Many buyers who have the ability to purchase the Florida foreclosure homes on the market are finding out they can receive a $250,000 home for only $100,000. Florida foreclosure homes are worse in areas like Cape Coral which is fast becoming the city in Florida and fourth in the entire nation with the highest foreclosure rate.



Cape Coral has become an affordable place to purchase property as compared to a few years ago when investors decided to work through and make it a more residential place to live. When the economy hit everyone hard, the homeowners had nowhere to turn and foreclosures in Florida were the end result. It could take almost two years before the 11,000 homes are going to be occupied again.

Unfortunately, with foreclosed homes having a lower value, the tax rate has also decreased. This has forced the city to lay off over 150,000 people and taking money from other programs around the city to compensate. They have cut into the park programs and other areas to make up the difference.

Building and construction seem to be moving forward as it had before the Florida foreclosure homes hit the market. The size and location of Cape Coral makes it the most popular place for people to live. It is 115 square miles and is the third largest city in Florida under Tampa and Jacksonville. The Florida foreclosure homes are only situated on about half the land here as the other half is still vacant and undeveloped.