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

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September 2016 Updates

New WalletHub Report: Fla Has 4 Top 10 Retirement Cities

The financial website rated 150 U.S. cities based on 31 key metrics, including affordability, health care, activities and quality of life. Four of the top ten retirement cities were in the Sunshine State. Cape Coral, our wonderful waterfront city again made the list, coming in at #7. Below are the top 10 retirement cities in the U.S.
1. Orlando
2. Tampa
3. Scottsdale, AZ
4. Miami
5. Sioux Falls, S.D.
6. Las Vegas
7. Cape Coral 
8. Atlanta
9. Minneapolis
10. Los Angeles
Unique Condo Community Being Developed in Downtown Fort Myers
Allure, a new luxury condominium community to be developed in the Historic Downtown Fort Myers River District, will provide a unique opportunity for folks interested in living and working in the charming downtown area. The “Living” floorplan is a 2-story, live/work loft that provides the perfect layout for those looking to work from home. The distinctive design is especially attractive to artists who are looking to live and work in the heart of Historic Downtown Fort Myers, known for its arts and culture options. The project will have twin 32-story towers and a total of 292 units. Preconstruction prices start at over $300,000 and go to over $1 million.
The prime locale along the banks of the Caloosahatchee River in the newly-revitalized Historic River District combines tropical urbanism charm with a small town feel, delivering the perfect live, work, play environment. With over 65 cafes, bars and restaurants, the pedestrian and pet-friendly historic downtown offers unlimited options with something for every taste. The Historic Fort Myers River District has become extremely attractive to visitors and local residents alike.Sue: Sounds like Allure will be an amazing, cool community. Love to hear about exciting new projects that are sure to attract interesting people.
Update on Chiquita Boat Lock Removal
A progress report on the Chiquita Boat Lock Removal Permitting was issued on July 28 by the Cape Coral Public Works Department. Collection of the necessary water level, salinity, and temperature data was collected in May for the hydrodynamic model. Both gates were opened at the lock for three days in late May for several tide cycles.
Water quality load analysis is underway to evaluate if there will be any impact on water quality with the lock removed. This analysis will also help identify if water quality improvement  projects will be necessary for lock removal. The permit application is scheduled to be completed in October. The submission of the permit application would then follow consideration of the cost and funding to accomplish the work required.
Tom: As with most governmental projects, this one is taking longer than anticipated. We will let our clients know once a final decision has been determined on the Chiquita Boat Lock, along with several other major projects being planned in the city.
SWFL Real Estate Market Stays Strong...Even in Summer
August is typically a slow real estate month in our area, but not so this year. Home prices are still high and climbing, and all indications are that the standard of just four to six months of strong real estate sales in SWFL is no longer the case. As as example, Cape Coral homes sold at over 97% of listed price in August, and home inventory was only 3.5 months - exceedingly low for this time of year. In the early part of September it appears that the market may be slowing down a little bit, but we'll know for certain when the final numbers are in for the month.
U.S. New-home Sales Highest Level in Nine Years
National new-home sales jumped 12.4% in July to a seasonally adjusted rate of 654,000 annual units, the strongest level since October 2007 (and matching the historic pace of 650,000 new homes selling each year), according to the U.S. Commerce Department. Housing demand continues to eclipse the pace of construction. Currently there is just 4.3 months' supply of new homes, down from 5.2% months a year ago. 
Very low mortgage rates, a low 4.9 % unemployment rate and a general recovery from the Great Recession and sub-prime mortgages are fueling the rise in new construction. Tom: Based on numerous factors we feel that there will continue to be a shortage of homes in Cape Coral and SWFL until substantially more new homes are built. In Cape Coral there are about 100 new homes built each month, when in fact, according to the U.S. Census Bureau, the city needs at least 250 new homes built each month to keep pace with new residents.


Atlanta Braves Eye Training Camp In Collier County - Frontier Airlines Will Service Punta Gorda Airport - Cape Coral Mid Year Stats

July 2016
Assessed Property Values Released By Appraiser - Caloosahatchee Releases Update - National Builder Eyes Former Cape Golf Course

June 2016
Too Soon To Retire But Don't Want To Pay Future Higher Prices? - Real Estate Owned Via Self Directed IRAs - Flipping Is Out; Long Term Investing In

May 2016
Cape Coral Racks Up More Top 10 Ratings - Gallup Survey: RE The Best Investment - Retirees Come to Cape Coral In Droves

April 2016
Cape Coral 2nd Highest Growth Rate in U.S. - Red Sox & Twins Spring Training Brings Buyers to SWFL - Forbes Ranks Cape Coral 8th Best in Nation for Retirement

March 2016
Lake Okeechobee Update - Naples Happiest City In U.S. - Cape Coral Burrowing Owls

February 2016
6 Reasons FLA Is Best State For Retirement - Forbes Names Cape Coral In Top 10 Best Investment City For 2016 - Population Stats Cape Coral.

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

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