Events Calendar

Current Weather

Manatee Road Watch


World Of Floors - For all your Flooring Needs and MORE! I Promise Ad Corn Hole Classic

The Bradenton Times Polls

Poll Question: Do you think that governments should be able to ban or tax paper and plastic bags in grocery stores as a way to offset the high costs of additional landfill space and incentivize shoppers to bring their own reusable ones?

 yes  no More polls »

The Robyn Report with Robyn Davis Sean Tampa Bay yacht Management

Home
Change Text Size: Larger  Smaller

News Section: Business and Financial



Zillow Puts Total Real Estate Losses at $9 Trillion Bleak 2011 Forecast for Florida Market

Published Saturday, December 11, 2010 2:10 am

BRADENTON A new and comprehensive report from real estate research firm Zillow has placed the most well-documented estimates on the loss in real estate value since the widespread decline began in June 2006 a staggering $9 trillion.

 

The bad news doesn't end there. $1.7 trillion was in the last year alone and Zillow is predicting further declines in a market they don't think will bottom out until next summer.

The declines in home value (25 percent below their peak with 51 straight months of decline) are now comparable to those of the Great Depression when they declined for 60 consecutive months to 25.9 percent less than their peak value.

 

While there have been declines in nearly every American market, the depths of those plunges have varied. Florida has been particularly hard hit and according to Standard & Poor's Case-Shiller Index, 2011 will be another tough year for our real estate market.

Case-Shiller released a list of 15 cities that they are predicting will experience the greatest drops in home values by 2012. A stunning 9 of those 15 were in Florida including No. 1 Naples where home prices are predicted to fall from their current average of $260,000 to $196,000. Other Florida cities on the list included Miami (3), Gainesville (6), Ft. Lauderdale (7), Orlando (9), Punta Gorda (10), West Palm Beach (11), Cape Coral (12) and Pensacola (13).

 

Related Story: Zillow Reports Sarasota Among Nation's Top Cities for Underwater Homes

Join the conversation post Facebook comments here or on our site at the bottom of article.

 

  In Addition to Facebook Comments You Can Also Post Comments Below



Non-Facebook Comments:

Click here to add a Non-Facebook comment to this page




 Sign up for our free news subscription - a great way to stay informed!



News World Round UpSports Roundup

Manatee Rural Health Certificate
 


Obituaries

Name Date
Francis O'Connor April 4, 2014
Duane Silver April, 2014
Norma Semrinec April 15, 2014
Lee Jackson April, 2014
Virginia Goodhew April 11, 2014
Dorothy Hackett April 9, 2014
Margaret Nelson April 9, 2014
Robert McNally April 2, 2014
James Hibbs April 4, 2014
All Obituaries






Copyright © 2009 - 2014 | The Bradenton Times | More than just an Online Newspaper | http://www.thebradentontimes.com/
405 26 Avenue Bradenton, FL 34205
Phone: 941-896-7857 - Privacy Policy - RSS Feed
Template provided by Free CSS Templates