LaBelle investor beauty
EF Hutton here and when I speak........well you remember the rest.
Nearly every day I get asked the same question......."hey Mark, what is the next hot area?" Well you heard it here, LaBelle is hot.
One of the sure-fire signs that an area is heating up is the flood of postcards, letters, listing agreements and contracts that start jamming the mailboxes of property owners. As reported by fellow blogger and LaBelle resident Don Browne of Southwest Florida Online - Sunday Morning News, "Builders and out of town real estate brokers are sending letters to virtually all Port LaBelle and Montura lot owners asking to buy their lots."
Another sign of a hot market is the ratio of pending to active (PTA) listings in MLS. Typically a market with a PTA ratio greater than 33% is considered an active market. Currently for Port LaBelle vacant residential lots in the Sunshine MLS, there are 139 pending sales and 213 active listings for a sizzling PTA ratio of 65%.
A key infrastructure project will be completed this summer which widens S.R. 80 to four lanes between Ft. Myers and LaBelle. Eventually, S.R. 80 will be widened all the way to Palm Beach and will become a major cross-Florida transportation route. This road widening will make LaBelle a significantly more attractive commuting option for the Ft. Myers workforce.
The Bonita Bay Group has acquired 4,700 acres in LaBelle with plans to develop a Celebration style "Main Street" concept of mixed use commercial and residential. Long-term plans call for up to 15,000 homes to be constructed in this project.
At the present time vacant lots in LaBelle start in the mid 30's and have been experienced significant recent appreciation.