By Oh well

January 24, 2007 5:16 PM | Link to this

the site says I paid $300,000 too much for my house. If my builder is a member of National Association of Home Builders do I get a refund?

By Duh

January 24, 2007 8:04 PM | Link to this

What a brainless attempt at a real estate evaluative tool! Your home is worth what is sells for! Aren’t you sick of these moronic “one size fits all” formulas. There are so many factors which come in to play. Buying a property is not like buying an automobile or a computer where everything is standardized except the color or memory. In home buying a lot more to consider lcation is paramount but there are school districts, shopping and cultural considerations, available arts and entertainment, the weather, etc. Area demographics and on and on (not to mention the emotional aspects) Your house is worth only what someone will pay for it. If it’s desirable someone will covet it and pay dearly…if not then whose the fool? YOU bought it originally didn’t you? The staff writers on this blog are no experts! Listening to them is akin to asking an accountant to quantify the value of being alongside a serene fresh water lake versus fronting a roaring ocean surf with breaking waves or being on a home fronting the championship 18th fairway. The only figure that should be referenced is how the home compares with the one next door…is it better, worse or far superior. Real Estate is a LOCAL matter, even if you are in an overbuilt dumb condo, some unitsare better than others.

By Is this a joke

January 24, 2007 8:19 PM | Link to this

The blog and the calculator are so bad, I am without words.

By crazydem

January 25, 2007 8:29 AM | Link to this

Fink/RCA/Steve-This should keep you guys entertained on Saturday night before your big open-house oogling tour on Sunday.

By TANC

January 25, 2007 9:08 AM | Link to this

What a waste of webspace by the NAHB…

By easyasabc

January 25, 2007 11:29 AM | Link to this

I like how web sites like this one and zillow, feel they are RE experts by having customers putting in numbers or seeing your house/condo from above in a sky photo and put a price on its worth.

When was the last time have any of you had so-called RE experts come into your homes and give a value on your house? You cannot judge a persons property by just looking at it from the outside.

These sites are only a gauge, nothing more or nothing less on what their opinions are. No one takes their advice on what is published on them. As they say in life, take it as a grain of salt.

Linda, when you do write something these days, it is a joke. Go back buying some African/Carribean art objects.

By AJD

January 25, 2007 12:35 PM | Link to this

Seriously Linda.

By Wow

January 25, 2007 12:44 PM | Link to this

This website could not be more generic. You could get a better estimate for a persons house by guessing a number between 1 and 10 and then multiplying it by $100,000.

By Ostrowski-Fan

January 25, 2007 12:45 PM | Link to this

Please come back Jeff! We need you!

By new numbers

January 25, 2007 1:36 PM | Link to this

Here are your new numbers

Palm Beach County….median price $368,200….607 sales in December

Broward Country…median price $369,600…..618 sales.

Prices are holding here and across the nation.

8,000 palm beach county realtors, 607 sales….you do the math of how many realtors made money in December.

The ones who start yelling about prices need to be lower even more are the “have nots”, realtors, lenders, brokers. They are the ones who either want something for nothing or trying to survive on making ends meat here. I say the number by May will be 6,000 realtors here.

easyasabc

By TANC

January 25, 2007 2:52 PM | Link to this

Things are looking up…the 44 month inventory of homes is now down to 36…

By inventorydown

January 25, 2007 3:43 PM | Link to this

RE: Inventory down to 36 months. -

Wait till a few more tax and insurance bills hit home. Especially non-SOH and newer owners. Lot of properties not even put on mkt because of glut, just backed up, waiting till some inventory sells.

By Betting Easy

January 25, 2007 9:03 PM | Link to this

Easy,

You say there will only be 6000 realtors left by May. I bet you $10 grand that there will be 6000 minus 2 realtors by May.

I know 2 realtors who are going to be fined thousands of dollars for violating the Fair Housing Act by discriminating against FSBO sellers. Then after they get their fines, I know a friend of a friend at FREC who is going to have them lose their real estate license.

Now these 2 BROADS are too old and too ugly to be the next stars in your new porn movie collection. So I bet you another 10 g’s that they will be have to sell their own homes by the end of this year because of all their financial woes heading their way. Who knows, maybe they can load their u-haul truck and head up to the back woods of Carolina and catch up with the rest of the half backs.

I only bet on sure things, so do you want to take my bet?

The priest can hold the wagers as long as he is not a realtor.

By maxmoose03

January 25, 2007 9:43 PM | Link to this

“I know 2 realtors who are going to be fined thousands of dollars for violating the Fair Housing Act by discriminating against FSBO sellers.”

Am I the only one giggling?

Fair Housing laws address discrimination based on race, color, creed, gender, national origin, handicap or family status.

Do you feel you are being discriminated against because you are a nit-wit?

By maxmoose03

January 25, 2007 9:56 PM | Link to this

TANC: Of all the silly numbers bandied about, that “months of inventory” is the most absurd of all. As those houses get rented out or sellers just find better things to do, that “inventory” magically vanishes.

By Ignorance of the Law

January 25, 2007 10:29 PM | Link to this

Ignorance of the law is no excuse. Maxmoose is the nit-wit. There is Federal Fair Housing laws and the State of Florida has fair housing laws. If you really did have a real estate license or if you really did pass the exam for a real estate license, you would have covered a section on Fair Housing Laws that gives a very detailed description as to what a licensee will be fined for in violating a person’s right to sell. I believe the fine is $11,000 for the first offense. After that, you lose the license. You better pass the cup around in your office and take up a collection for your buddy, in case they haven’t been selling lately. It’s the thought that counts.

By maxmoose03

January 25, 2007 11:24 PM | Link to this

“Ignorance” — You are seriously out of your mind.

Your difficulty in writing reminds me of “Smart Buyer.”

Are you the same lunatic?

By Night Moves

January 26, 2007 12:09 AM | Link to this

I awoke last night to the sound of thunder

How far off I sat and wondered

Started humming a song from 1962

Aint it funny how the night moves

When you just dont seem to have as much to lose

Strange how the night moves

By cmgr

January 26, 2007 7:54 AM | Link to this

At this rate of appreciation the PBC median will surpass $400K yet again this month.

Linda desperately does not want us to know that. She did a masterful job weaving the statistics around that fact.

Amazing, but regardless prices are rising as we speak.

By maxmoose03@hotmail

January 26, 2007 7:54 AM | Link to this

It’s official, guys.

Your “crash” in 2006 was a whopping 1% in prices December YOY.

Yellow journalist Linda Rawls still finds a disaster in that : “Homes Sales Dive” or whatever nonsense, choosing to concentrate on volume, which no one cares about, instead of price, which everyone cares about.

By TANC

January 26, 2007 8:50 AM | Link to this

Silly is certainly one way to describe those inventory numbers….

By Mike Fink

January 26, 2007 9:21 AM | Link to this

Again, please show me where prices are rising, because it most certainly is not anywhere I am looking. Median price has increased, what about same home YOY sales (which are rather hard to find). I would guess that if you bought last year at this time, and sold today, you would be looking at a 10-15% loss (before the trasaction fees).

Anyway, that’s not what I was hear to write about. The sub-prime market is having some really big problems, and Wall St. is starting to lose their taste for these securities. End of easy credit will be the end game for the housing bubble (on a national level). Credit fueled the bubble, and credit will destroy it (well, the lack of lending by psychotic standards) just as quickly.

Using traditional standards, with a 20% downpayment, you need to make 200K/yr to buy a home that costs 600-700K. Look around your developments people. Do you think that your neighbors are making 200K and driving a 8 year old Ford F-150? Of course not, many people who bought in the past 5 years are in WAY over their heads.

This is a credit bubble first, housing bubble second.

http://www.nytimes.com/2007/01/26/business/26mortgage.html?_r=2&adxnnl=1&oref=slogin&adxnnlx=1169814336-NgecX7pmlyCHKADk+rz/8g&oref=slogin

By fact

January 26, 2007 10:13 AM | Link to this

Median in DEC 05 was $408,200 in Dec of 06 it was $368,200. -10% drop. Not 1% please see

http://media.living.net/statistics/2006/Dec%2006%20Sin%20Fam%20Ex%20Chart.pdf

By cw1900

January 26, 2007 10:18 AM | Link to this

Mike Fink, you and agree on one thing and we both know what it is. The credit problem is huge nationwide, and it is getting worse daily. It has much to do with the problem. It is not debatable. That is easy to see. The person who pasted in some blurbs from the book “The Millionaire Next Door” was pointing out the credit problem in an indirect way by showing how people try and look rich. Everyone should read that book. All they are doing is putting it on plastic and not paying it off. Rich people do not do that. The people who are trying to look like something they’re not are fools and it’s no wonder they can’t afford their mortgage payment and have to put their homeowners insurance on a credit card. I don’t think I’m going out on a limb by saying I would bet over half the people who read this blog on a regular basis have at least two of the following; heloc, 2nd mortgage, unpaid balances on a multiple credit cards, one or more car loans over 3 years in length, one of more car leases….All of these are very foolish and you all know it, and what else am I missing. I have zero of the above. I’m not bragging, far from it, I’m just pointing out it is possible in today’s America to live on less than you bring in each and every month. It can be done and it is easy on any income level.

That’s why I can get pis$ed about the following, but can still pay it with no problem.

I rec’d my homeowners insurance renewal on my primary residence yesterday. I wasn’t shocked as I expected it for awhile. What I am is pis$ed!! It went up 74.8% this year, up from 20.3% the year before, and up 36.8% the year before that. That is a problem. Not only that, I know for a fact I’m underinsured on that home, and I’m afraid to open up a can of worms. I’m thinking I’ll take my chances.

In the end, it is proving my point about the toilet flush of Florida. Like it or not, and don’t yell at me, I just call ‘em like I see ‘em. The fact is higher costs are a drag on the people who cannot afford to live here anymore, the ones who were already close to the edge of the cliff anyway and now they are finally being pushed over, or in this case, being forced out of the state, or at least forced out of the county. That may be me someday, who knows.

The toilet flush in Florida is simple. The people, on average, moving in are more educated, more monied, and more cultured than the people moving out of state. That is fact. Most of us agree with that. Deal with it.

Max, thanks. I loved the quote, “What do you gain from working? (Possibly) freedom from hardship. What do you lose? Your life — that is to say, the lifetime you might have done something with. Nothing wastes human potential more than everyday, normal financial need.”

I’m keeping that. I like it. It’s true.

Where are the numbers showing month over month median price, from oct 2006, nov 2006, dec 2006? what are they?

cw

By Rich R

January 26, 2007 10:23 AM | Link to this

The whole median price thing is alittle twisted.

As half of the homes sell for more and half sell for less, that’s nice.

But,

Based on the current market conditions, you may find that a vast majority of the sales are occuring in the upper price points.

Working class is priced out of the market, and the ones buying are folks that buy at higher prices.

So, when you have most of the activity in the upper markets, you have a move in the median price, but driven by a specific market segment and in my opinion will maintain or even increase the median price, as the values in the lower market continue to drop due to unaffordability.

Take 100 buyers with 75% looking in the $750+ range, then the 25% looking in the $300-400K range.

When all 100 buyers close, you have a much higher median price. Very misleading for sure.

And even with this senario playing out, there was still a decrease of over 10% for the year.

Take a look at some listing with extended DOM, you will find price redcutions that go much more then 10%. And then there are the incentives, and that whole game.

Nowhere near the bottom.

Just my opinion.

Ok, bashers it’s ur turn.

By What is with the Numbers?

January 26, 2007 11:01 AM | Link to this

I looked at two different numbers yesterday on the median prices in Palm Beach County.

Like A.P. said, “what are we missing here?”

I believe it is one big game that the Palm Beach Post and the local realtors assoc. are having on the buyers and sellers.

I know one thing for sure, ther are realtors listing condo sales as single home sales to the county appraisers office. This would not show the true higher median price we should have here.

What is going on here?

Palm Beach Post not printing the truth?

We all know that would not be the first time!

BTW, buyers are finding out of all those hidden bank fees that these foreclosures have. I warned you people before about that!

CMGR - you might be right about the $500k median price by this time next year.

Linda Rawls is one of those reporters who wants to make a big splash on a news story. Ms. Rawls would report seeing flying space ships flying over Mizner Park. Only it turns out to be some paper plates flying around at a picnic. Who knows, she could have been working for Bush on giving him the report on WMD’s in Iraq before working at the Post!

Bob Seger, I like his music. Old stuff was better than his new stuff.

Mike Fink, are you still in town? I thought this place SUCKED to you? What happen, wheel fell off of your u-haul truck? Or do enjoy putting your pennies on the tracks next to Evergrene? I know, you can’t move away from your favorite pasta eattery.

What is with this Fair Housing story?

Did I miss something?

Maxmoose, are you involved with a lawsuit? Something you are not telling us?

HOTTY, with the Post telling all these negative real estate stories as we all know, there will be no one around to read them later on. Who will be around to read or advertise the Post then? I think the next big headline will be the Post laying off hundreds of workers.

The Housing Season is on……the next five months will drive the market for 2007.

I like to make my official pick for the Super Bowl in Miami. After looking over all the stats, players profiles, hearing from the bookies, hearing from my priest in Vegas, looking at how the stars and planets will be arranged next weekend……I am picking the MONSTERS OF THE MIDWAY. The Chicago Bears.

easyasabc

By Twisted

January 26, 2007 11:38 AM | Link to this

Now Rich R. is saying the numbers are being twisted for having more percentage of higher price sales. If that is so, then it is not about house cost, but land cost. The land is worth more than the house in various areas. Look at El Cid area, it is not the houses that went up in price, but the location. Rich R.’s 2/1 cesspool house would get more money in El Cid than in Lake Worthless. The people in the northend ghetto of WPB are sitting on a gold mine. Every developer and politician knows it.

If the median price is going up for higher cost homes being sold in Boca and Jupiter, it will bring up the price of all those cesspool homes in Lake Worthless. The median price affects the market across the board. What someone who could afford $300k home in 2005, cannot this year because it is $450k. Not our fault if they did not buy back in 2005. While the owner who is waiting to sell, is picking up more money if they want to sell in the Fall of 2007.

There was a strip of farm land off of Prosperty Farms Rd. that sold for $400,000 during WW II era. The land sat undeveloped for years. Homes built there now are worth millions today. The developer built over 100 homes and still have more open land.

What some of you see as over-priced homes today, will seem cheap later on in life. It is one big “Domino” when the prices go up here. Pay now or pay later as the guy on the radio says. The ones who want to pay later, will be priced out for good. The folks who do own and who sell out later, will make even more money.

Patience pays off for all who are selling at the end.

easyasabc

By crazydem

January 26, 2007 11:38 AM | Link to this

FINK/RCA/RICH R/LOW RENTA/STEVE’s GAME PLAN FOR 2007

Title: “Sideliners Great Hope for Alignment of the Housing Stars”

Hope government lowers taxes

Hope government decides to give back money they’ll already taken and spent

Hope government capitulates and starts building affordable housing

Hope government will adjust measure of housing affordablily downward

Hope those lazy HUD workers will wake up and start putting some of that money to work they are sitting on to build new affordable houses

Hope elected officials will stop taking kickbacks from developers to push through high-rise condo buildings starting at $450k for a 1/1

Hope insurance agencies start playing nice

Hope insurance agencies adopt nicey nicey business model that doesn’t produce a profit from their premiums

Hope sellers will be ameniable to lowering asking price

Pray that median stops going up

Ask landlord not to increase rent

Keep saving for that down payment on the gated community home with a pool and granite

Stop eating pasta in cityplace for $30 a pop

Hope OPEC opens the taps so gas price goes down

Hope Condi works a deal with the Saudi’s to lower oil prices

By Related in Muzik

January 26, 2007 11:43 AM | Link to this

You’ve gone to the finest school all right, Miss Lonely

But you know you only used to get juiced in it

And nobody has ever taught you how to live on the street

And now you find out you’re gonna have to get used to it

You said you’d never compromise

With the mystery tramp, but now you realize

He’s not selling any alibis

As you stare into the vacuum of his eyes

And ask him do you want to make a deal?

By interpreted

January 26, 2007 12:17 PM | Link to this

You’ve gone to the finest school all right, Miss Lonely - MAXMOOSE03

But you know you only used to get juiced in it - EASYASABC

And nobody has ever taught you how to live on the street - REALIST

And now you find out you’re gonna have to get used to it - MIKE FINK

You said you’d never compromise - CW1900

With the mystery tramp, but now you realize - INTERNET MADAM

He’s not selling any alibis - RICH R

As you stare into the vacuum of his eyes - CRAZYDEM

And ask him do you want to make a deal? - CMGR

By to "Related in Muzik" and "interpreted"

January 26, 2007 12:53 PM | Link to this

Brilliant. Bravo.

Short and Sweet.

Our cast of characters defined. So many more, so little adjectives

By EazyAsABD

January 26, 2007 1:33 PM | Link to this

A realtor stole my bike!

By wake up

January 26, 2007 1:40 PM | Link to this

Ripped from FW:

We would like to report that the market has, for the twelfth time in the last 6 months, in fact hit bottom.

Please ignore the huge supply of unsold new and existing homes.

Please disregard the massive increase in foreclosures.

Please be blissfully ignorant of the sub-prime meltdown.

Thank you for your gullibility.

The time to buy and invest is now.

Flip away. Housing is a great investment. -UKOK

By crazydem

January 26, 2007 2:04 PM | Link to this

RCA/FINK/STEVE/WAKE UP Amended 2007 Wish list:

Hope for minimum of 3 hurricanes to make landfall in Florida, at least two of which PBC must be within one standard deviation of the center of the cone of probability upon landfall

Hope for mortgage lending meltdown

Pray Fed lowers rates

Pray market drops 4k points so Fed can lower rates with straight face

Keep fingers crossed for increase in delinquencies leading to tighter lending standards

By crazydem

January 26, 2007 2:12 PM | Link to this

Note to 2007 wish list committee:

Would someone please contact the Wall Street Journal and Reuters International news service and ask them to withdraw their headline today? It says, and I quote, “New-Home Sales Show Strength.” Inform them the Linda Rawls has got the story covered, thank you, and they can stop posting such factual articles. The Post ran front-page, top line headline regarding the “dive” of housing into the outhouse. Someone needs to educate the WSJ and Reuters journalists about what’s really going on. Steve can you take care of this on behalf of the Sideline Committee?

By easyasfuk

January 26, 2007 2:40 PM | Link to this

Sales of existing single-family homes in Palm Beach County last year showed their sharpest annual decline in more than a decade.

Palm Beach County’s 37 percent decline in single-family resales in 2006 was second only to the Naples area, where existing home sales fell 41 percent.

Statewide, sales of existing single-family homes fell 28 percent.

Condominium sales in 2006 also declined across the board, falling 28 percent in Palm Beach County, 31 percent in the Treasure Coast, 33 percent statewide and 10 percent nationwide.

Live is… OK in Palm Beach.

easyasfuk

By Realist

January 26, 2007 2:44 PM | Link to this

Three major moving companies are taking more people out of the state than into it. Also check out the demographics of the people leaving (middle and higher income).

http://www.sptimes.com/2007/01/25/State/Domovingstatsshow.shtml

By Realist

January 26, 2007 3:00 PM | Link to this

It is even worse than I thought. Uhaul moved more people in than out!! Well so much CW for your theory that people with “money” are replacing the have nots.

By Realist

January 26, 2007 3:02 PM | Link to this

It is even worse than I thought. Uhaul moved more people in than out!! Well so much CW for your theory that people with “money” are replacing the have nots.

By WSJ

January 26, 2007 3:22 PM | Link to this

From WSJ :

Housing Glut Gives Buyers Upper Hand

By James R. Hagerty and Ruth Simon Word Count: 1,986 | Companies Featured in This Article: D.R. Horton, Bank of America, Credit Suisse Group

“Amid a continuing glut of homes for sale in most of the country, buyers should have plenty of choices and lots of bargaining power in the spring selling season — typically the busiest time of the year.

Many builders and real-estate brokers, for their part, hope the housing market will start recovering this year as buyers respond to price cuts and other sweeteners offered by increasingly nervous sellers. In some markets, agents say, buyer traffic has picked up in the last month or two.

But any recovery is likely to be gradual. Donald Tomnitz, chief executive officer of D.R. Horton …”

By crazydem

January 26, 2007 3:34 PM | Link to this

Realist-You really think people with money are driving their furniture around in U-Hauls?

HA HA HA HA HA HA!!!

By Realist

January 26, 2007 3:40 PM | Link to this

No crazydem that is my point! Have nots moving in the haves are moving out with paid movers!!

By crazydem

January 26, 2007 4:34 PM | Link to this

Probably the half-backs driving down from NC and New Jersey to pick up their furniture. Cheaper to rent a UHAUL coming in than going out.

By George

January 26, 2007 5:47 PM | Link to this

George is getting upset!

Have a Kalik on me this weekend!!!

By Mike Fink

January 26, 2007 7:32 PM | Link to this

I would just like to add 2 quick things.

First off, for the love of everything holy, please STOP comparing me/confusing me with someone who hates this area. I love it here, I don’t want to leave, and I have never said otherwise. I bash the RE bubble, which is really a national phenomenon, but more so here. That does not mean that I don’t love PB. I do, I have never said otherwise. Yes, it has its problems, (RE being just one of them), but I am an educated professional, and if I did not like it, I would leave. I moved here from another area, not for a job, but because this is where I wanted to live.

CW: I know we agree on the credit problem, but disagree on the housing situation. What scenerio do you see playing out where the sub-prime market implodes and housing prices continue to rise? If traditional lending comes back into vogue (30 yr/20% down fixed mtg, no more then 3X income for loan amount) I think that spells the end for the housing bubble. I just don’t see any way it can continue if those standards come back into play. What do you forsee happening that tightens lending, but allows home prices to continue to rise?

By Mike Fink

January 26, 2007 7:35 PM | Link to this

CW:

I know we agree on the lending issue, what do you see happening if lending standards tighten up again (20% down, no more then 3X income, 30yr fixed rate) that will allow the prices to continue to rise? The income level here does not support it, not even by a long shot, but I am curious as to where we disagree.

BTW, for all the people who are confusing me with somoene else. I never said I did not like FL, I love it here. I have never said that I wanted to leave, or halfback to another area. I just want the housing situation to improve for those of us not lucky enough to buy 5 years ago. :(

By maxmoose03

January 26, 2007 9:04 PM | Link to this

CW: I am flattered if anything I said turns out useful to you. But…maybe that’s why we’re on this blog….hoping to give as well as receive.

Now CW, Fink, maybe even TANC and CrazyDEm want in, you guys can help me:

Despite all the baloney from “Price” and others in here, I just turned down 2200/month annual to rent out a house I own (about 2K sq ft under air). Leaving aside for the moment my indiscretions with HELOCs (YES, my g/f needed a $300 dance outfit. YES, we needed a $1300 puppy, YES she needed a red convertible), does it sound like a market rent for today?

By maxmoose03

January 26, 2007 9:19 PM | Link to this

Clairification: it was actually my g/f who needed the convertible, not the dog, and before the obvious jokes are made, the g/f is quite attractive and not a dog. (I used the word “attractive” instead of “fetching.” Linguistic traps are everywhere in English).

The dog prefers to walk. On the other hand (paw?), he likes to be driven around town with his head sticking out of the window and his tongue hanging out at all the pretty girls.

OOpps — wait a minute. That’s me I was thinking of.

By .

January 26, 2007 10:08 PM | Link to this

Why don’t you stick your a$$ out the window instead. That’s the more attractive end of you and you know I know that from personal experience.

LOL

By maxmoose03

January 26, 2007 10:13 PM | Link to this

Careful Dot, Someone like me might take that as a compliment.

Beside, you will give some people here heart attacks with such information.

By rca

January 26, 2007 11:22 PM | Link to this

back in south florida.

oh my GOD! can you say HAIRCUTS.

went to boynton beach (avoid the mall) and that monster on congress and gateway. how many units are selling in that monster.

then on lyons-31st street. condos for sale in every complex we saw. then downtown fort lauderdale. i count 10 cranes + the monster that is going to replace river walk. then there is gozilla in the hood. the new lauderdale lakes center. not even built yet, but asking for 300,000? in the hood?

then we go to miramar and the new town center. canals and shops and condos everywhere.

finally downtown miami.

who in the hell is going to buy all of this crazy units. with that little tap on the hand by your governor to the insurance companies, they are still kicking butt with loot and the fight between pbc property appraiser and county commissioners. one corrupt commissioner going to jail over land deals. and people say that pbc is not miami. i guess pbc is corrupt after all. ha, ha, ha.

losers time and time again. the prices are too high for the cardboard houses that nearly collapsed from a cat 1. million dollars homes with roof damage. can we say miami dade building code for pbc and broward.

so much blood on the streets and so much KOOLAID drinking.

change the name of south florida to jonestown.

finally, i heard that more people are moving out than in. 1000 people a day move to florida, a thousand move out.

when i own acres for less than a zero lot, guess who wins. then i can build 5 to 10 more homes with 1/2 acre lots anytime i want, can we say (south florida bag holders)

so you skirts and cheerleaders, dont cry or worry. just pay up. YOU PLAY RICH, YOU PAY RICH LOSERS!!!

By maxmoose03

January 27, 2007 12:10 AM | Link to this

Imagine being RCA.

Imagine riding around pointlessly, barely being able to afford the gas you are consuming, and looking with wonder and confusion at things around you.

Everywhere, people are building. People are shopping. People are working and playing, building the future, looking forward with optimism.

But not RCA.

RCA’s tubes burned out inside him long ago. For him, there is no joy, no expectation, no yearning to see what the next day brings. RCA is dead inside.

And the only joy that RCA can feel is to hope that somehow, someway, everyone is making a mistake. All those people running around, keeping busy, living their lives — they’re all making a foolish mistake. They should be dead inside, like RCA. And if RCA can convince himself that they are all mistaken, maybe he doesn’t have it so bad.

Unfortunately, all those people enjoying Florida don’t know RCA. They don’t know how he suffers and struggles, and they would probably not care.

After all, they finished with characters like RCA the last time they read a poorly translated novel or play by Jean-Paul Sartre.

So there he goes, a shadow being, calling the winners losers, dreaming of outdoing the living at their own game, dreaming of the catastrophes that could befall others.

Now stop imagining. Go out and live, because it feels good, and you have no fear. You are not like RCA, trapped in a private hell with no exit.

By Mike Fink

January 27, 2007 11:12 AM | Link to this

Is anyone here familiar with the Landmark at the Gardens? I am totally perplexed by this development. Why would anyone in their right mind spend 1/2 mil + to live in the parking lot of a shopping mall? I am not sure why this would even be considered a “good idea” but am curious as to what others think.

At the prices they are asking for the nicer units, you can definately get a condo on the beach (a nice condo on the beach), and I would see that as their main competition. Downtown can’t be much of a draw for people with that kind of money…

Anyway, I would like to hear others ideas about this.

By maxmoose03

January 27, 2007 12:33 PM | Link to this

Mike Fink: Malls are the place to go for most folks, for shopping and entertaintment. At Sawgrass, people fly in from South America and check into one of the hotels around the mall. They buy tens of thousands worth of stuff, and they’re gone again.

In PBC, more of a local crowd, but they still love those malls. As an investor, one of the first places I would look to buy, along with downtown and the ocean. People moving to Florida now don’t want to be bored.

Now FINK - scroll up and answer my question about rental on house. This area is absolutely teaming with renters, I have 3 appointments on my own places today.

By Jim Beam

January 27, 2007 1:44 PM | Link to this

It has certianl picked up, put a condo up for sale and and sold in 12 days close asking price. One of my rentals just came up for rent and the phone has ringing like crazy.

By John (Boynton bch)

January 27, 2007 2:53 PM | Link to this

In talking to a realtor friend from Coldwell Banker here in Boynton, she stated that the market is only selling at the high end. Anything less than 600K is not. She has many houses just sitting (200K to 600K) She state also that alot of her buyers over the past couple years took out ARMS….(suicide loans if you ask me) She told me the story last week of one of the many houses she has, the deal well went through after the clients said they wanted the house that had been reduced twice by the owners until they saw an ashtray and said no…Also, Took a ride through renaissance commons and that place is empty! Lots of for rent signs in the windows and empty units…

By Mike Fink

January 27, 2007 3:33 PM | Link to this

Max,

Well, it depends on the area (of course), but yes, in the 2000 sq/ft range, about $1 per sq/ft is about right. 2200 for 2000 sq ft, if in a good location, is a pretty typical rent. You may be able to catch someone though, rents are ALL over the place right now, the home right next to mine is 50% higher per sq/ft for rent (although not rented yet) for exactly the same unit/upgrades. The pricing is pretty scattered (like much of the housing market in general).

Anyway, anything between $.80 and $2 per sq/ft seems to be supportable in FL. The higher the sq/ft the lower the price per sq. The only places I see supporting $2 are in the downtown areas or on the beach, although some people are asking much more.

If your in a hurry, take 2200 and call it a day. If not, try to catch a fool, you certainly may, you can probably come up with 10 comps for your unit at 3000/mo.

I still think living in a mall parking lot for a million dollars is nuts. Just for the record. :)

By maxmoose03

January 27, 2007 4:03 PM | Link to this

Jim Beam - yes, it seems to be getting better.

Personally, I turned down $2200/month for a house rental yesterday, and $1800 for 1br today. I am thinking I am being a little too demanding.

John: can’t think of lower qualifications in R.E. than being just another licensee in a huge chain. All your friend is telling you is SHE is not making sales.

Of COURSE Renaissance Commons looks empty. It IS empty. San Raphael is about the only thing that is complete. It is full of renters, but it is full.

Most of Firenze has not closed yet, or if closed has not been visited by the owner. The Post Office has not even started regular deliveries yet.

Those are very pretty townhouses, by the way, IMHO, and 1 minute from the Mall.

The two builders there are going ahead full steam —they don’t see any crisis. So far as I can see, work is progressing on all the remaining of the 6 communities, plus the office space.

By the way — the condos in San Rafael are pretty nice, with knock-down texture on the walls and ceilings, beautiful dark or light wood cabinets, granite counter-tops in open kitchens, and stainless steel appliances. No, I am not a salesperson for those communities, but I am familiar with a lot of the inventory in PBC.

If people are going to misinterpret what they see when a project is nearing completion, they are always going to think there is a crisis.

By Mike Fink

January 27, 2007 4:09 PM | Link to this

Wow,

Heck of an auction today down at the Hardrock. Let’s just say, lots of people left very unhappy today. And, when the neighbors see the comps you just set, you might have to be under protective custody. :) Most homes right around 40% discount from low of the asking price.

http://search.liveauctions.ebay.com/ws/search/LiveAuctionSearch?GetResult&ccn=Real+Estate&isl=0&getresult=&ahid=14714&frts=0&lc=1&fis=2&sacti=20951

Login required (to EBay) to view the listings (shows all that were auctioned today). Some selected ones:

http://cgi.liveauctions.ebay.com/ws/eBayISAPI.dll?ViewItem&category=28221&item=260072712057

http://cgi.liveauctions.ebay.com/ws/eBayISAPI.dll?ViewItem&category=28309&item=260079123673

Anyway, some good deals offered today, some far below 100 sq/ft, even for new construction. That’s a little more like it! :)

By maxmoose03

January 27, 2007 5:48 PM | Link to this

Fink you break me up.

First of all, in typical Fink fashion, you neglected to read the fine print. No, Fink, you don’t get the house you bid 100K on for 100K, even though you had the winning bid. If your winning bid was under 50K, you are REALLY screwed.

Next, what is the condition of these properties? Did the buyers first receive a material defects list? Were the buyers able to have the properties inspected?

Do you have the right to cancel the sale after inspecting the property? What is your recourse if the property has a structural problem? How about liability for pollution clean-up under the superfund act?

And finally the perennial question that Fink can never answer: If they were such bargains, why didn’t you at least bid on one?

Fink….you break me up.

By Realtor

January 27, 2007 6:21 PM | Link to this

Boy I was just looking at that auction and I sure hope my sellers see how the prices have come down. If we can get these sellers to see what the market will bear we will be back in business!

By Mike Fink

January 27, 2007 7:42 PM | Link to this

Ok Max, most of the time I just ignore your comments, but this time you have me interested. What in the heck are you talking about?

No, Fink, you don’t get the house you bid 100K on for 100K, even though you had the winning bid. If your winning bid was under 50K, you are REALLY screwed.

You have me totally confused. So, if my bid for under 50K wins, I am in trouble? No problem, I just bid against myself to get it to 100K, and then somehow it’s better?

Why didn’t I bid? Well, first, I am absolutely sure that we are in the beginning of the REO auction cycle, and there will be 100’s more like this to come. None were in areas that I knew well enough to really intelligently bid on the properties. And, frankly, I have not done enough research on the RE aution process to be ready to throw 100’s of thousands around like that. Perhaps it will give up a good deal for some of us “have nots” some day, but until I have all the information about the auction system for forclosed RE, I am not ready to jump into that market. Finally, what’s the hurry? We have years of inventory on the market, and trillions of ARMs (nationally) resetting. We are at the beginning on this unwiding, not the end… Time is on my side, not on the side of those looking to sell. Oh, I am sure that the neighbors looking to sell are loving the comps that were set today. Just loving it.

By maxmoose03

January 27, 2007 8:04 PM | Link to this

Mike Fink: I just saw your post on rental, so thank you indeed. My place downtown brings $2 a sq ft without a sweat. The outlying areas aren’t as easy.

Correct me if I am wrong, but it cost $2500 to bid, a 3% “commission,” a 5% “buyer’s premium” and something else that turned a 100K purchase into 110K. The premiums were higher under 50K.

It’s a racket, Mikey — the only ones who make out are the auctioneers.

From the pics, those places were nothing to write home about anyway.

))))))))))))))))

So Mikey - a million to live in a mall parking lot. Well, this is strictly a matter of personal choice. Some folks think living a sprint away from Macy’s on sale days is the greatest thing that ever happened.

Think about this though: An acquaintance of mine, who you have probably seen on cable TV, and his beautiful wife, sold their 2 br condo in LA for about a million dollars.

What kind of parking lot was it it? Supermarket, and the view from his terrace was of that parkling lot. One night, they ineffectually watched one gang member murder another in that parking lot — slowly beat him to death — viewing from their terrace. All they could do was call the cops, and watch.

Well Mikey, I grew up watching shows like “The Millionaire” with Mark Anthony, and “How to Marry a Millionaire.”

A million bucks isn’t what it used to be, young man.

But at least for a million bucks (probably financed over 30 years) — we have that glorious sun, and houses that don’t look out on killing fields.

Life is pretty good in PBC.

By Steve

January 27, 2007 9:47 PM | Link to this

There’s your 50% decline Moose.

By maxmoose03

January 27, 2007 10:07 PM | Link to this

Where is it, Steve? In a few properties with possible time bomb defects, sold at near market value when all is said and done? That’s your decline?

Properties are down 1% for 2006 vs. 2005, Steve. Not a handful of properties, but the real population of properties making up PBC. 1%. Get over it, Steve. You and the rest of the idiots lost. It’s over.

By Steve

January 27, 2007 10:28 PM | Link to this

It’s only just begun, your little condo with armed body guards ain’t gonna be worth near what you paid.

By maxmoose03

January 27, 2007 10:39 PM | Link to this

My little condo?

Which one, Steve?

If I buy a really, really sh—ty one, I will offer it to you and your white trash family to rent. Meantime, enjoy your single-wide.

By Mike Fink

January 27, 2007 10:41 PM | Link to this

Well, I don’t think of it as a lost vs won situation, but no matter how you cut it, we are in the first inning. We have years of inventory; YEARS, to go through. How we get from here to balanced market is anyone’s guess. But to say that the bad times are over for RE. Well, there is just no supportable argument for that statement. Is the price going to go down further? Don’t know, but if it does not, inventory will continue to climb. It will take the builders at least 3 years to slow their operations, we have at least that long before we see any kind of health in the market.

By losers

January 27, 2007 10:50 PM | Link to this

mike, max, steve

bickering over cheap auctions, condos looking over mall parking lots and empty rental units on a saturday night.

find some broads for next weekend for yourselves. you look like a bunch of losers.

By maxmoose03

January 27, 2007 11:25 PM | Link to this

“Losers”: So what are you doing here?

If I want a “broad” maybe I’ll rent your daughter in her 20’s. Your wife is probably too ugly.

The idiots just keep trying.

By Heres my opinion and mine only

January 28, 2007 12:04 AM | Link to this

Hey Rich R. I haven’t posted in a while. Things are great here in Charlotte. I’m loving the 20 degree temps at night. I got to tell you. I agree with your theory about the higher end homes scewing the median price numbers in PB. I learned that peoples opinions are all based on what the media reports. You know, all black and white. “Median price is up” they say. No one looks a why. While median price may have gone up, why aren’t the homes selling? People just don’t get it. the market won’t get any better until income can support a healthly market like in the pr 2000 yrs. I’ve been a mtg underwriter for many yrs and see appraisals from all over the country on a daily basis and follow up on real estate market conditions all over the country so that I may make sound decisions on property values and the only reason for the skyrocketing market conditions from 2001—2005 was due to the short term investors who are now all gone and what happens, market will wither down to what income can support. Until then, prices will continue to fall. Heres what I will tell you though about the mtg lending. It may get a little tighter ( few changes have already been made throughout the lending industry), but not to what some people think it will. I’m amazed to see the kind of loans are cleared to close. Sales people for the lenders, mtg brokers who send them the business, and managers at these lenders who are making killer bonuses on these loans will continue to make bad loans in order to make their money. they claim if they do not the lender will have to close their doors and everyone will be out of work, thus scaring many employees into jumping on the bad loan bandwagon. But they end up doing so anyway. LOok how many mtg lenders have already closed their doors. investors who purchase these loans after they close will not do so and if that happens enough, the lender loses money and the doors close anyway. management and sales execs then move on to another company, make the same bad loans until that place closes their doors and so on. A loan (that I refused to sign off on but management closed it anyway after the sales person and broker complained enough about it) closes with the following profile. Stated loan, police officer, claimed he made 9K per month. 100% financing to purchase a 500K home in Miami, using a pay option arm, more than tripling his housing expense (he said his rent was 900 bucks per month), not married and the broker claimed had no girlfriend, with only 4 credit accts, 1 car loan and 3 other credit cards with a 2K high balance max. Management, sales exec and broker claimed that even though he most likely did not make 9k per month, he should be able to make the neg am payment thus we should make the loan as a “business decision”. Everyone got paid, not me but thats ok. When that loan forecloses, I won’t be contacted for any reason. It wasn’t my decision to make that loan. These are the kind of loans that will help add to the foreclosure problem and will continue to be made. When it comes down to it, too many people make money on closing as many loans as possible no matter how bad they may be and no matter what benefit or what kind of ability the borr has to repay the loan back. Realtor, Sales people, mtg brokers don’t care about peoples well being. Once the loan closes they make their money. Also, too much mtg fraud out there, I see it evey day. Fake tax returns, paystubs, w2’s. Lenders don’t report this stuff to the Feds. If they do, they lose business from brokers once word gets around that they report fraudulant activity. Again, these kind of loans will fuel the foreclosure market and nail real estate values all over the country. Its such a sad thing to see.

By Steve

January 28, 2007 12:50 AM | Link to this

Ahh haa haa, Maxloser has more than one condo in this market. Priceless, no wonder you’re so bitter.

By easyrenter

January 28, 2007 2:30 AM | Link to this

in a few minutes, many rentals easily seen.

WPB City Place Fully Furn. Brand New 1/1,Grt amenities pool. gym. Valet. $1500/ mo. FLS. WEB ID # 6934916

Northwood- 3/2 1850sqft. Granite, Stainless, Wood & Marble, Pool/Spa, 2-car gar., $2200mo Unf; $2800mo furn’d. PB Properties Web ID 7510914

Terracina 4/2.5/2 over 3000sf u/air, W/D, gated, upgrades on cul-de-sac. $2.200 /mo. Option to buy. Web ID 7388728

or browse for yourself at craigslist. :

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

By maxmoose03

January 28, 2007 3:12 AM | Link to this

Steve - As usual, it was too much of an intellectual effort for you to read the above posts. If you had, you would know I was commenting on how amazingly easy it is to find renters today.

I am not sure how you think that my owning condos which you don’t makes me a loser, but I have to remember that you are mentally retarded.

Finally, I am not bitter, I am quite pleased with everything except having to do deal with impoverished morons on this post (DUH — that’s YOU, Steve).

By maxmoose03

January 28, 2007 3:32 AM | Link to this

More wasted space from a mind which is nothing but wasted space.

PRICES/EASYRENTER: What on Earth is your point? That there are apartments for rent? How do you expect landlords to fill their apartments without listing them as available? Are renters psychic? Or just psycho — like you?

Finally, are you recommending that someone throw out $1500 a month to rent a 1 br apartment on the edge of a slum? How about $2800 a month for a house in a gentrifying slum area? Are you out of your mind (don’t answer that -it’s obvious).

Do you realize you have to earn almost 50K a year just to cover your rent???

As a landlord, one thing I do as a matter of ethics is advise potential tenants that renting is not a sound financial policy, IMHO.

By Mike Fink

January 28, 2007 7:37 AM | Link to this

Max,

Yes, you have to earn about 50K a year to cover your rent (not sure about this calculation, but we can use it). What would you have to earn to buy that home? If it’s in NW, I would guess about 600-800K for the property? Which would be a 200-270K income? Ugh, yeah, there’s your problem, the price of the property is totally out of line with the price of the rent for the property.

1500/mo for CityPlace is a bit high. I know people living in One City Plaza (1BR) paying 1K/month. Look around, rents are all over the place right now, and many are not priced appropriately at all. People are trying to come close to covering carrying costs, which is just not going to happen for them. Cityplace should be right around 1.25/sq ft, that’s a good deal downtown right now. Last time I was looking in that market (about 18 months ago), you could not touch anything for under 1.75-2/sq ft. Ahh, as we speak, rents continue to fall…

Max, I happen to agree with you.. You could not pay me 2800/mo to live in NW, I hate that area. Nothing to do up there but get robbed/shot, imho. All the problems of city living with none of the benefits (unless walking to buy drugs is a benefit for you, rather then having to drive).

Max, renting is “sound financial policy” in a market like this, and to argue otherwise is just indefensible. If I had bought my rental last year, I would be down 100K right now, as well as paying 2.5X as much to carry the property. Come on, in a falling market, almost no numbers make owning more attractive then renting. The calculations just do not work when you anticipate the home remaining the same, or dropping, in value.

By craigcurios

January 28, 2007 9:27 AM | Link to this

Never used craigslist before, it does seem very popular with what we used to refer to as yuppies. If the listings I looked at are legit, rentals are plentiful and very competitive. It does appear many owners need help with carrying costs.

It is very easy to sort , i tried rentals between $1,000 and $1900 “Cityplace”. returned over 100 listings just at this one site.

http://westpalmbeach.craigslist.org/search/apa?maxAsk=1900&minAsk=1000&query=Cityplace

Why do I think there will be immediate disparagement of listings, craigslist, and any other inference of prices not “rising as we speak” ?

By maxmoose03

January 28, 2007 10:08 AM | Link to this

Mike: I am truly mystified when you talk about a “falling market” — at least in PBC.

Where do you see this falling market? In a 1% decline (not statistically significant, BTW) between total 2005 and total 2006?

Mike, once again, I ask you to look at the current transactions on this web site — almost everybody is making big money - TODAY. People are offering me personally rents I can’t believe - and I’m turning them down (YES, I know I may live to regret this). There is no question the rental market has never been so rich, at least down here in Boca.

When I read what you say carefully (probably a mistake to do), you seem to be talking of your EXPECTATIONS of a falling market. But there is a wide gap between your prognostication and “sold” price reality.

Sorry Mike, but you have to show me some responsible figure showing that ON AVERAGE, homes today are closing for less money than a month ago, or a year ago in PBC. It just isn’t true, Mike.

And, being in the business, I have a crystal ball that you don’t. I know what the sales prices were in units that will close in the next few weeks or months, in Firenze, in 200 East, and on and on. We are talking about prices that would be very difficult to overcome if you are looking for a downward trend, Mike.

You know I am loathe to predict the future, Mike, but I have already previewed the prices yet to hit the county books, and they only go one way. I hate to say it, but:

PRICES ARE RISING AS WE SPEAK

By Mike Fink

January 28, 2007 11:15 AM | Link to this

A little recap of how things played out in past bubbles. This should all sound eerily familiar (on the buildup side anyway).

This situation was common in the go-go days when the S&L’s blew up. Like today, lots of “investors” (flippers) thought they could make easy money. Builders would build a house, a bank would finance it, a realtor would sell it and all would cash in. The builder put the deals together and often agreed to pay the interest on the loan until the house was done. The “investor” put in a tiny amount of cash-maybe $5,000-and borrowed the rest from the bank. The bank charged a lots of fees and a fat interest rate. The builder drew down on the investor’s loan as work was done and paid his subs. The house was finished and quickly sold. Everyone went away happy–at least in the house flipper fairy tale. In reality in most deals that go bad, the builder sold the investor a lot for more than it’s worth and built a cheap house on it. The bank, anxious to make money, advanced money to the builder and never verified that the work was actually done or that the subs were paid and added it to the investor’s loan balance. Often, somewhere in the process, a crooked appraiser put a high value on the deal. When the music stopped, too often what happened is that all of the subs who weren’t paid by the builder filed liens on the property and refused to do any more work. The investor got lien notices and the bank finally figured out that someone wasn’t following its procedures (at best) or was on the take from the builder. The builder went BK, leaving the investor with a half done house that had more liens against it than it was worth. The investor went to the bank to find out why the liens have been filed when the bank supposedly advanced funds only after work had been completed. Getting no good answer, he renegged on the loan. The bank threatened to foreclose and the investor, in turn, sued the bank for negligence and fraud. Meanwhile, the real estate market imploded because it had been supported by ever escalating prices caused by greedy flippers playing chicken. Finally, realizing that the game was over, the remaining flippers tried to sell their houses at the same time and real buyers, who actually want to live in a house, took their time because of the massive glut and falling prices. The market took a year or two to adjust back to balance. In bubble markets in TX and AZ, values were cut in half between the peak and the bottom in the mid-to-late 80’s. The banks ended up with a lot of property that declined in value and suffered big writeoffs as its regulators swooped in. Any good bank staff left because their work environment became hell and any options they had were worthless. Depositors with any amounts that weren’t covered by FDIC insurance bailed out. The bank regulators, who should have been on top of the situation, came down hard on the banks and any loan that was questionable was required to be written off. By the end of the deal, the banks charged off a big chunk of their net worth, the best people have left and the regulators had permanent offices in some of the banks. If there was anything of value left to the franchise, another bank bought it for a low-ball price, with the regulators’ blessing. In my opinion, there is fraud involved at several levels in the Coast situation. The real book value is unknown given the potential losses on the loans in question (and probably on a bunch more that haven’t been disclosed yet), but it is certainly much less than what was stated at the end of the third quarter. The bank hasn’t made a profit in the last three years. In that same time, there have been three CEOs and a revolving door of lending people. Most of the bank’s offices are leased and despite the fact that the market area is good, most of the branches are one’s that other banks shuttered. All-in-all, traders can make some money in this stock if they don’t get greedy, but I think the bank will be bought by another bank for a price of less than $8.

By craigsisfun

January 28, 2007 12:32 PM | Link to this

This craigs list site is interesting mix of scams and deals. I verified a few, anyone thinking of buying or renting should browse their listings. As with ANYTHING or ANYONE involved with SoFl RE - CAVEAT EMPTOR.

http://westpalmbeach.craigslist.org/rfs/258303448.html

http://westpalmbeach.craigslist.org/search/rfs?maxAsk=500000&minAsk=250000&query=West%20Palm&s=100

By maxmoose03

January 28, 2007 12:49 PM | Link to this

Mike Fink: You speak about the RTC debacle like someone who read about it on the Internet years after the fact.

The RTC problem was brought about mostly by massive fraud. One of the key players was Neil Bush, brother of your esteemed President. He was found to have huge culpability in the Silverado S&L disaster, yet because of his pedigree, got off with a half-million dollar fine and never served a day of jail time.

Another Bush brother, Jeb, specializes in stealing Presidential elections. Yes, as Governor of a Southern State, he has gotten his hands into everything, even local PBC projects such as the Blue Lake deal. Exactly how much mischief he made may become apparent now that he is out of office.

But enough of America’s biggest crime family, the Bush’s.

The point is this is NOT the RTC scandal all over again. Even in the RTC days, the whole thing passed with no lasting effects.

That is not to say fraud is not a constant factor in florida business, especially banks.

How about the Bank founder who won over 10 million dollars in a medical malpractice suit, claiming he could never work again, and then went and opened the fastest-growing bank in Florida history? Did the DFS ever question him about that? Probably not.

There’s a little tidbit the public doesn’t know about. Hey Jeff — there’s a story for you.

By Numbers Game

January 28, 2007 9:05 PM | Link to this

Here’s how you should really look at this market crash:

The median SFH peak on Nov. 05 was 421,500. Assuming 3% inflation, the current median should be about 434,000.

However, the December median SFH was about 368,000.

That is roughly a 15% drop in price, adjusted for inflation.

And if the above posters are right and the true credit crisis hasn’t hit yet, then this drop will only get worse. Foreclosures are increasing, volume is nonexistent, and all those interest only arms are going to reset. This time next year we’ll be looking at a median of 315,000.

By To Numbers Game

January 28, 2007 9:25 PM | Link to this

The median price for December is $384,700.

By maxmoose03

January 28, 2007 10:02 PM | Link to this

I am sure there was some day in November, 2005, following the hurricane, when the median price was 450K. Maybe there was an hour when it was 500K. You missed your chance, “Numbers Game” - maybe the “crash” from a certain Friday in 11/2005 to a certain Wednesday in 12/2006 was 30%!

These slice and dice numbers are as stupid as the posters that propagate them. Measured over a meaningful time period, like a year, there was no drop at all between 2005 and 2006, and prices are rising. There is no “crash” - there is not even a decline. For about 2 months people started being more realistic with their asking prices. If you blinked, you missed it.

Mike Fink:

OK Fink, thanks to you I relented. I signed a lease for 1800/month for the 1 br. — over the $2/sq ft that you suggested.

That’s the second of my units leased out in the past week or so. This is reality. Still the numbskulls will claim there are apartments
“begging for tenants.” What is their basis for this? That apartments are advertised in classified ads or on craig’s list for free.

Incredible how stupid some people are. It really, really is incredible.

By John (Boynton bch)

January 28, 2007 10:08 PM | Link to this

The median price for the month of December 06 was 368,200..December 05 was 408,200 Everyone is looking at the “year end” price of 384,700 thinking its the December 06 median price. That is the median price of all 12 months during 2006. I think the median will be on around 300K by August. After all the school district is losing 150 kids per week to other areas/states.

By Steve

January 28, 2007 11:38 PM | Link to this

Good point John. No more building portables for classrooms.

Moose, as Jim Cramer would say, you are in THE HOUSE OF PAIN.

By maxmoose03

January 29, 2007 12:17 AM | Link to this

John - This is the same John that didn’t understand why Firenze is empty — because most of it hasn’t closed yet?

Sorry John, as tilted as this newspaper is, I still take their figures over yours.

Hey Steve — I don’t understand why the fact that you are poor and I am not puts ME in the house of pain. Care to explain?

Steve = poor. Max = not poor.

Steve = stupid. Max = IQ 3 z-scores above the national mean (CrazyDem, at least, understands standard deviaton.)

Steve = uneducated. Max = intermittent college teacher.

Hmmmmmm. Specialty of House of Pain is minced Steve stuffed with crow. Now being served, for all of Steve’s execrable lifetime.

By stevethewindowlicker

January 29, 2007 8:21 AM | Link to this

I see Steve the shortbus riding window licker is still here. Move on you waste of space.

By to john in boynton

January 29, 2007 9:43 AM | Link to this

the median home price, you mean in methville boynton will be at 300k, that’s a realistic number for an area of such little substance.

By Steve

January 29, 2007 7:01 PM | Link to this

You keep saying I rode the short bus but I can assure you I’m not interested in having relations with your momma.