Florida real estate crash #99. Foreclosureville aka Cape Coral.

[KCiloveNJ]

1513 I don't think is abandon. I think it is just people that use it as a vacation home or they owners are 'snowbirds'. Many people put up their hurricane shutters when they are going to be away for a long period of time (especially during hurricane season) so they don't have to worry about traveling back if a hurricane comes. The shutters do make the house appear abandon though. Some great footage. Makes me a little nervous about my vacation property in CC... Thank you for sharing!

[TheChuck624]

Some data concerning the 1514 37th. PL. property. I know someone here in IL who just bought in this area.

Last sold for $50,000 on 2/13/2007

Last assessed at $274,730 on 2009

Previous sales • $317,500 on 10/12/2005

Previous assessments • $274,730 on 2009

• $429,760 on 2008

• $155,000 on 2007

Last value estimate was around 114K. Pathetic to say the least. I've been shopping around Flordia real estate for a few years now and it just keeps getting worse. This is a fine example.

[EconCat88]

@TheChuck624

Thanks for the information 624.

[TheChuck624]

@EconCat88 Thanks for your work and efforts Econ. Rainy day here and just catching up on some viewing of your older material. Here is another pathetic one; a realtor down in the Treasure Coast area of FL called me the other day wanting to confirm my registration with his company so I could keep getting his e-mails about the same old properties month after month which are not selling. I didn't return his call to say the least.

[dutchurbanminer]

Burglars love houses with phonebooks in front , easy job ,...nobody home

[ashleymbarber]

I'm not sure you realize, but most of the homes that you are pointing out as being abandoned, are probably actually vacation homes or snow birds homes. My family and several others that I know own property in Cape Coral, that we acquired when the real estate market dropped. The empty lots you are seeing are mostly owned, and not for sale as you mentioned.

[ashleymbarber]

I'm not sure you realize, but most of the homes that you are pointing out as being abandoned, are probably actually vacation homes or snow birds homes. My family and several others that I know own property in Cape Coral, that we acquired when the real estate market dropped. The empty lots you are seeing are mostly owned, and not for sale as you mentioned.

[mja2035]

I just looked for some of these houses on Zillow and I couldn't find them. These are still nice houses, but they will need ailot of work and money. To fix them up would take at least $50K in my opinion. The corrupt govt needs to give these houses away to people who will fix them and take care of them while living in them. What is with the character of the people in Florida?

[skyding8962]

Now I know what all the unemployed and the criminals are doing in the bad economy. They are stealing from these vacant homes.

[killman1971]

Where these last few videos cheaper houses, or were utility companies too cheap and/or ignorant to run underground utilities again? Dayton Power and Light here in SW Ohio had thousands without power for over two weeks after Hurricane Ike hit with tropical storm to CAT I hurricane force winds. Poor (to the point of criminal neglect) tree trimming and many older aboveground powerlines were to blame the vast majority of the problems.

[EconCat88]

@killman1971

It certainly is unwise to build in Florida these days using above ground electrical equipment.

[dbi1036]

did you ever think that if a crime is committed in a house after you have been in it, your prints / you may be come a suspect? be care ful

[EconCat88]

@dbi1036

I'm already wanted for 14 felonies in a half dozen states, so the more places my prints show up, the less likely I'll ever be caught.

[StreetRacingTuners]

@EconCat88 that guy who commented what if cops find your finger prints hes right even if they rule you out of a suspect thell arrested you for loitering and trespassing this state will do anything to get a buck in surprised you been to all these house without cops showing up they arrest 80 year oilds down here so if you even get a weird feeling driveaway

[me2995]

Why do they all have these screens over their pools?

[EconCat88]

@me2995

So they can sit around the pool and not be eaten alive by mosquitoes and other bugs.

[jvolstad]

Why do people build these pools. What a waste of money.

[PYSCOPOMP]

Thats crazy. Where has everyone from Florida and Detroit gone? Theres no boom town in America to run to.

[EconCat88]

@PYSCOPOMP

Agricultural and oil shale belts are where people will run to next.

Iowa, Kansas, Nebraska, North and South Dakota, Wyoming, and Alaska.

[keeptkntests]

They need to start tearing down these houses. Create a job