Remember those summer days when double dip meant nothing more threatening than dripping chocolate ice cream on your white shirt. Not only may carefree summer days be in the past, but our economic recovery also seems like a thing of the past.

June 1 and 3 were both bad days for the country's financial recovery. Not only did the job growth numbers tank, so did the stock market. On June 1, Automatic Data Processing, one of the country's leading payroll companies, announced private sector jobs grew at a much slower pace than economists had been predicting.

On June 3, the Labor Department confirmed that only 54,000 jobs were created during the month of May, the smallest in almost a year, and that the unemployment rate was 9.1 percent, an increase from previous months. The jittery stock market closed down in the triple digit range the first day and just under the second.

In addition, on June 1 Standard & Poor's released their Case-Shiller Home Price Indices. The report concluded that the national home price index declined by 4.2 percent in the first quarter of 2011, after having fallen 2.6 percent in the fourth quarter of 2010.

The national index hit a new recession low with the first quarter's data and posted an annual decline of 5.1 percent, versus the first quarter of 2010. Nationally, home prices are back to their mid-2002 levels.

The report further concluded that the rebound in prices seen in 2009 and 2010 was largely due to the first-time buyer tax credit. If the result of this tax credit was removed from the national sales figures, it would result in virtually no recovery.

Further, while last year saw signs of an economic recovery, the most recent data do not point to renewed gains. According to S & P's report home prices continue to spiral downward with little or no relief in sight.

The other cloud hanging over the economic recovery is the fact that over 25 percent of all homes in the country with a mortgage are under water, that is they owe more than the current market value of the home. There are also indications that banks are not foreclosing on properties they have a legal right to foreclose on so they don't inflate their inventory of vacant homes.

These shadow properties could have a significant effect on values around the country if and when the banks do act. Unfortunately, in spite of significant government intervention in the form of tax credits and stimulus funds, it looks like the country is headed for a double dip recession at least in the housing market.

Thankfully, the Anna Maria real estate market has been showing significant signs of a strong recovery, and there are pockets around the country where this is also true, including Washington, D.C. which I found amusing.

However, it's important for us to be aware of what is happening in real estate markets in different areas of the country. Since Florida is and has always been populated with homeowners from out of state, if these potential buyers are stuck in their market, it will be difficult for them to move on regardless of great values available in the housing market.

The best we can wish for is that our local market continues to grow, fueled by buyers who have been sitting on the sidelines so long that the money is burning a hole in their pockets. Everyone wants a piece of paradise maybe now more than ever. Let's hope the only double dips in our future are at the top of a sugar cone.

Sold Date | List Price | Sold Price | Address | Provision | Property Style

Anna Maria

04/01/2011 669,000 645,000 110 Palm Ave 1,225 4 Br/2Ba SFR None
04/04/2011 495,000 460,000 522 Magnolia Ave 1,254 3 Br/2 Ba SFR None
04/07/2011 725,000 680,000 210 Palmetto Ave 2,528 4 Br/4Ba SFR None
04/11/2011 625,000 575,000 748 N Shore Dr 1,100 2 Br/1 Ba SFR None
04/18/2011 774,900 685,000 717 Jacaranda Rd 3,103 5 Br/3 Ba SFR None
04/18/2011 699,000 640,000 320 Tarpon St 2,242 4 Br/3 Ba SFR None
04/21/2011 599,000 550,000 787 Jacaranda Rd 1,777 3 Br/2Ba SFR None
04/22/2011 595,000 540,000 223 Gladiolus St 1,596 3 Br/2Ba SFR None
04/26/2011 495,000 450,000 506 N Bay Blvd 1,512 4 Br/2 Ba, SFR None

Bradenton Beach

04/25/2011 199,000 165,000 111 9th N St 806 2 Br/1 Ba SFR None
04/28/2011 203,000 203,000 102 3rd N St 928 1 Br/1 Ba SFR Short Sale
04/15/2011 128,000 115,000 2501 Gulf N Dr # 103 416 1 Br/1 Ba Com None
04/01/2011 269,000 237,000 2108 Avenue B # A&B 1,100 2 Br/2 Ba Inc None
04/11/2011 175,000 110,000 1003 Gulf S Dr # 1 667 2 BR/2 BA Condo None
04/11/2011 175,000 110,000 1003 Gulf S Dr # 3 667 2 BR/2 BA Condo None
04/12/2011 209,000 206,000 1801 Gulf N Dr # 228 1,080 2 Br/2 Ba Condo None
04/14/2011 285,000 250,000 1801 Gulf N Dr # 174 1,080 2 Br/2 Ba Condo None
04/15/2011 319,000 291,000 236 17th # 236 1,268 2 Br/2 Ba Condo None
04/18/2011 419,900 400,000 501 Gulf N Dr # 403 1,400 2 Br/2.5 Ba Condo None
04/20/2011 237,700 231,200 1301 Bay N Dr # 1a 1,079 2 Br/2 Ba Condo Bank Owned Repo
04/25/2011 189,000 162,500 611 Gulf N Dr # A18 794 2 Br/1 Ba Condo None
04/26/2011 389,900 372,541 109 5th S St # B 1,548 2 Br/2 Ba Condo None
04/28/2011 199,000 185,000 1801 Gulf N Dr # 248 1,080 2 Br/2 Ba Condo None
04/29/2011 149,000 115,000 611 Gulf N Dr # C22 794 2 Br/1 Ba Condo None

Cortez

04/29/2011 849,000 785,000 12410 Baypointe Ter 2,891 3 BR/3 BA SFR None

Holmes Beach

04/04/2011 799,000 727,500 603 Ivanhoe Ln 2,255 3 Br/2 Ba SFR None
04/06/2011 2,390,000 2,000,000 643 Key Royale Dr 5,100 4 Br/4 Ba SFR None
04/08/2011 429,000 385,000 533 69th St 1n739 2 Br/2 Ba SFR None
04/08/2011 314,000 300,000 225 S Harbor Dr 1,236 2 Br/1.5 Ba SFR None
04/11/2011 399,500 350,000 207 72nd St 1,840 3 Br/2 Ba SFR None
04/13/2011 499,900 442,500 614 Gladstone Ln 1,947 3 Br/2 Ba SFR None
04/15/2011 339,000 325,000 6250 Holmes Blvd # 36 1,536 2 Br/2.5 Ba SFR None
04/15/2011 849,000 815,000 130 50th St 2,940 6 Br/3.5 Ba SFR None
04/19/2011 289,900 289,900 19 Seaside Ct 978 2 Br/2 Ba SFR None
04/20/2011 509,000 475,000 214 82nd St 1,536 3 Br/2 Ba SFR None
04/22/2011 469,000 431,000 7203 Gulf Dr 1,108 3 Br/2 Ba SFR None
04/26/2011 669,000 660,000 3103 Avenue E # A 2,200 4 Br/3.5 Ba SFR None
04/26/2011 699,000 675,000 519 74th St 1,879 3 Br/3 Ba SFR None
04/28/2011 435,500 375,000 516 68th St 2,123 4 Br/4 Ba SFR None
04/29/2011 279,000 270,000 21 Seaside Ct 960 2 Br/2 Ba SFR None
04/29/2011 567,500 525,000 228 S Harbor Dr 2,441 3 Br/3 Ba SFR Short Sale
04/29/2011 599,000 590,000 206 56th St # B 2,456 4 Br/3.5 Ba SFR None
04/04/2011 259,000 245,000 6200 Flotilla Dr # 246 1,200 2 Br/2 Ba Condo None
04/15/2011 1,299,900 1,060,000 6404 Gulf Dr # 4 2,181 3 Br/3 Ba Condo None
04/28/2011 229,900 215,000 3607 E Bay Dr # 208 976 2 Br/2 Ba Condo None
04/29/2011 649,900 613,000 2600 Gulf N Dr # 13 1,179 2 Br/2 Ba Condo None
04/29/2011 239,000 200,000 6300 Flotilla Dr # 74 1,212 3 Br/2 Ba Condo None
04/29/2011 399,000 372,500 308 58th St # A 1,984 2 Br/2.5 Ba Condo None
04/29/2011 499,000 419,000 6006 Gulf Dr # 115 1,356 2 Br/2.5 Ba Condo None
04/29/2011 359,000 335,000 2915 Avenue E Ave # 1 722 2 Br/2 Ba Condo None

 

Source: Manatee County Property Appraiser’s Office