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Hot Property Update 9-27-06

Looking for the hot real estate deals in SouthWest Florida? Each week, we scan the inventory and spotlight properties that we think are the best in class for the property type. Properties make the Hot Property list when they reach the right price and are prime candidates to be snatched up by the savvy buyer.

For today’s Hot Property Update, we reviewed lower to middle priced Gulf Access waterfront homes with a great view and quick access to open water. We then factored in neighborhood, condition of the property, and future value. The top picks are ‘best in class, best value” for their respective qualities.

sw_5th_pl.jpgSW 5th Place, Cape Coral FL (View Details)
Why We Like It: Big View, Big House, Big Pool. Great floorplan. One of the most desirable locations in the Cape. Gulf Access, about 25 minutes to open water, one 9’ bridge. The house has great “bones,” good quality construction, well taken care of. Does not need any immediate work. Kitchen is a bit dated, but nice and clean. Quiet cul-de-sac street surrounded by new construction homes (700K+). Great value now + future. Lowest price per sqft on the lakes. Asking price $589,900.  (REF 56965)

sw_50th_ter.jpgSW 50th Terrace, Cape Coral  FL (View Details)
Why We Like It: Wide canal view. Quick access. Priced right “at lot value.” Older home in neighborhood of 1M$ homes (vacant lot next to it is listed @ 599,000; others nearby from $599,000 -$899,000). Huge Lanai and pool area – one of the largest we’ve ever seen. Great seasonal rental potential. Needs some updating in the future, but in overall good condition. No bridges, but there is a lock (at Cape Harbour). Asking price $495,000.  (REF 72516)

Update 10-10-06: Both properties are gone.

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