Lee County Home Values Down Over 60% Since The Bubble Burst
It has been approximately 5 years since the housing market started to slide in Lee County, Florida. Since then, housing prices in our area have dropped on average of 60%. In some areas of Lee County, the prices have dropped more significantly. Our neighboring counties are doing a little better, but are still in bad shape as well.
According to some estimates, we are only half way through this economic mess. I tend to agree, but I would like to say that the recovery that everyone is hoping for will be much slower than anticipated. People are so ready to get back to the way things used to be, but, for most people, that way of life is over and done with. The days of free-spending and quick access to cash from credit cards and home-equity loans will never be the same.
What does this mean for those of us living in Southwest Florida. Well, things are not going to be easy, but at the same time, opportunities always arise in a down economy, and it is up to us to get back on our feet and put our best foot forward.
I'm not glad that the bubble burst, but I am glad to see people coming together in ways that that didn't exist five years ago. For those of us who are Lee County residents with plans on riding this thing out, all we can do is wait for the rest of the Nation to realize what they are missing out on by not coming to our wonderful little slice of paradise. Once they realize that we are still here and ready for the tourists to come back, we will be waiting for them with open arms.
This post was submitted by Carmen Dellutri, Esq., founder of The Dellutri Law Group, P.A. Currently, the firm has offices in Port Charlotte, Fort Myers, Naples and Sarasota. Mr. Dellutri also sits on the Board of American Board of Certification. Mr. Dellutri is also one of the founders of the Bankruptcy Law Network, Debt Law Network, Credit Law Network, and Mortgage Law Network. Mr. Dellutri also writes for the firm's personal injury litigation blog, www.faircreditreportingactblog.com and www.fairdebtcollectionpracticesactblog.com, and the firm's mortgage modification blog.
