Zillow sees housing rebound; Florida golf homes may not be “bargain” for long

: Jul 25

According to USA Today and Zillow.com, the Internet real estate site that keeps tabs on home prices nationwide, “housing has turned the corner from its five-year slump." Zillow Chief Economist Stan Humphries said that the rise in home prices for four straight months signals that the nation “has hit a bottom in home values.”

If you have been waiting for a bottom in markets like Phoenix and Florida, the time to pull the trigger may be at hand, according to Zillow. The real estate service forecasts that prices in Phoenix will lead all markets Zillow covers, rising nearly 10% in the next year. Miami follows at 6.1%.

There is some evidence that the most popular Florida golf community areas are following suit. Realtors we work with on the Gulf Coast of Florida point to the shrinking number of homes for sale and increased buyer

Prices for golf community homes in Sarasota, Bradenton and Naples are beginning to rise.

interest as strong evidence the bottom has been reached. While guiding me on a tour of six golf communities in the Bradenton area earlier today, local Realtor Dennis Boyle indicated that the inventory of local homes for sale had dropped to less than a five-month supply; that is lower than what housing experts typically consider "balanced." In short, supply is down and demand is building, a rich formula for sales price increases.

Another member of our Realtor network, Jeff Feldman in Naples, says that prices in some communities there had dropped more than 70% from their highs in 2006, to late 1990s levels. Now, he says, they have begun the steep climb back and have reached 2002/03 levels.

In a matter of weeks, we will begin listing more than 100 golf homes for sale in Sarasota/Bradenton and Naples at our companion web site, GolfHomesListed. Those golf communities will include:

In Sarasota/Bradenton….

Lakewood Ranch

Prestancia (TPC golf course)

River Strand at Heritage Harbour

Palm-Aire

Laurel Oak

In Naples…

Heritage Bay

Vineyards

Imperial Golf Estates

Olde Cypress

Mediterra

If you would like information now on any of these fine golf communities or on these Florida markets, please contact us and we will be pleased to put you in touch with Dennis and/or Jeff.