Hertz move could impact SWFL housing market

Julie Salomone

Hertz move could impact SWFL housing market

CREATED May. 7, 2013

ESTERO, Fla.- The big announcement from Hertz on Tuesday morning means potential buyers will soon scope out the area looking to snag a home. So where will Hertz employees buy a home? 

Joseph Pavich Sr. takes a look at the spot where Hertz's headquarters will relocate.

Pavich, a broker and owner of Realty World, sells homes in Fountain Lakes. It's the closest single-family neighborhood to the Hertz site.

"my thoughts were they were going to move off of Ben Hill Griffin Parkway, somewhere east of I-75, but what a perfect location to put this facility with Coconut Point to one side of it," said Pavich. 

The proposed site is on US 41 and Williams Road in Estero. So what does this mean for the real estate market? 

"A big plus for the area with 700 employees this way and with properties starting in the mid $100,000 to as much as you want to spend. In some cases, it's close enough to ride a bike to work and just miles away from the facility," said Pavich. 

The rental car giant plans to move 700 jobs here over a 2 year period with corporate employees earning more than $100,000 dollars. Pavich says that guarantees some of them will buy. He moved to Estero when there wasn't much around and now the area is thriving. 
"We moved here in 1989, there was nothing in this part of the community. Fountain Lakes had less than 30 homes." 
Pavich adds the neighborhoods closest to the proposed site will benefit the most.