Cape Coral (Gator Circle) Question

[Jorge Siverio]

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.

[Peter Davis]

@Jorge Siverio

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.