From gloom and doom to hope

The National Association of Realtors recently released the third quarter local market report 2010 for Sarasota/Bradenton/Venice.

At first glance it looks frightening.

On average local homeowners have lost 9 years of equity. In raw numbers locally after 36 quarters equity in local homes was minus $8,700, nationally it was plus $21,500.

The local foreclosure rate is higher than the national average and the economic recovery in the state is slower than the national average.

A lot of gloom and doom.

But what you need to look for is future indicators.

Contruction is on the rise just a bit which suggest stabization of local inventory according to the report.

The 90 day delinquency rate for mortgages went up and the 60 day went down. According to the report that indicates the 90 deliquency rate will soon start slowing down also.

The economy locally is growing and the employment is holding and moving upward.

In the end it looks bad right now but there indictors that we are pulling out of the worst of the housing market locally.

All the best
Greg Owens PA
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com