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East County Monday, May 18, 2009 12 years ago

Ranch officials: real estate market is recovering


Lakewood Ranch real estate officials say the economic downturn is shifting.

According to a press release issued May 18, the East County community enjoyed strong numbers in the first quarter of 2009 and is projecting a 35% increase in closings in its second quarter.
Lakewood’s Miramar townhome and condo community is showing particularly positive signs, with only seven condos and four townhomes still left.

“From the end-user standpoint, you’re never going to get better pricing or lower rates than right now,” said Miramar co-owner Charlie Brasington.  “We, as investors in the real estate market, have been looking statewide. We see all the positive signs — great pricing, regained consumer confidence with buyers coming to the signing table and even some price increases.”

Furthermore, homebuilder Neal Communities continues to see activity and sales at the highest levels since 2005.

“We are convinced that the real estate market decline has ended, and the sales cycle has rebounded,” said President Pat Neal. “People are buying new homes and are looking to their futures.  They see that this is the time to buy a home, and they are confidently investing in new homes.”   

Other Lakewood Ranch builders are also reporting sales. Multiple closings are scheduled for the second quarter from London Bay Homes, Gibraltar Homes, John Cannon Homes and Lee Wetherington Homes.
Traffic in the new home Information Center for 2009 is at its highest level since 2005, showing interest is high as buyers realize now is the time to buy.  

“An increase in return visits by prospects who have visited us previously is one of the leading indicators of an improving real estate market,” said Schroeder-Manatee Ranch President and CEO Rex Jensen. “More than 1,000 visitors made return trips to Lakewood Ranch in the first quarter of this year.

"Even post-season traffic numbers are boasting these same trends," he said. "We attribute this to the fact that buyers know that if they are going to make a buying decision now, it had better be on a sure thing like the value that Lakewood Ranch offers.”    

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