In general terms, with a few exceptions, the global real estate market is in complete impasse. One of the most important is to be more descriptive in Florida-Cape Coral. The city is listed as number 1 out of the top 25 foreclosure cities in the United States and for this reason; there are many properties available at highly discounted prices, making them perfect for an investment. Island Coast Mortgage
If you don’t know what foreclosures are we’ll try to explain-foreclosures are assets that are available from banks and government agencies that need to reclaim their unpaid loans and/or taxes at 10 to a whopping 50 percent discount. They’re not looking for a quick profit out of it as they’re not in the real estate business at all and so they’re selling the property just to get their mortgage amount back. Think of it as a matter of leasing–someone bought a car in leasing but did not have the money to pay all the prices, it’s exactly the same situation.
There are many reasons why people invest in Cape Coral, we’ll mention only a few: July 4th’s biggest annual Independence Day celebration. It is an amazing fireworks festival also known as Red, White & Boom; the annual Oktoberfest organized since 1985 by local German-American community in Germany just like the original; Festival of Arts–this festival is held on Cape Coral Parkway and draws thousands and thousands of tourists each year. Around 300 craftsmen and artists take part in the event, making it the largest art festival in Southwest Florida; education–three schools in the Lee County School District are fully operational, including the newest school, Island Coast High School, which provides quality education for children, making Cape Coral a dream come true for both parents and children; people–we couldn’t have had it. Some renowned individuals are Cape Coral residents such as actress Angela Watson, NFL player Greg Spires and the prominent talk radio host Bill Cunningham.
If it’s not that hard to choose where to live or invest your money, you need a lot of attention to actually buy a property. The first move is to secure the finances to earlier become pre-qualified which will improve the chances of a good deal. You must know you can buy foreclosed property at an auction, directly from the seller, or by partnering with an immovable business, no other way, or at least no other legal way.
Last but certainly not least, detailed inspection of the land. Get an appointment and test the issues with plumbing, heating, termite etc. You can discover hidden defects after you buy the house, and we all know how unpleasant it can be.
Of course, if you don’t want to move in, you might think of it as an investment–buying a property to rent it to others, it’s done a million times, but it’s still a profit-making legal decision. Prices will definitely rise in the coming years so why not buy a home now, rent it for a couple of years and if you need some serious money then sell it for a good profit, it’s almost certain.
All things considered, Cape Coral offers the best of both worlds–a great location to spend a holiday or live permanently and a lucrative investment of course. Even in these hard economic times, Cape Coral is still a real estate dream come true.