Sarasota Overpriced by 59% - Good Grief!
A recent article on cnn.money.com refers to a study byGlobal Insight, a financial information provider, and National City Corp. listing what they consider overvalued and undervalued markets.
The article says, "California and Florida accounted for 18 of the 20 most overvalued markets, with Naples, Fla. leading the way. A median home in Naples now costs $367,100, according to the Office of Federal Housing Enterprise Oversight (OFHEO), nearly double what the study's authors estimate it should."
A look at the list shows that the study concludes the Sarasota market is 58.90 percent overvalued. Good grief! Where do they come up with that? True statistics show the Sarasota market is still up about 25% over last year according to an appraiser I just spoke with.
Request a link to the article by sending an email. Contact me at:
http://www.bradentonrealestate.com/index.php?fuseaction=site.contact
The lesson: Be careful of what you read! Yes, the market is slower and prices are not escalating like they have been. But the sky is not falling.
The article says, "California and Florida accounted for 18 of the 20 most overvalued markets, with Naples, Fla. leading the way. A median home in Naples now costs $367,100, according to the Office of Federal Housing Enterprise Oversight (OFHEO), nearly double what the study's authors estimate it should."
A look at the list shows that the study concludes the Sarasota market is 58.90 percent overvalued. Good grief! Where do they come up with that? True statistics show the Sarasota market is still up about 25% over last year according to an appraiser I just spoke with.
Request a link to the article by sending an email. Contact me at:
http://www.bradentonrealestate.com/index.php?fuseaction=site.contact
The lesson: Be careful of what you read! Yes, the market is slower and prices are not escalating like they have been. But the sky is not falling.
posted by Dan Forbes at
1:03 PM
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