Posted by Mark Washburn on Sunday, September 12, 2010 at 9:48:32 AM By Mark Washburn / September 12, 2010 Comment
Wow what a surprise to see an article about the Gator Circle neighborhood of Cape Coral in the News-Press this morning. Gator Circle was Cape Coral's poster child neighborhood for the real estate boom and subsequent bust. During the real estate boom, I was truly amazed at all the entry-level spec homes that were under construction in this neighborhood by the likes of First Homes and Adams Homes. Investors were gobbling up Gator Circle starter homes like there was no tomorrow. At one point during this frenzy, vacant lots in Gator Circle were increasing by about $1,000/week. With much angst, I dipped my toe into Gator Circle in 2005 turning a freshwater lot for a $23,000 gain in 82 days. That particular lot sold in 2005 for $119,900 and is now valued by the Lee County Property Appraiser at $10,000. This is just one example of the insanity and subsequent bust that was Gator Circle. From the ashes of the bust, we are seeing a reawakening in Gator Circle. Foreclosed homes are being purchased by both investors and end-users and pride of ownership is returning to the neighborhood. Here is a resource to view active Gator Circle MLS listings.
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