the LBK market has done very well still as far as sales are concerned. Alot of property has already sold this yr. on LBK and many are under contract from 10 million dollars homes selling for 7.2 million to 120,000 dollrs mobile homes on LBK, granted prices have gone down in the last few yrs. 30-50% depending on when you bought will justify if you should put home on the market. if you bought your property in the last 2 or 3 yrs. then more than likely you will not get your money back and you are in a position to lose some income, if you bought over 5 yrs. ago there is a good chance you can break even or make some money. i work alot on LBK and my office is on LBK. There are currently 631 listings on LBK for sale in the MLS. Out of those there are only like 20 homes in short sales sitiuation, almost all on the bayside, most on a canal also, and about 20 condos in short sales almost all on the bayside, 1 is on the gulfside but no view, and then there is 1 banked owned in country club shores that is under contract. reason i bring this up is that if you go off the island from Lido to Casey Key and north to Palmetto you will see alot more short sales and foreclosures. The fact that LBK does not have alot of these helps keep the value of these homes up compared to the same home off the island on a canal or gulf. We still have serveral yrs. before we can get back to the market we saw in 2003-2006 but if you were here in the 80's and 90's you will remember prices barely went up at all. Right now in most cases LBK is back to the 2002 prices and in some cases especially with bayside condos some are back to the 1998 prices if not before.
hope this helps
If you want help with listing your property let me know, LBK is my area and I know it well
The Leventhal Team
Coldwell Banker Previews