By cmgr

January 17, 2007 02:34 PM | Link to this

The market bottomed out back in Sept. Get over it already. Let’s move on to relevant subjects such as preventing Nikolitis from derailing homestead portability with his $400K rider, and holding Crist fully accountable to his campaign promises to provide REAL property tax and insurance reform THIS YEAR!

Six months from now no one will even remember what “downturn” even meant with the median slowly climbing inexorably from $400K to it’s inevitable manifest destiny of $500K.

But insurance and taxes will still be staring us in the face unless we stay focused.

Please.

By mrtgman

January 17, 2007 02:49 PM | Link to this

Optimistic perhaps because the are canceling options on land contracts: Revenue declined 15 percent to $4.3 billion. Lennar incurred costs of $494 million in the period for land writedowns and canceled options, near its projection on Jan. 2 of as much as $500 million pretax.

Which means they are going to be building significantly less new homes while trimming expenses. Not really a good sell for stating the bottom is here. While I hope it is as I make my living in the housing market I just do not see the increase in new buyers that we all expected after the new year.

By Realist

January 17, 2007 02:55 PM | Link to this

Builders say watch what we do, not what we say.

By Rich R

January 17, 2007 03:12 PM | Link to this

if the bottom was in September, where are all the buyers?

Why are values stagnant?

The bottom in not even close.

It will take tax and insurance reform before buyers begin to enter the market again. Then there’s that huge inventory of unsold home.

I think the flippers still have a period of foreclosures to go thorough before we see any upswing.

And then there are the folks that owe more then the property is worth, thanks to the wonderful HELOC and SoFla’s desire to use their home as an ATM.

FAR FROM THE BOTTOM

By A.P.

January 17, 2007 07:05 PM | Link to this

Rich R., You say “Why are values stagnant”. Is it such a bad thing? Not Really!

The question is are prices falling? The answer is NO! Yes, it dropped 12% from the peak of November 2005, but there is ALWAYS a DECLINE from any PEAK! Is anybody surprised? Not really!

Are home prices holding up? YES!

Was there an INCREASE in median price last month? YES! It will have its fluctuations.

Is the sky falling? NO!

Are we tired of eating PIES? YES!

Are we heading back to a normal market? YES!

Remember, if prices fall in S.Florida it has a ripple effect. North Carolina will be affected as well. It’s a domino effect. If S.Florida home prices crash then NOBODY NORMAL would desire to live in N.C.!

The insurance crisis will be fixed shortly. Politicians realize if rate cuts aren’t significant HEADS WILL BE ROLLING!

Property taxes is next on the agenda. Then, THE SKY IS THE LIMIT for real estate values in S.Florida AGAIN!

These are biggest obstacles to S.Florida real estate. PRICE ISN’T!

I also agree that where AT OR VERY NEAR the BOTTOM!

For all you DOOMSAYERS such as Mike Fink, You don’t realize the GOLDEN OPPORTUNITY to buy until IT’S GONE!

By George

January 17, 2007 08:14 PM | Link to this

Easy, don’t you see? This world here, this is Mike Fink’s sanctuary. If Rich R comes into contact with this world, his world’s collide. You know what happens then?

Ka shha shha shha Pkooo (exploding sound)

Well that was a really stupid thing! You know what’s going to happen now?

World’s collide.

Whe … Well yeah!

Because this world is your sanctuary and if that world comes into contact with —

This is not good. World’s are colliding! Mike is getting upset!

They’re — They’re killing independent Mike Fink! And they’re, they’re all in on it! World’s are colliding!

By Steve

January 17, 2007 09:04 PM | Link to this

Greedy fools, didn’t the tech bubble teach you anything? Left holding the bag again :(

By Mike Fink

January 17, 2007 10:56 PM | Link to this

Steve,

Very funny you should mention that. Had I posted here 7 years ago, I would have been firmly in the “it will rise forever camp”, as I had not yet watched a bubble burt (unfortunately, I was watching that one from the inside, not a good place to be).

The tech bubble had a direct, and dramatic impact on everyone in my field. And the arguments were the same “New era thinking/P to E does not matter anymore (kind of like price/rent, or price/median income does not matter anymore). And I was directly involved in that one, as it’s the field that I work in.

Anyway, we are seeing the tech bubble all over, just in a different asset class. Unfortunately, imho, this one is going to be far more damaging to far more people then the .com explosion.

So, no, I would say the tech bubble taught many people nothing. Sad, but true.

By voodoo child (slight return)

January 17, 2007 10:59 PM | Link to this

We have to talk.

The four worst words in the English language.

Either that, or, “Whose bra is this?”

This blog is now boring.

By crying mary

January 17, 2007 11:12 PM | Link to this

Voodoo Child,

Please don’t leave. I can’t go to a bad blog by myself. Who am I gonna make sarcastic remarks to, complete strangers? Easy? Cw? Fink? Realist?

Cmon, that’s no fun.

By maxmoose03

January 18, 2007 01:24 AM | Link to this

So FINK: Where is the 50%-70% price decline you promised?

Tracking MLS, I find that inventory has shot up in the past two weeks. That’s the good news for the crash fans.

The bad news is, the prices are out of this world. If you think they were nuts last year, you ain’t seen nothin’ yet.

New sellers seem to be laying down a gauntlet: “I don’t need to sell. Pay my price or f—- off.”

Thus with buyers and sellers at an impasse, the Haves remain Haves and the Have-Nots remain Have-Nots.

The next chance for Fink and other procrastinators is the normal summer doldrums. Of course, there’s no telling where prices will be “leveling off” from by then.

You blew it, Fink. YOU are the one who got greedy. You weren’t satisfied with a neat little price break. Now you can wait until you’re living in Cemetery Village to buy.

By maxmoose03

January 18, 2007 01:35 AM | Link to this

Forgot to mention a delightful trend I noticed on the new listings. They are typed in with a price 50 to 100K higher than the asking price, which is corrected the first day. Thus, the “Original List Price” field has a higher price than the asking price. This lets the realtor advertise every listing as REDUCED!!! for the benefit of the morons who paste these ads into this column, and give them free advertising.

By Mike FInk

January 18, 2007 08:14 AM | Link to this

Ugh Max.

There are years of inventory on the market. Don’t want to pay my price so f**k off? Ugh, ok, I will walk across the street and make the same offer there. People have suggested, when making low ball offers, that you go in with a list of homes, make an offer, one at a time, and make the reciepient aware that you will be making offer on the following 10 comps today if they do not accept. Sellers who want to sell right now have almost no power. If I wanted to buy the house I rent, I could, without walking more then 500 yards, make 10 offers on comparable homes. That does not place the seller in a very strong position.

Sellers have almost no leverage left. If you won’t sell at my price… Well, I will just rent the home next to yours for 1/2-1/4 the carrying costs on yours. The robust rental market, especially in large SF homes/McMansions is removing any ugency to buy anything.

Remember, if your trying to sell, it’s you paying the morgage/utils/taxes/insurance during that period. Not the buyer. So you don’t need to sell? Good for you, but guess what, many of your neighbors do NEED to sell, and they are going to drop those comps just as effectively. So, go ahead, tell lowballs to F—- off. Will the other 10 people selling nearly identical units on your street say the same thing? It’s like the prisioner game with more players. If you defect, and I don’t, you sell your home and I get screwed. If we cooperate, we both get screwed, but less so. If we both defect (lower prices) then we both get royally screwed as we will be in competition with one another on the same home, and likely have to drop our prices further (both of us) to actually sell.

On your second post, yes, I know, RE agents are crooked, and people are dumb enough to believe the headlines. Sad, but true.

Finally, it’s not that I am not “sastified” with the declines so far, I just think we have far more declining to do. Most people would say we have probably dropped (same home) 10-15% from a year earlier. Not bad, but we still have a mountain of inventory (which, I expect, we will see stagnate around the 4-5 years of inventory for qute awhile) and homes are still unaffordable to people who live here. Also, we have a taxing nightmare, along with a insurance mess. I see nothing but downward indicators.

By Peggy in Singer Island

January 18, 2007 09:53 AM | Link to this

I’m not surprised by the article, Florida exodus? Statistics show residents starting to leave for less costly locales in according to United Van Lines. I not only saw the same thing happen in my home state of California, I’ve also been aware that housing prices have risen in the West Palm Beach area beyond what is affordable for many Floridians with Florida salaries. Many companies do not align salaries with the cost of living. “People want to live here,” they say, “and they’ll do anything to do it.” In other words, they don’t have to pay them more. Well, eventually people won’t be willing to pay the “sunshine” tax and will head for less-expensive areas with higher salaries. And, according to the article, they’re already doing it.

Not surprising then, the people discussing their inter-state relocation plans in other real estate blogs say that many in Florida are fed up with the rising costs of insurance, and the inability to move up or move to a different locale in Florida due to escalating real estate prices. Many are originally from the northeast and are referred to as “half backs” because they plan to move to North Carolina, which is about halfway back home. Coincidentally, many Californians have already moved to or are planning to move to locales as North Carolina, Texas, Arkansas, Tennessee, chasing that elusive dream of owning a nice, affordable home. They are moving to Georgia also, but I feel the overcrowding in Georgia has long started and people will be thrown right back into the fire soon after they settle in.

While many in Palm Beach, Boca Raton, and Jupiter can afford the mansions, sales for the more reasonably-priced condos, town homes, and single-family homes have slowed. As far as rentals go, there is a nice selection of lovely rental homes available out there because investors haven’t been able to sell or rent them as quickly as hoped.

But it’s not just the West Palm Beach area where real estate prices have skyrocketed. It’s extended across the country with only pockets of areas where more affordable housing exists. True, in some areas the prices are falling, but for many trying to get into the real estate market for the first time, the first time in Florida, or for those desiring to trade up, it can’t happen fast enough or fall far enough. For homeowners trying to sell for the best price possible, it’s also frustrating. Home sales have slowed, and many have had to take less than what they had hoped for when the market was at the height of the boom—especially if they are anxious to sell because they want to leave the state.

But real estate prices aside, one thing to keep in mind if you do decide to leave, is to make sure that’s what you really want to do. It’s always harder to get back into a popular, growing area where the market keeps rising. Because no matter what, Florida will always draw people. After all, it’s the Sunshine State—the home of Mickey Mouse, beautiful beaches, and the ultimate year-round vacation. The question each of us must ask is, “Are we willing to pay the price of living in paradise?” If not, then perhaps paradise is defined differently for us.

Peggy in Singer Island

By Top Ten Reasons...

January 18, 2007 10:19 AM | Link to this

Top Ten Reasons why South Florida is a great place to be……

1. • This web site, what entertainment we have here. And at the end, we can get up and walk away without giving a tip.
2. • The Sunrise…We have great sunrises here. Second only to a Hawaiian sunrise.
3. • The Neighborhoods. We have rich areas, middle class areas, poor areas, white neighborhoods, black neighborhoods, south american hillbillie neighborhoods, snobbish areas, ghetto areas, crack neighborhoods, old historic neighborhoods, mansions on the islands, waterview homes, golfview homes, neighborhoods next to garbage dumps, neighborhoods that have hookers selling and bums pissing.
4. • The Boating Season….Any weekend, I can cast the line over the bow, and put oil on the buns of the woman at the helm.
5. • The Florida Keys….Jimmy Buffett 24/7.
6. • The Women…we have HOT looking women here. No matter if they have their clothes on or off.
7. • Money….So much of it is here. So much money is being invested here.
8. • Tourists….I enjoy hearing them say how they have to go back up north. BTW, it will snow this weekend in NYC. We will have sunny skies and be in the mid 70’s.
9. • South Vegas…We are just in the beginning stage of having a “Las Vegas” style gambeling/entertainment venue here along Broward beach areas.
10. • Super Bowl Weekend…..besides having the two best NFL teams here, we will have the best hookers from across the country visiting here and offering their services. I believe people like Mike Fnk, Steve, Rich R. and even RCA should check these ladies out in the Miami/Ft. Lauderdale area. They can have a drink with them(in the case of RCA, a cup of chocolate pudding) and take time off away from their computer. There is more things in life than staying up late and talking about insurance rates, median price, foreclosures, rent ratio, large black guys on bikes in the El Cid area, pie sharing, etc…..with each other. In other words, you guys need a life.

I hope everyone have a great weekend, I have to get my little yacht ready for a “Super Bowl” parties in the coming weeks.

There is not one limo service from Miami to Martin county that does not have an opening in the coming weeks.

Is it me or did the rest of this country got hit with really bad weather this past year. We had no hurricanes, but everyone else got hit by floods, ice storms, blizzards, tornados, fires, heavy rain, etc. Seems no place across the nation is immune to bad weather.

Life is good in Palm Beach.

easyasabc

By Trying to be Objective

January 18, 2007 10:32 AM | Link to this

Peggy,

Nice balanced view from someone who’s been there. Florida isn’t for everyone, but most of us here love it, believe in it, and know that we live in a very special place, problems and all (nowhere is perfect). Many of the negative bloggers seem intent on trying to make a case about why to hate Florida. It isn’t for everyone, and those who do not like it here really should move elsewhere, not sit and complain about it. The current RE downturn is nationwide, it is not a local condition only.

Bloggers,

All I read in these posts are extreme views from both sides of the aisle, most of which are restatements of sensationalized headlines in the media. As with all things in life, nothing is ever as good or bad as the headlines lead us to believe. I also believe that there are some who missed out on financial opportunities and now want everyone to suffer for their mistakes, so there is much wishful thinking going on.

For example, we’ve had a housing slowdown, but there is no burst, just a return to reality. For example, my mom paid $128K for a villa in western Boynton in late 2002. She just sold for $265K last month. Yes, last year she probably would have gotten $310 or $320K at the height of the boom, but she wasn’t ready to go at that time. So instead of being greedy, she priced it reasonably, and it sold. For an approximately $25K down payment in 2002, she got back $150K cash net proceeds in 2007. Not bad for a little over 4 years. There are still buyers out there, inventory is shrinking surprisingly quickly(all across the country) because developers are scaling back, people who do not have to sell are taking homes off the market, and the in-migration still outpaces the out-migration by twice as much. In general things are returning to normal. The only one’s really hurt are those who bought in 2005 at the peak, and if they hold on for a couple of years, they will be fine also.

So why don’t we all try to make this a useful discussion board, instead of a place to lob immature insults at each other,

By Don

January 18, 2007 10:41 AM | Link to this

Peggy,

As they say up in Okeechobee, “You might not be the best lookin’ girl here, but beauty’s only a light switch away.”

Good post.

Yours Truly,

Don in Boynton

PS Ever get down to the Banana Boat? I’ve got a sailboat and a blender.

By Best NC pick up line

January 18, 2007 11:25 AM | Link to this

” I know we’re cousins, but this is Raleigh.”

By Signed

January 18, 2007 11:36 AM | Link to this

” Wanna see the new Velvet Elvis painting I just hung in my trailer?” or ” You’re prettier than a beer truck pulling up in my driveway” or “Can I borrow your phone number, I seem to have lost mine” or “I know milk does a body good, but darn girl, how much have you been drinking?” or “Yo Baby, you be my Dairy Queen, I’ll be your Burger King, you treat me right, and I’ll do it your way”

Signed,

Don and what he should have said to Peggy from old pre-marriage crib notes he just pulled out from his wallet and 35 years ago he should have said to his ex-wife who took him to the cleaners in 1980, “Okay, so I came over here to ask you to dance, but I’m kind of concerned. I mean, we could hit it off really well, end up having a few drinks, next thing you know you’re giving me your number because I’m too shy to ask for it, I finally get up the nerve to call and we take in a movie, have some dinner, I relax, you relax, we go out a few more times, get to know each other’s friends, spend a lot of time together, then finally have get past this seual tension and really develop this intense physical relationship that is truly incredible, decide our relationship is solid and stable, so we move in together for a while, then a few months later get married, I get a promotion, you get a promotion, we buy a bigger house. You really want kids, but I really want freedom, but we have a kid anyway, only to find that I am resentful, the sparks start to fade and to rekindle them we have two more lovely kids, but now I work too much to keep up with the bills, have no time for you, you’re stressed and stop taking really good care of yourself, so to get past our slow se life and my declining self-confidence I turn to an outside affair for physical gratification. You find out because I’m careless and a lousy liar, you throw me out (justifiably so) and we have to explain to the kids why mommy and daddy are splitting up. That’s just too sad. Think about the children! For God’s sake, if you dance with me and we hit it off, let’s just keep it se*ual, because we both know where it’s going.”

By MovingOut

January 18, 2007 12:52 PM | Link to this

I wish I could buy a home in Palm Beach County. :( But with the housing prices, insurance prices and taxes I can’t. Bye…

By Prices

January 18, 2007 01:03 PM | Link to this

“Forgot to mention a delightful trend I noticed on the new listings. They are typed in with a price 50 to 100K higher than the asking price, which is corrected the first day. Thus, the “Original List Price” field has a higher price than the asking price. This lets the realtor advertise every listing as REDUCED!!! for the benefit of the morons who paste these ads into this column, and give them free advertising.”

re above quote-

Another delightful trend is saving original listings on Hard Drive or printout. This allows tracking from original date on mkt. And price changes (if any) over time on mkt. Also, when listing expires, if property re-listed with new MLS #, you still have original MLS # and prices for reference.

Sites like zip.realty also have some useful tracking features , like days on mkt, and dates of price reductions or increases. (Yes, a few listings I follow have tried raising price, to get action. Not one has sold, months later). Save copies, or record listing #s and price track of properties you might be interested in as MANY have lapsed and come back on market as new listing, trying to cover tracks of original price and long time on mkt without selling. This new rash of listings has to be disheartening for sellers on mkt many months. The inventory is truly getting out of control. If no Tax or Insurance relief soon some owners are facing real problems.

By inexperience

January 18, 2007 01:07 PM | Link to this

how of these guys do you think are in Palm Beach County?

====

Why I am Facing Foreclosure

What happened? Why am I facing foreclosure? Basically, I bit off more than I could chew.

Here is the story.

I started investing in October 2005 and went full-time in January of this year (2006). This is after going to numerous real estate investing seminars, reading books and learning from other investors for the past 2 years. I did my first successful deal in October while still at my full time job. In January I quit my website programming job and went all out!

From October 2005 to May 2006 I bought 8 houses in 4 different states, mostly with the help of 100% stated income loans (liar loans). Most are fixers - I was going to rehab and flip each one within a month or so. Buying was easy, but man was I in for a surprise (or a lesson?).

Eager to Buy with No Experience and No Solid Plan.

Instead of having a plan for getting in, and getting out, I thought I would just “wing it”. You see, I become a “motivated” buyer. I needed to buy and sell some houses quickly because I quit my job and needed to make a living in this business - NOW! They warned us in the seminars NOT to do this.

They told us to keep a full-time job. Work as a “bird dog” for other investors at first. Then start slow. Build your team. Have extra cash saved up. Buy low. Avoid heavy fixers. Do one at a time. Stay local. No traveling. No speculating!

I ignored most of the advice from my gurus…

True, I was not purely speculating. I did buy most of the houses at a discount. So that if the market went up or down, I would still be able to flip it and make a profit. But I did not buy at a big enough discount to cover my lack of experience. Buying low is only one part of the formula.

Since I didn’t have any money, I “juiced up” the equity on most of the houses by getting cash at close. The cash-back was to pay for the holding costs, travel, repairs, etc. So every time I bought one there was a “CHA-CHING” sound and my bank account got fatter. This gave me a false sense of profit and kept me going.

I grossly underestimated everything. I bought many houses sight unseen! And the ones I did see I was still too optimistic. I miscalculated the money+time it would take to find contractors, manage contractors, do repairs, and resell quickly. Add the cost of doing out-of-state deals. I was not prepared for the huge travel expenses and the difficulty of managing all these deals remotely.

Everything went wrong. The rehabs were way behind schedule and grossly over budget. I was too busy flying around the country visiting each job. No time to manage details. I couldn’t sell the houses fast enough. I managed to sell only 2 out of 8, and got stuck with the rest.

The holding costs is what started killing me. Paying 15,000+ per month in mortgage payments and utilities can really drain ones’ reserves. All the cash I pulled out at close is now gone - for repairs, mortgage payments and travel expenses. And the houses are not selling fast enough to keep me afloat.

As the last resort I went for one more cash-at-close deal.

It’s a nice model home from a builder. The builder and I structured a pretty good deal. I would buy the house for full retail value. The builder would pay my closing costs and give me $50,000 cash back at close and lease the house for 12 months. Sweet! I told him I will close with no problems.

I went out to apply for financing figuring I will get a 100% loan just like before. However, this time my credit score took a dive because of all the maxed-out credit cards and credit lines. I kept calling different mortgage brokers, looking at different programs. Finally I found the right program. I was barely qualifying but everything was going smooth.

But then…

They Googled me!

The lender found one of my early blogs where I was talking about investing in fixer-uppers around the country. So they denied the loan! My mortgage broker was really amazed. He has never seen them get so picky and go to such length to investigate the borrower.

The problem is that I was running the loan as a “second home”. Lenders’ definition of a “second home” is for PERSONAL use. Reading my old blog, it was clear that I am buying the home as an investment to flip it. If I ran it as an investment home, I would NOT have been able to qualify for the loan. So I was basically lying to the bank about my owner-occupied status and other things.

Lying about the owner-occupied status and income was easy to do. Seems like every other investor was taking advantage of it. Since that was the only way I would qualify for 100% financing, I too was doing my deals via “liar loans”.

When I was caught, I felt very embarrassed and guilty for all the shady loans I’ve done. My wife never liked these loans. She hates “fishy” business. I knew she was right and I told her I’ll stop lying on these loans - “Just one last one!”.

At this time (July 2006) we had almost $20,000/mo in expenses. I desperately needed $50,000 cash-back on this last deal to buy some time. We already used up over $120,000 of credit card and credit lines and I was desperate. That’s why I still went for this last deal even though my wife and I both agreed that we need to do this business 100% above board.

So the irony is that I was cought through blogging. You’ve heard about people being fired by blogging about their work. Well, I may be the first borrower to be denied a loan for blogging about the deals.

Since it’s all out in the open, I might as well keep blogging, continue being honest, admit my faults, and try to make it right.

Back to the story…

The Last Straw

Since that last cash-back deal fell through I started falling behind on payments on all the mortgages. I ran out of money to finish repairs, pay utilities, credit lines, etc. I ran out of money to live!

Every penny went to float the deals. The credit cards are pretty much all maxed out. Nothing is left.

I got kind of depressed for a week or so. I didn’t want to think about it. The head-in-the-sand type of thing. But now I am beginning to face my problems.

Now What?

My wife is a full time student and I need to put food on the table. Both of our credit is on the line. It will be ruined if I don’t do something quick. I want to avoid foreclosure and bankruptcy and maybe get a little cash by selling my houses. I am not sure how realistic this is.

I may have to get back to a full-time job so I can pay basic bills. I AM grateful to at least have my web development skills to fall back on. I may do some wholesaling or help other investors to make a little money. I don’t know. I’m looking at all possibilities.

It’s embarrassing to talk about this. Yes it’s my fault and I deserve the consequences. It sure is a tough way to learn though. This will teach me to be more responsible and play smart next time.

=====

and the best response i read was:

HAHAHAHAHAHAHAH I LOVE YOU MAN!!!! You just admitted to federal mail fraud and a bunch of other federal crimes on the Internets!! Be sure to tell the judge that “it’s actually pretty common” PS can you design my website pricedoutofahomebecauseofretardedflippers.com?

==

It puts in in perspective. this 24yr old donald trump wannabe is in california.

By Jim Beam

January 18, 2007 01:11 PM | Link to this

See Ya, we will not miss you. As the old Florida podunkers move out and take their broken down trailers and clothes lines to NC, A new more Affluent group is moving inn. So head on up to the hillbilly land. As I said we will not miss you. Oh and don’t forget your pie tins you will need them. And before you bashers say we are losing our service people.

Take a look in some areas of California, look in Garden Grove or as I like to call it Garbage Grove you can buy a run down shat hole for around 450k, and that is where the service workers of Cal live. Or you can rent a dump for $1900. I guess we are lucky to be here in sunny FLA where you can still get a nice house for 500k.

By Mike Fink

January 18, 2007 01:20 PM | Link to this

And that, my friend, is exactly the reason the RE has gone through the roof in the past 5 years. Liar loans/no doc/negative am, coupled with a total removal of lending standards (stated income, are you kidding me?). It is actually harder to get a store credit card then to be approved for a few 100K to buy a home.

Oh, and the “demand” in many of these bubble areas was either totally imagined, or blown way out of proportion by idiots like the story above. Of the people I associate with that are my age, about 50% of them own 2+ homes (one to live in, one to get the money growing). All the people I know who are doing this are negative cashflow on their additonal homes.

Just play the lottery, it will cost you less in the long run.

By jim beam is a queer boy

January 18, 2007 01:21 PM | Link to this

mr jimmy is a little fancy pants prancing around in his garden grove with all the ripe tomatoes and clothespins on the clotheslines so he can tie himself up to attract his service people like the pool boy and the 350lb maid from honduras who speaks litle english but sure enjoys the 5 minutes she’s off her feet and can still get paid you know the extra money can sure buy alot of burritos for melvin and his dice rolling friends….

By to inexperience

January 18, 2007 02:18 PM | Link to this

It is people like you who have created the insane speculation and problems we face in the real estate world. This is what greed does to people. While I don’t wish bad things on people and I’m sorry for your troubles, you deserve every bit of hurt your experiencing now.

Your long diatribe about why you’re facing forclosure could have been summed up much more briefly.

You are a naive, crooked, greedy, and now broke person. Sad, very sad.

And don’t blame the crooked mortgage brokers who helped you. They didn’t put a gun to your head and make you do it.

Simple advice, if you can’t run with the big dogs, stay on the porch.

By AJD

January 18, 2007 03:59 PM | Link to this

Not a lot of love here guys.

This is my first time back on this blog in about 3 months. Still the same people, still the same irrational debate.

If your expecting prices to drop through the floor you are wrong. We have not seen the bottom either. The bottom will occur during the next 2 years, but the “Bottom” will only be a 5-10% additional drop from where it is at now.

South Florida is a great place to live and people will keep moving here.

Insurance and taxes will ease. Paychecks will cintinue to increase.

Most people who invested in RE over the past four years have already bought and sold many properties. The last place I bought I am getting burned on. Big deal. I have plenty of cash to cover the loss. Most investors are like this. A few bought too late and they will really be hurting. It will be tough for these people, hopefully they do not panic but instead invest for the long run.

At the same time I hope prices ease a bit to help the lower income own a home.

Rich R - your blogs make you out to be such an arrogant cold hearted bitter man. Your like the Grinch that sits on top of the cold mountains of NC and wishes hate upon Floridians.

By Lisa Rowe

January 18, 2007 04:34 PM | Link to this

I just wanted to make sure that the Post Business Section (Real Estate Column) doesn’t lead with Housing Starts are Up…figures put out today say starts (building permits) were up Nationally in December…but Bloomberg also reports that starts in the South were down. This is probably associated with the overglut of speculating investors buying 2nd homes with creative financing packages. And now the investors, most likely those with their toes in this market are in trouble (Foreclosure article). Too bad they owe more to the bank than the house is worth on the market (Look at what they woe the bank vs. comps). Sometimes your leads are misleading.

By Steve

January 18, 2007 05:46 PM | Link to this

Thus with buyers and sellers at an impasse, the Haves remain Haves and the Have-Nots remain Have-Nots.

The question is what do the haves have?

The answer, an overpriced asset that is rapidly depreciating. Boo Hoo Hoo :(

By inexperience

January 18, 2007 06:12 PM | Link to this

to: to inexperience,

i’m not the guy in trouble. i read that article on another blog and decided some of you would like to read about idiots like that. if you noticed, i said that above.

your comments are right. the dude is in huge trouble and deserves it all.

the good news is he has learned the school of arrogance and hard knocks all at once and at the ripe old age of 24. hope he burns some more and then learns much.

By Steve

January 18, 2007 06:18 PM | Link to this

WASHINGTON - Federal Reserve Chairman Ben Bernanke warned Congress Thursday that the economy could be gravely hurt if Social Security and Medicare aren’t revamped and urged lawmakers to tackle the nation’s thorny fiscal issues sooner rather than later.

“If early and meaningful action is not taken, the U.S. economy could be seriously weakened,” Bernanke said in testimony to the Senate Budget Committee.

It marked the Fed chief’s most forceful warning to date on the potential problems facing the United States with the looming retirement of 78 million baby boomers, the oldest of whom will start retiring next year.

This huge wave of retirees will hit the U.S. budget as well as the economy, he said.

“The longer we wait, the more severe, the more draconian, the more difficult the objectives are going to be. I think the right time to start was about 10 years ago,” he told lawmakers when questioned about the urgency of the situation.

Absent policy changes by Congress and the White House, rising budget deficits are likely in the years ahead to increase the amount of federal debt outstanding to unprecedented levels, Bernanke said.

That could propel interest rates for consumers and businesses upward, which would be a worrisome development, he said.

By cw1900

January 18, 2007 06:23 PM | Link to this

AJD, you have to admit, in between the gibberish, the bully brawls between the 7th graders, and the occassional cat fights, there are some very good posts that bring some valid points to the table. I have learned a few things here, and I hope I have brought something worthwile every now and then myself.

I have learned some valuable advice on both sides, much I already am very much aware of, and the occassional nut case on here does provide some good humor. I’m with easy, I love “Signed”. Dry sarcastic, humor adds something here and controls a few of the nuts.

Where else can you get a fairly articulate, however, milktoast, post by Peggy, and then in the next breath, some leatherly ole’ fart Don tries to pick up the old broad he has no idea is real or not. That’s just good old fashioned family entertainment!

Welcome back.

cw

By Steve

January 18, 2007 06:25 PM | Link to this

When the economy is in trouble and interest rates are up, housing prices will crumble.

By Ron Mexico

January 18, 2007 09:37 PM | Link to this

“Give yourselves up. You can’t win.”

• Douglas MacArthur.

By maxmoose03

January 19, 2007 12:29 AM | Link to this

CW, these financial Wizards like “Price” are scaring me. If things get much worse, I might have to get a job.

Price has to be stupider than Steve, if such a thing is possible. This guy spends his time tracking asking prices, thinking he is TRAPPING those evil sellers and realtors.

Personally, if I have a property listed in 5 different media, it probably has 5 widely different asking prices — all at the same time. You play to your audience.

This “Price” imbecile does not have the capacity to understand that asking prices are meaningless — a figment of the imagination, a (seller’s) wish made on a dandelion, a sugar plum fairy dancing in “Price’s” otherwise empty head.

On the other end, there is Finky-Dink, who brags of all the offers he will make. The truth is that Fink would sh— in his pants if he had to put even one offer in writing. Time after time on this blog I have proven Fink a liar. My favorite was pointing out his claim that his supposed 2,000 a month rent was “less than 10 per cent of my income.”

Fink must be the only person in America getting paid a quarter of a million a year for manning the Windows Help Desk (his “IT” job).

Folks, enjoy the entertainment, but pay attention to lunatics like these at your own financial peril.

By Fink U

January 19, 2007 01:21 AM | Link to this

I can top that one! Fink proudly proclaimed that it will take 5 YEARS for the median SFH pricing to acheive a $500,000 level. This despite rapidly rising costs of labor, concrete, lumber and steel. What a fool! Fink is aptly named for that means a stooge.

By Moses Horowitz (Moe Howard)

January 19, 2007 06:25 AM | Link to this

HEY…WAIT A MINUTE. I REPRESENT THAT LAST REMARK. THAT’S AN INSULT TO STOOGES EVERYWHERE.

By Mike Fink

January 19, 2007 07:39 AM | Link to this

How long do you think it will take for the median to hit 500K? I don’t remember saying 5 years, but let’s just go with that. I would like to hear a prediction from the bull crowd, just so I have something to compare my own to.

Want an even more outlandish prediction. In today’s dollars, it would not suprise me if it took 20 years to get to 500K (again, adjusted for inflation). Housing typically appreciates just slightly over the rate of inflation, and we are coming off a heck of a crest from the past few years of run up. If we have a negative few years (or flat), and then go back to mirroring (or nearly mirrroring) inflation; it would not shock me if it took 20 years to hit 500K (again, inflation adjusted).

That ought to get the bulls stired up this morning! :)

Oh, and BTW, I think you will find that all the costs to build a home are dropping, and are going to continue to drop, as the demand for these services goes down. People are being laid off from major builders; and need to work. I have heard many anctedotal reports of people getting great deals on home improvements today, because there is so little demand for the services of contractors/construction employees.

By crazydem

January 19, 2007 08:54 AM | Link to this

Fink/Steve/RCA-Explain to us what it is like being so involved in the day to day fluctuations of a particular asset you don’t even own.

By cw1900

January 19, 2007 09:23 AM | Link to this

Good morning,

more notes from CW:

• I re-read my post from last night. Sorry to be hard on Peggy, not the intention.

• Mike, I think you’re numbers are wrong on how long it would hypothetically take to have median home price here in PBC at 500k. Running the numbers, at current let’s say 380k, then, at 4% per year appreciation, it would take 7 years, at 6% it would take 5 years, and 8%, it would take 3 1/2 years. Assuming just a little over inflation, it is not going to take that long, and is reasonable.

• a few things in the paper this morning. First, read the article “Midwestern (PBC) county can expect traffic to worsen”. People are coming, growth is continuing no matter what any of us think here. It is inevitable and cannot be stopped. PBC knows it.

• another article in the PB Post this morning says “One in every 51 households in Palm Beach County - almost 11,000 properties - entered some stage of foreclosure last year, nearly double the national rate.” All I can say about that is what I’ve been saying. Foreclosures are happening to people who have been irresponsible for the most part. Thay are mostly the people who overextended, bought something they couldn’t afford, etc. You know my take on credit and it all relates. I said in a previous blog a few days ago, “One of the reasons my household is not in panic mode like most of the country all the time is simple. We live on a monthly budget written down on a physical sheet of paper each and every month, and we live off less than we make. I keep my monthly budgets in a file cabinet in my home office. This is not rocket science, people. It is, again, common sense. We do not borrow money to drive cars (no car loans since 1994), and our real estate is not highly leveraged. Vacant land is bought with cash, or it is not bought. Mortgaging vacant land is called feeding an alligator and I won’t do it. The only mortgages we have are on the home we live in and the income producing houses, and they are not highly leveraged at all. We have never and never will have, any helocs, or second mortgages. When you aren’t leveraged to the hilt, you can sleep at night, and when you aren’t making all those payments, and live on less than you make each and every month, it is very easy to buy a vacant lot for cash. This is not a foreign concept, but I guarantee it is to some who are reading this and calling me names under their breath.”

That about sums it up.

The foreclosures are happening to the irresponsible and the fools who think they need to keep up with the Jones’. Foreclosures happen to some, of course, because of no fault of their own, such as medical problems, but 9 out 10 imho are people who simply refuse to live on less than they make. I have no sympathy and the faster they and their families fall to the gutter, the faster they can realized what a-holes they are and can try to figure out how to do it right for the rest of their life and, more importantly, to teach their kids not to do what stupid mommy and daddy have done.

• As all of us RE “moguls” sit here and argue back and forth about who knows more about real estate, did you happen to read in the PB Post this morning about the Clewiston Inn being sold? Read it and feel a little humbled. I did. Did you see who is buying it and redoing it?

Two guys who have already been building out there are buying it, ok so what, you say? These two guys are the ripe old ages of 25 and 33 and have been buying and dealing with more RE than most of us will. I’m 41 about to turn 42 and I know when I was 25, I was no more ready to buy a hotel than I was to fly to the moon. I consider myself doing fairly well for myself and my family, but I’m impressed and humbled, and look at us. We suck. Good for them. I hope it works out.

That’s it for today. I’ve got to get to work and try to gather steam. People half my age at this very moment are already into the workday and here I am typing to you slobs.

Have a great day to all.

cw

By TANC

January 19, 2007 09:25 AM | Link to this

I have to say that Fink is right about homebuilding costs (some not all) that have been dropping (copper prices for instance). I know builders who have personally told me this and they are actually a little bit relieved in that it gives them more “wiggle room” on the price of newer homes they build. Unfortunately, this will tend to keep the lid on prices somewhat.

It’s still a simple matter of supply and demand, and unfortunately right now, it’s a battle between the buyers and sellers to see who will give in. That’s why sales are down so sharply yet prices have not come down as much as you think they would come down.

Some impetus will eventually drive the market one way or the other. If interest rates rise significantly and/or we get significant increases in unemployment we will likely see prices stagnate and come down even more quickly.

If rates stay low, employment strong, and the sun keeps shining in SFL (the most likely scenario IMO), then there is no reason demand will go away and prices will stay firm.

BUT, the days of 35 to 40% YOY price increases are long, long gone. The best we can hope for going forward is flat to increases at the rate around inflation.

With the level of prices where they are now, the only thing that can sustain steady increases in the future is demand from those who have big bucks cuz those with household incomes below about $75,000 a year will never afford a home in South Florida, especially if the tax and insurance problem isn’t fixed.

IMO there will always be a level of demand to live here that will keep prices from dropping as much as the doom and gloomers say it will, but I think we’re in for a long time of very little growth in prices as the Supply and Demand Curve tries to find that market clearing price.

By Prices

January 19, 2007 10:24 AM | Link to this

“The bad news is, the prices are out of this world. If you think they were nuts last year, you ain’t seen nothin’ yet.”

“New sellers seem to be laying down a gauntlet: “I don’t need to sell. Pay my price or f—- off.””

“This “Price” imbecile does not have the capacity to understand that asking prices are meaningless — a figment of the imagination, a (seller’s) wish made on a dandelion, a sugar plum fairy dancing in “Price’s” otherwise empty head” re above:- seems a nerve hit.

Example of useful (to idiots like me)info easily tracked on web and saved for ref.:

1860 Primrose Lane Wellington 33414 Current MLS ID R2712261.Re/Max Direct. 5Bed 3Bath Pool etc.

Current “meaningless” price - 419K.on mkt this time 150 days first price on this list - 439K . 12/8/06 439k to 424K. 12/9/06 424K to 419K.

In Aug. 06 Open House and nice website with many pictures, 465K. Then 449K.

Last sale per PAPA Aug 1996- 175K.

Before rushing to buy, do search of for sales by zip code 33414.

This home was on these blogs back in Aug.’06 and again in Oct. as example of non-movement of inventory. The free publicity did’nt help.

Thought by now some cheeerleaders might buy it to stop it being used as poster boy of current market conditions. Will be interesting to watch. Condo situation on Ocean also amazing will provide data if you like.

By A.P.

January 19, 2007 10:41 AM | Link to this

There goes Mike Fink with his NOSTRADAMUS predictions.

The END of the world is HERE according to the world according to FINK!

I wonder if the Post is hiring any I.T. postions? You fit right in!

While I do agree one can find a desperate seller HERE and THERE, Why aren’t you looking for them instead of posting on this blog?

It seems that the type of home you’re looking for is a COOKIE CUTTER type. A DIME a DOZEN!

Have you made any of those rediculous offers you claim you can make and move on to the next seller? NO!

You wouldn’t recognize a good deal even if it was on a silver platter!

You’re really BAD with numbers if you think it will take 20 years to reach the 500K median price.

Where did you get your degree from? Did come with a FREE toaster?

Isn’t this the same Mike Fink who was hoping for a CATASTROPHIC HURRICANE to HIT S.Florida to expedite the correction of prices!

If you look in the MIRROR you shall FIND he who is most GREEDY!

By reGreed

January 19, 2007 11:43 AM | Link to this

Greed is in the eyes of the beholder. Sellers accuse lowballers, Buyers accuse sellers. From post above the house in Wellington started at selling price over 465K. It was bought in 1996 for 175K. Is seller greedy ?

Offers so far have not met his prices even though now 419K.

Are buyers greedy for not giving price asked ?

It’s a marketplace. Greed does not last long in marketplace.

By imanc

January 19, 2007 01:12 PM | Link to this

my point is this toiday, if we don’t develop quickly and “GREEN” most all the homes in the village will be aging (equal to the age of the majority of thier owners) WHERE PATCH & PAINT EVENTUALLY(SOON) BECOMES AN ACT OF FUTILLITY. Over 40-50 years these assimbly line built v track home just wear out.~~>PERIOD!<<~~ ex. the original insulation in theses homes have long since “gave-it-up”… how many of these homes do you think have had all the sheetrock removed and reinsulated in the past 5yrs? (five years being the “limited life time warrent for owens batt fiberglass insulation..written right on the labels in fine print.(?) how many original copper homes have geo-therm system? as far as the issue of >>>control committiee<<< ONE’S CERCOMSTANCES COMES INTO PLAY,,, 50% of the villagers are dirt-poor on medicad and can’t afford to “tidy-up/fix-up their homes and because it is so cheap to live here they can’t afford to go anywhere else>>THEY ARE JUST STUCK HERE<<.and someone wants to tear down their home because they are poor??..i thought this was america??…if a home in a neighborhood needs repair and the neighbors knows of it’s dis-re-pair..well what happened to “OLD FASHIONED WEEKEND BLOCK PARTIES?…WE NEED AT LEAST 4 FREE TRASH-DAYS @ CITY HALL PER YEAR. WE NEED A VILLAGE SERVICES THAT OUR sid taxes funds that will “COME & HELP” THE POOR KEEP UP THE APPEARANCES OF THE JONES. THE JONES COULD PLAY LESS GOLF AND SPEND A DAY “PITCHING IN” TO HELP A NEIGHBOR TO “TIDY-UP”…SD COULD SEND A HELP-A-NEIGHBOR CLEAN -UP TRUCK AND TWO MAN CREW TO HELP IN THE TIDY-UP WEEKEND BLOCK PARTIES. FINING,JAILING AND DOZER AGAINST THE DIRT-POOR ISNT THE ANWSER! FREE OR SLIDING SCALE “HELP KEEP V BEAUTIFUL CREWS ” IS AN/THE ANSWER. i despartly need help @ my place..can i afford it out of my $580.oo total income ssi check….hiiiiiillll-no.! i can’t! medicine or food or heat i get two out of three of these per mo. depending on the month of the year. would i want my house as tidy as the jones YOU BET!! IF SOME ONE COULD COME FOR FREE ..WELL LETS SAY DO I HAVE A LONG CHORE LIST FOR THEM…CONER TO CONER OF MY PLACE,,JUST PICK A SPOT AND GO TO IT..OR FIX-IT OR CLEAN IT-UP…. & I’LL COOK. I DON’T SEE ANY OF THE CHURCHS HERE HAVING “HELP THY NEIGHBOR GROUPS” THAT GOES FORTH AND SEE IF THERE IS ANYTHING “THEY CAN DO” FOR THIER NEIGHBORS!! THE LACK OF TIDY-NESS SHOULD BE REPORTED FIRST TO A LEAGUE OF THE V CHUCHES THEN & TO THE “OFFICIALS” FOR “HELP SERVICES”>>only<<< I’M POOR NOT STUPID & ON SSI.DISABILITY WHICH MAKES ONE FINACALLY HANDICAPPED TO BOOT! WE CAN GROW AS A RETIRMENT COMMUNITY.!! IF THE SECT-CULTS OF THIS PLACE WILL STOP POINTING FINGER AND POINT THE HELP IN THE RIGHT DIRECTIONS THRU-OUT THEIR INDIVIDUAL NEIGBORHOODS. >>me first<< chuckles code inforcement does a pretty fair job and is only blind in one eye… only when it is for “the good” of the “situation”.I HAVEN’T HAD A NEW -USED SOFA IN 20 YRS I CAN’T PAY TO HAVE THE OLD RUINED FURNITURE-STUFF REMOVED. IT TOOK TWO SUMMER TO BUY A LAW-MOWER. WHERE WAS THE HELP OF THE NEIGHBORS THEN, I ASK YOU,,,, ON THE PHONE TO THE CODE INFORCER..WHOM DIDN’T HAVE ONE TO LEND ME EITHER.(my neighbors pay to have theirs done by a lawn service YEARLY. perhaps they could of sent their work-man over to cut my grass so their home would look even better on yard-work-DONE day..DUH? DO YOU THINK?? DUH? CHRISTANITY GOES NO FUTHER THAN THE INSIDE OF THE THRESHOLD OF THE CHUCHES AND COMMUNITY SERVICES ARE ONLY FOR THE ONES WHOM CAN AFFORD THEM AND BEING ABLE TO KEEP UP WITH THE V JONES IS FOR THE V JONES. I AM A AMERICAN WHOM WISHES THE CODE INFORCEES COULD COME TO…INFORCE THE CODES WITH PAINT BRUSHS IN HAND, LAWN MOWERS ON THE TRUCK AND THE NIGHBORS HOLDING HIS LADDER.(and the preachers praying for a week-end full of perfect sunshine on my doorsteps. THE DOZER WOULD BE FOR PUTTING IN A NEW GARDEN WATERFALL .after 20 yrs here and being poor with no place else to go..(you’ve seen my place before i’m one of your neighbors down the street that doesn’t have a 401k & who’s table you have never graced because the paint is pealing off the house)

well lest close on this note, we still need new structures “village wide” & “IN MASS” to retian our retirement community just as it was concepted by mr murdock >>A-NEW.<< and code inforcement comittee that helps to inforce the code by helping those whom need help tidying-up along with the services to do so paid by sd.(which would be a tax deduction at year’s end anyway)(?)..if they paid >>>equal<<< property taxes like the rest of us whom love IT and Live IT here in v. AMERICA? i have more village pride than most..i’m just too poor to do much about it. i’ll leave that up to the jones & my area-code phoning nieghbors.

By Broderick Perkins

January 19, 2007 04:48 PM | Link to this

Americans were more likely to pull up roots in the Northeast and across the Rust Belt and put down stakes in the West and Southwest last year, according to a migration study by the nation’s largest mover.

St. Louis, MO-based United Van Lines’ “2006 Migration Study” of 227,254 interstate household moves in the 48 contiguous states and Washington, D.C. reveals a definitive migration pattern in the nation — at least among those who used the mover’s service.

United classifies each state as either “high inbound” (55 percent or more of the moves were into the state); “high outbound” (55 percent or more of moves out); or “balanced.”

Most states were “balanced,” but 12 states and the District of Columbia revealed definite inbound patterns while nine states revealed the opposite.

The South was a big draw as North Carolina came in as the top destination with a 64 percent inbound rate. Out West, Oregon was the second most popular inbound state at 62.5 percent.

Other states with high inbound rates were South Carolina, 60 percent; Nevada, 59.9 percent; Idaho, 59.3 percent; New Mexico and the District of Columbia, 57.9 percent; Alabama, 57.5 percent; Utah, 56 percent; Tennessee, 55.8 percent, and Montana, 55 percent.

On the outbound trail, Michigan tied with North Dakota for the top 66 percent outbound rate, followed by New Jersey, 60.9 percent; New York, 59.5 percent; Indiana, 58.2 percent; Pennsylvania, 57.0 percent; Louisiana, 56.4 percent and Ohio, 55.8 percent.

The study also found:

After being outbound last year, Nebraska, at 52.5 percent inbound in 2006, had 3.2 percent more moves into the state compared to 2005. The year 2006 marked the first time in 25 years that Minnesota, at 51.3 percent inbound, saw more people moving in than moving out. Missouri at 51.8 percent outbound, continued its 12-year outbound trend as 1 percent more residents left in 2006 compared to 2005. Wisconsin, at 53.2 percent outbound, witnessed its lowest outbound influx since 2000. Reeling less from Hurricane Katrina, Louisiana’s 56.4 percent outbound rate reflects 1.5 percent fewer people shipped out by United than those in 2005. Considered a balanced state, Oklahoma, 50.0 percent inbound, saw a 3 percent increase over last year’s numbers. California and Florida may be perceived as inbound states but they are also listed as “balanced” states and actually lean toward being outbound. California had a 53.9 percent outbound rate while Florida’s was 51.2 percent.

“Go West” has begun to take on new meaning.

By Realist

January 19, 2007 05:02 PM | Link to this

Broderick Perkins:

That cannot be, we have 1000 people moving TO Florida everyday! This will never change, ever it’s like gravity, a constant throughout the universe!!

By Steve

January 19, 2007 05:47 PM | Link to this

By crazydem

January 19, 2007 08:54 AM | Link to this

Fink/Steve/RCA-Explain to us what it is like being so involved in the day to day fluctuations of a particular asset you don’t even own.

Like watching a car wreck. Like sitting in the catbirds’s seat.

Have you ever predicted something and before it could affect you negatively, taken action? It feels good.

By huh?

January 19, 2007 06:37 PM | Link to this

to imanc,

huh? what? huh? what? huh? what? huh?

if that woman or man is typing like that, that person is lost and probably needs some mental help. where is he or she talking about?

any guesses?

By friday nite lights

January 19, 2007 06:44 PM | Link to this

to huh,

i have no idea. i feel sorry for people like that, but i can’t save the world, so i don’t try.

to steve,

you will be one sorry guy in a couple years when you look back on 2007 and lost dreams and missed opportunities.

By HAARWOOD

January 19, 2007 07:28 PM | Link to this

I’m not going to buy in the Hamptons. It’s just too 1973. I’m going to Evergrene. Does anyone know how to find the street that best fits Wysteria Lane or maybe I would like to reside on a cul-de-sac called Seaview Circle. Is that possible there?

Well I, I’m in a bit of a quandary. I’ve misplaced my spectacles.

Oh my goodness. What a spanking button.

I got it from the Institute. The Institute.

By nervehit

January 19, 2007 08:00 PM | Link to this

I agree, looks like this post hit someone where it hurts. :

By Prices

January 19, 2007 10:24 AM | Link to this

“The bad news is, the prices are out of this world. If you think they were nuts last year, you ain’t seen nothin’ yet.”

“New sellers seem to be laying down a gauntlet: “I don’t need to sell. Pay my price or f—- off.””

“This “Price” imbecile does not have the capacity to understand that asking prices are meaningless — a figment of the imagination, a (seller’s) wish made on a dandelion, a sugar plum fairy dancing in “Price’s” otherwise empty head”

re above:- seems a nerve hit.

Example of useful (to idiots like me)info easily tracked on web and saved for ref.:

1860 Primrose Lane Wellington 33414 Current MLS ID R2712261.Re/Max Direct. 5Bed 3Bath Pool etc.

Current “meaningless” price - 419K.on mkt this time 150 days first price on this list - 439K . 12/8/06 439k to 424K. 12/9/06 424K to 419K.

In Aug. 06 Open House and nice website with many pictures, 465K. Then 449K.

Last sale per PAPA Aug 1996- 175K.

Before rushing to buy, do search of for sales by zip code 33414.

This home was on these blogs back in Aug.’06 and again in Oct. as example of non-movement of inventory. The free publicity did’nt help.

Thought by now some cheeerleaders might buy it to stop it being used as poster boy of current market conditions. Will be interesting to watch. Condo situation on Ocean also amazing will provide data if you like.

By maxmoose03

January 20, 2007 12:04 AM | Link to this

“Condo situation on Ocean also amazing will provide data if you like.”

Yes, the condo situation IS amazing. last month alone, actual median price (PAID) for condos in PBC rose 8%. If there is not a corrective movement this month, then the rise in condo prices AS WE SPEAK is unbelievable.

As more buildings like Trump’s Luxuria come on-line with prices in excess of $5 million per unit, median price can only soar.

You have to feel sorry for a guy like “Price” — sitting there collecting ads on asking prices like some character out of the old Twilight Zone series.

This guy is in far worse shape than Mike Fink. Fink, although he will never have the balls to do it, at least talks a good game about going and making the offer HE wants to make to dozens of different owners.

Voila. There’s the key. Why Price would give a damn how much people want him to pay for their house is beyond me. You make YOUR offer to a seller, not his. If someone tells me to jump off a building, I don’t jump. If someone asks me for 500K for a house that is worth 300K to me, guess how much I offer.

“Price” - why would you let your life in any be steered by other people’s desires? You are a sick guy, spending time collecting meaningless numbers.

If you ever try to buy a house (not a likely scenario), how about you offer YOUR number — not theirs?

“Price” you are priceless.

By maxmoose03

January 20, 2007 12:55 AM | Link to this

BTW — “Price” forgot to tell you all that a nearby house on Snapdragon has only 3 bedrooms and 2 baths, no pool, is 20% smaller, listed at over 25K higher, listed in the same month as the current Primrose Lane listing — and has a contingent contract on it.

No two houses are neessarily alike, and Price’s history of asking prices tells you nothing about either house.

Nonetheless, liars and lunatics like Price will do what they do, for reasons only a psychiatrist could best fathom.

By maxmoose03

January 20, 2007 08:11 AM | Link to this

Since the dog woke me up, I should make him type this entry, but he is as stubborn as Fink and only slightly better at arithemtic.

The scenario above demonstrates the nuttiness of “Price’s” methods. One house in the neighborhood sells successfully, the other one has not yet — for whatever reason, possibly for no reason. But Price ignores the houses that sold successfully, and keeps collecting figures on houses that did not sell successfully, month after month. Eventually he is going to wind up with a list of ONLY the houses that have been picked over and rejected — and he will make offers to buy ONLY on those houses no one else wanted.

Does this sound sane to you?

By the way, there are about half a dozen current contracts on houses in that neighborhood — I was having flashbacks to the height of the boom.

By imanc

January 20, 2007 08:50 AM | Link to this

you can see ss’s zero-pay CHAREAITY LAND HOLDING COMPANY on the i-net. LEADING THE WAY FOR ALL THE REST OF THE DIRTY DOZEN LLCS TO FOLLOW. (THAT PREY OFF V lands) IN 2007.V.”SD-DY” PAID ONLY A GRAND TOTAL OF APPX $4.EA,LOT TAXES YEARLY.WHEN YOU BUY THESE SIDDY OWNED LOTS thru C’S “front-man” for “dowg-gats-it” MR.B SIGNS THE TITTLE GRANTOR=AC (to??) YOU’LL NEVER SEE SIDDY’s NAME ON THE DEED? whom-ever else owns approx 200 RE-WASHED lots ea.? WHOM ELSE at any given time doesn’t pay the FEES/taxes on RE-WASHED-PRORERTIES”(?)”, when all of these lots goes up for tax sale many lots are then re-zipped thru a “tax deleting-spot removing—wash-cycle” and come out ‘FLIPPED” BACK tax+free clean again thru siddy to ac?. follow the deed-flipping exchanges? follow the courthouse records on any of SIDDY OWNED LOTS> LOOP HOLE USE ABUSE!

WE PAY 100% & THEY DON’T PAY ZIPpo!!<< SIDDY “FOR GIVES” IT’S OWN TAXES & fees+ HIDES BEHIND THE NEW STATE LAND CLAUSE THAT MUNICAPALITY OWNED LANDS ARE TAX EXEMPT..IS SIDDY A >>PRIVATELY OWNED INITY ONLY! WHOM OWN V AMENITIES? WHOM MAY”ADDITIONAL GLEEM % COST OF THE MANTAINCE CONTACT FROM OUR CITY OF V. >>WHICH WE PAY REAL TAX $$ FOR<< DO THEY ALSO COLLECT STATE+FED MONIES TO DO THIS? EVERYONE SHOULD DEMAND THAT THE V SIDDY’S AND THE ROAD DEPT’S ENTIRE RECORDS BE “PUBLIC published” ACESSABLE VIA THE I-NET PENNY BY PENNY DAILY! TALK ABOUT SCAMNING V LOT HOW ABOUT THE SCAMING AN FLEECING OF US-THE VILLAGERS? NO-ONE P-OFF YET?? DUH?? WHY NOT??YOU WANT THING “LEFT JUST AS THEY ARE”? SO DOES SIDDY!! come all yea V peasent-try rise-up!!squall!! in mass!! COUP ON>V SID-DY’S CONTRACTUAL AGREEMENTS! FREE US OF THE COALISITION’S OPEN FLEECINGS & SCAMMINGS VIA PRIVATLY COLLECTED LAND USE FEES! IS THIS TAX EVASIONING & LAND TAX LANDERING! equal payees for ALL LAND HOLDERS & LLC’S & kick siddy to the curb packing & take the city SERVICES back!! you don’t want change here?? THEN YOU DO want your siddy fees be so high?? ha! what a joke!! RUlES of v. shut-up and put-up or get the hill out. everyone shoud leave things just as they are!?.Get real people! it’s a private party, THE bouncers are behind CLOSED DOORS. what happened to ed-the-talking-horse’s show? duh!! take a guess?? SCAMMED? if when his investments goes threw the fully defunked cycle, siddy may fearlessly re-snatch them-up. PEHAPS when a local tax-sale is scedualed UN-ETHICALLY RE-WASHING them AGAIN. AS long as these lands keep getting “re-washed” the less goes to the city’s operational funds.we lose again big time!.who in the village would ever want to change this? SO YOU SAY>WE ARE AN INCORPARATED CITY NOW> WHAT YOU DON’T TRULY CARE TO UNDERSTAND WE “RE-INCORPARATED” WITH an ENITY WHOM PRIVATELY OWNS ALL OF V AMEMINTIES THAT GAVE DoWG-GOT-IT ALL+A HIDING-PLACE WHERE AN AC COULD BE FORMED? YOU DON’T LIVE IN CITY OF V? BUT WITH-IN A RE-INCORPED SUBSIDARY LEASE-BACK CONTRACTED DoWG-GOT-IT DEV.CO’S AGREEMENT (THRU USE OF THE OLD REVISED BILL OF ASURANCE), RE-FORMING A PRIVATE INTIY’S “PERMA-NITCH” AFTER HARRISON DIED. MILLIONS OF RURAL DEVL FUNDS+WHERE ARE THESE FUNDS? DUH?+COULD THEY FREELY SELL THEIR AMENITY INTERESTS TO ANYONE ON A WHIM$ WHY MUST WE continue TO PAY ON A CONTINOUS LAND USE contract?+ADDITIONAL ACCESS FEES TO ACTUALLY USE them? -AC+SS! ARE YOU IRATE? GONNA REPLY FOR ME TO MOVE-OUT & SHUT-UP..GOOD!! BRING IT ON! MAYBE YOUR HEAD ISN’T all UP SIDDY’s HINNY, don’t we all support OUR V’S WHITE CALLAR CRIMINALS BY NOT CALLING IN THE FEDS TO INVESTAGATE? IN A TRUE CITY, NO ONE PAYS TO a private inity “TO WALK ON WATER” WHICH REQUIRED THOUSANDS OF PEOPLE TO PAY TO HAVE REGISTRATION CARDS TO WATCH!>JUST ANOTHER NEW MAYOR,? I THINK AS HE TRYS TO TEST-DRIVE HIS NEW JOB, HE’LL KNOW what a puppet is.DARE HE LAY DOMIN-CLAIMS ON THE AMENITIES USING>FOR THE GOOD OF THE PEOPLE LAWS,WHY KEEP WITH-IN SIDDY’S land lease GRIPS? HAVE WE A STATE & FEDERAL PROSUCUING SCAM-BUSTER-TEAM IN PLACE,FULLY INPOWERED? WE NEED A MAYOR THAT’LL TAKE BACK WHAT SHOULD ALREADY BELONG TO THE VILLAGERS>HAVEN’T we paid enough FEES in 3/5 CENTURY? IT’S PAST TIME TO CLOSE THE “V TOLL BOTH” THE HYWAYS PAID FOR!. WE NEED A “NO MORE DEALS ANYMORE” MAYOR!<< with speed-dial to STATE+FEDERAL INVESTAGATING, PROSUCUTING AGENTCIES+THE FBI’S BRANCH OF USE OF THE I-NET, LAND SCAM-BUSTERS DEPT. (ON SPEED-DIAL 24/7!+SCAM-BUSTING (NON-OPERTUNIST) CITY ATT ON OUR SIDE! should we have a new litter of professional venture-capst that’ll give old dowg-is-out a run..for our cv siddy land use moneyS.+find A TAX-EXCEMPT SWISS ACC? DOES ANYONE HAVE THE PHONE# TO ENRONS’ PROSUCUITING ATT? LMAO!

By IMANC

January 20, 2007 09:30 AM | Link to this

i have lived here for 20 yrs and have sadly watched good developers come and go! it is way past high time that our majorority population’s income begans to catch up with the rest of the world,and exceed 13-18k avg. annual income here in the city/village. we need major developers to come in here and really construct us into the the 21’s centrury! it has been far too long that ZG+sd has kept thing in their death grip-pockets. we are a city now and should be allowed to develop duplexes,tri-plexes and condos complexes,plus bring in a few excellent factories,(for our working age people). I is a shame that we have soooo much and yet still so little. the city of v should be e owner of our amenities not sd! sid should be done away with totally and v totally incorparated like a true city. I think sd always has boil on the hinnie of the the village with millions foing into their pockets! they buy back all this land out here hide it in the “shadows” of tax exempt and pay less than $5.oo (five bucks) per lot, per year until some one wants to buy it. then it is “re-channeled” out thru the poldf land company @ no less than 5-8k (low end price) per lot. oh yes, they also “forgive” themselves of thier own SD taxes. CHECK IT OUT AT THE COURTHOUSE WHAT SD “OWNS”. IT MAYBE INTERRESTING TO KNOW THAT THEY ALSO “HIDE” CHOICE PREMIUM TAX FREE LANDS IN THE FIRE DEPT, ROAD DEPT ect. ROAD DEPT. NO ONE IS P.OFF ABOUT THIS?? NO ONE CARES BECAUSE AS FAR AS ANYONE TRULY KNOWS SD IS JUST THE “CITY SERVICES DEPT” FOR V. SD IS OUR “MOFFIOS DEPT” OF V. NO ONE CAN TOUCH THEM, MANY HAVE TRIED,ALL HAVE FAILED. UNTIL V GET THEIR HEADS OUT OF THE SAND, V ILL ALWAYS BE A FINACALLY CHALLANGED TOURIST POT-HOLE. HUNDERDS OF EXCELLENT DEVELOPERS HAVE BEEN DISCOURAGED FROM DEVELOPING HERE FOR DECADES. A SMALL SECT OF VILLAGErs SQUALL ABOUT KEEPING THE PLACE AS IT ALWAYS HAS BEEN, THIS IS SOOOO WRONG! WE NEED TO GO OUT AND DOZE DOWN ENTIRE DEPRESSES AREAS AND PUT IN INDUSTRAL PARKS. WE NEED TO CATCH UP WITH THE REST OF IT IN GROWTH AND DEVELOPMENT. WE HAVE IT ALL HERE IN THE VILLAGE,AND NOTHING! IT’S A CLOSED SHOP RULED BY A ONE OWNER “PRIVATE” POCKET LINING INITY. ie IF WE WILL BUILD IT THEY WILL COME,AND OTHERS WILL FOLLOW, JUST LIKE IN JN, AND OTHER PROGRESSIVE TOWNSHIPS.PERHAPS WE COULD GET OUR HOSPITIAL -REOPENED AND ALL THE RETORIC IN THIS $ OTHER NATIONAL WEBSITE ABOUT DRIVING ALL THE WAY TO OTHER PLACES JUST FOR “TOLIET PAPER SHOPPING” WOULD “VANISH” FROM THE “AMEMITIES” OF THE VILLAGE. I SAY ~~~> BRING MASS DEVELOPMENT ON IN MASS! WE SHOULD HAVE A DEVELOPMENT COMMITTIEE IN PLACE AND IN FULL SWING AND THAT the LAND COMPANY BE EXSPOSED FOR WHAT IT REALLY IS DOING AND HOW & BY WHOM! I’LL LIVE HERE TILL I DIE, BUT WE ARE NOT KNOWN FOR WELCOMING PROGESSIVE THINKING. I AM SHAMED OF MY FELLOW VILLAGERS WHOM THINK NO PROGRESSION IS THE “PRIME AMENITY” OF V. I SAY OPEN THE GATE AND LET THEM COME AND STAY! WE’LL BE A BETTER PLACE FOR IT. JOBS!

By maxmoose03

January 20, 2007 10:58 AM | Link to this

Dog woke me up again and I think I’m dreaming. Does anyone know what language “imanc” is writing in? Am I the only one who doesn’t understand a single word of it? It’s like one of those experimental SAT tests where they replace all the text and questions with gibberish, and you have to choose the right answers.

By Mike Fink

January 20, 2007 11:31 AM | Link to this

Max,

For once, you and I agree.

Imanc is definately taking too many drugs before posting on the blog. :)

By TANC

January 20, 2007 12:13 PM | Link to this

IMANC sounds like some of the spam I get every now then in my email box….

By Prices

January 20, 2007 01:17 PM | Link to this

Somehow rants of “maxmoose” remind me of great Bogart performance in “Caine Mutiny”. Maybe “maxmoose” should be “maxqueeg”.

I do own multiple properties, have for more than 30 years. I doubt you really believe it is at all difficult, with todays software, to easily accumulate historic data for listings from day one to SALES price. Combine these with easily available online municiple RE records. Over time you will have YOUR OWN verifiable data, no need to pay attention to shills or others locked into predictions or positions of large geographic areas. Or flaky sites like zillow. Today, snapshot of any area by zipcode takes literally seconds.

Another stupid thing I do is track rentals available in areas I may purchase in. Do quick search of rentals available in 33414 (area of 1860 Primrose Lane listing) on realtor.com.(or your preferred search) This shows competition for renters and going rental incomes possible.33414 shows way too many low rentals for large homes to be healthy.

Also shows homes with Rent/buy options. eg 1852 Wisteria 4/2.5/pool, etc. Rent $2,300. - On for sale listing R2788747 selling for $409K. Take a look. Nice home.Nice pool.Eventual nice deal. Pick your favorite zip code then narrow down from that.Make some use of those 60gig drives.

By Prices

January 20, 2007 01:53 PM | Link to this

Forgot other stupid info re 1852 Wisteria St, listed at 409K, or rent $2300. It last sold Nov 2005 315K per PAPA.

By floppedflip

January 20, 2007 04:08 PM | Link to this

Posted data for Wisteria St. sure makes it look like another flip that may flop. Paid 315K . mtg probably around 1700, taxes 500, ins 200, . Already carrying costs $100 above listed rental option of 2300. So many other lower rentals and for sales in same area has to hurt. Looking at all data does give better picture of how motivated a seller may or may not be.

If sells much lower than the 409 listed, not much return for time and costs and aggravation sunk into buying and now trying to sell.

No wonder smarter flippers gone, or only at extreme high or low end of mkt.

By To imanc

January 20, 2007 04:31 PM | Link to this

Yo, Imanc my man, they just don’t dig your rap, but you are one jive MF. Did you that HO’s body in WPB? Nice operatic touch. Now get the hell of the hood before AMW gets a tip on your sorry a-s!

By maxmoose03

January 20, 2007 05:32 PM | Link to this

“Prices”: What is your point? If you konw that PAPA shows you (usually) what a property sold for, why do you track asking prices, which are nothing but a whim?

Are you really so naive you don’t realize I adjust asking prices for myself and clients on a weekly basis?

What exactly do you think an asking price respresents??? AND WHY oh WHY would you care what a seller wants you to pay? I am looking at this strictly from a buyer’s point of view. Now tell me: Why should I give a sh— how much you or any other seller want me to pay for a property? HMMMM?

Mike Fink - Re: IMANC

I guess everyone needs a hobby ;-)

By maxmoose03

January 20, 2007 05:45 PM | Link to this

BTW FINK: You do have a leg up on this “Price” guy:

You are at least talking the right talk when you suggest sticking to YOUR price and trying it in different places. Do YOU care how much a seller wants you to pay? No rational person would.

I understand from “Price’s” neighbors that this is a guy who stays up all night watching Nickelodeon, and along with R/E ads, collects scripts from old movies and TV series.

It takes all kinds ;-)

By Shaker runners

January 20, 2007 07:13 PM | Link to this

Hi everyone,

I was wondering if someone could give me their honest opinion about living in Jupiter/Hobe Sound/Stuart. My husband and I moved to a small town in NC in 2005 from Shaker Heights, OH and while we still love the scenery and nature aspects of it, we are becoming a little disenchanted with the locals and the lack of things to do.

We are not in a rush to move, but I am the kind of person who likes to plan and research things. My husband was born in Sebring, FL and his family moved back around there when he was 13. He didn’t enjoy the small town he was in during his teen years. But, we have since visited friends in Stuart and the surrounding areas and there are things we both seem to like about the area. I like that it is a city but it doesn’t seem to be a big, crowded city. I like the surrounding towns and that there are houses tucked back in more natural settings but a close drive to shopping and such. My husband is fine with any one of the 3. Jupiter seems like the place for me, but I think it may be too pricey and toney for me. It is simply georgous.

The farther south we went, the more crowded it got. We got as far as Forest Hill Blvd and turned around. We don’t think we care for West Palm Beach.

These are just my observations from two quick visits.

I would love if someone could tell me if my thoughts are accurate. Jobs aren’t that much of a concern for us. My husband is retired and I’m in nursing. So, I can work anywhere. Thanks to anyone who responds.

By Ronald Cerreta

January 20, 2007 08:09 PM | Link to this

It’s not surprising that the real estate market is soft in Florida. The second home market is collapsing because of the state’s discriminatory taxing of non resident homeowners. My 850 square foot condo which is 26 years old, has seen the real estate taxes jump from $700 4 years ago to $1700. And I only use the State and County services for two months a year. It’s a disgrace and people who might have moved to FL are now going elsewhere. Florida will and is becoming a state of the poor and the wealthy with no middle class. Good job. The public is ignorant as to what is going. In my home state politicians are held accountable by the voters, if taxes are raised to much, they are voted out of office. In FL you have County Commissioners who control the purse strings along with taxing entities that just submit their bills to be added to the tax bill list. No accountability. The County Commissioners can’t all be voted out of office at one time, because I’m told they don’t all run for office at the same time. The State needs serious tax reform and gov’t reform.

By StuartRE

January 20, 2007 09:37 PM | Link to this

Good start point for prop search in Stuart. http://www.trulia.com/FL/Stuart/34994/sort_lowest/

sort options allow sort by various criteria : price, size, etc.

Take your time, as pointed out by moose poster ,ignore asking prices - they are fantasies as moose points out- made up weekly and different asking price in diff media.

browse listings of hundreds for sale, note MLS # , date and price, check back every few months. Same address may have new MLS # and lower price.

Make sure you understand what YOUR taxes will be (-much higer than current owner-) and INSURANCE costs for you on property. If money for these expenses no problem, there are MANY anxious sellers willing to deal.

By maxmoose03

January 21, 2007 12:03 AM | Link to this

WOW - some good rational advice from StuartRE.

“Shaker” - Permit me to add that you can research selling prices at www.pbcgov.com/papa for Palm Beach County and www.mcpropertyappraiser.com for Martin County.

You should be able to cut yourself a break from the peak prices. While few informed people are expecting any kind of crash, there are, as StuartRE points out, plenty of people out there ready to deal. Determine what you think a reasonable price is for a property, then go with YOUR price — not a fantasy (great description, StuartRE) asking price. When a reasonable buyer meets a flexible seller, that’s a possible deal. After all, houses still trade hands every day.

I would just be careful as to whether you’re not going somewhere a little too quiet for you. You may find that being in a place that affords access to hospital jobs also puts you in a place with more services available at night.

Take a ride around after 10 at night. See if you are bothered by the extent to which the sidewalks are rolled up. Also make sure that a place that looked good during the day does not seem poorly lit and isolated at night — and that it is not a gathering place for anyone you don’t care to run into late at night.

Palm Beach Gardens is another place to consider, and our own lovable Mike Fink is always touting the bargains at Abacoa — but I would urge you to verify this for yourself.

Best of luck.

Good job, StuartRE! (IMHO)

By Steve

January 21, 2007 02:22 AM | Link to this

Good info Prices. Asking prices versus selling prices are an interesting comparison.

By maxmoose03

January 21, 2007 08:17 AM | Link to this

Can it be? Even “steve” has a sense of humor.

By Prices

January 21, 2007 09:29 AM | Link to this

maxqueeg should make up his mind.In early post goes gaga over prices on new listings, then calls list prices fantasy. Whatever. The list prices (and changes of same) of properties by zip code, over time,are one element of gauging market trends. Actual SELLING prices and NUMBER sold IN RATIO to number on market are also elements.

For new potential buyer - TODAY , find some addresses on line in areas you may be interested in. Save with date and MLS #. Get last selling price and date from county website. While there, get current tax cost and if property homestead or not.

Use sites like realtor.com , ziprealty, (some sites show number of days on market)to check number of for sales and for rent in zip code of your interest . Look at rent requested and properties involved.

This accumulated info will show price trends over time. It will also show properties where non-SOH owner is anxious to get out, especially if same non-SOH property is for sale, and for rent, and still empty. Save data in manner that shows change in prices by date, and changing MLS #s due to expirations or diff. realtor.

Your obligation is to your family bank account. Just as sellers is to his. Seller will look to maximize his gain, at your expense. You must maximize your purchase power. No bad guys, just business. Do not waste time haggling. Some sellers will never sell as they are too ego invested to sell for less than what neighbor got last year.

Too many other properties available that are getting back to reasonable buyers target price.

Once you use the online RE info and County sites a few times you will find easier and easier. Build your own knowledge base, be patient, save MANY,MANY THOUSANDS .

By maxmoose03

January 21, 2007 10:54 AM | Link to this

“Prices” - I was not “going gaga” over new asking prices - I was CRITICIZING people for asking astronomical prices, and not having learned anything. You are so incredibly stupid you don’t understand what you are reading.

You say don’t haggle? You just pay an asking price? You are out of your cotton-pickin’ mind.

As a realtor I feel ETHICALLY bound to urge people to ignore the rantings of this maniac, and to seek financial advice from a CPA or other qualified financial professional of their choosing.

And if you want MLS information or trends, simply ask an MLS realtor. You don’t have to spend your life (inaccurately) re-inventing the wheel. If you want public sales and tax data, it is available on-line, free to anyone, 24 hours a day. www.pbcgov.com/papa in PBC. Choose “advanced search” and “sales.”

I have found private web-sites such as Zillow to be incredibly inaccurate — and I have the real data to compare. You are making a dangerous mistake relying on Zillow.

Go back to “Leave it to Beaver,” Prices — it’s the closest you will ever get to any beaver.

By To: Shaker Runners

January 21, 2007 11:30 AM | Link to this

I too am from Shaker Heights. If nightlife is NOT your thing and physical beauty and peace and quiet is…then you MUST checkout www.pgavillagehomes.com on the Treasure Coast!

By Prices

January 21, 2007 11:50 AM | Link to this

Only way someone could misinterpret what I posted to mean “just pay asking price” is by failing to read all or intentionally trying to mislead.

From my earlier post :

“Do not waste time haggling. Some sellers will never sell as they are too ego invested to sell for less than what neighbor got last year.

Too many other properties available that are getting back to reasonable buyers target price.”

As far as gaga -

From maxqueeg earlier :

“The bad news is, the prices are out of this world. If you think they were nuts last year, you ain’t seen nothin’ yet.”

“New sellers seem to be laying down a gauntlet: “I don’t need to sell. Pay my price or f—- off.”” “Thus with buyers and sellers at an impasse, the Haves remain Haves and the Have-Nots remain Have-Nots.”

“The next chance for Fink and other procrastinators is the normal summer doldrums. Of course, there’s no telling where prices will be “leveling off” from by then.”

“You blew it, Fink. YOU are the one who got greedy. You weren’t satisfied with a neat little price break. Now you can wait until you’re living in Cemetery Village to buy.”

Sounds like gaga, warning of need to grab “bargains” based on new ASKING prices and sellers telling buyers to f—- off.

If maxqueeg really thinks using web to accumulate,file,sort RE data requires “spending your life” as oppossed to minutes at a time pointing, clicking, saving and sorting, perhaps he needs a little training or other assist.

As easy and quick (and interesting) as it is to see and accumulate easily verifiable RE data anyone who thinks (or at less says)it takes “spending your lifetime” should be suspect for either competence or sincerity. In maxqueegs case, as bitter as he sounds, it may be both.

By disenchanted with NC

January 21, 2007 12:27 PM | Link to this

Hi Shaker,

We, too, were disenchanted with North Carolina. We were in Rocky Mount and can say it was the biggest mistake of our lives. The main problem is deep down, the old time locals, pardon me, but they hate your guts. I can’t put it any other way. We were bored. You can only look at the mountains so much. We’re too old to hike everyday. Here we can go to the beach with our friends, it’s just lovely.

Thankfully, we still have our home here and learned a lesson.

The good thing is we sold our home up there for $45,000 more than we paid for it in a very short period of time, to a family from Ft Lauderdale who came up there with no jobs and the kids came kicking and screaming, our realtor told us later.

We think they overpaid for our house, but who are we to say otherwise.

They bought into a dream and overpaid for it, my husband keeps saying. My husband calculated out their expenses one night just for fun, and he believes, from what the realtor told us, they’ll go through their money in 18 months and then what? Work at Walmart? Sell used cars to hillbillys?

Oh well, I’m just so glad we’re back!!!!!!

We just hope they got decent jobs and the neighbors like them.

By maxmoose03

January 21, 2007 12:37 PM | Link to this

Priceless -

You are really incredible. You are so stupid you can not understand what you yourself quoted above.

And For the umpteenth time, a price you see in an ad means nothing. We throw them out at on the spur of the moment, to catch morons like you. And ALWAYS, these days, “REDUCED.” Everything is reduced. Doesn’t matter if the listing is 5 minutes old — it’s reduced.

As far as collecting data goes, I spent a number of terms teaching computer science in colleges you could never in your life get into, and have for decades advised major companies in the industry, such as IBM. That’s a plain fact. So don’t lecture me on your home-made database. You are an idiot, plain and simple — especially simple.

Now why don’t you change your name again, so you can spout some more Alice in Wonderland? That is the only place in the universe you will get close to a female, you mentally and socially retarded loser.

By Prices

January 21, 2007 01:09 PM | Link to this

Nice essay on Ludwigs 9th in todays paper. “Ode to Joy”, is great call for brotherhood and understanding by Schiller.

In another work, though, Schiller states : “Against stupidity the gods themselves contend in vain.”

Adieu maxqueeg.

By maxmoose03

January 21, 2007 01:32 PM | Link to this

How thoughtful, Pricewhine. I was a professional musician too, so are you going to lecture me on Beethoven as well?

You poor schmuck. You are the little fat kid everyone picked on in school.

You are the unattractive adult who sits alone and watches Seinfeld reruns until he knows them by heart.

You live in a lonely fantasy world with your old movie scripts, your TV and your PC, which you seldom leave.

You feel empowered when you can fill this column with crap — old real estate ads, old TV dialogue, Alice in Wonderland, absurdist ramblings when you can’t deal with an argument. Finally a chance to get someone to listen to what you have to say! Right?

Wrong. Because you have nothing to say. There is no you. There are quotes from old scripts, newspaper articles, the little tidbits of verbiage which, pasted together, function in the place of a mind.

60% per cent of the space-wasting crap in this column is YOU, under different noms de plume. Somehow you are under the impression that when you change your name your pathetic personality - or lack of such - does not peek through.

You are leaving? Tant mieux. Bon debarras.

Good riddance.

By queegwho

January 21, 2007 02:06 PM | Link to this

Had to look up who queeg character was. Very funny. the name really does seem to fit max, considering the rants he lapses into. Missing any strawberries max ?

By maxmoose03

January 21, 2007 03:45 PM | Link to this

Missing some marbles, queegwhore (a.k.a. Price)?

By fraises

January 21, 2007 03:55 PM | Link to this

S/B - manquer des fraises, max ?

By Prices is .

January 21, 2007 04:01 PM | Link to this

This is easy.

Prices is Dot (.)

He was so slammed being dot, he is now someone else.

Hey Roessleville/Albany,

Please don’t eat the yellow snow.

Hey Plano/Garland/Dallas,

You just have no clue on how to work a copy machine while eating donuts on the clock. You know, I trained you, it’s easy, you ceiling facing on your back louses.

By maxmoose03

January 21, 2007 04:07 PM | Link to this

BTW - For those of you with scorecards at home:

“Queeg” is a reference to the Caine Mutiny, a 1951 novel turned into a 1954 file, which is where Price picked it up from.

See my above anyalysis of “Price.” That is where this guy lives. In 50 year-old movies. He has a Humphrey Bogart fixation as well. Can anyone say “pathetic”?

By blueboy

January 21, 2007 04:09 PM | Link to this

Prices and maxmoose03 secretly have forbidden late night circle jk’s.

They were both up late having a lover’s spat, they left angry (who left who’s condo at 338am to go home in a huff and the drive home reminded him to go to Dairy Queen for a soft serve cone, and now they can’t seem to kiss and make up.

They’re lovey boys. I think they’ll meet at Roosters on Belvedere tonite. If they go, one of them will ask to put Heidi in the Swiss Alps on the TV instead of the AFC game. Maybe not, maxmoose likes Peyton Manning in his tights and Prices likes Tom Brady and how he flexes his shoulders when he throws.

It’s all so Gary Glitter sometimes when they fight.

By Let's see

January 21, 2007 04:16 PM | Link to this

Let’s see who runs to Publix first to buy a package of Ballpark franks and an Avocado, could it be maxie or pricey boy??!!

By to blueboy

January 21, 2007 04:26 PM | Link to this

you know, when two weak, slothy males fight on the serengeti plain, the strong, confident males let them fight, and then when they’re both finished fighting and even weaker, the strong ones come in and take over, and of course, take their women folk away. Oopps, sorry, women folk wouldn’t apply in this situation…..sorry

By hahahaha

January 21, 2007 04:42 PM | Link to this

hahahahahaha

slothy

hahahahahaha

max and price and women folk

hahahahahaha

By maxmoose03

January 21, 2007 06:27 PM | Link to this

HA HA HA

That’s right. Imagine some poor fool who has nothing better to do than answer himself on this blog.

Imagine not having the courage to pick a name “such as….mmm… Signed” and stick to it.

Pathetic, pathetic, pathetic,

It just gets worse and worse.

409, 4:16 - You waited a whole 5 minutes.

4:26 4:42… Sure

HA HA AH AHHA HAH

You poor, pathetic retard.

By maxmoose03

January 21, 2007 06:36 PM | Link to this

By the way, folks, this was “Price’s” response last time the Max group took him apart for wasting column space. All of a sudden there were 10 new and unkown Mac-detractors in an hour, all with the same linguistic base. The stupid motherf—- forgot he even used “Maxqueeg” as one of his pseudonyms. What a mo-ROOONE.

You ahve to appreciate the comic irony though, several people writing occasionally as one (Max), and one imbecile writing constanly as many.

Can you believe this nut? Let’s see how many times he can talk to himself tonight.

By INTERNET MADAM

January 21, 2007 07:09 PM | Link to this

CONGRATULATIONS CHICAGO BEARS AND CHICAGO FANS EVERYWHERE!

WELCOME TO THE SUPERBOWL AND SOUTH BEACH!

My Kind of Town Chicago is, My Kind of Town Chicago is,

My kind of people too, People who——- Smile at you and each time I roam, Chicago is, Calling me home, Chicago is,

One town that won’t let you down—— It’s My Kind of Town!

My Kind of Town Chicago is, My Kind of Town Chicago is, My kind of razz-ma-tazz,and it has—— that there jazz and each time I leave, Chicago is, tugging my sleeve, Chicago is, One town that won’t let you down, It’s My Kind of Town!

The Wrigley Building, Chicago is, The Windy City, Chicago is, The Union Stockyards, Chicago is, The CHICAGO BEARS, Chicago is, One town that won’t let you down, It’s My Kind of Town!

By INTERNET MADAM

January 21, 2007 07:20 PM | Link to this

CONGRATULATIONS CHICAGO BEARS AND CHICAGO FANS EVERYWHERE.

WELCOME TO THE SUPERBOWL. IT’S BEEN 21 YEARS - LET’S DO IT AGAIN! Time to party!

Chicago Chicago, that toddlin town. Chicago Chicago, I’ll show you around, I love it!

Bet your bottom dollar you lose the blues in Chicago Chicago, The folks who visit all wanna settle down.

On State Street, that great street, I just wanna say,

They do things they don’t do on Broadway, say,

You’ll have the time , the time of your life, I saw a man who even danced with his wife,in CHICAGO, CHICAGO my home town!

By Former Floridian

January 21, 2007 07:25 PM | Link to this

Left South Florida and cashed out 2 years ago and don’t regret it. It’s not the same anymore. You shouldn’t have to pay top dollar to live where a murder a day is becoming the norm. I don’t need to live someplace where I have to constantly watch my back and my property. It’s hard to enjoy the weather with a gun to your head. Besides, you can’t find a parking space at the beach anyway. It’s too crowded.

By maxmoose03

January 21, 2007 08:07 PM | Link to this

Former Floridian — If you left South Florida for fear of crime, you may have made a mistake. Check the FBI crime statistics for Boca Raton, as one example. It would be hard to find a safer place, even in the boonies. You may get your pocket picked, but that’s better than having a gun shoved in your face.

Perception of crime and actual reported crime are often vastly different.

By maxmoose03

January 21, 2007 08:19 PM | Link to this

Internet Madame - Qu’est-ce qui se passe? Tu me voies ici et tu dis pas un mot? J effondre :-(

Tu me manques.

By Donny Boy

January 21, 2007 08:32 PM | Link to this

When Max and Price kiss and make up tonite at Roosters, will their real estate make a sound?

I’m thinking it will burp and then roll over and go to sleep…..

By maxmoose03

January 21, 2007 08:39 PM | Link to this

Donny Boy. HA HA HA. The same dork with another new name, same style.

But you made a logical error. A boy would have a dick, and you don’t.

LOL

By INTERNET MADAM

January 21, 2007 09:00 PM | Link to this

Bon Soir Maxmooseo3,

Did you bet on Chicago Bears and win today? We are still so busy counting up all the money we won on Chicago Bears. I thank the news media for having everyone betting on New Orleans. If it wasn’t for the media, I would have never had made this much money with the odds.

I still have my Superbowl Shuffle from 1986. I must start practing that dance again with my ladies. We have to get ready for the main event. CHICAGO IS A WINNER ALL THE WAY. That team has some interesting and wild plays that will cost everyone betting against them tons of money. You will be talking about the DEFENSE strategies and how they were implemented for years to come.

LUCK BE A LADY TONIGHT! Maxmoose03, are you betting on or against the Chicago team? Time to place your bets. I’m taking anyone’s and everyone’s money in this game. Now that is a sure bet.

By frank

January 21, 2007 09:12 PM | Link to this

Great Googly Moogly!

I thought Max was going gaga over Peyton.

I never thought the Madam, that philosophical wizard of the extravagant, would be so smitten with the burly Bears. I thought going after a bear was strictly for Prices and Maxie purse lilac boy…..

Great Googly Moogly!!!!

By maxmoose03

January 21, 2007 09:23 PM | Link to this

“frank” is a better name for this guy, because he’s a wiener.

LOL.

He must sit there all night and wait for a post to show up on his PC. Why does he bother changing names????

Internet Madame - Le meme sport n’existe pas chez moi, voyez vous…mais si vous permittez, je vous offre cette suggestion…employez un peu de votre aubaine pour regaler, et on prend un verre ensemble ;-)

Qu’en dis-tu?

By abcMOOSE

January 21, 2007 09:25 PM | Link to this

This is the most entertaining part of the PBPost online. Way funnier than Frank Cerabino’s column. Especially the perpetual arrogent, yet nonsensical rantings of easyasmoose, and his other assorted pseudonymns. One has to wonder the truth of this angry cyber loner. I am picturing someone like the ‘Comic book guy’ on the Simpsons. A bitter, obese loner with no real life, thus, the reason he is able to post on blogs 24/7 under various pseudonymns. I bet he does this because he cant find any cyber geek trekkies to play Dungeons and Dragons with him. Keep them coming abcmax. Laughter is the best medicine. Oh yeh, I LOVE the fake letters from dissapointed ex-pats who moved to NC. Creative touch, but a bit too obvious. I noticed that you restrained yourself from making your tired ‘Mayberry’ comments for a touch of realism. I am now wondering if abcmax is just some fat socially handicapped unemployed 32 year old living with his parents. All the signs are there.

By to Max

January 21, 2007 09:33 PM | Link to this

What do I say, you say?

This is American football. Let’s not and say we did.

By High School is fun

January 21, 2007 09:40 PM | Link to this

Max,

Please stop yourself. I even think Prices gave up a long time ago, or, he actually has something to do.

You have been played again. We played you months ago and you fell into the trap again.

We are a few high school students who laugh at you and play you. It is fun. It is juvenile. It is sophomoric. We love it.

That’s ok. We’ll be earning more than half you morons in less than 5 years. We are learning so much of what not to do, hahahaahahaha.

With much greetings and salutations,

Brightman, Willy, Smackdown, and Hoseboy

By Chicago baby!

January 21, 2007 09:44 PM | Link to this

da BEARS!! Nice to see America’s greatest city being represented in the Super Bowl this year. YAH BABY!!

Now, not only is the best pizza in the world from Chicago, also the best football! Now, if only we could trade all the obnoxious ex New Yawkas for Chicagoans, things would be so much nicer on the ears. No more being assaulted by nasally leather skinned New Yawkas ordering KO-AWW fee at Starbux.

Then, instead of all these tired dellis, and bland New Yawk pizza places, we could finally get some REAL pizza places down here in SOFLA.

New york pizza…PLEEEZE! If I want a thin floppy peice of pizza, I can get that in the cheapest frozen pizza at Publix. A big round cracker with catsup is how Id describe New York pizza. What a sin that all we can get in WPB is crappy NY style pizza. ugh. Papa Johns will have to suffice.

By pizza

January 21, 2007 09:49 PM | Link to this

I like the 99 cent Totinos at Winn Dixie. It’s easy to microwave in my $31 microwave I bought at WallMart.

It’s better than anything from Des Plaines or White Plains.

By maxmoose03

January 21, 2007 10:48 PM | Link to this

High School children:

All you did is confirm that you are as stupid as high school kids, which is what I’ve been saying all along.

The first thing you should do, if you want to get a job at all, is learn to use the proper quantitative adjective — something the combined efforts of four retarded children could not accomplish.

By the way, Mr. Sophisticate, can you tell me what I just said to Internet Madame in one of the numerous languages that I speak and you don’t?

By the way, can you tell me some of my pseudonyms on this blog, since you are so perceptive?

I kick your asses day after day on this blog, and this is all you’ve got? Oh (grinning from pimple to pimple), we’re just high school students.

You guys are headed nowhere but construction jobs. Know how I konw? I used to teach in your school system. Whether student or not, I know who is hot and who is not when it comes to potential — and you guys are not.

Sorry to be the one adult who will break this to you, but you guys are headed for the union line, then the shape-up line, then the welfare line. DUH!!!!

SO, who am I?

By maxmoose03

January 21, 2007 11:03 PM | Link to this

So, Pimpleface? It’s getting late. Daddy (this month’s Daddy) will kick your butt if you’re late for school.

What other pseudonyms of mine have you talked to?

I do want to thank you for confirming exactly what I have been saying about you all along. What’s the matter? You’re not proud? You don”t want to show this to Mommy?

The dumbest of my high school kids are significantly smarter than you.

That’s why you’re headed nowhere — not the NFL, not a college degree — nowhere.

Send me a postcard the first time you get laid.

By maxmoose03

January 21, 2007 11:34 PM | Link to this

By the way, if there are any adults left out there — this is a good time to return to my favorite soapbox: why Florida is number 48 out of 50 states in education.

You just saw a demonstration of the prime reason. Frankly, we have deplorable raw material to work with. However, it goes deeper than this. No one is willing to be honest in the entire system. Everyone is too politically correct to tell these kids the truth, be honest about their limitations, and try to achieve what we can by staying out of fantasy-land.

Kids like those are patted on the head, told how bright they are, which they are not, told how much potential they have, which they don’t, and given a bum steer in life in the name of “enhancing their self-image.”

It’s time to do less enhancing and more educating. It is time to stop trying to make a silk purse out of a sow’s ear. Not every kid has unlimited potential, as you see, and we should have institutions of learning which distinguish those with true academic capabilities from those who think they are bound for the NFL (the most common fantasy among my remedial reading kids).

So much time and money is wasted on standardized tests, on-line test grades, infinite “accountability.”

I am tired of hearing about holding the teachers accountable. Let’s hold students and parents accountable too — and have programs that are fitted to student capabilities, not their fantasies.

By NEH

January 22, 2007 09:16 AM | Link to this

I am so tired of the realtor happy spin that the bottom is here. They have lost all credibility, and the news that Naples Realestate Assoc is going to refuse to send the stats to be reported, reduces their credibility even more. We can’t trust the realtors in Florida in any way shape or form.

By cw1900

January 22, 2007 09:32 AM | Link to this

Good morning,

Monday morning notes from cw:

First off, Max, you have some good points on real estate, you really do, but god, why, are you bothering on the weekend? Take the weekend off and don’t let the kids rile you up. I can just picture these kids typing and laughing in between hits from their bong. Don’t count them out. They’re probably all going to Ivy league schools.

The only good post from this weekend I read was the woman from Ohio asking about moving here from where they were in NC. It sounded legit to me. I’m sure Rich R and Easy will have fun with that one this morning. After reading what followed, she’s probably having second thoughts coming back to us in kookland. I agree, Shaker lady, Jupiter is gorgeous. I’d turn around at Forest Hill, too.

Shaker lady is a segue to this. Two news articles in the paper today. The first is very sad and makes me mad, and the second is funny. Both have to do with what I and a few others discussed last week.

First, a 43 yr old guy walked outside in his front yard in his gated community in Boynton and was shot. He will never walk again. For no reason. Read it. “Shooting leaves Boynton man paralyzed” in this mornings PB Post.

Next, and this I heard on the radio this morning and is in the FT Laud newspaper this morning…”Family fight turns violent after woman shoots husband in back”. This is the funny one. Rednecks out in Loxahatchee near a 7-11 fight, and the wife shoots the husband in the a*s. The fight was probably over a pack of cigarettes, a old pickup truck with bald tires, or the outcome of one of the NFL games on Sunday. I’m sure both of them have been on a previous episode of Cops.

Both of these stories are exactly some of the reasons for my comments last week and I quote:

“Look, in terms of where you want to live when you are out searching for a home, look at a few easy and very simple to understand ideas and you’ll be fine. A few of these are harder to apply to very urban city environs as neighborhoods can change by simply crossing the street. Number one, even if you don’t have kids, please buy in the best school district you can afford, even if it does mean buying a home less than what you can get in a lesser school district. There were a few posts that did a good job describing those situations. You will have better appreciation in the long run.

In a suburban environment, if you are looking in neighborhoods that are a very quick drive (I’m talking one, two, three minutes) to a 7-11 convenience store, an airport, a body shop, a check cashing store, a strip mall that has a rent-to-own store in it, those are sure signs you are looking in the wrong place. Even if it is a nice place you are looking, you are too close to less than desirable neighborhoods, and those landmarks that I just mentioned are sure signs poor people are very close by. That also tells you the schools nearby are not as highly rated. You will never see a payday loan store outside any affluent neighborhood. Just because you are poor does not make you bad, but spending hundreds of thousands of dollars, I am certainly going to do everything in my power to make it the best investment it can be. This is just basic common sense. Real estate is simple, like other businesses, if you just use a little common sense. “north county resident” said it best with this quote, “They traded safety and living amongst a higher class of people for, in essence, granite countertops.” His post was excellent and made very valid points.”

I’m sorry, but that is true stuff. Why anyone would live in Boynton, Lake Worth, Haverhill, (you know what I’m saying) is beyond me. I would never trade safety for material things. Ask that poor guy in Boynton if he’s sorry he moved to a hell hole like that.

That story makes me want to puke.

That’s all I’ve got today. I’m disgusted.

By Hezbollah In North Carolina

January 22, 2007 11:59 AM | Link to this

Another great weekend in South Florida. I know we did not have a full moon, but we did have many nuts writing here again.

What was Imanc saying? It seemed like someone put bad heroin in RCA’s pudding! Or a Realtor who just lost it, knowing he/she cannot sell. I have NIA resources, and I still don’t get it.

Let tell you about this terrorists story in NC. It seems that Iranian backed Hezbollah terrorists are living in NC, making money buy shipping cigs from NC to Michigan for a higher profit, then sending the money back through NC to Iran. The FBI caught a few members already. NC has one of the largest bases in this counrty in NC. They Hezbollah Hillbillies are also into selling fake goods to “half-backs” and others in the Carolinas.

I know people like CW, Signed, maxmoose and a few others will have their fun on this story. While people like Rich R. , Steve and other goofballs will defend the “trailer trash Hezbollah terrorists”.

I did enjoy reading about “Don trying to pick up Peggy” story. We need to hear from Peggy if she contacted Don and took a ride on his banana boat! Also, will she sail on his sailboat?

Was someone trying to say that maxmoose and I are the same person now??? Has to be that paranoid loser realtor thinking I am all the people who write here.

Maxi, you do need time off from this site. You will end up like Rich R., sharing pie with some guy named Omar and his friends in a trailer park and thinking of ways to take over Mayberryland. If something like that did happen, I have faith in Deputy Barney Fife of defending our country with only five bullets in his pistol.

So Maxi, relax and put away your marbles and enjoy a dish of ice ream with two scoops of strawberries. Go out with a woman on Saturday night and try to turn off her bedroom light switch if it gets desperate for you.

BTW, what is going on with you and Madam? Did you hook with her? Her ladies?

I did see a few people are moving back to FLA fro NC. You people need to show your passports as you re-enter the state. Plesae take off your shoes and be prepared to bend over and have Steve give you rubber glove exam at the top of the state. If he uses his index finger on you, you will get back in. If he uses his middle finger for the exam, well,…. you are F*!

NEH, trusting a realtor is like trusting the fox to watch the hen house. The new tactic these Realtors are doing are looking for recent widows on getting their listing. The real estate industry became one big WHORE industry. No professionalism at all.

You see who is making money these days? The insurance agents. One agent in Boynton Beach made $750k in 2005. In 2006 he made $3.6 million ! All with this raising the insurance rates in this state.

The three groups of people who run this country are lawyers, doctors and insurance. That is why we have 18% of our population in poverty.

CW, crime can happen anywhere. Rich areas or poor. I think we all should just lock the guns, knives, baseball bats away and enjoy the Super Bowl.

The only way you want to educate your kids, is to let them have an open mind, have them read anything and everything, discuss their day with them at dinner and let them end the night by watching the O’Reily Factor. Or you could just slap them across the head and put fear into their heart. Either way, it will work for them on making it in life.

You know, a good honest person will run for President. His name is Bill Richardson from New Mexico. Anyone who knows his background know what I am talking about. The only reason he will not win is because he is a “have not”. He does not have $100 million to buy his way into office, he is too honest, his last name is not Clinton or Bush. And his name does not rhyme with Osama.

A.P., I think it will take 20 months to see $500k as the median price. The “have nots’ cannot come to terms that ….”as we talk, the prices are going up”.

easyasabc

By ifitseasy

January 22, 2007 12:31 PM | Link to this

The weekend posters must be bored gaurds or shift workers (or realtors ?) with net access at work. (Access to other stuff also)

If its easyasabc to predict prices rising, why does inventory keep climbing ? Numbers of all types, in all areas are crazy. Need some of that boomer money promised for a long time. Maybe 2 tier tax and insurance is turning seasonals to renters instead of buyers.

Old buzzwords “paradigm shift” may come around again in discussions of SoFl RE and why buyers are fewer than anticipated.

Anyone know if State can run ads in So America ? We need buyers from somewhere.

By PriceDrops

January 22, 2007 01:17 PM | Link to this

Housing Predictor Forecasts Major Price Drop

Housing prices will fall an average of 4.2% nationally in 2007, the largest drop in U.S home prices since 1991. But despite that many local real estate markets in the US will still appreciate, according to Housing Predictor, which forecasts real estate markets in all 50 US States.

After nearly five years of record housing appreciation in many markets throughout the country, only seven states still have markets that are strongly appreciating. Alabama, Louisiana, Mississippi, South Carolina and Texas still have very active real estate markets continuing their upward trend in the south.

In the west Washington state and Utah are experiencing massive areas of growth. Spokane, Washington, east of the Cascade Mountain Range hasn’t seen a booming real estate market like this in 15 years.

However, California is the hardest hit single state in falling home values in the nation. Housing Predictor forecasts that San Diego will drop more than 13% on average in 2007 to lead the state in depreciation.

The Los Angeles metropolitan area and surrounding suburbs will fall more than an average of 11%.

However, Miami, Florida is forecast to be ground zero in the nation’s falling real estate values in 2007, according to Housing Predictor’s forecasts.

The Miami market has seen sky-rocking appreciation the last three years with many investors flocking to the area to buy preconstruction condos. The condominium market exploded with new investors, many of whom are now cancelling transactions before the units are even completed.

The over abundance of units has brought the Miami market to a shadow of its once booming cycle and now has an over supply of units to sell. As a result Miami is forecast to drop 13.6% in 2007.

Texas, however, may be the new boom market in the US. After seeing prices fall on the heels of business scandals and the resulting loss of many jobs, and foreclosures, the Houston real estate market is on the road to recovery and will appreciate strongly in 2007, according to a report on the site. Texas is under going the largest growth in its history and is forecast by the U. S. Census Bureau to be one of only three states to have nearly 50% of the nation’s population by 2030.

Austin, San Antonio and El Paso, which is in western Texas are also experiencing upward spirals in home appreciation as more and more people migrate to warmer sun belt climates.

Seventeen interest rate hikes by the U.S. Federal Reserve Board and an over supply of new homes in many of the nation’s cities slowed most of the country’s real estate markets.

By Broker Bob

January 22, 2007 01:47 PM | Link to this

Real Estate dependant posters saying “worst of Bust” was last year, are deceiving Public.

According to Miami Herald Sunday, Jan 14, 2007 article, “There Are 65,827 Existing Houses on MLS in December 2006”… Compared with “31,000 in December 2005”!

The Crist’s touted Insurance “Legislation will Only Stop 2007 Filed Insurance Premium Increases.. But NOT REDUCE 2006 Premiums which Will Remain The Same As last year! More People are putting houses up For Sale to Leave Florida moving to Georgia and Carolinas…. now being called the “New Miami”!

By Signed

January 22, 2007 01:51 PM | Link to this

“That’s it! I bought my land online and I’m moving to California Pines. I bought my lot for $$24,900 and it looks like paradise on the pictures on the internet. I’m gonna make my easy payments of $343 and build my little cabin with me and the misses and life is going to be just grand. i’m just so sick of those smart guys on the real deal blog and their holier than thou attitude about how my love of north carolina has nothing to do with cars up on blocks and living in a double wide is not as bad as what my ex boss at the works dept said it was going to be and man if any people with towels on their heads or talk like they are in one of those cult muslim things where they marry their 18 sisters and end up in modoc, i’ll just take the misses and do a thelma and louise, but then it won;t be thelma and louise it will be darryl and margaret, but that’s ok and i really can;t believe people who ride camels are coming to my state of paradise, the fabulous north carolina with its hills and valleys and oh man, here in america we don’t ride camels, we smoke ‘em…..and wait a minute who took off my in memory of my momma decal on the back of my truck, you know momma would have wanted it on there until at least the next darlington race……”

Signed,

the guy at the gas station who sells Rich R his Beef Jerky and the hard boiled eggs in that pink or green water with the Dale hat on backwards but you know it has some brown stains under the brim from where he keeps adjusting it whenever Rich R comes in cause Darryl thinks Rich R is one of the high fallootin’ Florida people who came up there with $50,000 bucks in their pocket and think they’re goober rich…..

By Rich R

January 22, 2007 02:57 PM | Link to this

Well, I will say that do take great pride in the way folks keep referencing me on this blog.

I gave up long ago and simply read on for the sheer entertainment value.

It’s amazing to me how many stupid and rude people there are down in SoFla. Growing up there, I never paid attention. From the outside looking in, you all should just grow up and be ashamed of yourselves.

I got back to NC late last week after spending 10 days down in that cesspool.

It’s been almost two years since I left and I can honestly tell you that I wouldn’t move back to that hell hole if you gave me a house for free.

If you choose to live in SoFla, so be it. That’s good for you.

I have moved on and definately moved up by moving to Raleigh, that’s for sure.

Just sad, very sad the way SoFla is becoming a crime ridden slum.

Enjoy the drive-by’s, enjoy the car jackings, enjoy the drug shootings, rude people, horrible traffic and a local government that just don’t care.

I read the PB post daily and just have to shake my head in wonder why anyone would pay these outragious prices/costs to live there.

Just too funny.

Ok, it’s the bashers turn. Have at it boys. Your posts just make me more happy with my choice to get out and take lots of cash with me. Yahooooooo.

As we speak values are dropping.

By easyasabc

January 22, 2007 03:42 PM | Link to this

There will be some new businesses opening up in the Carolinas.

“Hamas R Us” will feature today’s new line of military hardware for all those backwoods rednecks who want something more than fireworks.

“Mohammad Mart” will feature fresh camel meats, something the half-backs missed at Mizner Park restaurants.

“Hezbollah Homes” is a new home builder in the Raleigh area. If you are late on home payments, your mortgage rates explodes through the roof, along with you.

“40 Virgins”, I believe the Internet Madam has rights to that business. I bet there is a mule involved!

“Jihad”, something like “Applebees”, but with more flies in the soup. After you have your meal, you will be soon praying to the “Lord of Porcelain”, facing East.

OK, we are told now that people should give up on the Carolinas and move to places like Mississippi, Arkansas, Alabama or Texas. Well, that did not take long for the new area to move to.

Georgia as the next Miami? What I have heard, there are more hispanics in Georgia than in Miami. But there is no South Beach in them cotton fields.

Broker Bob, how much is your place? The one you are trying to “flip”? The reason why we have so many listings, is that the realtors cannot sell these days, lenders are in a panic because of the Feds, and buyers are turning into ever-lasting dreamers. We have 8,000 agents in Palm Beach County, and only 500 sales in November. Do the math Bob on how many agents had a pay check in November. We will hear back from Broker Bob on Tuesday, he has to go wait on tables at Denny’s tonight.

Nothing wrong with Denny’s. I wish they just give some more mash potatos with my Turkey meal.

Utah is getting massive growth because men in this country heard you can marry more than one woman in “Big Love” country. It seems NC guys are getting tired dating their cousins, that or they cannot see what is behind the veil of those new girls in Raleigh.

Life is good in Palm Beach. I need to talk with “The Donald”. His show sucked last night. I think Ivanka should spend a night in the tent with the guys to spice up the show. For being only 23, she has what they call a “big booty”.

Time for a new article!

easyasabc

By To Rich R

January 22, 2007 03:47 PM | Link to this

Damn right you will not be back. We know the only reason you were back here was to pull that botched WPB bank job! Anyway now that you’ve skipped out again, next time remember not to leave your prints on that pie tin again!

By Quick Update

January 22, 2007 03:52 PM | Link to this

Rich R. just wrote, and he was here. He did not sell that cesspool home in Lake Worhtless. But he did throw out the 16 member Central American family that did not pay his overprice rent in his 2/1 dump.

Do you think he came here to peddle off his cheap cigs in a 16-wheeler?

If I knew you were coming Rich, I would have baked you a pie!

All that crime he talked about was the one night he had with his in-laws and ex-wife.

Watch out for those icey roads going back along I-95. Did you have to bend over for Steve when you came back here? Maybe that is why you like to return to South Florida????

easyasabc

By Rich R

January 22, 2007 04:16 PM | Link to this

I DID sell the lake worth house. Thank goodness.

you’re correct new business is coming to NC.

Google is putting a $600 million data center and Fidelity Investments started hiring 2,000 workers with an average pay of over $70K per year.

Scripps don’t hold a candle to the growth in NC. Wake up SoFla, the party is over.

HaHaHa.

Just way too funny.

Bash on. It’s all you have.

By Broker Bob

January 22, 2007 04:55 PM | Link to this

Don’t forget the Pig nad Chicken farm Factory Jobs, which are 100% Cental American & Mexican Illegals which are 30 percent of your small town polulations?

Pray no major storms land in North Carolina, then Pig & Chicken Factories Excrement lakes/ponds Overflow and Pollute Entire State with Listeria and Coliform Bacteria and feces!

By EasyMaxStudent

January 22, 2007 05:40 PM | Link to this

Does easy/max/(pick your alias) ever think of something new besides bashing NC as Mayberry.

Despite the fact that Raliegh is the state capitol, and is 4 times the size of West Palm.

Can we say ‘research triangle’? Oh wait…they wanna build a research facility in Florida, right? Well, at least, thats the cover for an excuse to build some ridiculous 10,000 home development way out in the everglades.

Culture you say? You poke fun at NC, yet I see more toothless inbred looking type with confederate flags at their homes and on their pick-uo trucks here in Florida, then you’ll ever see near Raleigh.

Florida culture…give me a break..Oh yeh…Singers Island…March…BET Booty Beach Bash….Lets hear it for Florida Culture!! Its easyasabc to respond to maxmoose’ student’s idiotic comments

By Jim Beam

January 22, 2007 06:21 PM | Link to this

I know how you guys hate cut and paste but found this from the local NC Papers. RichR you really know how to blow stuf out ur a ss.

Yesterday’s print edition of the Raleigh News & Observer has a huge piece on what NC is doing to try and convince Google to build a server farm in Lenoir (which is located in the west of the state).

Lenoir and Caldwell County are in dire straits, especially since they relied heavily on a now defunct furniture industry. It’s so bad there that Caldwell County Economic Development Commission and Duke Energy have bought up 150 acres just in case Google selects Lenoir. In addition, state and local governments are willing to forgo real estate taxes for 30 years, worth $100 million, in a desperate effort to attract the $600 million operation and the 210 related jobs.

While the average salary would be close to $50k a year, most local unemployed residents would need extensive training, just to get invited for an interview. In fact, it’s not so much the jobs created by Google, that the state is going after, but the related jobs and economic investment that would come from having Google in the county.

2000 jobs with 70K a year. How about 200 and 50K. What a dumb a ss

By maxmoose03

January 22, 2007 06:40 PM | Link to this

CW —

Actually, I felt guilty last night realizing that I was even lying to these kids. No, they are not going to Ivy League schools, CW. They are going to the meat grinder in Iraq and soon Iran.

Bush has already floated a trial balloon in the form of a “leak” of plans for a massive invasion of Iran. Nobody made a peep.

We will need something like 150,000 troops above anything the volunteer service can provide. Your Republican buddies will not oppose it for a second. Even a loony Democrat - Charlie Wrangle - is openly insisting on a draft — and this time no educational deferments.

When these goofball kids expect to be “making more money than half you morons” they will instead be on the battlefield of Iran, where, statistically speaking, at least one of them will suffer permananet “life-altering injuries” (i.e. loosing a limb or two).

If no one acts to stop Bush NOW, this is what is unquestionably coming.

As annoying as adolescent goofballs can be, and regardless of how limited the prospects may have been for these 4, they deserved something better than lying in their own blood in Iran 3 or 4 years from now. I’d rather see them sitting around the bong thinking they were something.

By Arkansas

January 22, 2007 11:04 PM | Link to this

I have read these posts here for many months. I have learned and laughed a great deal. I have also heard the praises and pitfalls of both Georgia and North Carolina, and very occassionally, Tennessee. Never until today have I read anything here about the state of Arkansas, and that was just one sentence, and only in passing, from easyasabc. Then I saw another making fun of a place called California Pines, both posts today and thought that was my sign. I have read a few posts of some of you about having homes on lakes in other states, and one person in particular, was thinking about moving up to his lake home area for good. I have thought maybe a few of those posts were about Arkansas, but it is hard to tell unless they come out and say it.

I feel Arkansas gets a bad rap, rightly so in many cases, but I would like to humor you and maybe teach some of you about the lake country in Arkansas. I believe it has been overly hyped in recent years in some of the same ways as NC, TN, or GA, but the state in general has been been the butt of jokes also. Again, many times I agree with the jokes at their core, but other times, not, and that is one of the reasons I am writing tonight. I am here to also set the record straight on the many people from all over the US purchasing lots in Arkansas, and the very good of it all and the very bad of it all.

We have had a home on one of the lakes in Arkansas, in a town called Cherokee Village, for over a decade now and live the rest of the time in Boca Raton in a condo I’ll say between 40th St and Palmetto Park Rd, east of Federal Hwy. I bought in the area up there when, even perfect direct lakefront lots like I have (and I have quite a few), you couldn’t give them away. There were no infomercials then. It was time forgotten. I can tell you it was like in Port St Lucie when you could buy lots up there all day long for 3000 bucks and there were no takers. It was alot like that. We didn’t care it was stagnant, as was many lake areas in Arkansas at the time, we only know it costs next to nothing to buy, the taxes are not worth mentioning, and the crystal clear, clean water in the lakes, the tranquility, and scenic beauty of the area was what we were after.

It is still Arkansas, however, there is little infrastructure, very little jobs, not much shopping in the rural areas, etc… it is almost as rural as you can get in some parts of the lower 48. Yes, all points in Arkansas are within a 2-3 hour drive to Dallas, St. Louis, Memphis, Jackson, Tulsa, Little Rock of course, but it is still very rural. That is also what gives it character.

We have all read and heard about the infomercials on buying land in Arkansas, TX, TN, GA, and even NC. Let me tell you a little about that and for goodness sakes, please do not ever compare them to quality lakefront or direct golf course frontage lots.

In places like Hot Springs Village (I’m using that as an example because people have heard of it), there are thousands of interior lots that are being bought and sold these days. Buyers do not realize that they are paying thousands more by buying off of these development companies than if they had just gone to a local realtor and bought an equivalent lots for much less, instead of the higher price that these little development companies are trying to get.

Due to the fact that there are thousands of these lots available, there is nothing unique about them, therefore, in my opinion, there is going to be a lot of people holding these interior lots thinking they have a bargain. The fact remains, you could have a bought an interior lot not too long ago for a few hundred bucks in many of these places I have mentioned. What I mean by an interior lot is one that is just a regular wooded lot not on or not across the street from any lake and/or golf course, just on some general street inside the development, near nothing, might not be a home on the entire road, just nothing different about it from the thousands of others just like it.

The real prime property in these areas, as it is here in south Florida with oceanfront and intracoastal frontage but on a much smaller dollar scale, is the direct lakefront lots and/or direct golf course frontage lots, but these are very hard to find these days and getting expensive, however, still far less in price than the more trendy NC or north GA lake properties.

But, getting back to the infomercial land sales, it’s a classic example of how novice investors overpay by not doing their homework.

Many companies you see buying and selling Lots in Hot Springs Village AR, Bella Vista AR, (but not much of that in Cherokee Village), and many other areas like that in TN, TX, CA, OK, MO, are for all intensive purposes, extremely overpriced. If something sounds to good to be true 99 out of 100 times it is. Don’t forget that. I’m not talking about legitimate real estate agencies. I’m talking about land companies offering hundreds of these lots in an area offering golf, tennis, lakes, etc. that you see on road signs and infomercials, ebay, and many other websites.

These companies get a celebrity pitchman to use as a sales tool. The sales model is simple, which is to buy dirt cheap lots in developments that have gone bust at least once, and in some cases multiple times, then Madison Avenue the place to death, then resell them to people who don’t know any better.

They pick an area, then buy ( or in most cases contracted to buy ) a large amount of lots for dirt cheap. This process in known as flipping lots or buying on assignment. They try to never put the lots in their name, But ultimately do with some, depending on the market and the actual lot location. They obtain these lots thru mass mailings to property owners, in which they offer the land owner a $ amount and promise to pay in x amount of days or months. Of course they constantly extend this time period. What makes a home run for them, and not the consumer, is this. They take lots they bought for almost nothing on average about $500-3000 and market them with the promise of a price increase just around the corner, for on average of 8,9,10,000, 25,000 to $30,000! They find the naive to buy them, by flying them into the area for a 2 day tour ( which is controlled constantly) just in case you thought of checking with a local realtor, and throughout this tour, pressure you to buy a lot, just like the timeshare tactics in the 70s and 80s. Granted, the lots did gradually go up in value, as did all lots across the US during this last land boom, but were worth nowhere near the 30k they were asking. In fact, most often, if you just went to a local real estate office, you could buy a lot right next to one they were trying to sell you, or many others just like it for much, much less.

Why would anyone buy a $5000 lot for $24900? Good question, but like everyone during the boom they were buying a payment. In most cases, all the prospect wants to know is how much a month? The consumers bought them with delusional ideas of at some point building a vacation / retirement home on it and/or as an investment, and proceeded to make those monthly payments until they came out of the delusion. This typically is about 1 year. At this point they had 2 options - 1. Sell the Lot or, 2. Keep making payments on it. When a consumer would contact a local realtor and find out the real value was less than they paid, and if they could find a buyer, because there are so many out there, the sale option immediately vaporized, after all they bought the lot for $24900 and still owed on average about $20000 on it. What was the next choice? Logically, it is for the buyer to default on the property. Why would anyone default? Well, what choice do you have? Continue to pay $200 per month or more for the predefined period which was usually many years and payback thousands, with interest on a piece of property that is now selling for 3 to 10K and in addition continue to make yearly payments on taxes and HOA’s, and any other assessments, or walk away from your 5k initial investment, or whatever it was, and hopefully learn from it? Not surprisingly, these companies average many foreclosures every month. I’m not so sure now, but it is coming to be like that again soon.

So, what do they do with these newly obtained properties? You guessed it. Continue those late might infomercials and sell the lot again. The American Way. Oddly, now, you don’t see those infomercials as frequently, if at all? Wonder why?

The bottom line is this. There were and still are a handful of companies who are still out there selling non-unique property to consumers with promises that it’s going up as they speak, when in reality, that in the future it may or may not appreciate as the salesman says. You, as the consumer should know better, but if not, at least do your homework. If a company tells you they have a lot they can sell you for 5k but they say it’s really worth 10k or they say the current market value is 14K, or in 6 months it will be worth 25k, because that’s what happened in many areas in TN, AR, TX, etc. Stop and think, there is no such thing as a free lunch.

It is technically true that some people over last 4 years made alot of money flipping lots, but for all intensive purposes, it was not Joe six pack from West Palm Beach, or mom and pop from Wisconsin who bought one single lot and thought they were going to be the Donald with it. These people probably overpaid and have lost money.

It never fails. The rich get richer and the poor get poorer. In this case, the rich are the lakefront owners with the truely valuable lots (they dont make anymore waterfront land) and the poor are the everyday joe’s from up north and down here buying the little wooded lots I’ve talked about. The have-nots, as in south Florida, make a stink every now and then about the “rich” lakefront people, as we do here about the oceanfront and the public’s access to it slowly eroding away. Same thing there, just different numbers, and smaller numbers.

Now for some good. What I do know about Cherokee Village is that it is a “best kept secret” type of place in Arkansas, as Bella Vista and Hot Springs Village gets more attention and press, and many people like it that way. It is growing slowly and more and more people are buying in Cherokee Village where I am. They are coming for a few simple reasons.

It is less expensive still than other areas. The tee times on the golf courses are whenever you want to show up, and the courses are very nice, really. The lakes in Cherokee Village are crystal clean (cleaner than over in BV or HSV). If you have ever seen people, young and old, male and female, wading and standing in the lakes chatting, or see boats go by with people cruising, tubing, waterskiing, or fishing, it is just a postcard picture you cannot imagine, and without the crowds of BV and HSV.

Quality, direct lakefront lots and homes and quality, direct golf course frontage lots and homes are getting more expensive everywhere in the southern United States, and as such, prices for those in Cherokee Village will steadily and slowly climb over time, but will still be less expensive than BV or HSV, or for that matter, lake and golf in North Carolina, north Georgia, Tennessee, or other popular areas that are in the south.

As an example, a relative bought a lakefront lot in Tennessee not really near any town to speak of, the lot is fair and a good 100 feet of lakefront and paid close to $300,000! No house, just the lot. His neighbor bought a lot, again, no house, just a lot, in a new development not built yet in North Carolina, and his lot is up in the mountains with beautiful views and over an acre, but not on any water or golf course. They just advertise mountain homesites with a future clubhouse, and hiking trails and such, and he paid over $155,000! You can get more for your money in Cherokee Village, and Cherokee Village is a real town with real people already there, not something in the future that you hope gets built soon and the developer doesn’t go belly up first!

All in all, I love Arkansas or I wouldn’t have gone there for all these years. The Ozarks are truly beautiful. Lake Ouachita, Arkansas’ ocean, and Mountain View’s music and charm, never gets old.

I know this was long, but I hope this clears some of the noise up.

By easyasabc

January 23, 2007 09:04 AM | Link to this

A short version of what “ARKANSAS” said in his 222 line, 2200 word essay was that …..he is stuck in the woods of Arkansas, and it is no Palm Beach.

By easyinfo

January 23, 2007 09:46 AM | Link to this

Another way to ID props that are for sale and/or for rent right on this site. Go to real estate search sect. “advanced” search. Put in “rent” for keyword of search of for sale properties in area of choice. Props. empty for months make for more reasonable seller to deal with.

eg: “Charming 4Br/2.5Ba on quiet cul-de-sac w/private water & golf views. Spacious yard, roofed patio and 2nd story balcony off mstr suite, gated community, walk to Wellington Country tClub. $369,900 Also for rent.”

By Realist

January 23, 2007 10:06 AM | Link to this

WCI statement for fourth quarter: “The operating environment in Florida continued to be challenging during the fourth quarter and resulted in cancellations outnumbering new orders in that market. Ouch!!

By to Arkansas

January 23, 2007 10:37 AM | Link to this

Yes, very long, but I enjoyed reading this. My daughter and son in law in Indiana bought something just like you describe in Waterwood Lake, Texas. It is a lake development that was trying to reinvent itself, I guess. They went down there for two days and went through a tour and presentation and are now the proud monthly payment makers of some little lot in their future paradise….or so they think.

You get what you pay for, and your description of how some of these companies are marketing these lots is very informative. I emailed this to my daughter. Thank you.

You’re right that the real lots you and I would consider buying as a potential investment are much more expensive, but it is simple supply and demand. The demand is for water and the supply is small. Those are the investment quality properties, not the ones you see on the guided tour. The lots being marketed to the prospects, you have to get in your car and drive if you ever want to get a glimpse of the water.

Lehigh Acres, east of Ft Myers, is currently being marketed like this last time I checked.

Isn’t this the same sales philosophy that General Development (GDC) did in the 1950’s and 1960’s in Cape Coral, Port St. Lucie, Port LaBelle?

Thanks for your post. I appreciate the time you took to write that.

By crazydem

January 23, 2007 11:14 AM | Link to this

Believe today I’ll log onto the internet and read about the price of gold. I’ll look around to see what the price is now and what it sold for one year ago. I’ll speculate on the direction of the price over the next 12 months. I’ll read any analyst’s report I can find covering the subject, then find a chat room dealing with gold, and post notes lamenting that I don’t have gold while telling everyone gold is way overpriced. I’ll say that, in fact, gold is so overpriced the average person can’t afford it, given the median income of our day.

By GoldMines

January 23, 2007 11:26 AM | Link to this

Why not just visit some local goldmines, AKA SoFl properties. Open Houses this weekend at Many. Some owners have done better than gold. Others, who were late flippers caught by downturn are stuck with pyrite lodes.

By Infact

January 23, 2007 11:37 AM | Link to this

Gold seems to be lying around on the ground now in SFL. In fact there is so much no one wants to pay high price for it anymore. It looks like some companies made way too much gold and too many specuvestors bought too much at a very high price.

By to crazydem

January 23, 2007 11:56 AM | Link to this

the gold bugs are alot like the havenots who pretend to try their luck at flipping and when it fails, complain to all of us the sky is falling.

Even gold bugs are right about once every 30-40 years.

they are all from the same breed.

By GDC

January 23, 2007 12:36 PM | Link to this

Very similiar sales tactics as the GDC stories from Florida’s past. It actually worked out, although it took many years.

All those northerners got sold a dream back then, and in today’s dollars, it was big money for those lots, then for years, thousands of those GDC lots went back for lack of payment, back taxes, etc.

Now jump ahead all these years later, and in PSL’s case, people up until 5 years could buy those lots for much less than the people who originally bought them for all those years ago.

It was a horrible investment for the people who purchased 30, 40 years ago.

From Wikipedia - “Port Saint Lucie started as a development of the General Development Corporation and became a city on April 27, 1961. The very rapid population growth started after 1980, with a population around 15,000 in 1980, and around 55,000 in 1990. There were only about 300 inhabitants in 1970.”

If you bought a lot in PSL in 1961 for thousands of dollars, by 1970, with a population of 300 people, I’m sure that same lot wasn’t worth 20 bucks.

It is true that no more than 10 years ago, you could buy lots in PSL for under 5 grand. I would be curious to see what they originally sold for in 1961, anyone know?

Anyone see the signs at off ramps on I-95 selling land for $7900, $8900, $9900? I have. I called one once for sh!ts and giggles, and it was some schmuck in West Palm Beach who couldn’t even pronounce the place he was trying to sell in Tennessee. Funny, but that a good post by Arkansas.

By Broker Bob

January 23, 2007 04:32 PM | Link to this

Thanks Arkansas…. for “Freebie”!

By The Beak to broker bob

January 23, 2007 06:37 PM | Link to this

what freebie did he give us? some good info, but i hope most of us know this stuff, buyer beware.

By RRR

January 23, 2007 08:53 PM | Link to this

Arkansas, I just emailed your post to my brother in Bloomington, Illinois.

He bought a couple pieces of property in Fairfield Bay, Arkansas a couple of years ago.

He plans on retiring there, but is unsure of when he may or may not build.

I think your information from someone who lives up there at least somewhat close, even part time, is valuable to those of us who only here the sales pitches and what our relatives say.

Thanks Arkansas!

By Arkansas

January 24, 2007 02:10 PM | Link to this

My pleasure. I’m glad to help. I just wanted dispel some myths.

To easyasabc. I enjoy reading your posts. Stuck in between your sarcasm and humor is some good, basic, common sense about our situation here in south Florida. I do take issue with you thinking I am just “stuck in the woods of Arkansas, and it is no Palm Beach.”

Granted, it was a long post, but if you read it, it is easily perceived from my post I am not stuck up there. I spend about equal time between there and south Florida. Of course, it is no Palm Beach. Nobody ever said it was. I, of all people should understand that. I live in both places, but don’t put down someplace you have never been. I know what it is, and what it isn’t, but it is a beautiful area of the country with its own sets of problems, as we have our own problems here. Money has afforded you and I to see much of the country, and I do not take that for granted. You and I both know south Florida is not the only place on the planet that is worthy of living.

Maybe this summer, you can take a trip up there. If you do, I’ll take you out on my boat for some laughs.

To Broker Bob. I don’t know what “Freebie” I gave you, but if my guess is correct, you want to go up there and see what’s going on. If that is correct, great, but let me give you a little piece of advice first. If you think you can go up there and try to “big city” your way into those real estate offices and come out a huge winner by taking advantage of a bunch of local yokels from the sticks, think again. I have seen the same thing quite a few times and it ends up being the opposite, and rightly so in those occasions. If, on the other hand, you want to get your feet wet, go up with a good attitude, you will receive the same and more back. I found in my years of business dealings up there, I can tell you, you will meet some of the nicest people you will ever want to associate with.

Good luck to all.