By cw1900

January 29, 2007 11:40 AM | Link to this

Good morning all,

Just a little perspective for all of us, for all the cheerleaders and all the doom and gloomers.

I had a relative, his wife and family down for the weekend from the Des Moines, Iowa area. They are down because of business today and tomorrow in Miami. He is a successful small business franchise owner that I’m guessing has a household income of upwards of $250,000 -300,000 per year. He is involved with some small commercial real estate ventures as well.

After the business, they will head over to the west coast and look at real estate in the Sarasota area. They are tired of the cold and are looking for a condo in the $300,000-$400,000 range to have for occassional use for the next few years.

Enough of background. The Bottom line here.

Everytime he comes down (at least once per year), he is always amazed at how reasonably priced real estate is and how low our taxes are, and…….remember I told you last week I rec’d my insurance bill for my homeowners renewal and it went 70 something percent. When I told him the amount of my insurance bill, he didn’t even blink and thought it was fairly reasonable. My homesteaded tax bill on my primary residence of $4500, he laughs and said up there the equivalent house would be paying $10,000 - $12,000 per year in property taxes. He reminds me of the Iowa State Income tax, too, and the high cost of automobile registration of hundreds of dollars per year. Imagine the ruffled feathers we would have here if we had to pay $300 to renew our vehicles.

As many of us have said here countless times. It’s all in one’s perspective. People from the north, even with our price appreciation in the past few years, and the higher bills, and the high insurance costs, still laugh at how cheap we can live down here, and still sat at a table at the Square Grouper looking at the Jupiter Lighthouse in t-shirts and shirts while my wife and I have sweatshirts on, and reminded us of the snow that is covering their area at home.

They loved it. They loved the weather.

That ought to rile up the doom and gloomers this morning.

cw

By Rich R

January 29, 2007 11:51 AM | Link to this

Cw,

if you they had 26,000 freinds that thought the same way.

Shame they don’t.

:(

By jessie

January 29, 2007 12:07 PM | Link to this

no sorry

That story makes me sick about $300000 income and drinking alcohol at some restaurant when I’m trying to figure out how to pay my taxes that are $2254 this year and my insurance is almost as much. How are we supposed to make it? I have two kids in school and theres car payments and groceries and everything. Some of you make me sick. You know what I did on Saturday night while they were wooping it up watching megayachhts go by.? I was doing laundry and eating pizza and my husband and I watched a video that Blockbuster. That’s how real people live Mister Cw19000 and your rich cold country relaitives. Working class people can’t get fair shake here and we can’;t wait to move. We would like to move to Macon Georgia if we can find good work .I have some relative there who moved there about 5 yeers ago and everytime we go visit I am jealous.

not making it in wpb

By cw1901 - 1 better that 1900

January 29, 2007 12:23 PM | Link to this

to cw1900,

You forget the people with the AK-47s have cars and are coming to your ‘hood’ soon.

By Signed

January 29, 2007 1:01 PM | Link to this

“I’m tellin’ you woman, I ain’t caring how you don’t like dominos pizza. me and my boys are goin’ muddin’ in da’ mornin’ and you figure out how to pay the mortgage payment. i have to give cash money on Tuesday at the car place. You know woman, did it ever occur to you that I got a $600 truck payment. The mortgage can be late.

Cooter Jr and Brandy can wear their shoes until next year. I can’t let my truck payment get on late times. What will the guys think? And stop your yakkin’. My brother up in Macon will have me working at the junkyard haulin’ scrap in no time flat. You think we can sell this place for $185,000 even with the blue tarp still on? I mean if we sell it by ourselves, we can probably get clear 3500 bucks cash money. we could rent your mother’s old single wide for a whole year on that. We’ll be sittin’ pretty!”

Signed,

Jessie’s old man

By easyasabc notes

January 29, 2007 1:22 PM | Link to this

Happy Monday from sunny and cool South Florida. Only six days until Super Bowl Sunday. Sorry, I do not have tickets. I rather watch the game on tv, eat my own food, go to my own bathroom and not have to pay $50 to park my car. Most of you who would like to spend all your money on over-priced tickets, food, drinks, parking, etc., are the ones who complain about the price of houses, taxes, insurance here. People who have money, are not wasting it.

Let start off with this argument that has been going on here for sometime on a certain person…..Can we all agree that “steve” is a waste of time & space on this earth. He will never buy here. People, please ignore this guy and he will go away (hopefully to Iraq to clear land mines). He could not even buy a stick of gum. He is only mad at life because God short changed him by 70%. I notice someone told him he was a loser on saturday nite. I have to agree with that and Max, you should be ashame of yourself trying to buy women and talking with steve and I also think with Mike Fink. I have to go back and read that again. Max, don’t you know almost all successful realtors don’t have to pay for their women. Unless you are not selling, your wife is not giving and you are begging. I know why steve is writing, but why are you? I am telling you, you are turning out to be like Rich R.

Mike Fink, I do have to agree with you about the condo prices near the PGA mall. You can have an ocean view if you did buy higher up. But to look at the top of a mall roof and a parking lot for a million plus is crazy. But you would have to agree with me that if property like this is at high price, it will make the average, expensive, and poor area locations go up as well. All based on the “Domino” theory. You think developers will be dropping their prices because of what some guy says from a Pa. research firm? Let them go dance the Pennsylvania Polka at their local VFW hall as we sit here in the sun in Florida.

Sure, some developer will offer someone an updated coutertop to a home or condo unit near close out. But that developer might have sold that unit or house several times over while keeping the deposits from failed buyers.

Trust me, developers/builders never lose. They can say anything they want in their quaterly reports. These people have made their money and are keep on making it by having rental devlopments. Oh yes, the renters are paying the price to keep developers afloat. See, they get your money one way or another.

CW, I have to tell you how I am hearing about “half-backs” who are STUCK in NC. The word up there as I have told before is that NC hate people from FL. They want your money, but get the hell out of town asap. More likly, you get a pie in your face if you are from FL. Half-backs want to return here, but can’t due they cannot sell in NC. No profit making in homes in NC.

There are two median prices floating out there by the media. I myself saw the $364k one. The $386k is the correct median price. What happen to that prediction of the median price being at $300k at the end of the 06’ year? You think we still heading for a 50-70% decrease? The “dreamers” love to dream. I think CMGR has it right, we will be at $500k sooner than later. Especially when we have realtors telling about more higher priced homes selling. Once again, the “Domino” theory will come into play on all property at lower prices, will start to change to higher prices.

BTW, anyone see the movie called “Domino”? Story based on a female bounty-hunter. Good movie!

Yes CW, northern buyers do see us at a lower bargin rate in prices, taxes, etc. What the local govt. need to do is to promote small businesses loans. Small businesses is the backbone to this country, not corporate America. Corporate America sold out the people here. China has little girls who work 16 hours a day for about 10 cents an hour. Slave labor camps run by Wal-Mart and K-Mart are just as bad as cotton field plantations of the old south. To bad Jesse Jackson and his group does not say anything. Maybe he does not like people with yellow skin. The only remark I have to say is not buy goods from China. You are promoting their economy and military with the money you spend on labels they say…..”Made in China”. Has anyone notice that China is testing to knock out our satillites? I do not mean our HBO ones, but military & spy.

If Palm Beach is in a endangered market, it tells me we are like turtle eggs. Someone will be willing to pay the price to get in. The numbers from January to May will tell all. By the time June is here, Linda and Jeff will singing a different tune here of how the experts were so wrong.

The Donald will have a new condo complex here in WPB. He has three in Lauderdale and I think four more in the Hollywood area along the ocean. Someone will say that The Donald is making a big mistake on building here. So are all those investors from Park Ave. who are investing with him. I bet all those Park Ave. condos will go down 70% when Trump fails. Maybe Mike Fink will pull out his calculator and do a rent/owner ratio expense report on living in NYC.

Rich R. ……go back to bed with Aunt Bee or tell her to make a pie for you.

easyasabc

p.s. ……easyrenter, or easyasxyz, easyas123, easyfuk, easy(whatever) is not me. That is someone(s) who cannot think of a name for themselves.

By Ostrowski-Fan

January 29, 2007 2:49 PM | Link to this

Jeff, please come back!

Signed,

Ostrowski Fan

By Rich R

January 29, 2007 3:01 PM | Link to this

Hey easy,

I just sold the 11 acre lot I bought last year for $192,500.

I got $374k for it from a developer.

Not bad, huh.

I bet you wish wish your little tract home was in NC right now.

You are such a loser. Grow up and play with the big boys.

The boom left SoFla and it settle in places for which NC is one of them. The average person, with the average job can afford the average home here. WAKE UP YOU FOOL.

We are seeing values increase as yours drops.

Who called it right? you or me?

Laughing all the way to the bank.

Rich R.

By Chrldrtheme

January 29, 2007 3:10 PM | Link to this

Judging by the length and content of postings by the usual clowns, fear must be starting to creep into the cheerleader crowd. Keep trying to bolster each other, guys, it is entertaining. And, despite some nastiness from those really getting the willies, mostly pretty humourous.

The theme :

Now if there’s a smile on my face It’s only there trying to fool the public But when it comes down to fooling you Now honey that’s quite a different subject But don’t let my glad expression Give you the wrong impression ‘Cause really I’m sad, oh I’m sadder than sad Well I’m hurt and I want you so bad Like a clown I appear to be glad, ooh yeah

Chorus Well they’re some sad things known to man But ain’t too much sadder than The tears of a clown when there’s no one around The tears of a clown when there’s no one around

Now if I appear to be carefree It’s only to camouflage my sadness And honey to shield my pride I try To cover this hurt with a show of gladness But don’t let my show convince you That I’ve been happy since you Decided to go, oh I need you so Look I’m hurt and I want you to know For others I put on a show

[chorus]

Just like Pagliacci did I try to keep my surface hid Smiling in the crowd I try But in a lonely room I cry The tears of a clown When there’s noone around

Now if there’s a smile on my face Don’t let my glad expression Give you the wrong impression Don’t let this smile I wear Make you think that I don’t care Cos really I’m sad

By not welcomed

January 29, 2007 3:52 PM | Link to this

that rich guy seems he enjoys north carolina. spends all his time on writing to people in florida. must be lots of fun to do around town.

i was there, and folks, it is nothing to write home about. no jobs, no money, no way out for the ones who moved there. better here than there.

easy was right, florida folks are not welcomed in carolina.

By Rich R

January 29, 2007 4:07 PM | Link to this

I don’t know.

I showed up in NC and hired 114 people, getting state funded incetives and enhoying every minute.

Remember Easy, as we speak, values are rising IN NC, NOT SOFLA

Wake up and smell the smog. You missed the boat.

Booms and bust will occure over time.

The magic is in identifying these regions.

You loose, I win.

Very funny.

It’s been over a year now that I’ve been posting and I have seen great gains from the the cash I pulled out of SoFla.

Although I grew up in SoFla, I chase the cash.

I win, u loose.

Game end.

By Rich R

January 29, 2007 4:10 PM | Link to this

btw, I still have the three other parcels I bought when I got here.

U wanna make an offer?

I thin 50-75% gain will work for me.

What are you thoughts on your little tract home that won’t sell.

Ha Ha Ha Ha ha.

It’s nice to right sometimes.

Boy, do I wish I was right all of the time. i am not, but this time I was right.

Laughing all the way to the bank.

Rich R,

btw, I spoke to some friends at the PB yacht club, and nobody knows you.

Are you sure you were boat number 25 last year. Very funny.

You’re too much man.

Enjoy your bashing as I drive to the bank..

Ha Ha Ha Ha

By to rich r

January 29, 2007 5:44 PM | Link to this

rich r, i agree with some of what you say. you seem genuine, but good golly son, learn proper english. you use the word “loose” as win or lose. “loose” means loose as a goose. please learn to spell. it’s driving me nuts.

one looks less intelligent when the spelling is wrong, and you spell that word wrong all the time.

By to jessie

January 29, 2007 6:02 PM | Link to this

Jessie,

If you are for real, I would advise changing your attitude on life and how you perceive work, money, prosperity, and happiness.

If you re-read your post, you will see how desperate and full of hate you have become just because your financial situation is not what you had hoped or dreamed.

The fact that someone else appears to be doing better than you should be of no concern to you.

Moving isn’t going to change your attitude and, more importantly, how you manage and budget your spending?

If you do not change these things, a doubling of your household income won’t even solve your problems. You will be broke then also. You must first cure your disease.

You are only taking aspirin for your headache with your dream of moving. You need to find the reason you have the headache, or no matter where you are, you will always have it. It will just hurt in a different spot.

I truly hope your husband and yourself can sit down and straighten your mess out, or you’ll be in the same psot your in 20 years from now and no better off, no matter where you live.

Show your post to your husband tonight. It would be a good start.

By Steve

January 29, 2007 7:08 PM | Link to this

Sleazy doesn’t want you to listen to me, hoping maybe you’ll buy his POS.

By explain yourself

January 29, 2007 9:24 PM | Link to this

You know, I have a question for some of the renters like Mike Fink, Easy Renter, etc who have been pounding the table with their formulas and graphs and links.

Most of the so called Cheerleaders have at least told us all their stories and what they have, bought, sold, basically, what I am trying to say is that we know the cheerleaders have at least put their money where their mouth is.

I do not hear the same from the renters. Let’s hear your stories. Have any of you ever been owners? If so, when? How long? What is your five year plan when it comes to real estate? Do you have one? Let’s hear it guys.

Say what you will about the regular posters on the cheerleader side, and even our escapee Rich R, at least they say what they are doing and what their long range goals are.

The renters always seem to be quiet on that subject.

That speaks volumes, it really does.

Those who rent for many, many years usually do not have a very good long range plan.

By FUC- N-WITH-RICH R

January 29, 2007 10:08 PM | Link to this

Good evening Rich R. I should also say good evening Maxmoose03.

Did any of you ever notice that when Maxmoose03 posts, Rich R is not around, And when Rich R posts, Maxmoose03 is not around?

Did you ever see Maxmoose03 comment to Rich R on what he said or did you ever see Rich R comment to Maxmoose03 as to what he said?

To CW1900, A.P., and Easy:

It was this line of Easy’s that put it all together for me.

“Max, don’t you know almost all successful realtors don’t have to pay for their women. Unless you are not selling, your wife is not giving and you are begging. I know why steve is writing, but why are you? I am telling you, you are turning out to be like Rich R.”

It was after reading that line that I realized that Rich R and Maxmoose03 is one and the same person.

Which brings me back to Rich R. Which means Rich Realtor - so he thinks. Before you know it, we will see Poor R.

If Rich R is in Carolina, why is he running around Palm Beach County at marinas looking for Capt Easy’s boat?

If Rich R is laughing all the way to the bank as he says, why is he on this blog when he should be out enjoying life with his money or doing something useful with his life?

No, I have come to the conclusion that Rich R is sounding more and more like a desperate broker who has not been making enough money to make ends meet.

Then we have to come back to another one of Easy’s comments which was:

“I notice someone told him he was a loser on saturday nite. I have to agree with that and Max, you should be ashame of yourself trying to buy women”

Don’t be afraid Rich R, go ahead - beg INTERNET MADAM for the company of a woman tonight. As you said, you have money, spread some of it around to all those hard working woman out there working tonight. What’s the matter, are you afraid to take your hands off the keyboard and put them somewhere else?

You are the biggest loser of all time.

      LOL

By We are very much alike

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

From The Sunshine Coast Daily, Australia

I defer to the earlier post today about it’s all one’s perspective. Read this. Half way around the world and it sounds like Palm Beach County.

Why this year is the one to grab property

29.01.2007

by SAM BENGER

REAL estate agents on the Coast are advising people to buy rather than rent this year as the pressure on the housing market continues.

New figures released by the state government show the rental squeeze is crushing people on low incomes, with the average cost of renting rising almost 50% over the past five years.

“Between December 2001 and June-December 2006, the median rent for three-bed-room houses in Queensland increased by around $85 per week, or around $4420 per year,” said Housing Minister Robert Schwarten.

Worst affected was Mackay, where the mining boom saw rental prices double over the past five years, while Rockhampton experienced a 63% increase in the same period and Brisbane went up 50%.

On the Sunshine Coast, the median weekly rent for a three-bedroom home rose 53% between December 2001 and December 2006, leading to the call from agents to abandon the rental market and buy wherever possible.

Gannon Realty principal Clive Gannon said he expected 2007 to be a steady year.

“I’m not predicting a lot of growth, but I think there will be a small amount,” he said.

The abolishment of stamp duty for new home buyers was also an incentive for people to buy rather than rent, he said.

It was a “very good idea” for renters to consider buying property rather than battling the tight rental market and paying increased rents.

“We don’t have one single thing to rent – we rented the last house on our books on Friday and there’s absolutely nothing around at the moment,” he said.

Mr Gannon said there was a “50-50” chance of an interest rate rise in February, but he maintained saving up for a house deposit was the best investment for people looking to buy their first home.

“If young people can’t save up a deposit then I suggest they hit up their parents for a loan, because that’s their only chance at the moment to get their foot in the door in the property market.

“The gap will just continue to widen in the next few years.” PRD Nationwide Maroochydore director Syd Walker said he expected property values to “firm up” this year.

“Last year was the worst year in terms of volumes of sales and not enough buyers, whereas this year values are firming and we’re looking at a hard, solid market,” he said.

“This year I think we’ll still see more houses for sale than buyers, but it won’t be as bad.”

He said first home buyers would continue to be on “struggle street” this year, as properties at the lower end of the market became harder to find.

Raine and Horne Mooloolaba principal Steve Suter agreed, saying first home buyers had “almost evaporated” as they struggle with affordability of property at the bottom end of the market.

“The best thing they (the government) could do to give the market a boost would be to re-introduce the $14,000 grant because, at the moment, it’s difficult for them to save a sufficient deposit to get them over the line,” he said.

By Prices

January 29, 2007 10:19 PM | Link to this

Currently own three properties. Primary SFH in NYC.(over 35yrs) Both others in NJ. One on Lake Hopatcong, NW area near PA border. Other in Cape May on So. Jersey shore.(I DO like boats)

Have owned condos for family use in SoFl for more than 25 yrs. Sold last one, 2/2 in Pompano Beach in 2005 in pique at paying three times RE taxes as SOH.(Also got too hard to resist insane prices offered compared to purchase.

Now rent seasonally when we feel like it. In Feb will stay in Vero Beach for a while.

Would consider buying again in SoFl if RE taxes equalized or if prices eventually returned to sanity levels. If that doesn’t happen, no big deal to me. From listings I see and in visits with friends in my old condo bldg prices have come down quite a bit, but at present renting and trying other areas like Vero is more interesting still. Spent last weekend in AC at Ceasers. SoFl really needs to try getting 1st class Casinos in Beach areas. The places in AC are packed. Incredible revenue stream being lost by SOFL.

By HalfBack

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

I’m leaving Beech Mountain NC for good.

The last straw was the punk gas station attendant asking why so many foreigners from Florida want to “dirty up” his mountain?

Those who say the locals detest Floridians are 100% correct.

I am an AFF and proud of it. I’m coming home!!!!!

The snow sucks anyway. It’s like skiing on a mix of white sawdust and gravel.

Good riddance to these nose pickers.

By maxmoose03

January 30, 2007 12:06 AM | Link to this

Well, since I am supposed to be Rich R, let me say this about myself:

Rich finally gave himself away. He used to be so insistent on the point of his having money, I almost wondered if it were not total BS. Rich R. cleared that up today. The public orgasm he had over a captial gain of less than 200K (after taxes not enough to buy a 1br condo in a rental conversion), made clear he has no real money, and no expectation of ever acquiring it in his lifetime.

I now have no doubt this dirt-eating redneck would be the poorest person by far in my building or in my neighborhood — where people DON’T brag about having money.

What a ma-roooooone, as Bugs would say.

@@@@@@@@@@@@@@@@@@@@

Someone wrote something intriguing about “cheerleaders” at least saying what they do instead of just rejecting everything. I hope I do that in a positive way. SO here’s what I did today in regards to R/E, but with no commentary, taking no position on current trends.

Spent several hours analyzing someone else’s management problem on PC. (Paid endeavor.)

A friend of mine just bought a restaurant downtown, went there for lunch.

Took calls from realtors offering rental deals. Confirmed rental deal signed yesterday at $1800 for a 1 br, discussed option for them to buy.

Spent 3 hours getting yelled at by angry tenants for someone else’s project (paid endeavor).

Took more realtors calls, got message for $2250 rental offer on house mentioned yesterday.

Got two more calls from realtors making rental offers on condo. My fault for leaving it on MLS several hours too long.

Got home, took condo off MLS rental list, left it for sale. Raised the asking price by 60K.

Had a great dinner out with the g/f, and talked it over. I’m out of units. If I rent the house we’re homeless. We have to buy something else, or compete with everyone else for rentals.

If we buy, it has to put cash in my pocket up front. 4 to 10% commission, or some deal like that. Also thought about going to NYS/New England and buying a small house just for the spring/summer.

Forgot to call back the realtor, don’t want him to think I am ignoring him. Tomorrow. Tomorrow I will only work on my own stuff, painting a room. Yes, I could pay some of the people on this board to do it — but then I would miss the fun.

Well, came back, turned on the PC, got a real kick out of the economist trying to predict the future, when he didn’t even get the figures right for the recent past. And of course there was that embarassing passage by Rich R., followed by accusations that I am Rich R.

OK, so let me wrap this up. I’ll go play classical guitar for a while, then read a computer science book (can anything be more relaxing?)

Walk he dog, attack the g/f….

Tomorrow’s another day.

Now: Did you REALLY want to hear all that?

After this somebody should be accusing me of being easyasabc.

Life is good in Palm Beach County.

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January 30, 2007 5:36 AM | Link to this

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By maxmoose03

January 30, 2007 6:08 AM | Link to this

Look at the time. I have to buy the dog a watch so he stops waking me at 6. Maybe that would make him a watch-dog.

Good chance to make this observation: I now understand why “Prices” is so pre-occupied with classified ads that say “reduced.” He sold all his Florida properties before the biggest bump in 2006-2006, leaving a small fortune on the table, and now is hoping against hope that prices will fall. If he has owned a home for over 35 years, he is probably between 60 and 70, and still lives in the age of classified ads (not to mention Humphrey Bogart movies). Still, that is no excuse to fill these columns with crap. No one in their right mind came to this column to read Price’s select classified ads.

Now, on the other hand, what he did today, maybe in response to that suggestion of people telling their stories, was a lot better. He HAS a story, and reading it is a lot more instructive and interesting than reading classified ads or old Gilligan’s Island scripts.

Big improvement, IMHO.

By Bob

January 30, 2007 6:13 AM | Link to this

Life is good in Palm beach county with housing prices and gas prices dropping like a prom dress on prom night!

By maxmoose03

January 30, 2007 6:45 AM | Link to this

“explain yourself” gave the hint on the “cheerleaders” having something to talk about, at least. You may have started something, “explain.”

About Jesse —

Anyone can change names at will on the blog, so I don’t pay attention to who someone is, but the logic of his/her argument.

I know there are plenty of “Jessie’s” living here and struggling. This is a place with high rents and low wages, and it’s not going to change.

Yes it is unfair for people to work so hard and get so little. There are certainly places with cheaper housing. In half the towns in this country you can buy a quite livable house for 60K. Finding jobs is a problem, but the Internet gives us all an advance sentinel we never had before.

Many people working for a living made out very well in the past couple of years by owning a home which increased in value. Even if it were just a 60K condo in Boca that went to 150K, it had a solid impact on family finances.

Many people you see writing on this board would not invest that 60K. The more general question, in my mind, is what do you invest in?

The most important think you can invest in is yourself. Did you go to college? Did you get any kind of marketable training that increases your value as a skilled worker or professional? Maybe its not too late. The Internet brings education to people almost anywhere, anytime.

I see people I work with come here from foreign countries. In a week, they have a job. In 2 weeks, they have an old car. In a month they have title to a house. In a year they have two houses.

They are programmed to take advantage of their opportunities, having grown up in a place where they had no opportunities. They don’t over-think things. They don’t have all the crap in their head that stops people like Fink from thinking or acting effectively.

They invest in themselves. They invest in real estate. They start businesses. They invest in the future, starting with almost nothing.

How we Americans —the safest, best-fed, luckiest people on earth — can fail to appreciate the opportunities we have is an unfortunate mystery.

I am hardly a religious guy, but when the Bible advises “As you sew, so shall you reap…” it is not talking about agricultural methods. What this tells me is thousands of years ago human beings understood that they shaped their own future, they knew they had to do certain things to realize a benefit with time.

I’m going to go walk the dog. He runs away every other day. We wait a while and he’s back. After a few hours he realizes he doesn’t know what to do with his freedom. He only knows how to accept food, shelter and indulgence from other creatures. That is his only life strategy.

I just try my best not to be like the dog. (No jokes about going in the living room.)

By AverageGuy

January 30, 2007 9:22 AM | Link to this

Where can the average person, with the average job afford a average home in Palm Beach County?

By to average guy

January 30, 2007 9:28 AM | Link to this

the word average means nothing. your question is too vague.

average means completely different things to different people.

if you want a real answer, you’ll need to be specific, otherwise, you will end up with worthless answers from the morally bankrupt and emotionally distraught on this blog.

By Mike Fink

January 30, 2007 9:54 AM | Link to this

CW:

Everytime he comes down (at least once per year), he is always amazed at how reasonably priced real estate is and how low our taxes are.

Ugh… Are we talking about the same city?

Avg home price: $102,578

Avg US home price (for benchmarking): $173,585

Palm Beach County Home price: $205,673

http://www.desmoineshomesandland.com/Magazine/Listing.cfm?MagId=2234&City=DES%20MOINES&State=IA&ListingId=9946681

2800 SQ/ft - 360K asking price.

Tax rate in Des Moines is $17.04857 per 1,000 of assessed valuation (pretty similar to what we have here, only the homes cost half as much).

Your friend is nuts if he talks about how good home prices are down here as comapred to Des Moines. You should have him committed.

By crazydem

January 30, 2007 9:58 AM | Link to this

Average Guy-Turn to the Dub. L-Dub. Aka Lake Worth. I got my humble start their in RE a few years ago. $220k for a house. No one can whine anymore about not being able to afford the gate with a retired NYC cop in a golf cart and marble coutnertops. The sideliners need to turn to the Dub. Become invested. Be vested. Be a community member and take it upon yourself to turn the area around. If you have time to whine you have time to climb.

By new haven

January 30, 2007 10:04 AM | Link to this

Here’s something.

My next door neighbor in New Haven in Abacoa just purchased a lot in Cashiers, North Carolina for $310,000. I think it is around an acre and sits at 3500 feet up. Nice view, but not on any body of water or a golf course. It is just on a paved street with just nice views.

Granted, buying in Abacoa is pure retail, but does anybody think that is nothing but pure developer, full retail with a nice glossy brochure, overpriced hype?

That price seems a bit excessive for a lot with nothing but a nice view in the hills of nowhere. Cashiers is supposed to be the trendy place to buy in when people have no idea where to go and they only know they want to buy in North Carolina because it’s the in thing to day, but this is ridiculous.

By Mike Fink

January 30, 2007 10:06 AM | Link to this

Average is not a “arguable” number, it’s a very easy number to figure out. Anyway, to answer the posters question, let’s just make some assumptions:

The median income for a household in the city was $36,774, and the median income for a family was $42,074.

http://en.wikipedia.org/wiki/WestPalmBeach,_Florida

That was the highest number I could find on the page, but I think it’s low, I think our median is really more like 50K-60K per family, maybe a bit more.

Let’s say 80K family income, just so the bubble pimps don’t get all bent out of shape.

You should not purchase a home for more then 3X your gross HH income, so 80K X 3 = 240K.

For 240K you can buy a condo, perhaps a 2/2 if your willing to get into a slightly more dangerous area (Village). If you willing to move way out, you can find a nice townhome out west for that price. Single family is pretty much out, unless you’re in a terrible area. Any SF in a decent area is going to be ~300K, unless your willing to go WAY out (like Martin county).

The avg person, with the avg job, cannot afford a home in PB county. You may not be able to afford a condo (if your truly average, and right around the median income).

And, BTW, those guys on PB Island with the 10M dollar homes? Guess what, your paying a higher tax rate then they are! If portability becomes a reality, you will pay that higher tax for the rest of your life.

Welcome to S. FL.

By easyasabc

January 30, 2007 10:08 AM | Link to this

I am hurting here so much by laughing. I really don’t know where to begin.

I have to tell Max that I was accused several times over that I was him. I was also named to be several other people here, i.e. “student”, “internet madam”, “ap”, “cw”, “fink” and others. But I beg everyone, do not label me RCA!

Max & Rich the same person? One hates Steve, the other one has his hand up his a*s. One is in NC, the other local. Both are realtors. Both are here 24/7. One bashes the market, the other is trying to promote the market. Both are bad in grammer & spelling, but who isn’t here? Neither one never talks to the other one, but will mention everyone else.

I don’t think so, but if they are the same person….then we are dealing with someone with schizophrenia.

Mike Fink did own and sold several years ago. I don’t want to rehash it, but you need to follow the story lines here. Just a recap here….

Steve is with the Klan and lives in a trailer, RCA is in a asylum a.k.a “student”, Madam has a whore house, AP, CW, CMGR, Fla Ren. and Cole have money and property. Rich has a cesspool in Lake Worthless and in NC, Dot is a realtor who goes by many new names including easyfuk now, definitively one major A1 psycho. Both Max and Rich like to brag how much they have. Tonya moved to Atlanta, Bubba moved to the midwest, but his name was taken over by Dot. Fink rents, has a high priced wife, and looks at every “open house” with a calculator in hand. There are lot more other people, everyone just needs to follow the story here.

Now for Rich R……I am so happy you are making money. Gee, you must be well known around your town. I bet when you drive around town, all the NC people must hold up two fingers as you drive by.

I did not know I was in a game. You went off the edge yesterday it seems. Little to much to drink? Sniffed some bad stuff up the nose? Aunt Bee did not satisfy you? You had a bad piece of pie? I know, your medication did not arrive from Costa Rico yet!

I am selling a tract house? I was accused before of that, and last time I looked at my property inventory, I did not have one. Not selling anything. Maybe later on I might sell something I have. But for right now, I am happy, and doing good in Palm Beach.

I really had to laugh of how you came down here and looked around for me at the PB yacht club. People must have looked at you as one BIG A*S when you were calling for Capt. Easyasabc! Were you looking for a ride on my yacht? My 44 footer is in Broward County harbor in Lauderdale. I read a story this past week that Dolphin’s Jason Taylor has 100 footer. Why don’t you ask him for a ride. Nice craft, and better than mine. I have a skipper taking some people out this week on my little boat, so you needed reservations two months ago to be on it for the day of fishing and drinking. It helps pay for dock fees.

Rich, I really don’t care if people move from Florida to NC. We will have less traffic, you get more. Our median income goes up, yours go down. We have less taxes, you will have more taxes. We will have better job opportunities, you guys will open more unemployment offices. Our education scores will rise, your state will be just ahead of Arkansas test scores. We will get our favorite restuarant table faster, you will have longer lines at “Shoney’s” and “Checkers”. So enjoy NC, it seems some of the “half-backs” hate it already from what they are saying.

Rich, you need to get a hold of a “Big Fat Waitress” at the local Denny’s. Tell her how much money you made. Spend some of that money, take her out to a “Shoney’s” buffet dinner meal! Maybe you need to re-visit Steve, and have him pull down your pants and let him jerk a fountain drink for you! You are just way too much.

Steve….no one cares about what you say. Go bleach your white cap and hat for this weeks Klan meeting in the Acreage.

Those people from NC, what can we say about them. Some are sneaky and suspiciuos, and others are just suspicious and sneaky.

Rich has over 100 people employed! Do they make cargo runs to Jersey, Detriot and St. Louis? Are you in the cigarette business? Are all of your employees named Mohammad, Omar or Jose? Have people in Dark SUV’s been watching you. Do you have mail that goes overseas to Iran, Jordan, Pakistan or Syria????? When was the last time you pledge your oath to this country? Are your employees unionized?

Boy, did I enjoy a good laugh this morning.

I said it once, and I will say it again…..This is the best entertainment in town. Even the people in NC need to go back to Palm Beach Post to get their entertainment.

BTW, it will be sunny and in the low 80’s this week. You people in NC, don’t eat the snow, the ground is contaminated with all that chemical waste that they are pumping into your water system. That smoke you see in the morning mountains, are underground fires going on.

Life is good in Palm Beach.

We need a new story!

We also need new reporters!

easyasabc

By easyasabc

January 30, 2007 10:15 AM | Link to this

To: New Haven

Ask your neighbor if that lot has city water, city sewage, drainage, electrical to it? What about schools, police, or fire? Is the town hall an old 1920’s structure or a trailer?

$310k for a lot! What do you think he will spend for labor and supplies to build his dream house? What about the taxes he will have to pour in if the infrastructure is not there? What about jobs?

Jupiter, Florida sounds better than Cashiers, NC.

By cw1900

January 30, 2007 10:43 AM | Link to this

Mike Fink,

I used Des Moines as the general area. They actually live in West Des Moines, very pricy and large homes with good school district. What you are looking at would be like comparing to Haverhill. Their home is just shy of 5000 sq ft and property taxes at $11,000, not including the association fees of about 4 grand per year. The home is worth around $750,000 - $850,000 (my guess) and in a golf course community. Mike, you are just plain wrong on this one, and you are only looking at the general area in very general terms, as you normally do. You do not know what you are talking about on this one. You can give general data, but so what. What does it mean? The Des Moines area comprises many towns including the city of Des Moines, as the West Palm Beach area comprises of many towns and the city of West Palm Beach. West Des Moines is to Wellington as your linked example is to Haverhill, is the best way I can describe it.

What he is saying is, the taxes are much cheaper, and the cost of living is much cheaper. For what our lifestyle is here, we get alot for the money is what he is conveying. For a buyer to buy his house, the new buyer’s tax rate would be much higher, according to him.

Mike, with all due respect, your problem is you should have been an accountant. You see only charts and graphs and black and white, and you cannot see the gray areas. You cannot see what makes things different except for the data. Data is only one part of it.

Step back and rethink your business philosophy.

By Casinos

January 30, 2007 10:49 AM | Link to this

Someone brought up an intresting subject matter about casinos in South Florida.

Do we need them? Well they help or hurt the area. Pros and cons on both sides.

If we do have it, it needs to have control by the state level and not by the county. Corruption has been finding its way lately through Dade, Broward and Palm Beach county officials.

You know if you were an indian on the local Everglades reservation, you get a check for $7,000 each month! Tax free money!

A mini Las Vegas style area might be nice in several areas. I think Trump is planning that in the long run.

If you know history here, we had once the most exclusive casinos in the world operated by E.R. Bradleys in Palm Beach.

Gambeling can also bring crime, broken families and addictions to the area. Is it worth it? To receive revenue from one source and help build and expand other areas might be good and bad. We all need to look at other cities like Vegas, Jersey City, Mobile and other areas on how it affected them.

If we do have it, lets put it to a vote. We did it for the racing tracks in the areas on slot machines. If there is anyone to blame, it will be on the public.

easyasabc

By maxmoose03

January 30, 2007 11:24 AM | Link to this

Starting out as a rowdy day :-)

Easy - You do embarass yourself when YOU tell ME I have “bad grammer.” If you folks think I’m kidding, go back and check his post.

Of course, if you like, Easy, we can discuss this in any of half a dozen other languages, including the Italian you tout.

CW — How did you figure out I came here to learn about Iowa? You know I am generally sympathetic, but I think I learned everything I wanted to know about Des Moines (and more) watching “Field of Dreams.” Good job nailing the guy who parodied you, however, for his intellectual dishonesty.

And no, I don’t think Mike should be an acccountant. Any CPA who gave the advice Mike gives would be sued out of existence quickly. Now, having extensive credentials in IT myself, I can tell you IT is another field where Mike does not belong. Mike is the only person I know who can add 1 + 1 and wind up with 3, because he took the weighted average of 1 before rounding in its most common applications in Palm Beach County in 2006, multiplied by the square root of pi and then rounded upward.

Mike has a wonderfully inquisitive mind —and no logical sense whatsoever.

Finally - CW, and anyone watching — if you did not catch Rich R’s public orgasm over making less than 200K in a land deal, you HAVE to scroll back and see it. You would be embarassed if your 5 year old acted like this, but here he is in delirium over an ordinary capital gain. If he almost had you convinced that he was from a monied background, this should dispel that notion quickly.

By Prices

January 30, 2007 11:48 AM | Link to this

Upscale Casinos can be done in SoFl. I think earlier poster meant Atlantic City, when posted “Jersey City”.

Gambling is fact of life. Internet casinos, State Lottery already available to those with problems. In AC, Borgata is building another hotel tower to satisfy demand. As is Trump Taj Mahal and others. Ceasers, now owned by Harrahs, has transformed a very tacky pier into a lavish mix of midscale and very upscale retailers (Tiffany, etc) on 3 levels. Magnificient views of Atlantic from restaurants, clubs, on 3rd level. Areas at end of pier are like sitting on rear deck of cruise ship. Pier is attached to Hotel/Casino by enclosed walkways over the boardwalk on multiple levels. Casinos themselves connect to each other by enclosed walkways. In Summer, Casinos open clubs on Beaches in front of Casinos.

Indoor polls/luxurious spas/keep non-gamblers happy when they are not shopping at huge array of retailers.

In street area on landside of Ceasers, flophouses and tenements were bulldozed, now block after block of retail factory outlets. (Coach, Gap, etc,etc). From Vegas, SoFL could look at the highspeed Tramway connecting Casinos. These could whiz patrons from parking areas away from Ocean front. Taking best of development ideas from other areas with Casinos, SoFl could really become an Internaional destination for spenders and portions of new income streams dedicated to Re tax abatements for homeowners and an emergency fund. If at all possible, bulk of revenues should go to those counties that allow the Casinos, while those who reject live with a great sense of moral superiority as their reward.

Those interested in a real future for SoFl as an international year round destination should push UPSCALE casinos in every forum they can.

By Mike Fink

January 30, 2007 11:59 AM | Link to this

Moose,

I never claimed to be a CPA, although I do know how to add. However, the information that I post on this blog comes right from the mouth of my accountant. He told me, about a year ago, not to buy in this area because RE was “grossly overvalued” and I could not afford a 20-30% loss on 1/2 mil dollars or more (who can?).

You guys have been ra-ra on the RE market for the past year, do you realize, anyone who listened to you last year has overpaid by at least 10%, and probably more if they need to sell today?

Yes, RE is typically a milestone to finacial independance. However, the rules changed about 3-4 years ago, and many people are having trouble coming to terms with it. Anyone could get a loan for 5-10X their income, regardless of credit history or even verifiable income.

Telling people to jump into the market now, is again, ra-ra speak from the RE machine. If anyone was on this board, and pushed to buy because of your advice last year, I am sure they are very happy with how their “investment” is working out. My track record is good, go way back in the blogs, I was suggesting that RE was poised to drop back then, and I was right. I believe I am still right when I say we have another 2+ years of correction ahead of us. Is that finacial advice? Nope, it’s just my take on the market, do with it what you will.

By maxmoose03

January 30, 2007 12:09 PM | Link to this

I am appalled by the idea of Casino gambling in South Florida. I find it morally reprehensible.

What we really need is some high-class whorehouses, in beautiful new buildings with different themes, such as ancient Egypt, colonial America, Disney World…you get the picture. There should be a monorail to whisk patrons to and from first class hotels along the beach. Talk about generating revenue!

The only gambling I want to do is play Mike Fink in chess for money. Of course….that’s not really gambling, since the outcome is assured.

Prices — better posts these days.

By maxmoose03

January 30, 2007 12:27 PM | Link to this

Good Afternooon Mike.

Your accountant sounds like someone I would like to avoid, assuming he is not another little Fink Fib. Is he/she a CPA?

I am not going to rehash the arguments for or against, except to say that the idea that you can value real property within a few dollars one way or the other is ridiculous. When you bought an apartment for 50K, you knew for sure it wasn’t only “worth” 48K? Did you think it might really be “worth” 55K?

When you start talking about 10% overpaid you are talking nonsense. You simply can’t determine a value that precisely, and I am called upon by appraisers somewhat frequently to give THEM my opinion of value in a particluar neighborhood.

In a world of dizzying inflation, you have to own appreciating assets. Period.

You can measure average or median house price — but it came out virtually the same from 2005 to 2006.

Mike, here is one true example of what I did with an investor in a building we have discussed. I took him into and out of a unit in two months, made him 150K on a 40K investment. Can your accountant do that for you? (No -I am not soliciting your business. Would like to play you chess for money though, unless it’s illegal).

OK, so I took your advice and OK’d a lease for over $2/ sq ft on condo.

Now house renters have upped their offer. I could be homeless soon.

I have to go out looking for real estate to buy, so tell me where those great huge bargains are, Mike. I have to stay near civilization, can’t live in Abacoa.

By maxmoose03

January 30, 2007 12:31 PM | Link to this

BTW Fink: My accountant, a CPA, is building a subdivision neaer Melbourne, and just bought his own office building in Tampa.

Maybe it’s time you switched accountants, Mike.

By Signed

January 30, 2007 1:13 PM | Link to this

jessie’s watching the price is right with the crows feet around her eyes from too many years of sucking on marlboro lights and is dreaming of a gig as an asst night manager at taco bell, mike fink couldn’t get a job at the geek patrol so his IT job is putting in more memory for people in that little room at best buy and he looks cool in his yellow and blue, and poor old easyasabc originally from el dorado arkansas until 5 years ago when he won $43,890 in the arkansas lottery and thinks he’s loaded, has a 10ft aluminum jonboat with a 1992 evinrude 9.9hp and his chick keeps her cigarettes rolled up in her sholder sleeve while crazydem really is voting for john mccain but secretly had porn of hillary in his briefcase and that’s while rich r’s double wide just sold for a $1876.34 profit so he can finally pay off the inventory he still has in his garage from his last multi level marketing failure but would you know cw1900 really hails from dayton ohio and is right now as we speak sitting in his cubicle from his customer service job in wheeling west virginia making $13.77 an hour (union, of course), at a collection agency for people late on their payments on their rooms to go credit cards and this is at the same time that steve is taking his 268lb haitian wife with the banana hat to the winn dixie to get them some chex diet soda for the neighborhood crime watch meeting in delray and can you imagine our resident maxmoose03 is actually 16 and female and is going to be a laughing stock tonite on american idol when she tries to sing aretha franklin’s respect in french and german and italian all at the same time and her halter top falls down but her parents in the audience drove all night from the 2br house built in 1968 in palatka and tries to punch out simon because max’s dad really wants to get out of driving that bulldozer for the dept of transportation and this is all happening while rca who really does like pudding is asleep on the couch arm and arm with tanc dreaming of their new life together now that they’ve found each other on another blog that doesnt deal with real estate but this is at the same time that cmgr is driving his uhaul up to ocala after his wife named a.p. threw him out last week for losing his paycheck with casino boy at the hard rock and lol realist lost his deposit on his ryder truck when he falsified his rental agreement signing his name easyasabc but he really looked like internet madam the lot lizard at 238am roaming the parking lot of a truck stop in ft pierce trying to find a guy named realtor who calls himself dot the easy renter who is trying to pay last months rent in his 1br city place loft and this ahole named signed just keeps getting farther and farther off the subject of……..

signed

the thinking of a guy named what probably who they all are

By Prices

January 30, 2007 1:16 PM | Link to this

“I’m shocked, shocked to find that gambling is going on in here!” [a croupier hands Renault a pile of money]

maxmoose alternates between Queeg and Renault. Both Captains anyway. Ever in service ? I was NCO in 101st long time ago, another wrong war in wrong place.

Very easy to see some bargains - browse the online ads of Post as start.

http://secure.adpay.com/searchresults.aspx?catid=6086&pid=505670345056557566444C6E6E6457436B53536443513D3D&procid=7c636be1-aec4-4790-bb44-a9159f60fa9b&city=West+Palm+Beach

By CASINOS

January 30, 2007 1:38 PM | Link to this

Yes, I meant Atlantic City. If we did have casinos, I rather have Monte Carlo type of atmosphere. Not a bunch of slot machines in every hallway of a motel/hotel/bar. Something with class. In a area where it is contained, and not in spotted locations all over the county. Major corporations running the gaming industry, not a bunch of “Hoods” that resemble the Sopranos.

I think we know what Rich R. is….so lets ignore him.

Max, it is not how it is said, but the meaning behind what is said. No one is perfect, including you. That is great you know several languages. I am not into foreign languages, but I have dated women from Canada, France, Germany, UK, Hong Kong, Brazil, Poland, Argentina, Spain, Netherlands, Italy and Ireland. Does that qualify me as multi-culture?

If the real estate industry goes under, Max can always get a job with the U.N. Now if you know “Farsi”, you would be able to make $200k a year with Halliburton in Iraq.

BTW, How many of you “slick” wanne-bes are ready to get drafted? With the war coming with Iran and rest of the Middle-East, all ages will be required. I believe our WW II vets had the age limit to 46 yrs. old. Can anyone imagine RCA being a military leader? I picture him as a “Patton” with pudding running down his medal decorative chest.

Making money will not be on anybody’s mind then. It will be either “how can I survive in battle” or people like Steve and Mike Fink asking “Which way to Canada and is there any housing under $100k?” I believe our NC “nut” would open a sales trailer in Baghdad and promote cheap lot sales outside of town.

All fun in Love and War.

easyasabc

By N8Tive

January 30, 2007 3:59 PM | Link to this

Look at CNN.com, top story in RE link headline - Major home markets’ slump continues- interesting, though that one of the few markets that is still rising is MIAMI! WHile most of the rest of the country is still dropping. So, the doom-and-gloomers who predicted that SoFla prices are in for a perpetual slide seem to be off the mark. So much for predictions, those of us who know Florida also know that we are unique, we have high value to most people, and that our prices are really not out of line with the other major metro areas across the country. The only problem is that we are no longer a cheap bargain, we are priced where we should be. Also, now that we’ve gotten rid of that Bush idiot, the new governor has attacked the insurance industry head-on, and looks like he is winning. My insurance renewal cam yesterday, with a DECREASE in premium! Once we get taxes in line, the market will go into a full recovery. Sorry to those who waited to buy, the bottom has been reached fellas…

By Mike Fink

January 30, 2007 5:36 PM | Link to this

Sorry to those who waited to buy, the bottom has been reached fellas…

Yeah, only 3.5 years of inventory to go through! You might get that past on some people, but not here. I have not seen a single statistic that points to a bottom being “found”. Everywhere I look I see priced reduced and seller motivated signs.

RE corrections do not play out in 9 months, especially after 5 years of unprecendted boom.

By John (Boynton bch)

January 30, 2007 7:42 PM | Link to this

We are no where near a bottom. I do wish prices would drop so people can upgrade since they are being held financial prisoner in their own homes. I would’nt mind upgrading myself but the taxes are so outrageous. I know of many people who are looking to get OUT of FL. Just wait a couple months when families add more inventory to the mix with the end of the school year approaching. This massive correction will be painful for many. It may take a few years but it will bring some people to their knees.

By Mike Fink is in denial

January 30, 2007 8:16 PM | Link to this

Mike Fink is in complete and total denial

Hahahahahahaha

The Beak is warped

Hahahahahahaha

Rich R is really into timeshares in Walnut Grove Trailer Park and Car Wash

Hahahahahahaha

Max is the real estate equivalent of Michael Savage

Hahahahahahaha

Cw1900 is Ward Cleaver on a paid in cash long board

Hahahahahahaha

Easyasabc is the modern day Wavy Gravy, peace baby

Hahahahahahaha

These cast of characters are out of their minds and I’m going to go watch American Idol with Signed

Hahahahahahaha

By to John (Boynton bch)

January 30, 2007 8:29 PM | Link to this

John, I’d feel as you do if I lived in Boynton. I feel for you man, I really do.

By maxmoose03

January 30, 2007 8:53 PM | Link to this

Captain Easy writes: I am not into foreign languages, but I have dated women from Canada, France, Germany, UK, Hong Kong, Brazil, Poland, Argentina, Spain, Netherlands, Italy and Ireland. Does that qualify me as multi-culture?

No, Captain, it just means we have BOTH dated your Mom.

By maxmoose03

January 30, 2007 9:03 PM | Link to this

COMING ATTRACTIONS:

Signed forgot to sign on under another name and compliment his own sense of humor (no one else will).

Captain Easy will be here, possibly under a nom de plume, to make Mafia threats against the Moose.

Price will think of another movie character from 1936 that Max reminds him of. 1936 was a big year for Price: his sweet 16.

By Signed

January 30, 2007 9:14 PM | Link to this

“How I wish, how I wish you were here.

We’re just two lost souls swimming in a fish bowl, year after year, Running over the same old ground.

What have we found?

The same old fears.

Wish you were here.”

Signed,

Max dreaming of his imaginary women and wishing he and Easy would kiss and make up.

Drat, my shoes are untied again and there’s a piece of toilet paper stuck to the bottom of my shoe. Why does this keep happening to me??

By cmgr

January 30, 2007 9:32 PM | Link to this

The inventory as of last month per FAR was only 9-months; not 3.5 years. PBC median price has bottomed and now swung back to the appreciation side for the past four straight months in a row. That’s more than one business quarter. If you’re looking for the bottom check the rear view mirror and look hard; it’s disappearing on the horizon boys.

What’s that up looming large in the windshield?

$500K median for PBC.

Manifest destiny: you can’t stop Palm Beach.

By 500k median

January 30, 2007 10:10 PM | Link to this

500k median price in pbc can be achieved in 3 1/2 years at a conservative appreciation rate of 8% annually.

By INTERNET MADAM

January 30, 2007 11:36 PM | Link to this

Maxmoose03, you are behind the times. You said………

What we really need is some high-class whorehouses, in beautiful new buildings with different themes,

Sorry Max, but this has been around for awhile now and the Syndicate/Mafia fronts the operation from New York to L.A. down to Miami where business is booming this week for the Superbowl.

BTW Maxmoose, you can be sure that any and every syndicate family member from Chicago is in South Florida this week for the Superbowl. The Family never makes threats. They only deliver on their promises.

If you want to meet me this weekend at the Superbowl, I will be in Section 140 with the Family members from Chicago.

By Mike Fink

January 31, 2007 12:01 AM | Link to this

100,000 homes for sale in the SE Florida market. I have been waiting for this milestone; I thought it would be May timeframe (as the sellers realize they have to carry another summer before they can even hope of moving these homes).

Only 100K left, better get’em while they are hot.

http://www.housingtracker.net/askingprices/Florida/Miami-FortLauderdale-MiamiBeach/

By To Cheerleaders

January 31, 2007 8:46 AM | Link to this

Around Dec/Jan last year my wife and I, who had just moved to the area a few months before, seriously considered buying a home in 33458 that was listing for 515k. At the time it was favorably priced compared to other homes.

We decided that we didn’t want to put down that kind of money on a 3/2.5/2 without much of a yard, even though it was fairly new. So we decided to rent for a year, save our pennies, and buy later.

And for your irrational whack jobs out there (maxmoose, easyasabc), we make about 2.5 times the county median for a family of 4 in PB County according to HUD stats.

That same house has been on the market for the past year and is now listing for 429k. I’d bet we could get it for 400k if we made an offer.

If we listened to you cheerleaders, we would have lost all our equity in the house and would probably be upside down in the mortgage.

As soon as some schmuck on a blog starts talking about Palm Beach’s “manifest destiny”, you know its a great time to not be buying real estate.

Max and Easy, let’s hear how many properties you’ve bought in the past year if this is such a great market. Probably none, you can’t afford it. You are cowards, and you don’t have the courage to put your money where your mouth is.

If there are any potential buyers out there, do your own homework and don’t listen to these crazies.

By easyasabc

January 31, 2007 9:12 AM | Link to this

How low have some Realtors become. Max, you have no class at all. How old are you? It might be alright to make fun of some of us here, but to talk about my mother! You know what Max, if I saw you out in the street, I would kick your a*s. I would give you the same a*s beating as I gave the last guy who made a remark about my mother. I was told it took him months to recover.

This is what Realtors are like people. Unprofessional, uneducated, a******s! We have to rank Realtors as scum of the earth in the same category with “used car salesmen”, “corruptpoliticinas”, “child molesters”, “ambulance chasing lawyers”, “tow truck drivers”, and “crack whores”. Did I miss anyone else? If I did, i know “signed” will tell us.

Max, say you are sorry, or just remind yourself how big that ocean is! I will still kick your a*s, you are just saving yourself from a three hour cruise! One way!

Max, you really have no balls.

What sorrowful loser of a Realtor that Max has to be.

By Next Subject

January 31, 2007 9:27 AM | Link to this

I know this story will get the NC people going…….

There is a movie called “Hound Dog” with a child actress named Dakota Fanning in it. The moview was filmed in North Carolina last year. In the movie, the 12 year old child actress gets sexually assaulted in a rape scene. The North Carolina State Film Division invested in this movie. They also gave a $600,000 tax credit to the movie producers. A NC state senator named Berger is outraged that the state is losing funds that can help “many needed” social programs in NC. Senator Berger told a CNN reporter how he wants to pass a law to have the state “oversee” all movie scripts and stop giving out large tax credits to movie companies. NC ranked third, behind NY and CA in th movie business. The movie producers love all that free public tax money they get from NC, and the taxes they don’t have to pay. Who picks up the bill? The “half-backs” moving into NC.

North Carolina….”First in Flight”….”First in Child Porn”…..”First with Losers”

I have to say this should get Wednesday morning off to a good start.

By easyasabc

January 31, 2007 9:33 AM | Link to this

The 90% “have nots” will not be missed. I can see the headlines now….”Palm Beach Post Cuts Jobs”

There are many great little antique shops in NC for Linda.

Jeff can be the first reporter to establish a web site for a local newspaper in NC.

They will not be missed!

easyasabc

By crazydem

January 31, 2007 10:00 AM | Link to this

Fink If the inventory will take 3 years to clear out why are you attending RE auctions at the Hard Rock on the weekends? No one has responded to my question about why they spend so much time researching an asset they don’t own and don’t plan on buying anytime soon. Do you realize how much time you are wasting that could be put to good use?

Also-to the guy bragging about almost buying a house with no lot line for $500K-that house is worth about half that if it doesn’t even have a yard. Houses with lot lines and good locations have not gone done by 20%-they’ve been rising…You missed the boat.

By easyasabc

January 31, 2007 10:10 AM | Link to this

To Cheerleader

I am glad you are saving your pennies. It is your dollars that us Landlords want as you rent. Got here long before you at a much lower rate. And someday, I will sell at a much higher rate! And will have a bigger investment return than you will have.

I really think you are another “have not” who is a bitter non-buyer. Anyone looking at HUD stats is collecting food stamps I say.

It is Max, who does not have the courage or the balls in life. I bet that pyshco Dot b***h realtor works for Max.

Welcome to Florida Renter!

LOL

By cw1900

January 31, 2007 10:25 AM | Link to this

Notes from cw:

To John in Boynton, if we do see an upsurge in homes on the market this summer by families putting the home for sale once the kids get out of school, I can only say it seems a little typical and amateurish by people who have the herd mentality and don’t know what they’re doing. First off, there is not enough time to potentially sell the house and move in time to get the kids in school at the new utopia location. Rush and panic always leads to unwise decisions and the crowd you are describing tends to make those kind of unwise financial decisions. Nothing new there.

To “To Cheerleaders”, I haven’t purchased anything in the past year here and I’ve given my reasons why. Re-read old posts from me, very detailed. Good for you, nothing wrong with taking advantage of desperate sellers, go for it, but this will work itself out, and imho, sooner, rather than later. The signs are slowly starting to show.

My wife’s teacher friend came into school yesterday bit@hing about the homeowners insurance bill that came due. $2000 more than last year. That sucks as we all know. You all know I’m the cheapest SOB on the blog as one of you put it awhile back, so I ran some numbers on this middle class, suburban family in yuppieville Palm Beach County.

My “I don’t feel sorry for them” Reason #1:

She told my wife that the husband’s already figured out their tax refund of $4000 and so they’ve made their reservations for skiing in Utah. That money, already unwisely loaned interest free to the govt for the past year, and now that Uncle Sam is giving it back, these winners have it p!ssed away before they even have it.

My “I don’t feel sorry for them” Reason #2:

Two leased automobiles she tells my wife about constantly. Total monthly lease payments on two cars they can’t afford to buy so they rent them to try and impress us and you, a whopping $1100 combined every month! We’re not impressed and neither is anybody. They’re leased (rented) and they can’t afford them.

My “I don’t feel sorry for them” Reason #3:

These two financial wizards head out every morning and rush straight to Starbucks in their rented $1100 per month cars. They each buy a cup of coffee for $4 each. That’s $8 minimum 5 days a week. I won’t even count the weekends. $40 per week times 52 weeks per year is $2080 per year they blow on a stinking cup of coffee that didn’t even beat McDonalds in taste when Consumer Reports did a recent comparison between a bunch of coffees. Go google the taste test. Read it for yourself and laugh. If these two idiots would go buy a $25 dollar coffee maker and make their morning cup at home, and stop throwing it away at Starbucks, my second grade math tells me there’s the extra insurance money right there.

I have never been to a Starbucks. Maybe that’s one of the reasons my networth is statistically 3 times the avg household making double what our family household is, and I can sleep at night. People, this is pretty easy stuff. Sit down one night instead of sitting in front of the tube and figure out where you burn your cash. You will be shocked. Funny thing is, most of you will do nothing about it because you feel some need to try to impress people you won’t even live near or be friends with 20 years from now. The part that makes me mad is some of you same people I have to listen to your whining about how you can’t make ends meet. Shut Up! You will never learn.

Lastly, I have noticed some other trend lately. Most of you know I have two houses here in PBC I have rented out for many years. A few years ago, I started getting in the mail, enough to notice, mailings from wholesalers wanting to purchase “your” house, etc. These are companies such as the We Buy Ugly Houses ads you may see from time to time. They are wholesalers who try to purchase properties usually from distressed situations. They must buy at least 25, 30, 40% under retail to make their business work. 2004, 2005, I would receive probably 5-10 per week, every week from various companies. Last year they sold to a trickle, but still I rec’d them. The last 6 months I would receive maybe 1 a week. The past two months I have noticed the mailing have started up again with more regularity. Yesterday’s mail, I had 2. The past two weeks, I’m thinking I’ve rec’d 5,6,7. Bottom line, I’m not sure what this all means, but some of them think maybe they can get some bargains now to make money on in the next year. They’re looking for inventory now to sell at higher prices after they rehab. That tells me they are looking less than a year out if they are heavily mailing now. They want to buy now, close within 30 days, rehab the place, maybe two months, and then sell it for a profit. That can be in the next 6 months. Food for thought.

That’s enough for today.

cw

By easyasfuk

January 31, 2007 10:51 AM | Link to this

“90% of the people who work in Palm Beach County cannot afford to buy a single-family house here.”

Good. Once 90% of Palm Beach County leaves that will leave Me, The Donald, Rush and easyasabc to do as we please around here without the worry of all of these “have nots” in our faces asking us how we made it.

Life will soon be good in Palm Beach.

Signed,

easyasfuk

By Closecall

January 31, 2007 11:02 AM | Link to this

To the writer who nearly bought into sinking mkt.

Disregard dispargement from cheerleaders guarenteed by your post. They must humor each other in this little fantasy world where each is a RE legend in his own mind.

Keep paying attention to the reality going on. With patience and continued tracking you will be getting much more home at more reasonable cost when mkt forces finish their magic.

Cheerleaders should be looked at as amusing side note of the unfolding RE drama under way in SoFl.

Already, some of their posts from last year are classics of mis-analysis and mis-information. As their continued detachment from the real world goes on, current posts will be equally hilarious next year.

By explain yourself

January 31, 2007 11:19 AM | Link to this

to closecall.

again, nobody has answered my question from above.

to closecall. what is your story? are you a renter or an owner?

as i said before, the cheerleaders at least give some info on their personal financial info. the naysayers say nothing of what they have.

Keep in mind, not all owners are cheerleaders, and not all renters are naysayers. I’ve read plenty from owners who are not total cheerleaders and vice versa.

What I have read from the majority of renters is glee as they tell us some negative statistic, but never say if they actually have any kind of accumulation of any net worth to speak of.

I know two couples in NYC who have never owned a piece of real estate in their life. They rent there, but they have more network than I could ever imagine.

So, that is not where I’m going with this. Just because you don’t own real estate means you are a loser, and vice versa.

I just want the renters and naysayers to at least put their big talk where their big mouths are, as the cheerleaders at least do.

By So True

January 31, 2007 11:47 AM | Link to this

A very good post from “cw”. How true it is that these “have nots” just pissed it away when money is in their pockets.

I have been noticing a trend of how Broker/Realtors are trying to buy up cheap property to “flip” them this spring. They also know that….”as we speak, the prices will be going up”.

If you did not buy in the past several months, you have once again….missed the boat.

What a beautiful day in Palm Beach.

easyasabc

By amen

January 31, 2007 11:51 AM | Link to this

Amen to the bashers not giving any info. Why? They probably have very little. Let’s see it!!

What’s even funnier than that?

The newest cat fight between easyasabc and maxmoose03. those two drag queens have now been downgraded to name calling and who’s mother wears army boots.

I think they both have been just deemed TOTALLY IRRELEVANT.

Is Signed going to have a field day with these little boys?

By To explain yourself

January 31, 2007 12:09 PM | Link to this

What makes you think that the cheerleaders are putting their money where their mouth is?

The simple fact that they have not bought anything since the market peaked means that they are in the same boat as the renters. They either can’t afford to buy, or they think this is not a wise time to buy.

If Easy were such a genius, his mom wouldn’t be !@#$%^& Max and he would buying up the county. But he isn’t. He either doesn’t believe his own talk, or he is one social security check from being a have not.

By Related in Muzik

January 31, 2007 12:27 PM | Link to this

When I think back On all the crap I learned in high school It’s a wonder I can think at all And though my lack of edu—-cation Hasn’t hurt me none I can read the writing on the wall

Kodachrome They give us those nice bright colors They give us the greens of summers Makes you think all the world’s a sunny day, Oh yeah I got a Nikon camera I love to take a photograph So mama don’t take my Kodachrome away

If you took all the girls I knew When I was single And brought them all together for one night I know they’d never match my sweet imagination everything looks worse in black and white

Kodachrome They give us those nice bright colors They give us the greens of summers Makes you think all the world’s a sunny day, Oh yeah I got a Nikon camera I love to take a photograph So mama don’t take my Kodachrome away

Mama don’t take my Kodachrome away Mama don’t take my Kodachrome away Mama don’t take my Kodachrome away

Mama don’t take my Kodachrome Mama don’t take my Kodachrome Mama don’t take my Kodachrome away

Mama don’t take my Kodachrome Leave your boy so far from home Mama don’t take my Kodachrome away Mama don’t take my Kodachrome

Mama don’t take my Kodachrome away

By interpreted

January 31, 2007 12:30 PM | Link to this

When I think back On all the crap I learned in high school It’s a wonder I can think at all And though my lack of edu—-cation Hasn’t hurt me none I can read the writing on the wall

(above daydreaming by easyasabc)

Kodachrome They give us those nice bright colors They give us the greens of summers Makes you think all the world’s a sunny day, Oh yeah I got a Nikon camera I love to take a photograph So mama don’t take my Kodachrome away

(above daydreaming by easyasabc and maxmoose03 when their RE wasn’t in the pit of despair)

If you took all the girls I knew When I was single And brought them all together for one night I know they’d never match my sweet imagination everything looks worse in black and white

(above daydreaming by maxmoose03)

By easyasmom

January 31, 2007 1:16 PM | Link to this

Hello Max,

When are you coming over today?

Signed

easyasabc’s mom

By easyasabc

January 31, 2007 1:36 PM | Link to this

“Amen” should know something about being a dragqueen. Must be some priest hiding in a closet, mad because the Feds will take away his property he bought on stolen church funds.

Paul Simon Singer, you must be at home with no job, listening to your 78 rpm record collection. “Trouble Waters” are ahead for you if you can’t make your payments! Could be a Realtor scanning the death notices to see where their next MLS listing will come from.

To “explain yourself”, no need to explain yourself…..another “have not” who has nothing else better to do in life but to show what kind of a*s he/she is. I know I have it, and you don’t. Mad about rising prices???? you have seen nothing yet! And something about your mother….. To bad the best part of you ran down your mommy’s legs…….OH, that was bad!

I know, you want to kick my Palm Beach a*s……sorry, I don’t fight little girls, the metally disabled, or old farts. What I will do is…..hire and send any little girls, mentally diabled and old farts to kick your a*s.

Gee, rent is due this Friday. You “have nots” need to whistle as you go to work every morning to pay your bills. HI -HOOOO HI - HOOOO….

You know, you either have it or don’t life. Some people have more money than I do, and many, many others have lot less money than I have.

I am not jealous of the Gates and Trumps of the world. But it sure seems that “easyasabc” gets to the best of you out there. I feel sorry for those people…..not really.

I wonder what is the latest porn-child rape film that is being filmed today in Raleigh?……..what a sick minded state……something like a Florida Real Estate office!

Life is good in Palm Beach

No more mother remarks….Guys, try to act like Gentlemen. Ladies, keep on being whores for your man. And try to make and save some money, so you won’t have to be labeled as a “have-not”…….so embarassing to have this type of crowd hanging around Palm Beach.

Where did all these uneducated, peckerhead, monkey breath, dickless, hillbillie cross breed, rednecks come from??????…..North Carolina?

MAFIA in town! Oh man, do I have a list for the Godfather.

Madam has tickets for the Super Bowl!……Lucky B***h……..I still rather stay at home and eat my own food and use my own can.

Lets all get back to talk about Real Estate here.

easyasabc

By Rich R

January 31, 2007 1:53 PM | Link to this

Easy, it’s time to have those med’s adjusted again.

Do you have ANY life outside of this blog? At all?

Just drop in from time to time and it’s amazing to me that you people really babble the way you do.

Just too funny.

By What did you buy easy?

January 31, 2007 1:53 PM | Link to this

Well easy, lets talk about real estate. Have you bought any property in PB County in the past year? If so, what kind of property was it, and generally where was it.

If you haven’t bought, why not? If prices are going up, it should be like stealing candy from a baby (or Max).

By crazydem

January 31, 2007 1:56 PM | Link to this

Let’s get this conversation out of the toilet. Besides, the sideliners are still whiling away their hours perusing ebay/craigslist/PB Post for RE classifieds.

Anybody been to Solid Gold yet? Hear it beats Rachel’s…

By easyasabc

January 31, 2007 2:50 PM | Link to this

Yes Rich, I do have a life…..I bake pies in the morning at the Publix bakery, clean pools at the Breakers in the afternoon, collect the rent on the 30th of every month, polish my teak wood on my yacht every other weekend, try to p**s off the “half-nots” now and then, rub oils on my girlfriends body, deposit checks, sit in the sun and drink colorful drinks, remove NC tags from autos, sneak rich, white Americans across the Mexican border, peak through my young female neighbors window, play cards with a few judges, visit California and play golf with mexican illegals, collect turtle eggs, visit the gun range, and laugh at all of you.

Crazydem, these non-buyers are a waste to deal with. I think it was CMGR who said it the best…”let them keep paying the rent”…….and the realtors who have not making money here, are really desperate. Did you notice the one RE office who put their listings on the site? Guess who works there? That psycho b***h, DOT. The one who is after some guy named john with a tract house she says, and thinks its me. What an embarassment to that RE firm to have her.

RCA, I don’t need to open up my books to some guy who drips pudding down his shirt. What will it get you? Only to be more jealous of people like me. Forget about it!

I had a busy day of making money while writing to all of you.

Makes the day go by faster………Yes, life is good in Palm Beach.

Don’t forget the rent!

easyasabc

By Easy is scared to buy

January 31, 2007 4:23 PM | Link to this

Did you all notice that easy is scared to purchase any r/e here? If he’s so rich, he can afford it. But he hasn’t bought anything. Why?

Because he doesn’t believe his own line of bull. All you renters need to know is that even the cheerleadrs aren’t buying now.

By maxmoose03

January 31, 2007 7:30 PM | Link to this

Well, Easy certainly provided the kind of inetertainment I was hoping for, although he was not very convincing writing as Internet Madam, who knows several of us Max’s personally.

Easy likes to dish it out, but he doesn’t like to take it. That was just a reminder that he is not very talented at dishing it out, and is going to have a bad time of it if he insists on a contest.

As for the question someone posed …. when was the last time I bought property in Florida…the answer is about 4 months ago. And it may be time again.

I am always buying. I am always selling. This herd mentality whereby everyone tries to buy or sell at the same time causes these peaks and valleys that have no meaning to a long-term owner. It makes a good story though for the Palm Beach Post, or for “Closecall” - who can spend the rest of his life telling the epic story of how he didn’t buy a house. (Does anyone out there understand how small this guy is making his life?)

Finally, a comment on the rental situation, which is just out of hand. I have people fighting for the privilege of paying over 1800/month for a 1 br condo. They race each other to see who can get a contract delivered the fastest. I realize there is no practical limit on what you can charge. Values are directly related to NOI.
Yep, prices are rising.

By Steve

January 31, 2007 9:18 PM | Link to this

Got popcorn? Watching sleazy and Maxloser(pipe dreamer) fight would definitely involve some hair pulling, biting and scratching.

By craigsgotmorethanmaxi

January 31, 2007 9:43 PM | Link to this

Maxi- take a peek b4 u embareass(sic) u slf anymo.

http://westpalmbeach.craigslist.org/search/apa?bedrooms=1&maxAsk=1800&minAsk=1200

By waste of time

January 31, 2007 10:31 PM | Link to this

to craigsgotmorethanmaxi,

that’s it? that’s all u got?

if you think that is a glut in that price range on that site, you are such an amateur, you wouldn’t even believe it.

go away and play with your big wheel.

By rca

January 31, 2007 10:57 PM | Link to this

for the housing crack babies.

100,000+ properties on sale in south florida.

south JONESTOWN florida

drink the koolaid!

By INTERNET MADAM

January 31, 2007 10:59 PM | Link to this

Max,

Of course I know you personally. The FAMILY is in town this week and are looking forward to meeting you sometime since I told them so many things about you and everything I know about you. If they don’t get to meet you this week, they tell me not to worry and they will find you and meet with you another day in the future at their convenience.

Actually, the FAMILY has known about you and your allies for some time now. They want to let you know how important I am to them, how I am related to them and how much I mean to them and want to communicate this to you personally.

The FAMILY is very protective of me and they tend to step in and take charge of a situation when they know they can accomplish a specific task with their specialized experience.

You see Max, I take care of business one way, and the FAMILY takes care of business from a different perspective.

Now don’t forget, we will all be in Section 140 at the game on Sunday. If you are there, come and see us.

We will see who wins this game my fine little friend. Sometimes your BEST DEFENSE can be the strategy of the OFFENSE. I always say “Hit them where it hurts. The best place to hit someone is in the pocket”. Some players in this game are going to be so sacked, it will take them years to recover financially.

For Easyasabc,

If you think I am a real B#$CH, you should meet MY mother.

Have a great weekend to all.

GO BEARS !!!!!!!

By maxmoose03

February 1, 2007 2:31 AM | Link to this

Internet Madame:

You know that I (Max #3) only accept personal messages from yuou in French. A very rudimentary encyption system, but it keeps out interlopers like Easy.

You also know, cherie, that I do not know anything about American football, and that for me football is something where you actually use the foot. How illogical the rest of the world is outside America.

I still have not figured out other American cultural standards such as driving on a parkway, and parking on a driveway, but I suppose I will not learn all this tonight.

More topically, let me add to what “Waste of time” said by noting tht I went to see the “bargain” rentals at Prado. The $1000/month deal was a studio the size of a closet, and they are gone. Starting at $1200 you can have a 1 br under 900 sq ft directly facing Cracktown. I am not saying there is anything wrong with the building for what it is, and where it is, hopefully you have accepted that en connaisance de cause, so to speak. But to hold this up (as Prices does) as an example of bargain rents — that’s a bit foolish.

By Niceselection

February 1, 2007 7:39 AM | Link to this

Some VERY nice options. Has anyone here used craigs list. ? Is this as much a threat to realtors or are realtors also using this ?

http://westpalmbeach.craigslist.org/search/apa?bedrooms=1&maxAsk=1800&minAsk=1200

By Mike Fink

February 1, 2007 8:40 AM | Link to this

Nice:

RE people are using Craigslist, if you look, most higher end homes for rent are listed with an agent.

However, your point remains valid, there are some VERY nice homes on that list. If your curious open the range up to 3K. You should start to see some homes show up in Frenchman’s, PGA National (on the golf course), and some homes with deep water dock. Oceanfront homes are going to be quite a bit more then that, but even at 1500/mo, you can find a place that opens onto the sand (condo).

I actually found the RE agent for the home I am renting right now on Craigslist. It’s a good resource.

By Niceselection

February 1, 2007 8:59 AM | Link to this

I did change $ ranges also. From what I saw, the moose that is fighting off offers of 1800 for a one bed must have one hekofa condo.

Don’t tell the moose people about craigslist they will be filling the blog with extraneous verbiage to try hiding from reality again.

By crazydem

February 1, 2007 10:10 AM | Link to this

Everybody get their rent in on time? My guy pays cash. It helps to bring the dog along when collecting, seems to speed things up.

By achat rapidement

February 3, 2007 12:18 PM | Link to this

Évidemment le maxmoose convient que les prix doivent chuter plus loin ou il achèterait maintenant avant que les prix montent.

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February 5, 2007 7:24 PM | Link to this

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February 8, 2007 1:39 AM | Link to this

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