We were curious as to what percentage of Cape Coral homeowners are full-time residents (Homesteaded) versus part-time or seasonal owners. Sue and I both took a guess prior to recently finding out the stat. Take a guess as to what you think the percentage is, and you can see the answer (and our guesses) at the end of this report.
FORT MYERS BEACH 28TH ANNUAL SANDSCULPTING CHAMPIONSHIP
For those of you in the SW Florida area there’s a great event taking place November 21st – 30th. It’s The 28th Annual American Sandsculpting Championship. The event is held at the Wyndham Garden Hotel in Fort Myers Beach and will be the largest sand sculpting competition in the State. More than 25 Master Sand Sculptors and hundreds of amateurs will participate with up to 30 works of art on display. Over 1000 tons of sand will be piled and sculpted. Sue: Tom and I have attended this event several times over the years and the sculptures are truly remarkable. It’s a fun way to spend a few hours.
Facts & Stats for the Month
Fewer Marriages = Slow Housing Recovery: The housing recovery has suffered as fewer young Americans get married, according to a John Burns Real Estate Consulting report. Census data indicate a drop in married men by 48% from 1970, and a decline in married women by 43% in that same period.
The tendency to remain single longer - and often put off parenthood - has a big impact on the housing market. Although more couples are living together today, homeownership rates of cohabitating partners is much lower than that of wedded couples.
In Cape Coral, there are 75,263 developed residential properties, and they account for 82% of the City's taxable value (commercial & industrial properties paying the balance). 53% of these homes/condos are homesteaded, yet, homesteaded properties accounted for just 35% of total taxable value. The 47% of non-homesteaded properties account for about 48% of the City's taxable value. Due to Florida's homestead advatanges, part-time residents carry a greater portion of the City's tax burden than full-time residents.
We were not able to track down the percentages of waterfront full-time residents versus waterfront seasonal residents, but based on our sales we are confident that seasonal waterfront residents are a much higher percentage than full-time residents. And, the tax burden is even higher for seasonal waterfront owners.