FORT MYERS, Florida 9 June 2011— A good deal of optimism and excitement has emerged in light of recent sales figures for High Point Place, among the top selling high rises in the heart of Downtown Fort Myers’ River District. So far in 2011, 30 condos have been sold, with 7 sales in the past 30 days alone.
Historically low interest rates and strong foreign currency exchange rates are favorable for the Florida real estate market. High Point Place also holds approval from Fannie Mae, which has helped drive sales. The high rise’s towers are over 82% sold out.
“We believe the values will return faster at High Point Place, given its superior location, quality construction, and stable homeowner’s association” says Nick Cameratta, Manager of Cameratta Companies. Prices at High Point Place have seen a small increase in 2011 and are expected to continue upward as the last of the developer inventory is sold.
“When you see such positive indicators of sustained growth, buyers are more inclined to purchase,” continues Cameratta, “and High Point Place is certainly a place where people want to be.”
Another reason why High Point Place has been able to better maintain its prices is because of the few number of “distressed sales” within the project and buyers seem to be more hesitant today to buy “distressed sales” (i.e. foreclosures and short sales). Occasionally these “distressed sales” are offered at a discount, but buyers are now realizing the discount typically isn’t enough compensation for the potential issues that come along with it. After further consideration, typical drawbacks that come with these distressed sales include unpaid taxes and/ or homeowner’s association dues, removed appliances, used/unmaintained conditions with no warranty, bank delays, hidden fees, etc. At High Point Place the few remaining developer inventory units for sale are new/never lived-in, well maintained, warranted, and several units include many prepaid upgrades.
For more information, please contact Cheryl Yano, Director of Sales and Marketing for High Point Place or visit us online at www.highpointplace.com.