lee county real estate

Apartment Occupancy Rates on the Rise in Lee County

If you are looking to rent in the Lee County area, now may be good time. In an article from news-press.com, a recent study done by Real Facts (based out of Novato, California), shows that apartment occupa

If you are looking to rent in the Lee County area, now is a good time. According to a recent study done by Real Facts (Novato, California), apartment occupancy rates have increased in the second quarter of 2010. Out of the 12 major metro areas within the Sunshine State, Lee County ranks fourth in occupancy growth. A major reason for the rise? People who have lost their homes due to foreclosure are now having to enter the rental market.

Also of note is that the actual prices of apartment units in Lee County have gone down – approximately 9.1% on the average, to be exact. This drop is currently the highest decline in the state, making it a prime time for potential renters who may not have the financial reserves to purchase a property on their own.

Reasons for the falling prices can be attributed to the sluggish economy, and lack of employment. Apartment managers are still looking for quality tenants, however, so going through the rental process is becoming more stringent as time goes on.

Information for this article provided courtesy of news-press.com. To view the full article, click on the following link:

http://www.news-press.com/article/20100801/RE/8010348/-1/ent19/Lee-County-apartment-occupancy-climbs

lee county real estate

New Construction Homes Back on the Radar

While short sales and foreclosure properties are still playing a prominent role in the current real estate market, new construction homes are slowly (but surely) making a comeback in Lee County. According to a recent article in news-press.com, and statistics from Metrostudy (a housing market data company), the number of completed and vacant homes was only 258 at the first quarter of 2010.

Reasons for the growing interest range from buyers looking to “purchase the lifestyle”, not necessarily an investment property, to the fact that some new construction homes are only a little more expensive than some foreclosures (or short sales. With the county’s dwindling inventory of existing homes, the interest in new construction in Lee County  may be a growing trend to watch.

Information for this article provided courtesy of www.news-press.com, 2010.