Tom Demogenes
Tom and Sue Demogenes
Luxury Waterfront Team
Cape Coral, FL 33914

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February 2016


6 Reasons Fla. is The Best State for Retirement -
A recent study by named the Sunshine State as the best place in the U.S. for retirees based on affordability, quality of life and healthcare. Sunshine, beaches and a laid-back lifestyle have made Florida the top destination for retirees looking to live out their golden years in peace and comfort. Here's the top six reasons why WalletHub chose Florida as the best state to retire:
Golf: Florida has the most golf courses per capita in the nation...and you can play all year-long
New Friends: The Sunshine State has the highest percentage of people aged 65 or over
Cultural Options: The state has the sixth-most theaters per capita in the U.S.
Nursing Care: Florida has the eighth-lowest cost of in-home services of any state
Low Taxes: No state income tax helps Florida be the 10th best state tax-wise for retirees
Museums: Florida has the 15th-most museums per capita.
The four remaining top states for retirees are: Wyoming, S. Dakota, S Carolina and Colorado. BRRRRR, too cold most of the year in these states.
The five bottom states for retirees are: Vermont, Conn, Hawaii, Washington D.C. and Rhode Island
Cape Coral: Top 10 Best Investment City for 2016 - Forbes
Forbes produced its Top 20 list of 2016 Best Buy Cities, and our Waterfront Wonderland city came in at #10. Florida cities dominate the list with 7. According to Forbes, Florida offers good values "where investors get the best bang for their housing buck, and where homeowners have the best prospect of making an economically sound purchase".
Cape Population Reaches 170,000, is Younger...and other stats
Population: Currently Cape Coral has 170,000 residents, up from 154,000 in 2010. During the winter there are over 200,000 people residing in the Cape, counting Snowbirds and Seasonal Owners
Age: According to the U.S. Census for 2010 (latest date available), the average age of Cape residents is 43.7 years old, a significant drop from a few decades ago when the average age was in the low 60's
New Construction: In 2013 there was $5.2 million in new home construction. This past year it was $19 million, an eye-opening $14 million increase. Commercial construction has seen a similar growth rate. The value of combined new home and commercial construction has increased from $6.1 million in 2013 to $34 million in 2015. As the city's population grows, many new businesses are opening.
Thinking of Building a New Home?
Don't Let Your Dream Home Become a Nightmare
As more and more builders enter the smoking-hot new construction field, we see that some have already gone out of business. Others are cutting their profit margin so slim, that they are also experiencing financial difficulties. Still others provide excellent service and communication up until the contract is signed, and then the crucial communication level recedes significantly. Contact us prior to choosing a builder and we'll share our knowledge and opinion of that builder's reputation, financial stability and reliability.
Important Laws/Notices
* Homestead Exemption Filing: Anyone who bought real estate in Florida in 2015 must file for their homestead exemption by February 29th. If you need clarification or help with this please contact us.
* Mortgage Insurance Deduction: Congress voted to extend the tax deduction for mortgage insurance through 2016 for borrowers with adjusted gross income up to $100,000.  
* Foreign Investment in Real Estate Tax: The FIRPTA withholding tax increases from 10% to 15% on February 16th. This withholding tax is zero when the sale price is less than $300,000, and the buyers use the property as a residence AND the buyer signs a FIRPTA Exemption Affidavit. If the sales price is between $300 K and $1 M, and the buyer's intent is to use the property as a residence AND the buyer signs an affidavit the withholding remains at 10%. Once the seller submits a tax return, any balance due the seller from the withholding will be refunded by the IRS. We will help our foreign clientswith this.
Facts and Stats
Lee County Unemployment Drops to 4.3%, Collier to 4.4%. Seasonal hiring further dropped SWFL's unemployment rate to close out 2015. Lee County continued to experience tremendous job growth, with 8,100 new jobs created for the year. Many of the new jobs were in the leisure & hospitality and construction fields.
Home Inventory Increases in SWFL: We are happy to report that inventory of available homes has risen to a healthy, balanced 6 - 6 1/2 month level in our area. Although we typically get a bounce in inventory at this time of year, it is still a relief to buyers that there are more homes to choose from, although prices continue to rise.



January 2016
2015 Real Estate Highlights - FL Tops List Of Most Desirable States - National Accolades For Cape Coral

December 2015
24/7 Wall Street Ranks Cape Coral in Top 50 Cities to Live - SW Florida Home Price Growth Highest in Nation - Cape Ranks High Among Florida Cities for Families & Jobs

November 2015
Strong Sellers Market - Annual Rents Rise 23% - Economists Predict Strong Market Through 2017 

October 2015
Cape Coral's R.E. Rebound 2nd Strongest In Nation - SW Florida Now a 12 Month R.E. Season - Chiquita Boat Lock Impact

September 2015
Shortage of SWFL Seasonal Rentals Gets More Severe - Fla. "Save Our Homes" Tax Break Kicks In Again - Cape Coral 4th Best Large City for Retirees

August 2015
City Council Votes to Eliminate Chiquita Boat Lock - U.S. Home Prices Hit Historic Highs - High Cost of Waiting to Buy

July 2015
Best/Worst U.S. Cities for Retirement - Cape Coral Inventory Falls to 2.6 Months - Homebuyer's Most Important Concerns When Looking For a Home

June 2015
New Homes A Good Option - Two SWFL Beaches in Dr. Beach Top Ten - Lee County Housing Market Continues To Climb

May 2015
 SW Florida Peak R.E. Season Extended - $400k Becoming the New $300k for Cape Coral Gulf Access Homes - Freshwater Homes an Affordable Waterfront Alternative

April 2015
Northern Winter Puts Further Strain on SWFL Seasonal Home Rentals - Monthly Payments on a $500,000 SWFL Home Today...and in One Year - Million Dollar Homes Selling Again in SW Florida  

Tom Demogenes | 239-357-3312 | Contact Us 
4100 SW 27th Pl - Cape Coral, FL 33914
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