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%

[@thomassuchocki8923]

I know this video is 11 months old but was wondering if the trends of resale house prices in LWR are still declining and what does the 2025 outlook look like? And are new construction prices going to start coming down as it seems as tho those houses have stabilized or still going slightly up?

[@SandyWilliamsRealEstate]

@@thomassuchocki8923 we have seen an overall decline in prices for 2024. Smart sellers are starting to price their homes to reflect the market decline. Watch for price reductions as many haven’t come to terms with the price drops. I think 2025 will level out. But interest rates will still play a part in the future of the housing market. New construction: builders are offering more $ incentives. They won’t necessarily drop the prices but will give $$ and subsidize lowering interest rates

[@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.