Bradenton Waterfront Property Values Soaring
Waterfront values soaring
Survey of Manatee's property tax rolls reveals huge gains in average home prices
NICK MASON
Herald Staff Writer
MANATEE - Joe Bracken worries that he and his Holmes Beach neighbors have too much good fortune.
Average home values soared more than 26 percent in Holmes Beach and Bradenton Beach last year, continuing to lead the pack in Manatee County's hot housing market, according to the Manatee County Property Appraiser's Office.
Bracken's home tripled in value over the past eight years, but he worries because several neighbors cashed in on prosperity by selling their homes to investors for conversion to other use, gradually changing the character of the island.
"It's a mixed blessing," he said. "What we are trying not to do is lose our residential basis. If we all give up, we will have absentee landlords and we will lose the essential values that are why we came here."
The Herald examined property values across Manatee County on the 2005 property tax roll by ZIP code territories to see who gained and who lost in the past year, compared with the 2004 tax roll.
The major findings include:
• The housing boom triggered double-digit jumps in most residential property values, while most commercial and industrial properties rose at a slower pace.
• Most of the biggest gains in value were in ZIP code areas with much waterfront property.
• Residential properties with historically low prices climbed sharply last year because they were affordable, attracting buyers priced out of the soaring new-home market.
• University Park and its affluent neighbors in the 34201 ZIP code west of Interstate 75 and north of University Parkway were the slowest growers.
The rest of the article can be seen here:
http://www.bradenton.com/mld/bradenton/news/local/12855838.htm
I am glad I bought that home on the Manatee river last year. ;-)
Survey of Manatee's property tax rolls reveals huge gains in average home prices
NICK MASON
Herald Staff Writer
MANATEE - Joe Bracken worries that he and his Holmes Beach neighbors have too much good fortune.
Average home values soared more than 26 percent in Holmes Beach and Bradenton Beach last year, continuing to lead the pack in Manatee County's hot housing market, according to the Manatee County Property Appraiser's Office.
Bracken's home tripled in value over the past eight years, but he worries because several neighbors cashed in on prosperity by selling their homes to investors for conversion to other use, gradually changing the character of the island.
"It's a mixed blessing," he said. "What we are trying not to do is lose our residential basis. If we all give up, we will have absentee landlords and we will lose the essential values that are why we came here."
The Herald examined property values across Manatee County on the 2005 property tax roll by ZIP code territories to see who gained and who lost in the past year, compared with the 2004 tax roll.
The major findings include:
• The housing boom triggered double-digit jumps in most residential property values, while most commercial and industrial properties rose at a slower pace.
• Most of the biggest gains in value were in ZIP code areas with much waterfront property.
• Residential properties with historically low prices climbed sharply last year because they were affordable, attracting buyers priced out of the soaring new-home market.
• University Park and its affluent neighbors in the 34201 ZIP code west of Interstate 75 and north of University Parkway were the slowest growers.
The rest of the article can be seen here:
http://www.bradenton.com/mld/bradenton/news/local/12855838.htm
I am glad I bought that home on the Manatee river last year. ;-)
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