Bottom, Bottom, Where's the Bottom?

We keep looking for the bottom of our Bradenton - Sarasota, real estate market. The signs are a bit confusing. Sales are up, that's good. However, inventory is also up, that's bad. Prices continue to fall.

Yesterday, the Florida Association of Realtors noted a University of Florida quarterly analysis showing some disturbing news about our Florida housing recovery:

Florida’s housing market, thought to be stabilizing earlier this year, deteriorated in the latest quarterly survey conducted by the University of Florida (UF), a situation likely brought on by uneasiness about lending practices, insurance rates and the state’s property tax structure, according to UF analysts.

“Like the graying skies over the state tainted by drought-driven brush fires, the mood for Florida real estate has grown more somber since January,” says Wayne Archer, director of UF’s Bergstrom Center for Real Estate Studies.

“Perhaps the implications of the subprime ‘meltdown’ are creating a disquieting haze; perhaps anxiety over property taxes and high insurance rates are shrouding Florida’s otherwise sunny outlook. In any case, there are few signs of improvement.”

Contiue reading here:
http://www.floridarealtors.org/NewsAndEvents/n1-061907.cfm

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Bradenton Real Estate
Dan Forbes