Will 2008 Bring The Collapse of the Condo Market in Bradenton - Sarasota, Florida?
“We are going to see the collapse of the condo market, both in Manatee and Sarasota counties (Florida),”
said Hank Fishkind. Hank is a Florida economist and his opinion is quite sought after. Once a year he speaks to our local Chamber of Commerce, but this meeting was a Lakewood Ranch last Friday to a gathering of about 300 people.
Fishkind expects very slow growth in 2008. Perhaps 1 to 2 percent at best. Yet, he predicted that our area has reached the bottom in terms of depreciating home prices and surplus inventory. He expects the climb upward to begin soon.
Manatee and Sarasota counties are in favorable positions because of two nearby airports. Namely, Tampa International and Sarasota - Bradenton International. Also, the I-75 corridor runs down through both counties. And, then there’s the sunshine and the gulf beaches.
Manatee County was actually the second best Metro-market for all of Florida in December, as far as number of home sales. We are seeing the surplus of inventory dropping and home prices stabilizing. It does appear to be a great buying opportunity.
Want to know more about our Bradenton Florida real estate market? Please pick up the phone and give me a call.
(Copyright © 2008 By Dan Forbes, All Rights Reserved.)
