Investors seeking Fort Myers property bargains may be encouraged by news that US house prices continue to get cheaper.

The S&P/Case-Shiller home-price Index, which measures prices in 20 US cities, found that the annual drop in prices was a record 17.4 per cent.

In the month of September alone the drop was 1.8 per cent.

Analysts blamed the trend on the increasing number of foreclosures, something that may increase to due unemployment caused by the economic downturn.

However, this lowering of prices may help those seeking to buy Fort Myers property or homes in other locations in the US.

Those living in Fort Myers may benefit from the recent vote to back the proposition that there should be no property tax for added value on homes produced by the installation of green energy devices or stormproofing.

Known as Amendment three, this was voted through as part of the Florida state constitution earlier this month.

Visit Rightmove Overseas for the best selection of Fort Myers property. Stop dreaming, start searching!