With interest rates at historic lows and with the correction of housing prices, real estate inventory in Fort Myers, Cape Coral and Lehigh Acres Florida is not as plentiful as it was just a couple of months ago.
Cash buyer investors are making it difficult for conventional financing buyers to have a competitive edge when placing an offer on a new or resale home. If a buyer brings cash to the transaction, that individual automatically has the advantage with the seller. Realtors are educating their buying clients that a new listing at a remarkable price in the community their particular buyer likes will not last long before it is marked as "Pending", "Active Contingent", or "Active Contingent Short Sale". The reason you like the house, is the same reason another buyer will like the house.
It is important that a Buyer understand these five concepts when placing an offer on a home in Fort Myers or Cape Coral:
1. Have a trusted lender you are working with (if you are not a Cash Buyer)
2. Be Pre-Qualified - Have your letter from your lender handy and give a copy to your Realtor
3. Be prepared emotionally and financially for mulitiple offers to be placed by other buyers on the home that meets your individual needs or the needs of your family. Be comfortable with your highest and best offer, in the event you need to place that type of offer.
4. I don't think I am going out on too far of a limb here by saying this, but it is not necessarily a "Buyer's Market" in the Fort Myers Real Estate Market anymore. It is the concept of supply and demand playing out before us. New home starts continue to be down and with fewer homes being listed, the supply of quality, move-in ready, or like new homes is down, however the demand remains up as homebuyers recognize that it remains a historic time to purchase a home.
5. Don't get disheartened - Buying a home or Selling a home in Fort Myers continues to be worth the effort, however, it will be a bumpy ride. Consider the Realtor you choose to help you very carefully and make sure they have been working in this market with an understanding of the Fort Myers, Cape Coral Real Estate market condition.