Are Home Prices Dropping In Lakewood Ranch?

[@HugoSmitter]

Thanks Sandy. Good content and wise advice. Like with the stock market, buyers' and sellers' emotions run high. Fear and greed are our worst enemies.

[@SandyWilliamsRealEstate]

Thank you! The real estate market is constantly changing.

[@shoshannahsonnabend998]

What is a percentage of a strong deposit?

[@SandyWilliamsRealEstate]

Hi Shoshannah, Good Question. A rule of thumb for homes priced over $500K is 3-5%

[@karnevil9959]

Not by much but they should be. Honestly with the economic uncertainty and inventory on the rise one would have to have their head examined to buy today Lower rates will bring in buyers but there is also a lot of pent up wannabe sellers who are waiting for lower rates to justify the tighter spread between their low mortgage rate and the market rate. Also a lot of shadow inventory in the Ranch where owners are having a hard time justifying the higher costs of ownership for a property that is vacant for a good part of the year. Rents are dropping which for many makes more sense even for people who can pay cash since the additional unavoidable costs of ownership outside of a mortgage has risen almost to the point of the cost of rent considering that the cash saved by not paying cash for a home can be invested for additional appreciation.

[@SandyWilliamsRealEstate]

Thanks for the comment. Yes, Lakewood Ranch is still attractive. In 55+ communities in LWR home prices have remained stable. I just listed & sold a home in Del Webb. I sold it in 2 days, with multiple offers, and the buyer paid over the list price.