Archive for category Real Estate Updates
Manatee real estate falls by 13 percent | HeraldTribune.com
Posted by Joe in In the News, Real Estate Updates on June 2, 2010
First time county’s values declined more than its neighbors
Property values took a dive in Manatee County, pushing the local tax base down 13 percent, according to figures released Tuesday by the county Property Appraiser’s Office.
It marked the first time since the recession began that Manatee County saw a faster pace of erosion to its tax base than was experienced by its neighbors to the south.
In each of the last two years, Manatee posted annual losses of less than 10 percent to the taxable value of its property, while Sarasota County declines reached 15 percent and Charlotte County’s fell as much as 20 percent in a single year.
But the new numbers show the two southern counties lost less than 10 percent of their taxable values while Manatee is projected to lose 13 percent.
The biggest decline came in Palmetto, where County Property Appraiser Charles Hackney estimates a 19 percent decline took place. Meanwhile, Anna Maria Island saw just a 4 percent drop in values.
Hackney said Anna Maria was spared from large property value declines because of its lack of condominiums and the fact that the island was basically built out before the market explosion that took place from 2004 to 2006.
“I would say Palmetto had several large condominium developments that all hit at the same time three or four years ago,” Hackney said. “In the marketplace those units have taken the biggest hit,” he added, noting that there are condos in Palmetto selling for less than half of what they were valued when built.
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It’s “Lee Wetherington Day” in Sarasota County
Posted by Joe in Real Estate Updates on May 25, 2010
Longtime Sarasota home builder Lee Wetherington was honored by the Sarasota County Commission this morning.
Wetherington’s success as a contractor since 1974 has enabled him to contribute to a number of charitable organizations, the Boys & Girls Clubs primary among them. The county commission’s proclamation notes that the Wetherington Scholarship Fund has provided $131,724 to local students, while his Lee Wetherington Foundation has provided nearly $793,000 to youth-related programs, facilities and maintenance at the Boys & Girls Clubs, as well as Oscar Scherer State Park and United Cerebral Palsy.
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