Boomers Buying Southwest Florida Vacation Homes
The News-Press reports today that boomers are buying up vacation homes in Southwest Florida. As the price of houses in Lee County goes down, baby boomers are also coming down — with retirement or vacation homes on their minds. The SageRealtor Group team can attest to that. Nearly 90% of our buyers are boomers from the United States, Canada, and Europe.
Michael Timmerman, a Naples-based senior associate with Fishkind & Associates, an Orlando-based economic consulting firm, said the uncertain future on Wall Street may be persuading some people to buy homes here.
“They say, ‘I can either keep my money in the stock market and watch it go down or I can buy real estate at the bottom and hopefully it’ll come back up,’” Timmerman said. The sales reflect the long-term trend.
In particular Cape Coral’s real estate market is climbing back on the backs of legitimate buyers. Investors with the means to hold property and families and retirees looking to settle in the Cape are starting to snatch up houses. According to figures from the Lee County Property Appraiser’s Office, the number of single-family homes sold this year is up an average of 50 percent this year from the last.
Read more about buying vacation homes in Southwest Florida in the Southwest Florida Real Estate newsletter.
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