The foreclosure feeding frenzy for Cape Coral distressed homes continues as reported by the News-Press. Many Cape Coral REO listings are coming on the market with aggressive asking prices. This is proving to be a sound strategy for the institutional owners as we are seeing multiple above asking price offers on these listings.
Right now, cash paying investors and mortgage dependent first-time buyers are duking it out to get their hands on these Cape Coral foreclosures that are now selling well below replacement cost. It is very important for anyone entering the fray with a mortgage contingency to have a pre-approval in place.