What do you think will happen to Sarasota realestate?

[dotbowels]

Short Supply, in nany areas of the country, will be interesting to see inventory levels in Sarasota, when Board reports next week.

[TheShyster]

The Bloomberg writer presented a cogent reality:


"The pressure is building in the pressure cooker, and at some point that's going to need to be released,"


Although the writer was focusing on third party investors, they do play a significant role here in FL where large headge funds gobbled up houses all around SWFL and took product off the market, hence created an artificial shortage then resulting in fairly inflated prices. There is little doubt that the Sarasota/Manatee market is already overpriced at least by 20%, and I see evidence of the beginning of a much needed correction in key price points.


I wouldn't touch most of these houses (new construction) at these levels. They're stupidly pricing them. And some of these builders and developers must be drunk or on drugs - from Lakewood Ranch to Lockwood Ridge/Whitfield to North Fort Myers and Bonita Springs. Even Venice is stupidly priced (new), near the key.

[FLHfan]

Originally Posted by TheShyster

The Bloomberg writer presented a cogent reality:


"The pressure is building in the pressure cooker, and at some point that's going to need to be released,"


Although the writer was focusing on third party investors, they do play a significant role here in FL where large headge funds gobbled up houses all around SWFL and took product off the market, hence created an artificial shortage then resulting in fairly inflated prices. There is little doubt that the Sarasota/Manatee market is already overpriced at least by 20%, and I see evidence of the beginning of a much needed correction in key price points.


I wouldn't touch most of these houses (new construction) at these levels. They're stupidly pricing them. And some of these builders and developers must be drunk or on drugs - from Lakewood Ranch to Lockwood Ridge/Whitfield to North Fort Myers and Bonita Springs. Even Venice is stupidly priced (new), near the key.

You said that when you were Cap'nCrunch.... right before your posts all got deleted.

I think you really believe all that garbage. How sad.

There is little doubt the Sarasota/Manatee market is underpriced at least by 20%.

[jabbolito]

The run-up of prices on single family houses all over southwest Florida shows that prices are in fact overpriced, and the major builders like Lennar are currently reducing prices not increasing them, which means they were overpriced already.Looking around at properties by Neal Communities, any knowledgeable and seasoned buyer should see that the prices are sky high, even compared to 18 months ago.

[kimmerthy]

Another interesting read today, Happy Friday!

https://finance.yahoo.com/news/hit-f...000000973.html

[craigiri]

Originally Posted by FLHfan

You said that when you were Cap'nCrunch.... right before your posts all got deleted.

I think you really believe all that garbage. How sad.

There is little doubt the Sarasota/Manatee market is underpriced at least by 20%.

That's just silly. Underpriced?

I think it is fairly priced...or close.

I know folks who just had to drop the price of a top-notch property they built on spec. It's in the middle range also.

I think the SRQ RE fluctuates in a range of about 10-15% on either side of a center...but it is not under or overpriced. You may be able to pay too much or get a deal, but it is luck of the draw or timing.

[Xia Sgan]

Underpriced ? by 20%


We've already seen price REDUCTIONS by a few national and regional builders by 7-12% especially in key corridors of developments.

[FLHfan]

Originally Posted by Xia Sgan

Underpriced ? by 20%

That's right Capn Shekie.
At least you're trying to get more creative with your new names.

[JazzmanLI]

I'm hoping the real estate market levels out. Real estate goes up and up and the salaries stay the same. I cannot believe how much prices have increased in the past few years!

[palmerston]

You will always pay a premium the closer you are to the water. Out State road 64 ETC the money they are asking for new construction homes is crazy. The season will hit and it will take you 45-60 mins to get to the beach. Thats the problem with a lot of nice areas in Florida. The people that have the money think nothing of dropping 450k-800k for a new house considering what they can get down here compared to up north. You will also get a lot of people who comute to Tampa every day from the likes of Lakewood Ranch and communities north of there who can make more money.It really depends on where you are looking. I have to agree certain areas are over priced by 20% Gulfgate being one of them.