Updated over 4 years ago on . Most recent reply
Cape Coral (Gator Circle) Question
Hey Team - I am looking at lots for my RTR build, and I have found a very nice lot by a huge canal within the "Gator Circle" area. Our Realtor/Partner (from the development group) has mentioned that this area is currently hot and we trust her judgment. However, there are a lot of "DR Horton Express Homes" that are being offered in the area, brand new for around $300k. This worries me a bit, granted they are not in the same playing field in terms of layout and build materials as the RTR build, but it does concern me that from a numbers perspective, there are several homes in the area for sale at substantially less than the estimated $380k valuations. From an appraiser's standpoint, do they factor in materials and build quality when evaluating these new homes, or is it just a numbers game (e.,g., a 4/2 with similar sq. ft. and on freshwater)? Is my concern valid?
I wanted to reach out because I think I'm heading into analysis paralysis territory with lot selection.
Looking forward to hearing your opinions on the Gator Circle area in Cape Coral and on my concern.
Most Popular Reply
I agree with @Stetson Miller in that I would look for a lot further south and west of Gator Circle, in the 33993 zip code. The lot prices are comparable and in my mind, the area is better: closer to Pine Island Road with the amenities and access to Fort Myers, closer to Burnt Store RD where to the west there are million dollar gulf access homes, and a better variety of homes generally, some being larger and nicer and not so entry-level looking like many of the homes in Gator Circle.