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Southwest Florida Housing Market Ready To Recover Economic Forecasters Say

SW Fla. housing market ready to recover, economic forecaster predict

At the fourth annual Bonita/Estero Market Pulse meeting on Tuesday, economic insiders presented a cautiously optimistic forecast for Southwest Florida’s real estate situation.
Many of the more than 200 people who attended were real estate agents and other business owners with an interest in the real estate market. Presenter Bradley Hunter, chief economist and director of consulting with Metrostudy, a national housing market study company noted that home prices in the Ft.Myers and Cape Coral area have dropped to 1997 levels. He also noted that homebuyers are motivated when the deal is good.
Realtors are feeling that the market is approaching the bottom and presenter Michael Timmerman, a senior associate at the consulting firm Fishkind and Associates,
said there are gradual signs of improvement and we are almost to the point where we’re out. Timmerman also said that by 2011 and 2012 the area will begin to exprience stronger housing markets and a rebound in nonresidential construction.