All Forum Posts by: Don M.

Update, lot cleared and scraped.

I am currently in the process, and won't give specific input, as the project isn't far enough along to give reliable information, on my end.
As others have mentioned, expect permitting in general to be a long process in Cape Coral.  From what I've seen, new construction in the area is often estimated from various sources to take 16+ months including permit timelines.

Updated timeline:

January 2022: Build Contract with builder completed.
February 2022: Closed on Lot (cash purchase).
February 2022: Deposit sent to Builder.  Permit packages initiated.
June 2022: Completed permit package submitted to City of Cape Coral.
August 17, 2022: Permit for construction approved by City of Cape Coral.
September 13, 2022: Permit for Seawall slope approved by City of Cape Coral.
September 28, 2022: Hurricane Ian hits Cape Coral as Cat 4. Hurricane.
November 2, 2022: Informed that lot scraping/prep was slated for that week.
November 10, 2022: Informed that lot scraping/prep was delayed, but would be completed by end of the week.
November 18, 2022: No response on update, as of time of this post.

Update:
Lot scraping is tentatively scheduled to start this week.  Fingers crossed that will be on track.

A bit delayed, but that part is definitely understandable, given the impact of Hurricane Ian, long power outages, debris, and current projects needing repairs.

 Thanks David, that aligns with my initial thought process; Many will see the opportunity for business in SWFL, particularly if we are in a recession and we see a larger impact on unemployment in the Country.  There will almost certainly be demand in the construction field in SWFL for years to come.  I think this could bode well for the housing market, as well.
From an outsider looking in, I've been impressed with Florida's response to the hurricane recovery.  What they've done regarding restoring power/services, with the road to pine island and the Sannibel Causeway thus far is pretty remarkable.

@David Vanlandingham  Not to take away from the original post, and maybe it is early to tell, but do you anticipate overall construction-times to increase for builders, with the significant demand for labor and materials in much of SWFL?

It is an interesting time for sure.  
As an outsider looking in (but following very closely), I am in a lot of Cape Coral facebook groups for residents, local government, etc. 
I see quite a lot of residents who were displaced (or displaced from the nearby islands) looking for rentals, many for yearlong rentals.  While some jobs are lost from the effects of the storms, I see a lot of new jobs and outside help coming to SWFL for the recovery process.  The cleaning, repair of structures, businesses, roadways, bridges, ect among FMB, Pine Island, Sanibel, and Captiva will take well over a year, and likely several years to fully develop.  I think all of these areas are going to have a strong draw factor for visitors, businesses, and residents.

As far as an immediate dip in prices, well Cape Coral is still 75% without power.  I don't think there's a ton of focus on real estate sales this week.

Realistically, I don't know what's to come for this market in the immediate future, but it hasn't lost its appeal to me.

 Thank you, Arjun.  To clarify, you were told completion should be in about 1.5 months?  In most areas, I wouldn't anticipate a total loss.  Here's a resource posted by another member that may or may not be helpful while you wait to hear from your builder.  It is updated post Ian.

https://storms.ngs.noaa.gov/st...

 Thanks for the resource!  I'll definitely be searching through it.  I'm in a lot of Cape Coral Facebook groups, follow Cape Coral government and sheriff's pages, but this will be a helpful, objective resource.

My thoughts go out to everyone affected by Hurricane Ian.  Of course, SWFL got a large brunt of it, and the islands look pretty devastated.  From media coverage and contributors on the forums, it looks like much of Cape Coral fared well (relatively speaking).  Obviously, the most important focus is on those who experienced loss of life, need rescue, and experienced total loss; again, my heart goes out to those people.

From an investment standpoint, hurricanes are obviously a real, calculated risk of the area.  It will be interesting to see how the storm may affect build times, with so much need for labor, repairs, and construction in SWFL. At this point, I believe most of Cape Coral is without power still.  It will also be interesting to see how values could be affected down the road, as well.