Cape Coral in top five inexpensive places to retire by Money Magazine

Posted on Sep 23, 2011

Cape Coral’s top-five ranking on Money magazine’s 2012
list of low-cost places to retire is as good as gold for the city, business
leaders said today.

Well-off baby boomers preparing for retirement will see
that and think about buying or building a home here, said business consultant
and former Mayor Joe Mazurkiewicz.

“It’s on coffee tables at lawyers’ offices, doctors’ offices and dentists’. It
leads to rooftops,” Mazurkiewicz said. “Until we get rooftops going, commercial
is going to lag. Jobs are going to lag.”

“Being listed in the top five, that’s gold to us,”
Mazurkiewicz said.

Money’s October edition also lists Cape Coral in the
second position, behind Marquette, Mich., among 25 places it recommends for
retirement. The magazine’s researchers used various databases to compile the
list.

Those retirees also will want amenities such as cultural
activities that will improve the quality of life, added Wayne Kirkwood,
chairman of the Horizon Council, an economic development advisory board for the
Lee County Commission.

They’ll also inject more money into the local economy as
they move their bank accounts and other assets, said Kirkwood, a longtime Cape
Coral businessman.

“In this particular moment in time, it would be a shot in the arm for the
construction industry. It can get people working again,” Kirkwood said.

Cape Coral’s 400 miles of canals, many with river access,
set it apart from other places, according to the article, which also cites low
real estate prices. The mean price of a home has dropped to $95,000 from a high
of $322,000 in 2005.

While the article notes there isn’t much nightlife, it
points out the public golf course, a farmers market with live music and nearby
spring training camps for the Minnesota Twins and Boston Red Sox as things to
do.

Real estate agent Susan Milner said Money has prompted
several phone calls in the past few days from people looking for property.

Milner left an “I love Cape Coral” comment with the story
on Money’s Internet version of the story.

“I feel like every day I’m on vacation here,” Milner said
today during an interview. “It’s the weather, the water. I love looking at the
water.”

The article puts Cape Coral on the map and draws it to
the attention of people who never heard of the city, Milner said.

The comments section drew other critiques.

One anonymous post called attention to the city’s
political scene and a proposal to shut down the police and fire departments.

Former resident Sharon Tolles commented on how traffic
and taxes increased over the 45 years she lived in the city.

“I would never move back for those two reasons,” Tolles
said Tuesday from her North Carolina home.

“It’s a good place to retire if you can afford to retire
there,” said Tolles.

1:34 p.m.

Money Magazine has ranked Cape Coral as one of the top
five low cost cities to retire in its October publication.

The magazine said the low home prices, opportunities for
boaters on the city’s 400 miles of salt and freshwater canals were big selling
points.

Cape Coral residents Laura and Roy Tackett, said they
moved here because of the lower taxes and cheap housing. They told the magazine
they sold their Illinois home for $255,000 and bought an 1,800-square-foot home
in the Cape for $145,000.

The median home price for the city, with a population of
154,000, is $95,000 and the median property taxes are $2,000.

Cape Coral also made the list for the top 25 places in
the country to retire.

The magazine said:

“For retirees who are looking for lower taxes, cheap
housing and a gentle climate, Cape Coral scores on all fronts. Home prices
here, for example, have fallen more than 60 percent since the 2006 peak. For
homebuyers, that means a lot of bang for the buck.