Karen E, Real Estate Pro in Sarasota, FL

Market prices in Lakewood ranch compared to the peak and the bottom...is it still low(ish)? Seems to still be a lot of foreclosures and short sales.

Asked by Karen E, Sarasota, FL Sat Oct 13, 2012

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You're welcome. Good luck with your move and feel free to call if you have any other questions about the market or the community.
0 votes Thank Flag Link Fri Oct 19, 2012
Thanks so much for these replies - at least it gives us a feel for the market. We have two pending job offers/relos in play - one in Bradenton and one in CA - so housing is part of the consideration on where to move.

We are originally from CA and bought or sold 7 different properties in the last 15 years there - so I'm very familiar with that market . Recovery is slow but ticking upward there was well in all areas with the possible exception of the very most depressed/hardest hit.
0 votes Thank Flag Link Wed Oct 17, 2012
Hi Karen. The real key is that Lakewood Ranch, the developer, is raising prices on lots for new construction. This is because inventory of existing homes is very low, so new construction (due to high demand for living in this area) is the only game in town. New construction prices are rising as well, so there really is not much downward pressure on homes anymore. People are sensing that the bottom of this market has passed and opportunities are now being missed, so they are moving quickly on buying property. This has stabilized pricing. Foreclosures that are of good quality are very rare, and when they do come on the market they are scooped up pretty quickly.

If you want to discuss options, please give me a call. I have lived in Lakewood Ranch for 10 years and focus all of my energies here. I'm sure I can help you make good decisions.

Thanks.

Pat Warren, CPA, Realtor
Premier Sotheby's International Realty, Inc.
http://www.realestateinlakewoodranch.com
0 votes Thank Flag Link Sat Oct 13, 2012
As with just about everything, generalizations don't really tell you much. If you are asking about the Lakewood Ranch real estate market in general, we have definitely come up from the low. In fact, we hit the low a while back but that doesn't mean that we are inflated. There are still limitations that tend to keep prices lower than they might otherwise be if the limitations were not a factor (i.e. current lending practices, lower end property conditions, etc.)

If you can give a bit more information as to what you are looking for or thinking about, you'll receive a better, more specific answer.
0 votes Thank Flag Link Sat Oct 13, 2012
Lakewood Ranch prices are definitely going up, but they are still far below where they were at the peak of the market. Just to give you an idea...we bought our house in 2006 for $460,000 it was appraised just a couple of months ago for $315,00...we could probably sell it right now for $330,000.
0 votes Thank Flag Link Sat Oct 13, 2012
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