There have been a lot of articles lately about builders, both local and national, that are having big problems due to the current housing market. Just read a long article about Lennar projecting a fourth-quarter loss and am not overly surprised. It is not because of thier product, which continues to be excellent and I continue to show and sell when I can, but in my opinion the large number of communities and developments they are currently working on. Within a 15 minute drive of my house their are three different Lenner communities under construction, all competing with themselves. Not only do they have many of the same floorplans, they are also competing with each other to give the best price. The largest of which is Heritage Harbor, with its many neighborhoods inside the development they have a very high overhead to keep going.
Now they will have some big competition from the new WCI Community of Tidewater Preserve, on the Manatee River near Bradenton. With homes starting around $500,000, and on Luxury Tower with 70 residences and 4 penthouses...overlooking the river, it will be a very desireable location to live in and with only a 30 minute commute to Sarasota or 35 minutes to downtown St Petersburg, the location is excellent. Anyone not fimiliar with WCI need only look at the Westshore Yacht Club in Tampa to see what they can do. For anyone looking to get in early, now is the time to look at Tidewater Preserve.
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