By Sam

November 30, 2006 06:55 PM | Link to this

Zillow seems pretty accurate to me, if you are talking about buying a trailer home in BB. If you are talking about the sale of the land for redevelopment (where the millions come into play) then no zillow is not accurate, but it shouldn’t be. There is a big difference between the value of a trailer home in paradise and the value of the paradise land under a high rise condo building filled with multimillion dollar condos.

By crazydem

November 30, 2006 07:01 PM | Link to this

Anybody know of any ETF’s that contain Mobile Home manufacturing companies?

HA HA HA!!!

By Mike Fink

November 30, 2006 11:42 PM | Link to this

Anyone know if these people are paying taxes on million dollar properties? I realize SOH will protect full timers, but what about those people who do not claim the exemption? Are they paying tax on a million dollar home (because the tax is based on the “highest value” or “best use” of the land)?

If so, they would be paying about 20K in tax on a home that might only cost 100K to replace. :0

That’s nuts!

By Rich R

December 1, 2006 08:04 AM | Link to this

I’d have to say it’s the land, location. You really can’t get any better then Briny Breezes for location.

Just think how expensive the new units will go for….

Does anyone have any address within there? Quick look can tell you what they’re paying in taxes. Just a thought.

By cw1900

December 1, 2006 09:46 AM | Link to this

You know the funny part about Briny Breezes? They’re sitting on that beautiful land worth millions and not many of them want to sell. The money is just not that important to them, and that is what drives materialistic south Florida nuts. So many of us would take the money and run, but at what cost?

The lifestyle they have now is enviable. If these people would sell and get their million bucks (remember, the trailers are worth zero, it’s the land that has the value), their community would break up, close friends would be be spread far apart in new locales, etc, and at their age, they simply don’t care, and more importantly, they don’t care what we think either. I say more power to them.

It is the attitude of that WWII generation that most of us doesn’t get. If any of you read the Tom Brokaw books on that generation, it was eye opening stuff, same lines along with the book “The Millionaire Next Door”. Those people are so far ahead of my generation in terms of hard work and guts, it’s sickening. I was born in 1965, and my growing up was a cakewalk, fantasy land compared to that generation. We laugh at them going to the early bird to get the dinner deal, yet that is how they ended up with millions and the guy my age laughing at them while he pis$%s away 300 dollars buying a pair of shorts, that guy thinks he’s the smart one.

My wife’s grandmother is still alive and from that generation and lives up in Cocoa Beach. It drives her nuts how her grandmother has a pile of money, yet buys a gallon of milk that she can’t drink all before it goes bad. What she does is she freezes half of it at a time, then uses it later. The point is she buys the gallon to save money instead of buying a half gallon now and a half gallon later. The woman can obviously afford to buy her milk a half gallon at a time for the higher cost, but it’s just in her makeup. They lived through the depression, and we all know, they cannot get that attitude out of them. It’s funny, but it makes a good point about the Briny Breeze people and why most do not want to sell, no matter how much money. These people do not care about impressing anyone. Their lifestyle is more important.

Case in point, on my side of the family, there is an aunt and uncle, second or third or something like that, nonetheless, i know them very well and remember being at their farm at holidays or summers, whenever we would visit, countless times growing up as a kid. They are farmers in a midwest states. They still live in the same old farmhouse that I visited as a kid. They are now in their 80s.

These people are filthy rich and have some serious land holdings built up over the years in prime farmland. They are the nicest people you will ever meet. They have given acres and acres away over the years to their church and favorite charities etc.

They quite simply, have more money than anybody I know except one person, and have more money than probably most of here on this blog put together. They have been coming down to Florida during the winters for years. They could live anywhere and buy it outright. Do you know where they stay in FL? Over in Pasco County north of Tampa, and they spend the winter in one of those manufactured home communities. They could buy the entire development in a blink of an eye. The big, megahouse, is not them. They wouldn’t know what to do with the place. They are not out to impress anyone. They could care less what any of us think. The point I’m making is that is the same generational attitude the people in Briny Breezes have.

That’s the funny part of the whole Briny Breezes thing and how it drives many of us nuts.

cw

By .

December 1, 2006 03:16 PM | Link to this

Mike Fink: I know you never answer a question when you are challenged, like on your faulty math, but I would like to know where this house is you can rent for 2K a month?

I just looked at a 2 bedroom apartment in Townsend Place, opposite an old shopping mall. They want $6,000 per month during the season, and the realtor looked at me like I was a bum when I gasped. Rents are out of control. So where is this magical house? Out west in the swamps? In Pratt and Whitney’s backyard?

By RCA

December 1, 2006 03:53 PM | Link to this

Speaking on behalf of all the Fed members we thought it was time to honestly address the situation the country is facing. This is part of our new policy to be as candid and honest as possible. Quite frankly we are frightened by the rapid falloff in housing permits, the rise in jobless claims, the rise in inventories, and the slowdown in consumer spending. It now appears the landing is not going to be soft and it is also doubtful the financial markets are fully prepared for it.

This slowdown in jobs and wages could not have come at a worse time because consumers are cash strapped already. We now forecast a downward spiral in construction jobs that will spill over into other segments of the economy resulting in additional losses in wages and jobs. Compounding the problem is the fact that many home buyers took the advice of former chairman Greenspan by taking out adjustable rate mortgages with teaser rates that are now about ready to be reset.

Unfortunately we can’t start cutting interest rates just yet because we are also frightened by the massive speculation in the financial markets with stock buybacks, mergers, leveraged buyouts, and trillions of dollars in derivatives floating around some of which we do not even know who the ultimate guarantor is. We are hoping but do not know that the ultimate guarantor of these derivatives is not Madame Merriweather’s Mud Hut in Malaysia.

We do not want to fuel further speculation in the equity markets so we have decided to do nothing for as long as possible. Another reason for doing nothing right now is the rapid fall in the US dollar. This frightens us too. All in all, we have decided the best policy decision is to do nothing while hoping that things get better. Please bear in mind, however, that hope is unlikely to work.

Many financial analysts have suggested that corporate spending will take the place of consumer spending when the consumer is finally tapped out. That can’t and won’t happen. Businesses have no reason to expand headed into a consumer led recession. But instead of wisely holding cash for the rough times ahead, businesses have been spending it on stock buybacks at an all time record pace. As you might guess, this further frightens us.

That we are frightened by so many things is clearly visible in the price of gold. In fact, we really have been trying to figure out why the price of gold isn’t much higher given how frightened we are. This is indeed our latest conundrum.

In the past we have avoided talking about such issues because of fear that we might simultaneously prick the bubble in houses and the bubble in the equity markets. Careful analysis, however, shows that the average consumer is benefiting from the rise in equity markets as much as he benefited from the $34 billion in bonuses that Wall Street just handed out (which is another way of saying not at all). Real wages have been falling for the average guy on the street and that is shown by 19 consecutive months of negative savings rates, which is of course still another thing we are frightened by.

Make no mistake about it, a recession is where we are headed. We admit our role in fueling these bubbles by holding interest rates too low too long. Rather that attempt to cover up past mistakes our new policy at the Fed is honesty, and honestly we really do not know what to do. When we do decide what to do, we will tip off the banks first (just as we always have) because our biggest fear of all is a collapse of the banking system.

Ben Bernanke

By RCA Translated

December 1, 2006 04:34 PM | Link to this

As a public service, for anyone who does not want to read through RCA’s 8 paragraphs of double-talk, here is a brief transaltion:

RCA is poor and has no formal training in economics.

By To RCA Translated

December 1, 2006 05:20 PM | Link to this

You are probably just Easyasabc, who has already proven himself to be wrong, undeducated, poor, and a failed real estate mogul.

Easy, you really are a sad person.

By Mike Fink

December 1, 2006 05:31 PM | Link to this

I will do you a favor, here is the Craigslist for rentals in the WPB area, you will find hundreds of homes to rent for under 3K a month.

The home I am renting is in Evergrene, between PGA and Donald Ross, east of 95.

Also, I would recommend Rent1 Reality; they are off of PB Lakes, and have hundreds of rentals in the area. They can pull the MLS for rentals in whatever community you want to move into; I would be shocked if you were unable to find a home for under 2K a month.

For 6K a month? My god, you might have a different idea of “home” then I do. You should be in a 1.5+ million dollar home in this area. I would look in Frenchman’s Reserve; those homes are great; the rents range from about 3K to 10K, homes range for 1 million to 5+ million. Really great community, just more then I wanted to spend.

Also, Abacoa, if your looking for max sq footage is a great place. You should be looking at 2500-3000sq/ft in Abacoa for right around 2K a month. I was not crazy about that area, but it definately has some big pluses, I would check it out as well.

Here is a link to Craigslist for our area:

http://westpalmbeach.craigslist.org/apa/

By Welcome back RCA!

December 1, 2006 05:40 PM | Link to this

RCA, that was a cool post. Welcome back! :-)

By .

December 1, 2006 06:38 PM | Link to this

Mike Fink: Thank you for responding and trying to help.

After checking public records, I have to conclude that you are overestimating the value of those houses. Although 500K is possible in a couple of sections, by and large most sales in the last 6 months are closer to 300K. One on Taft sold recently for 150K, but I don’t know the circumstances.

Ah well….the Northwest corner of Palm Beach Gardens is way out of the way for me anyway, I need to be near a center of commerce. I don’t think I could even afford the extra gasoline to live there!

Thanks for the effort, though, it was worth a try.

Now if you could just straighten out your math! (taking Mike by the ear….)

By dot is a freak

December 1, 2006 07:26 PM | Link to this

dot, you are without a clue.

you know they say the people who sit and wait and wait, for the perfect, exact moment when everything is aligned just correctly in impeccable formation, when they wait to jump in, whether it is stocks, real estate, or marriage, they fail. why?

simple, really.

there is no perfect moment in time for any decision one makes in life.

you will wait your whole life for that moment that will never come, and then you will wake up someday and realize you have missed everything.

those that win can step up to the plate and make decisions. Indecision produces failures.

You are a failure.

By .

December 1, 2006 08:00 PM | Link to this

Now, now, RCA, don’t be jealous of Mike Fink just because he is cuter than you.

By RCA

December 1, 2006 11:44 PM | Link to this

GOT TO LOVE THEM HATERS. I TOLD YOUR THAT HOUSING WILL DROP. NOW PLEASE, GET MY NAME OUT OF YOUR MOUTH AND START PAYING YOUR INSURANCE BILL (OR NOT) TO CITIZENS OR STATE FARM OR ALLSTATE, LIKE YOU GOOD EQUITY LOCUST MUST DO. MAYBE FOCUS ON SELLING YOUR HOME AT HALF OF WHAT WAS CLAIM FOR IT TO BE WORTH. YOU KNOW THE MORE I READ THE BLOG OVER THE PAST FEW MONTHS, THE MORE LAUGH. I TELL MY FRIENDS AND THEY JUST LAUGH. I DO DISAPPEAR FROM TIME TO TIME, BECAUSE I HAVE LIFE. I KNOW THAT MIKE AND OTHERS DO A GOOD JOB OF KEEP US INFORMED. SO WHILE PEOPLE HAVE MY NAME IN THEIR *HOE, MAYBE THEY SHOULD WORRY ABOUT THE TAX BILLS THEY HAVE TO PAY THIS YEAR. IT NOT ME TAKING YOUR MONEY, IT IS OTHERS. COMPLAIN ABOUT GOVT OFFICIALS AND NOT COMPLAIN ABOUT ME.

THEN AGAIN WHO CARES. I DONT PAY THOUSANDS OF DOLLARS IN INSURANCE WHERE I LIVE. ACTUALLY I DONT HAVE HOUSE NOTE TO PAY EITHER =). HA HA HA HA HA!

By landlord

December 2, 2006 12:13 AM | Link to this

know what I don’t have, RCA? a job! because you send me your money every month! HA HA HA HA HA

By jf.sellsius

December 2, 2006 12:20 AM | Link to this

Thanks for noticing our post on Briny. I agree with the reader that the “Greatest Generation” is not motivated solely by money and the lifestyle BB enjoys with close friends is “priceless”.

As for Zillow, visit our blog Table of Contents for all our posts on zillow, covering topics such as “owner opt-out” (Z says owners don’t have the right to demand Z take down a grossly inaccurate zestimate), the tax man watching to see if you raise your value so he can send you a higher tax bill and many more. Look up “Mining the Elusive Unzillowable” for a great exchange between myself and David G of Zillow (in the comment section) Oh yes, and discover what’s an “unzillowable”.

BTW, the comments here show you have a feisty readership.

By .

December 2, 2006 10:22 AM | Link to this

Why does anyone talk about Zillow when all meaningful sales data is at www.pbcgov.com/papa?

Are you telling me people are not capable of choosing 3 similar houses in their subdivison, or on their street, and comparing?

It’s just plain Zilly. The hype factor is out of control. The information overload obscures, doesn’t clarify.

By to .

December 2, 2006 10:50 AM | Link to this

If you are using papa to find true market value of a property, you are mistaken. those figures are used for tax purposes and a not a true sense of the current market. i agree with you want to search for recent sales around said property, that can help, but even zillow, as bad as it is, can also get recent sales activity as well.

By RCA

December 2, 2006 12:29 PM | Link to this

LANDLORDS HAVE TO PAY TAXES AND INSURANCE TOO. REMEMBER CLOWN, I DONT HAVE A HOUSE NOTE, BECAUSE I PAID MY HOUSE OFF WHILE YOU ARE ON YOUR KNEES LOOKING UP AT CITIZENS, (YOU KNOW THE REST). IT IS GREAT WHERE I LIVE LANDLORD SCUM. LOSER!

By landlord

December 2, 2006 03:00 PM | Link to this

RCA -

My buildings are paid off too ;-)

You work for a living. You’re poor.

So brag some more. It’s free entertainment.

By landlord

December 2, 2006 03:02 PM | Link to this

RCA -

My buildings are paid off too ;-)

You work for a living. You’re poor.

So brag some more. It’s free entertainment.

By landlord

December 2, 2006 03:02 PM | Link to this

RCA -

My buildings are paid off too ;-)

You work for a living. You’re poor.

So brag some more. It’s free entertainment.

By Rich R

December 2, 2006 03:32 PM | Link to this

Come’on RCA, you’ve been on this blog for a long time.

Take a break.

We’ve just come out of a bad time on this blog.

Please, keep some kind of respect.

PLEASE!

By .

December 2, 2006 06:17 PM | Link to this

TO: “to .”

PAPA has all sales activity. I suggest you use “advanced sales” and order by date and then price. You will get a crystal clear report of prices paid by date, in a subdivison, condo, street, or other choices. It is the property appraiser’s website.

www.pbcgov.com/papa

By easyasabc

December 2, 2006 06:26 PM | Link to this

Dot - ignorant as you are, you blew your explanation even when you had the right information.

Choose “advanced SEARCH”, then SALES, RESIDENTIAL, SUBDIVISION name, finally arrange the columns as you want.

Zillow exists because stupiud people don’t know that all sales, tax and title information is public information, available free to anyone who wants it.

The property appraiser’s office did a fine job with PAPA, but they don’t advertise it. People with bs websites like Zillow take the same data and promote their websites.

easyasabc

By .

December 2, 2006 07:33 PM | Link to this

Look at this great tip from Sam:

By Sam

November 27, 2006 05:48 PM | Link to this

Another trick on PAPA is to put in your address, pull up your listing and then hit the mapping function button and then once that comes up, hit the recent sales button and you can find the houses near you that recently sold.

By to .

December 3, 2006 09:01 AM | Link to this

yes, i totally agree. papa has done a great job and is very valuable tool. all i was saying to you and the others that people who type in their address or any address or parcel under general search, the market value shown when you click on “view map” is not all that accurate for true market value. you cannot use that value as you cannot use a zillow value as gospel. i’m not talking about the county’s assessed value, i’m talking about the county’s market value they put on the property that is right above the assessed value amount.

the advanced search functions, i agree, are very useful to recent sales activity in your area.

By to .

December 3, 2006 09:05 AM | Link to this

yes, i totally agree. papa has done a great job and is very valuable tool. all i was saying to you and the others that people who type in their address or any address or parcel under general search, the market value shown when you click on “view map” is not all that accurate for true market value. you cannot use that value as you cannot use a zillow value as gospel. i’m not talking about the county’s assessed value, i’m talking about the county’s market value they put on the property that is right above the assessed value amount.

the advanced search functions, i agree, are very useful to recent sales activity in your area.

By to rca and landlord

December 3, 2006 09:07 AM | Link to this

rich r is right. you two idiots please leave this blog. you are two sound like a couple of drunken high school kids fighting in the parking lot over who gets to do the fat chick.

please leave now.

By rca

December 3, 2006 10:12 AM | Link to this

everyone brags about how much wealth they have and people die all around the world because they dont have clean water! get over yourselves and get over me. it never stop me from posting and it will never stop me from posting when i browse the post. i just state the facts that housing is out of control and everyone wants to play rich, but not pay rich. like i say, it is you that look at yourself in the morning. i just =)

talk to you guys in a month or so!

P.S. I JUST REMIND EVERYONE THAT I AM WATCHING YOU GUYS, BE GOOD.

By landlord

December 3, 2006 02:37 PM | Link to this

TO: “to RCA and Landlord” -

Yo’ MOMMA is the fat chick. Who made you the blog police? Get lost.

RCA - “it’s great here where I live.” Obvious flaw in your logic: your very presence makes it not great. And where exactly do you live? Raleigh, NC?

“My house is paid off:” Yeah, it’s probably one of those countless 40K houses in Raleigh or a town just like it. The vast majority of the people on this blog can write a check and own a “paid off house” in Raleigh NC or Syracuse NY or Memphis TN or Akron OH or Jacksonville FL or wherever nobody has any particular reason for being or buying. What does that accomplish?

By .

December 3, 2006 03:12 PM | Link to this

Hello “to .”

No, I know this is confusing, but where the property appraiser says “market value” that doesn’t mean MARKET market value.

Realtors used to divide that number by .80 to get an approximation of REAL market value. Because the surging prices cause such gaps from one house to the next, you have to make sure you are looking at an updated assessment on an update price, before using that number as a rough 80%.

By RCA is gay, the beak is gay

December 3, 2006 06:25 PM | Link to this

oh what fun it is too ride in a blog posted by RCA gay!

By to .

December 3, 2006 06:31 PM | Link to this

yes, i already knew that 80% rule. i was just letting people that think that, like zillow, had some true meaning at face value.

you are quite accurate as to the divide by .80 rule.

there are many people who think zillow and cyberhomes can accurately price your house, just like people honest to god think kelley blue book is the gospel for pricing your used car. none of those sites should be used as the only way to value your home or car.

however, they will continue to use those verbatim, because, for the most part, the general public is lazy, and worse yet, stupid.

By .

December 3, 2006 08:49 PM | Link to this

“to .:”

Wow. I guess you’re never going to go broke underestimating the taste of the American public ;-)

By .

December 3, 2006 09:24 PM | Link to this

I missed this precious gem from Rich R:

|By Rich R | |November 27, 2006 |03:12 PM | Link |to this | |I’d have to say, |after living in |Boca, my net |worth is |substantially |higher then the |average in Boca. | |In my case, I’ll |thank my family. |I inherited most |of my worth. |Either way, I |don’t finance |anything. AT ALL.

Rich, what should I say? That you’re a fool to count other people’s money? You are. That you’re a fool to brag? You are - espcially when you live in cheap housing in Mayberry.

Rich, my housepainter is a multi-millionnaire.

My auto-mechanic (when he goes to work) is a multi-millionnaire.

My friends are multi-millionnaires, all from Boca.

Rich, there are lots of people in the world worth more than the typical character — and they are characters — walking around Boca Raton. You just aren’t one of them.

By inherited money

December 3, 2006 09:42 PM | Link to this

Many people have inherited money.

Those that keep it to themselves and do not feel the need to brag about it, live in Jupiter, and that is considered old money, even if inherited.

Those that can’t keep it to themselves and need to brag about it, live in Boca Raton, and that is considered new money trash….very new, inherited money.

Ask the people with real, old, hard earned money. That will be the common feeling.

Truth hurts, but it’s accurate.

Anyone remember “The Maggot Mile”?

By rca

December 3, 2006 10:36 PM | Link to this

i guess the namecalling wont stop.

anyway, pay your insurance and taxes losers.

ha ha ha ha ha!

“Ask Nancy Bagley about the relationship between the housing slowdown and her net worth, and the Delray Beach homeowner is emphatic. ‘Absolutely, I feel less wealthy,’ says Bagley.”

“It’s a sentiment shared by many homeowners in Palm Beach County and the Treasure Coast as the once-sizzling real estate market cools. The median price of a single-family home in Palm Beach County fell 12 percent from October 2005 to October 2006, the Florida Association of Realtors said last week, while national home prices dropped a record 3.5 percent for the year.”

“An increasing number of home sellers are getting less than they paid for houses bought last year or earlier this year, according to Palm Beach County property records.”

“Ronnie Pryor says she’ll spend about $1,500 on Christmas gifts this year, the same amount she spent last year. Though Pryor is pessimistic about the economy, she says the housing market won’t affect her spending. After all, she’s not selling her house now, so she can ignore short-term fluctuations in its value.”

“But, Pryor says, ‘If you have to sell, it’s very tough.’”

Here we are in the Lower Keys: 1600 homes on the market. We just had 22 homes go to auction and not one minimum bid was met. Not one!

Interestingly enough, one house sold below the minimum bid. The person selling his home below his minimum bid was a Realtor. That’s like an insider at Enron selling stock while he and all his boardroom buddies are emailing employees to keep loading up on Enron in their 401s and telegraphing “BUY ENRON” to analysts and investors in glowing press releases.

COME BACK BY JULY 2007, KEEP CALLING ME NAMES AND WATCH PRICES FALL EVEN MORE. PROPERTIES ON STRIPS OF SAND CANT SURVIVE THE PRICE DROP.

JUST A BUNCH OF LOSER. LOSERS IN LIFE AND LOSERS IN THE HOUSING MARKET.

OF COURSE YOU CAN OWN A PROPERTY, BUT YOU PAY TAXES AND INSURANCE. NO INSURANCE AND A CAT 5, NO LIFE SAVINGS FOR YOU, JUST A BAG BOY AT PUBLIX.

By RCA

December 3, 2006 10:49 PM | Link to this

CITIZENS IS COMING TO PBC NEXT!

A representative for Citizens Insurance, the last insurer of choice in the state of Florida … and whose rates are set by the government, not by their quasi-governmental agency … got verbally jumped by a group of angry politicians and citizens from the Lower Keys in a meeting a few nights ago.

To show you what some of these folks are going through 14 months after Wilma, one representative of a Condo down here whose roof was blown off and which has now been replaced for $3.5 million, has yet to receive its first check.

Another man stood up and told the audience about his ancient house constructed by shipbuilders and which has withstood every hurricane since it was built years and years ago. His wind insurance payments to Citizens this year jumped from $3,900 to $18,000.

Mind you that Citizens is bragging to the governor that "average" rates have only gone up 57%. And that last story is not a lie. My old roommate is paying $20,000 premium for wind with a $30,000 deductible. He wants out of the Keys so bad he's losing his mind.

Again, if you want to live in the Keys, rent. DO NOT BUY.

This is only going to get much, much worse.

Thanks FreeThinker!

Almost no one living in Key West thought this could possibly happen. Even after reading this most will discard this story as “Florida Thing” thinking it can’t possibly happen to them. Well it can and it will happen in many other places (and the entire state of California is pretty much one of my prime targets). The worst is clearly yet to come.

By jarhead

December 3, 2006 11:30 PM | Link to this

All you whiners need some discipline.

Inherited Money: are you some kind of inbred freak? Jupiter? Jupiter is a bunch of housing developments that didn’t exist 20 years ago. The “old money” you dream about is in Eastern Boca and the Town of Palm Beach. You are a loser, grunt. By the way, what did you ever do to build this country instead of just suck the life blood out of it? Flashing little children in your rain-coat does not count as building the country.

RCA - you announce you’re leaving, and here you are. Want to know why? You don’t have the personal discipline to stay away. Another loser. You are here crowing that house prices are going to fall. Guess what. YOU’RE A HOMEOWNER, STUPID! Let me know when you cut your own throat. I want to hear you bragging about it.

By crazydem

December 4, 2006 08:51 AM | Link to this

Next article, please. This dialogue has gone nowhere. (Doesn’t seem like any of the locals posted this weekend-maybe they had too much going on down here in Sunny South Florida?)

By the jarhead is gay, the beak is gay

December 4, 2006 09:11 AM | Link to this

Remember when we did the moonshot And Pony Trekker led the way We’d move to the Canaveral moonstop And everynaut would dance and sway We got music in our solar system We’re space truckin’ round the stars Come on let’s go Space Truckin’

By jupiter island

December 4, 2006 09:29 AM | Link to this

To Jarhead,

I would assume Inherited Money meant to say Jupiter Island. If that is the case, he or she is correct, and yes, Palm Beach, and East Boca, obviously very old monied places themselves. I think we all believe he was talking about West Boca new money.

The post was very funny with much truth to it, again, assuming he or she meant Jupiter Island.

By cw1900

December 4, 2006 10:00 AM | Link to this

Good morning,

A few things.

The local who regularly post have not been here all weekend, myself included. Too much to do on the weekend instead of sitting inside playing on your computer, on a beautiful so fla weekend like this one.

monday morning note from cw:

• The only good dialogue I read this morning was on the “No housing bubble, just a soufflé” older blog between Comparison and EX-NY. I tend to go along with EX-NY and makes some valid points about the future here. Much better than the swill between landlord and RCA. Too people who had nothing else to do on a glorious so fla weekend. So sad.

  • To jf.sellsius - Thank you for your kind words on my earlier post. Yes, I firmly believe my generation owes our easy lifestyle to the WII generation, and yes, we cannot hold a candle to them for pure hard work, and much personal sacrifice.

  • The Maggot Mile?! Haven’t heard that term in awhile. Yes, I remember it well. I worked for one of those disgusting penny stock firms on South Federal Hwy in Boca while I was trying to learn the stock market. After all of these years, I still feel bad for selling people those crap penny stocks. I was young, dumb, and full of c**, and haven’t been in that line of work for many years.

  • I think the Inherited money post was right about Jupiter Island. It does have the highest per capita net worth, higher than Palm Beach, but not sure if that is case today, as I did read that awhile ago. I left Boca years ago, couldn’t take the plastic attitude and all of the wannabes, who, yes, lived in west Boca.

  • Best post of the weekend posts is by dot is a freak about indecision and failure. 100% correct. It was perfect.

  • Crazydem, you are right. We need a new topic.

By realtor is desperate

December 4, 2006 01:04 PM | Link to this

If a realtor, who bragged last year about how much money she made, never put anything away for when the going got tough, quit the biz a few months to go sell cell phone service, couldn’t hack that, now is desperate, when back to her old re office, and the first and only listing she put is her own house, asking price $100,000 lower than she bragged last year that is appraised for, so, because she is desperate for cash, and she has resorted to trying to sell her furniture and personal belongins on ebay, and her home will sit on the market forever because of the lousy design of that house that she built, my question is, if that house sits on the market for the next 6 months without a buyer, will the realtor make a noise when she realizes what comes around, goes around?

By Realist

December 4, 2006 02:06 PM | Link to this

To:realtor is desperate

If realtors are getting that desperate it sure is going to add to the inventory. How many realtors are in PBC? 10,000 or so? Lot more houses going on the market. The downward spiral continues.

By realtor is desperate

December 4, 2006 04:54 PM | Link to this

The realtor I was referring to is a neighbor of mine.

She is in panic mode and I think blew all of their money on cars, vacations, etc and are now broke and desperate.

The problem is, if she sells low, all that will do is lower the comps in the neighborhood.

She’s an idiot, and a perfect example of how many thousands of idiots are out there trying to sell right now.

By realtor is desperate

December 4, 2006 04:56 PM | Link to this

The realtor I was referring to is a neighbor of mine.

She is in panic mode and I think blew all of their money on cars, vacations, etc and are now broke and desperate.

The problem is, if she sells low, all that will do is lower the comps in the neighborhood.

She’s an idiot, and a perfect example of how many thousands of idiots are out there trying to sell right now.

By Looking at Boynton/Delray

December 4, 2006 06:03 PM | Link to this

Does anybody have any advice on a decent neighborhood in Boynton or Delray that is price say around 400k or so? I’d rather live as East as possible, but I understand that there are some questionable neighborhoods in east boynton.

I’m a first time homebuyer and can afford to live in a OK neighborhood, but I’d like to keep my home price down to around 400k or so.

And before any of your crazy’s go off, I’m not a realtor and I’m not in the real estate business. I moved here at the peak of the boom and couldn’t afford to buy then without getting an interest only arm. But now I can afford a 30 year fixed between 300 to 400.

By .

December 4, 2006 06:08 PM | Link to this

TO: “realtor is desperate”

Correct me if I am wrong, but it sounds for all the world like YOU are desperate — desperate to prove that you are somehow better than your neighbor. After all, she puts her kids to sleep in their own bedrooms in a house every night, and always will. You never will. She has new cars and takes vacations. You can’t afford them. She manages to provide for her family. You don’t.

Life is now, not when the median home price reaches a certain level. Life is passing you by, and you are in a panic, all right.

There is an idiot, but it is not your neighbor.

Don’t bother writing to tell us how you are wealthier than Donald Trump, and just living in your complex as an alternative to the peace corps. We already have your number.

By .

December 4, 2006 06:29 PM | Link to this

Looking:

With higher new home prices all the time and no significant dip in resale prices, along with higher wind insurance rates, higher property taxes, and higher mortgage rates, it makes absolutely no sense that you can afford something now you couldn’t afford a year ago. Have you talked to an accountant? Or do you not bother with such trifling details?

I can see the crazies jumping up and down now insisting that prices are crashing. That being the case, let’s have the crazies tell you where you can get a habitable house in East Delray for 400K or less.

This should be fun.

By realtor is desperate

December 4, 2006 06:33 PM | Link to this

Sorry dot.

You have me all wrong.

I am an owner and have been for many, many years. matter of fact, I own more than one piece of property right here in south Florida.

Unlike my realtor neighbor, I don’t need to be desperate because, probably like you, we have stored enough reserves away for a rainy day.

I was merely commenting on people’s desperation today in getting out at anyt cost, when not too long ago, they were thinking just the opposite and bragging that they were Donald Trump, as you say.

No, I’m not wealthier than Trump, don’t claim to be, but I’m certainly not desperate.

It was a nice little rant thinking you knew me, but you were wrong. My neighbor is the one that cannot afford her bedrooms anymore.

By .

December 4, 2006 06:45 PM | Link to this

“deperate” -

You know that for a fact. You can get up in court and swear on a stack of bibles as to what your neighbor can afford.

To all the tactless, envious, self-deluding stupid people in the habit of counting other people’s money: Just stop it. You don’t have the slightest idea of what someone else has, it’s probably more that YOU have, but at any rate, it’s none of your business.

By dot dislikes everybody

December 4, 2006 06:55 PM | Link to this

To .

It seems as though if you agree or disagree with someone, you still sound like a miserable person.

what gives?

signed, everyone here

By To.

December 4, 2006 06:56 PM | Link to this

My financial condition has improved dramatically from a year ago. I have reduced/eliminated other debt and I can afford a meaningful downpayment.

I want a 30 year fixed (and I don’t want anything to do with these “exotic” mortgages), but last year I couldn’t afford that with prices in the mid 500k range where I was looking in Northern PB County.

Prices for properties up there are now in the low/mid 400s now (at least at homes that I’m looking at), and I can afford a 30 year fixed on those properties.

I figured I might as well expand my search to become familiar with other areas in the County. So dot, do you have any insight?

PS: From the sounds of things, it seems like you are the one that could use a little financial help.

By dutch

December 4, 2006 06:58 PM | Link to this

Hey, how come only people of fairly low means brag about how much more they have than their neighbor?

Can you imagine Warren Buffett going on the air and chuckling: I have so much more than that stupid Donald Trump - HA HA. Would you believe it if you saw it?

No. Perhaps it is that “noblesse oblige.” Perhaps it is that Buffett and company are wealthy because they can bear their good fortune with grace and humility. Either way, it is generally a poor boob like “desperate: who attacks those she hopes are poorer.

By To dot

December 4, 2006 07:21 PM | Link to this

Hi .,

I can’t swear on a stack of bibles. I worship cardboard boxes.

They talk to me.

By .

December 4, 2006 07:21 PM | Link to this

TO LOOKING:

You were probably gulled by the astronomical, absurd, arbitrary asking prices people were advertising last year and earlier this year.

There is no relationship between those asking prices and the prices people really paid. Properties that you thought were going for 500K in Abacoa may have sold for more like 350K.

Get on www.pbcgov.com/papa and look at real sales prices for any community you like: you will soon see prices have not dropped 100K, if at all.

Suggestion: Look at some of the deals from the homebuilders who are offering $1 move-in. Monthly payments from one company I have in mind start at $1100 for smaller properties with $1 move-in, from Vero Beach to Boca Raton. Can you handle that, honey? I think you can.

By to dot

December 4, 2006 07:30 PM | Link to this

hey dot,

how do you know or why do you think looking is a honey. couldn’t looking be a male? how do you know?

ps you do sound miserable, that other person pegged you buddy.

By .

December 4, 2006 07:45 PM | Link to this

“buddy”

You’re funny.

By .......

December 5, 2006 05:43 AM | Link to this

Say, where can I get a job like Jeff has, where you get paid for writing 120 words a week?

I think he is going to wind up surpassing Hemingway’s “bullfighting” article.

By Mike Fink

December 5, 2006 06:35 AM | Link to this

Looking,

I think you have gotten some decent advice on here, but what someone said above is just blatently not true and needs to be corrected.

There is no relationship between those asking prices and the prices people really paid. Properties that you thought were going for 500K in Abacoa may have sold for more like 350K.

Get on www.pbcgov.com/papa and look at real sales prices for any community you like: you will soon see prices have not dropped 100K, if at all.

PAPA is a good resource; but that’s where this advice should end. Prices in Abacoa have not dropped? Are you kidding me? I don’t know if they are down 100K yet, but they will be soon. The “manufactured” communities seem to be taking this the hardest (Downtown, Abacoa, CityPlace, etc) because they are nothing that cannot be recreated right down the street next year. Also, if your looking at new homes on PAPA, be very aware of the incentives that may have been present in that sale. If you buy a home for the “same price” that someone paid for it 1 year ago, you may, in essense, be going 10-30K underwater just by signing on the line.

Anyway, I will reiterate the party line for the person looking to buy today. It’s never a good time to buy into a falling market; never! Interest rates might go up; you can refianance when they go down again. Good luck “refinancing” your taxes and insurance after you overpay for home.

If you can afford a 400K home, rent a 2K home for a year, take the extra 2K a month and put it in the bank. Now you have an extra 24K for your downpayment, and prices will just have continued their downward spiral. Do you really think that 3-5 years worth of inventory is going to go anywhere in 1 year? Sellers will get more and more desperate and prices will continue to fall.

Anyway, look around in 1 year and decide if you think the market has stabilized. Is inventory under control? Are the YOY prices looking more normalized? If not, rent again.

2K a month will rent you a 500-600K home, why do you feel the need to buy today?

By Condo King

December 5, 2006 08:44 AM | Link to this

To: Looking,

try east boca if that is not too far south for you. Several of the older homes off Federal Hwy are in your range. They may need some work but they come with a nice bit of land, near the beach in a town with a good name. Try looking around the Spanish River Yamato area.

By Looking

December 5, 2006 09:09 AM | Link to this

Thanks Mike and Condo King for the advice. Waiting so far has worked well for me since I’ve done what Mike has said, but for other reasons it may be time for me to buy.

To Dot and the home prices in Abacoa: 107 San Remo, a 3/2/2 with a screened pool in Abacoa closed in Jan 06 for 565k, according to PAPA.

118 Florence, the identical Abacoa home (3/2/2 screened pool) which is just behind 107 San Remo is listing for a negotiable 439k.

That’s over a 100k difference!

And those “builder incentives” sound like a bunch of nonsense to me. I’d rather have them give me a break on the price and get a regular mortgage than get caught up in one of their marketing schemes. The new home construction prices that I’ve looked at (Divosta and Centex in Abacoa, MI homes in Paloma) are still much higher than similar/identical prices on the resale market.

By cw1900

December 5, 2006 09:31 AM | Link to this

To Looking,

Mike Fink and Condo King have given you some decent advice ni their own way.

It seems as if you are on the right track.

The one thing I would differ with Mike on is that, when you said “for other reasons it may be time for me to buy”, then those are reasons only you know and are comfortable with.

To quote Dot is a freak from above:

“there is no perfect moment in time for any decision one makes in life.”

So Mike, what that poster was trying to say is that only fools believe they know when the bottom or top has been reached whether it is real estate or the stock market. Those are guys with the crystal ball and I don’t have one. Neither do you, and neither does easyasabc or Rich R. That brings up a good question, where is easy these days?

Mike, I am not calling you a fool at all, just saying that it is fools who honestly believe they can snag that top or bottom and know the exact moment it happens.

I would rather try to find that middle 80% and let other so called experts get that extra 10% at the top and that extra 10% at the bottom. That is a very hard game to play and they generally lose. Going after that middle 80% is far more lucrative in the long run and easier to achieve.

Good luck Looking.

cw

By Signed

December 5, 2006 10:08 AM | Link to this

I miss easyasabc.

Oh where, oh where has my little easy gone Oh where, oh where can he be With his jabs and put downs and his pies Oh where, oh where can our easyasabc be

Signed,

That guy in the grocery store at the end of the isle holding two bags of potato chips trying to figure out if he wants barbs or sour cream and onion….

By Donaldette Trumpocity

December 5, 2006 10:44 AM | Link to this

My Summary of Dealing with Sellers for the Past three years in Lake Charleston

2004 - I Can’t Believe my Home is worth That Much!

2005 - I Can’t Believe my Home is Only Worth that Much

2006 - I Can’t Believe my Home is worth less then last year!

Sincerely,

Stay out of Boynton Beach. Your kids will be bussed to hell on earth

By looking out of state for cash flow

December 5, 2006 10:50 AM | Link to this

…because it is non-existant here at this time.

I have had quite a few clients buy investor homes in Kansas City recently.

The SF investors buying cash flow homes in Kansas City had picked up the past year. Homes in KC are selling below market. It’s a great time to buy in that area for cash flow rental homes!

By 2007?

December 5, 2006 10:59 AM | Link to this

Are homedebtors going to get more and more mad at the “bitter renters” and “bubblesitters” as we move into the 2007 meltdown?

And will renters be seen as financial geniuses, whereas homedebtors will be viewed as suckers and fools who got played by the REIC in the ultimate con game?

By used car salesmen

December 5, 2006 11:04 AM | Link to this

“You could be selling shoes yesterday and making loans tomorrow,” he said in a 2004 interview. “Ninety percent of our population has the majority of their money in their home, yet we have people out there who are uneducated, who do not have a lot of experience in the business, who are not being managed correctly.”

= Scott Greenlaw, founder of the now defunct Kirkland mortgage company in Seattle. The sudden demise in May of one of Washington’s largest mortgage brokerages has left a trail of angry ex-employees, expensive lawsuits, unpaid taxes and government investigations.

By Anyone need a good divorce attorney

December 5, 2006 11:12 AM | Link to this

Just read the following situation, multiply by 1,000,000, and you get a picture of what’s happening in over-leveraged collapsing homes across the USA today.

You just know it was the type-A guys out there who mortgaged their way to the hilt, told their unsuspecting wives that they were well on their way to getting rich, and then POW! the music stopped.

Now the wives, who loved it when the money was pouring in, are pissed. And soon, very soon, they’ll be on their way out.

Little do they know though that their credit will be as screwed up as their condo-flipper-fool husband’s.

2008 career tip: Divorce Lawyer.

We had to borrow 4K to pay basic bills including my wife’s minimum credit card payments which jumped from 1,000 to 2,500 because of late fees and going over credit limit.

The thought of relief via bankruptcy has been on my mind lately. However, she will not let me ruin her credit. I promised her at the beginning that no matter what happens I will save her credit. That was the only way she would let me use her credit cards for real estate deals. She is right. I must keep my promises.

She asked me if I have a plan. The base salary with Chris is not enough. She is saying that almost three years of marriage on a financial roller-coaster is getting old. (Added for clarity: My entrepreneur adventures are putting a big strain on our relationship.)

Even though she has been very supportive through all of this, everybody has a limit.

You see, I unintentionally gave her the impression that I was successful when we were dating (I still had some money left from from my first condo flip).

Later, right before the wedding, she found out that I was really “broke as a joke”. I even bought the ring on a credit card and went into debt for the marriage expenses. She came into the relationship with no debt and excellent credit expecting stability and married into a financial storm without really knowing it.

She also expected for me to pay for college so she can finish her 4-year degree. Her parents were paying for it before but stopped as soon as she got married. I told her not to worry about it. I have it under control.

I’ve set some high expectations. No wonder she is feeling disappointed. I owe it to her to make it right.

By i want to teach re

December 5, 2006 11:18 AM | Link to this

Last night I drove past a School of Real Estate licensing.

Why did I have the spooky feeling of a priest walking past a possessed home? Why did I get the sense that evil, greed and debauchery had infested the building?

Seriously, I was just waiting to be attacked by angry flesh eating zombies spewing out of the office.

“Be gone, demons from hell! I cast you out!”

Maybe I was just over-reacting.

I do wonder how enrollment is these days at Realtor School. If you really want to see the last sucker in, or the Greatest Fool, stop by one day. It would be fascinating to talk to anyone stupid enough to be enrolled there today.

But if you go, bring garlic.

By and now i dedicate this song

December 5, 2006 11:20 AM | Link to this

…. to all the suckers who bought overpriced condos next to the ghettos of Delray Beach, hahahahahahahaha!

Signed,

Elvis has left the building

By ooppps

December 5, 2006 11:25 AM | Link to this

Who is the MOST screwed:

Homebuilders Realtors Mortgage Brokers Hedge Funds Appraisers Home Depot Clerks China Bankers Illegals who want to cut grass Homedebtors Stucco manufacturers Pottery Barn Other _

By rca

December 5, 2006 11:29 AM | Link to this

READING IS LIKE ABC, EXCEPT NO ONE READS.

Credit Bubble Expansion History

In the wake of a dotcom bust that Greenspan refused to let play out, interest rates were slashed to 1%. Low rates fueled massive overinvestment in housing. The Fed started hiking.

To keep the housing bubble going, credit lending standards dropped with each rate hike. Housing prices soared and pay option arms and other products were invented to keep housing affordable. Stock funds resorted to selling options to “gain income”. Speculation in credit default swaps soared. With each rate hike in the U.S., the carry trade in Yen became more and more attractive. Speculation in various carry trades soared.

Carry trade speculation compressed yields across the board in all kinds of things. The housing bubble eventually burst due to pure exhaustion but CPDO speculation came to the forefront to keep things humming. This further suppressed credit spreads. Hedge funds unhappy with gains on CPDOs resorted to increased leverage. Derivatives trading soared to $370 Trillion.

Running out of room on CPDOs, money started pouring into leveraged buyouts. End of the line?

By great scott wilma i must be in haines city

December 5, 2006 11:32 AM | Link to this

In the end, millions of Donald would have beens will lose their homes, the homes they told everyone they “owned”, the homes everyone told them would “be a great investment”.

I’m not sure which is more stupid, Bush’s “ownership society” recommendation to buy at the peak regardless of price, or his “we’ll be treated like liberators” idea in Iraq.

Get ready America for a wave of millions of unemployed, destitute, angry and hopeless citizens. Thank you Alan Greenspan - I hope you sleep well tonight.

Foreclosures jumped 43 percent nationwide in the third quarter from a year ago, according to RealtyTrac Inc., providing further evidence that the housing market keeps slowing.

About 318,000 properties entered some form of foreclosure in the third quarter, up 17 percent from the second quarter, with sharp jumps in Nevada, Florida and Louisiana.

“What our third-quarter research appears to be showing is that the first wave of adjustable-rate mortgages is having a negative impact on the number of homes going into foreclosure,” said James Saccacio, chief executive of RealtyTrac. “With the volume of these loans - more than $1 trillion of them due to adjust over the next 15 months - this is a trend that bears watching.”

Many of these loans let buyers put down little or no money on houses, and analysts are watching to see how these refinancings affect the market.

By crazydem

December 5, 2006 11:59 AM | Link to this

Looker-If you’re still here:

Boynton-There are some pockets around Seacrest and up toward Lantana road. (Drive thru on a Sat night before buying.)

Delray-Closer to the tracks the better-East of tracks ideal.

Also, you might try eastern (east of 95) area in West Palm btwn Okeechobee and spillway in Lake Worth-stay east of Dixie ideally. There are nice streets west of Dixie but be selective. Prices are below 400k on some homes there but the markets are not flooded in that range.

Good luck!

By crazydem is being sarcastic

December 5, 2006 12:14 PM | Link to this

closer to the tracks the better……i luv that one crazydem.

what about living along the tracks in evergrene? would that make me rich?

signed,

the guy in high school who wore the pink izod and flipped his collar up to impress the chicks

By To looker:

December 5, 2006 12:18 PM | Link to this

Looker-If you’re still here:

If you look in WPB, please read latest FBI crime stats. And for god’s sake please invest in kevlar flack jacket, and whatever you do never never leave your home at night. Other than that you should be fine.

By is easyasabc really maxmoose

December 5, 2006 12:27 PM | Link to this

?

Notice both have been absent for quite some time and at the same time. Rich in Mayberry is getting a false sense of security

%turk182%

By you are incorrect

December 5, 2006 12:37 PM | Link to this

You are incorrect sir. maxmoose is really easyasabc and easyasabc is really student and student is really crazydem. Now I am confused who am I?

By Looker

December 5, 2006 12:44 PM | Link to this

Thanks for the input crazydem. And thanks for the tip about checking places out on a weekend night.

I’ll probably check it out this weekend and report back.

By ok then who is

December 5, 2006 12:46 PM | Link to this

ok, then who is cw1900? Is cw1900 really RCA or Rich R or maybe he is easyasabc also?

sincerely,

maxmoose

By you are all wrong

December 5, 2006 12:49 PM | Link to this

i think mike fink and cw1900 are the same person playing opposite roles.

They could be cross dressers, but hard to tell with all of the lipstick.

By Rich R

December 5, 2006 01:10 PM | Link to this

Rich R is right here.

Just reading this useless babble and waiting for new number.

I have gone nowhere, but will be taking vacation between Xmas and New Years, but don’t worry, I travel with laptop.

I am getting a kick out of all of this madness.

Rich R psychnet@yahoo.com

By crazydem

December 5, 2006 01:43 PM | Link to this

Correction-actually think I meant east of Dixie (or old school square, whatever road that is on) in Delray. The RR tracks are even farther east and I don’t think there’s anything east of there for less than 500K. tread lightly just east of 95 in Delray.

By student

December 5, 2006 02:57 PM | Link to this

Toll Brothers, Lennar Homes, KB Homes, Centex all up 3% or more yet again today, at this time.

crazydem said something about not staying on the sidelines. Every day I have made money playing the homebuilding market, while the rest of you sit here and complain about it, or gloat about it “crashing.”

Some of you could have made enough money in the last two months to pay off your mortgage and stop worrying about it.

Robert Toll of Toll Brothers today hinted that we have already moved off the bottom of the housing market. When people understand that, it is time to sell homebuilders. Thankfully, CNBC interviewed some ditz analyst at 2:15. She called for a huge drop in housing stock prices. Naturally, they started moving up within minutes, and have not stopped.

No, I am not crazydem.

By realtor

December 5, 2006 03:31 PM | Link to this

Easy,

Why do you berate us realtors? We provide a valuable service. Besides who can afford coke today? Have you seen the real estate market lately?

Student,

go for it, I used to day trade before the dot coms imploded. However, it was some of the best days of my life. The thrill of risking my money every day was like a high. I went to Goldcoast School of real estate to learn The Profession, now I think my next venture is gold trading.

By crazydem

December 5, 2006 03:48 PM | Link to this

keep it up student-the haters (profit chasers) on here are the ones buying mellon bank after the buyout yesterday thinking they are ahead of the game…they are adding to their las vegas sands holdings after making large purchases of that stock at 88 after it went up from 40 in Jan/06. a life of profit chasing will only get you big taxes and consistent losses.

BTW-only one crazydem on here-the locals here probably recognize my philosophical leanings by now.

By To Student

December 5, 2006 06:11 PM | Link to this

Hey Student, do you think the increase in homebuilder stocks has anything to do with them dropping S. Fla. like a hot potato.

For example, didn’t Centex or Lennar pull the plug on the 10,000 home Exploration Pointe development recently?

Lennar also sold a large parcel of raw land near Indiantown and 95 where they were going to build a development. Divosta, I believe, also sold a parcel of land near there.

So, if the stocks are increasing as they are pulling out of S. Fl., then what does that say about the local r/e market?

By student

December 5, 2006 07:49 PM | Link to this

Realtor - I already did the gold thing earlier this year, did very well per centage wise, just needed more to invest than I had. Once the public is hip to it, the professionals have been and gone.

crazydem - right you are. See gold adventure just above. People who spend their lives chasing profits are usually a couple of steps behind. Even though the housing stocks are up so sharply lately, what drew me to them was not the money but the message — home ownership in Florida has a great future. See Jeff’s latest blog.

TO “to student:” I don’t know where you live, but everywhere — everywhere I look there is new construction. There is not an inch of land left untouched in Broward, and when I drive up federal Highway into Boca, Delray, Boynton, it is exactly the same. Cranes and CBS skeletons rising everywhere. Is that what you call abandoning Florida?

By Realtor

December 5, 2006 08:22 PM | Link to this

student:

So you went to day trading because the public isn’t hip yet? You better sign up for more classes and learn ancient history you know the 1990’s. I sure have learned my lessons that nasty supply and demand curve keeps getting me everytime! By the way anybody know of anybody that might want to buy a house here in Palm Beach County? I have access to an inventory of 27000 plus homes. I need to pay off my Hummer.

By student

December 5, 2006 09:07 PM | Link to this

Realtor: YOU are that nasty supply and demand curve - you and millions of other lemmings. You are all desperate to sell at the same time. Then you are all desperate to buy at the same time. Then you’re all desperate to sell at the same time again.

You spend your life chasing after yesterday’s profits, hence you never catch any. If you just stuck to the basic things in life — like buying a house in a beautiful place and holding it — you would not only be ahead financially, your life would be simpler — which is priceless.

I day-trade so I can sleep at night without wondering if a particular stock will be up or down in the morning. I do hold stocks long-term, but only through funds managed by people with more education, experience and financial smarts than me.

Fidelity’s International Real Estate fund is up 60% or more this year. I can count on 2 hands the number of times I have been out of Florida. Am I supposed to manage a fund like that? Even Fidelity’s domestic real estate fund is up 40% this year. Still, I probably never in a million years would have figured out Starland Resorts (HOT) as a number 1 holding - not with what I know so far.

So I watch, I ask questions, I try to learn. I have opinions, but I don’t make an idiot of myself trying to predict the future, or time “supply and demand.” Only God and my cat know the future, and neither one is talking.

By REvsMkt

December 6, 2006 09:02 AM | Link to this

Older blog has link to Jim Cramer 60 mins piece. : “I think the answer is, is that overall, high quality stocks have out-performed all other asset classes, whether it be gold, whether it be real estate, whether it be bonds,” explains Cramer. “So therefore, you’ve got to try to find the high quality ones. Because the averages are in your favor.”

In LONG run, well managed mkt portfolio outperforms RE as investment . Especially with closing costs, fees, commissions, HUGE Insurance costs and Taxes and other expenses year after year after year in SoFl.

Buy best possible home to live in as long as possible, enjoy it, ignore ups and downs. Would agree with earlier poster though, if not already an owner, no need to rush to buy yet in SoFl. Inventory and stressed sellers are not going to evaporate overnight. Younger potential buyers in disciplined savings can save enough for higer downpayment which will men huge savings over life of mtg. and more bargaining clout when ready to buy.

By To Realtor

December 6, 2006 09:41 AM | Link to this

I notice my remarks from yesterday got removed. Someone (Jeff O.) was sensative. Freedom of telling the truth, does not exist at the Palm Beach Post it seems.

I don’t hate Realtors, and i do not know the price of cocaine either. I am not into that. But it seems one Realtor knows the street value these days.

Lets face the facts, that most Realtors out there make way to much on commissions. We are at 7% now with Realtors. Most Realtors do not advertise their listings. Realtors want the Sellers to drop the home price after three weeks on the market. But don’t dare ask a Realtor to have them reduce their commission.

There are many Realtors out there i would promote. I know them as very honest, offer good services and hustle to make a sale.

It only takes an Attorney and a Title Company to take care of all the business of selling a house. Many sellers i have seen, have switched to FSBO’s in the past months after having Realtors. As i always have said before, if both sides went to FSBO’s, everyone can save money.

easyasabc

By good news for Rich R.

December 9, 2006 05:35 PM | Link to this

The world’s largest retail chain is teaming up with Ernest & Julio Gallo Winery to produce the wines at an affordable price, in the $1-$3 range.Wine connoisseurs may not be inclined to throw a bottle of Wal-Mart brand into their shopping carts, but “there is a market for inexpensive wine,” said Kathy Micken, professor of marketing at University of North Carolina She said: “But the right name is important.” Customer surveys were conducted to determine the most attractive name for the Wal-Mart wine brand. The top surveyed names in order of popularity were: 10. Chateau Traileur Parc 9. White Trashfindel 8. Big Red Gulp 7. World Championship Riesling 6. NASCARbernet 5. Chef Boyardeaux 4. Peanut Noir 3. I Can’t Believe It’s Not Vinegar! 2. Grape Expectations 1. Nasti Spumante The beauty of Wal-Mart wine is that it can be served with either white meat (Possum) or red meat (Squirrel. Enjoy Rich R.

By cw1900

December 13, 2006 09:11 AM | Link to this

Trailer park windfall: $510 million for Briny….

“Directors unanimously approved and signed a contract Tuesday for the sale of Briny Breezes to Boca Raton-based Ocean Land Investments for $510 million.”

“All right. We’re doing a deal,” Lori McCall of Philadelphia shouted as she left the meeting. She bought a unit two years ago for $66,000.”

Ouch. The silence here is deafening. The jaws hitting the keyboards… The jealousy by all of us here bantering away, while Lois here, much smarter than all of us, quietly went about her business, and with a little common sense, made her more weathly in one transaction that many here pecking away at this blog will make in the next 15 years….ouch

…location, location , location

cw