…
MORE CONDOS DOWNTOWN
Jaxi Group just recently announced two new towers – Allure – Luxury Condominium Living on the Water (www.TheAllureCondos.com). They are just now only taking reservations – fully refundable to lock in the location and prices. Prices on 1 bedrooms vary from $251/sf (no river view) to $368/sf, ($263,000 to $468,000) Two bedrooms for ($280/sf to $377/sf; price points from $310,000 to $545,000) and three bedrooms from $271/sf to $586/sf =(Price points from $630,000 to $2,250,000) Completion will not be for 24 months.
Condo fees for both Oasis and Allure will be about the same, $.50/sf/month)
If you are looking at retirement real estate in the sub $300,000 price range there are some wonderful communities to choose from. Lindsford by DR Horton. You can also visit our main communities links here.
I have put together a review of all condos available downtown and their relative prices. Click HERE
Is this the year you should buy your retirement real estate here? Read this