Benefits of Investing in Cape Coral Foreclosed Homes
Investing in Cape Coral foreclosed homes is a great idea for those seeking affordable housing. It is a beautiful city criss-crossed by canals having lovely waterfront properties and great opportunities for employment and recreation.
Besides, there are many other factors that make investing in Cape Coral foreclosed homes an attractive proposition.
Cape Coral was established in 1957 as a satellite town to Fort Myers in the state of Florida. It is a preplanned, master planned city to form a “Waterfront wonderland’. Hence it has beautiful waterfront properties.
With over 400 miles of navigable water ways, Cape Coral has more canals than any other city in the world. In the early years, Cape Coral was famous for its retirement population. With the construction boom of the 1990’s, younger families and professionals arrived and now 20% of population is seasonal residents. Now, Cape Coral is a modern town that presents a wide variety of restaurants, retail and businesses along its main arteries.
As of April 2009, Cape Coral was the 9th biggest city in Florida in terms of population. It is just 14 miles from South West Florida International airport which caters to 8 million passengers every year. The city has great opportunities for recreation.
It features a fishing pier and beach by the Caloosahatchee River. Cape Coral also has Sun Splash Water Park, over 30 recreational parks, and 7 golf courses. It offers access to Gulf beaches such as Fort Myers beach and Sanibel Island. It is also popular for watching wild life like the burrowing owls of Florida. The Gulf of Mexico gives connectivity to rookeries, tropical islands and sport fishing grounds.
The cultural assets of Cape Coral include The Art Studio, The Cultural Park Theatre, the Cape Coral Art League and The Historical Museum. The city holds yearly Independence Day fireworks known as Red, White and Boom. Since 1985, the German American club conducts a yearly Oktoberfest, based on original German model. Also, the Cape Coral Festival of Arts is an annual feature in the second weekend of January and draws 100,000 visitors.
It also has many foreclosed properties as foreclosure rates rose steeply in the last few years with the city ranking number 3 out of 25 cities in highest foreclosure rates as of April 2009.Foreclosure rates brought down property values to unprecedented levels recently. In 2009, a new home could be purchased for less than $80,000.
The state of Florida also offers many incentives to first time buyers like tax credit abatement, discounted down payments and low interest loans. Thus investing in Cape Coral foreclosed homes is an attractive option for home buyers looking for a good investment.
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ABOUT THE AUTHOR
Fiona Livnat is an author with expertise in Cape Coral Foreclosed Homes. She has over ten years of experience in writing about foreclosures. Her commitment to help people is reflected in her writing. For more information on bank owned foreclosures please visit ForeclosureDatabank.com