By The Left Leaning Post

June 29, 2007 3:29 PM | Link to this

The Post’s 4 year media gang-bang of real estate continues! The Miami Herald reports this week that single family housing sales in Miami-Dade are UP STRONG…8% yearly and 5% last month AND that condo sales were UP also! Why doesn’t the Post report Miami-Dade sales…because they DON’T want readers to know that the market is rebounding. Miami-Dade is the worst place in South Florida but has the strongest market. The Post’s assault on real estate* uses foreclosure consultants masquerading as unbiased real estate experts whose always doom and gloom forecasts scare away buyers!!*

By The Left Leaning Post

June 29, 2007 3:31 PM | Link to this

The Post’s 4 year media gang-bang of real estate continues! The Miami Herald reports this week that single family housing sales in Miami-Dade are UP STRONG…8% yearly and 5% last month AND that condo sales were UP also! Why doesn’t the Post report Miami-Dade sales…because they DON’T want readers to know that the market is rebounding. Miami-Dade is the worst place in South Florida but has the strongest market. The Post’s assault on real estate* uses foreclosure consultants masquerading as unbiased real estate experts whose always doom and gloom forecasts scare away buyers!!*

By The Left Leaning Post

June 29, 2007 3:31 PM | Link to this

The Post’s 4 year media gang-bang of real estate continues! The Miami Herald reports this week that single family housing sales in Miami-Dade are UP STRONG…8% yearly and 5% last month AND that condo sales were UP also! Why doesn’t the Post report Miami-Dade sales…because they DON’T want readers to know that the market is rebounding. Miami-Dade is the worst place in South Florida but has the strongest market. The Post’s assault on real estate* uses foreclosure consultants masquerading as unbiased real estate experts whose always doom and gloom forecasts scare away buyers!!*

By More Woes

June 29, 2007 4:38 PM | Link to this

The Hulkster is not the only one with woes these days. I know my assistant has to deal with looking for a new entertainment director. Good old Paulie got his bosses in some deep troubles, and Paulie can’t find a way out. J. Cook was told not to throw a lifeperserver to Paulie. Before he knows it, he will be losing his house, condo, business and other assets. When it is all said and done, his wife will leave him and marry a local divorce attorney who has an office on Palm Beach Lakes Blvd. Anyone interested in buying Paulie’s home before the wife gets it all?

By troubles ahead

June 29, 2007 4:44 PM | Link to this

depositions, depositions, depositions.

All will be known.

It will be a very high price to pay.

By Old Dog Realtor

June 29, 2007 5:54 PM | Link to this

The real estate, comes tumbling down…The real estate, comes tumbling down…The real estate, comes tumbling down… Tumbling tumbling, tubmling tumbling down!!!

By INTERNET MADAM

June 29, 2007 9:57 PM | Link to this

Madam needs a vacation now after working so hard so she could roll out her latest and greatest version of IPOD porn in time for the new IPHONE released this week.

Went to Lake Tahoe last week to take this much needed vacation but the fires there chased me out.

Don’t know what it is but where ever Madam goes for a vacation, natural disasters follows. Have been in earthquakes in Mexico, volcanoe eruptions in Hawaii, hurricanes in Florida, “67” snow blizzard in Chicago and in a very dry hot summer last summer in Dallas. Going on a cruise in the Greek Islands in July with several brave friends. Maybe I will watch the movie the “TITANTIC” before I sail off to the Greek Islands for good luck. Can anyone suggest any “hotspots” in Greece?

 Au revoir

    MADAM

By Chris Benoit

June 29, 2007 10:40 PM | Link to this

Let me show the Hulkster how to solve his housing problems in a few easy steps.

By The Truth

June 30, 2007 6:30 AM | Link to this

To the “Left Leaning Post” web commenter: you are an absolute idiot of immeasurable proportion. It’s quite obvious your current or former job capacity was as a realtor or lender. Must be tough going from 75K-100K a year for something you know noithing about to your more than likely 30K job waiting tables and posting your ignorance here. What a fool!

By francotirador

June 30, 2007 9:04 AM | Link to this

Yes, The Left Leaning Post is a fool and he wants us to join him. The Ponzi scheme is over. It’s quite obvious that people who make 30K a year cannot afford 300K houses. It’s going to get a lot worse before it gets better. The foreclosures will pile up. That in turn will cause prices to drop precipitously. Anyone who jumps in now because of a price drop of 10% is a real fool. What’s the big deal with 10% when prices have increased 100% in the last few years?

By 400K in DADE???

June 30, 2007 9:16 AM | Link to this

Did Curious say the median house price in Dade County was over 400,000?

FOUR HUNDRED THOUSAND? In DADE?

And the doomers think prices are DROPPING????

ARE YOU OUT OF YOUR F—— MINDS???

By Jack Tripper

June 30, 2007 12:01 PM | Link to this

$400,000.00 for a house in Dade County?? Why would anyone pay that much to live there? I mean, if living amidst violent drug gangs, and where no speaks English is your taste, why not move to Mexico, or Central America? There, you can have all of the atmosphere of Dade County at a tiny fraction of the price!

By south fl is a joke

June 30, 2007 8:05 PM | Link to this

Who,would want to live in South fla,being a millionare?Especially in Miami.Go,to San Diego at least you can drive to the beach,the mountains,desert and to Vegas in 5 hrs.And have nicer weather,in the summer.Instead of the swamp and living around old people and being bored.

By Robert

July 1, 2007 12:44 AM | Link to this

“Left Leaning Post” is just a frustrated realtor who is cherry picking numbers to give an upbeat assessment of the market. Yes, the median sale price in Miami-Dade did increase to 400K but sales sliped a whoping 44%, leaving only 494 homes sold on the MLS for May ‘07(did you miss this fact??) with a county of well over 2 million people. The inventoy of homes and condos in Miami-Dade is staggering and even more is being buit right now, while sales go off a cliff. Prices are usually last to adjust after sales have slipped and sellers start to get more desperate (there are those that MUST sell and will have to take a hit).

Want to know who the market is doing? Ask some sellers! I’m sure they’re not going to tell you many good things.

By Don't Be So Sure

July 1, 2007 1:07 AM | Link to this

“Want to know who the market is doing? Ask some sellers! I’m sure they’re not going to tell you many good things. “

Long-time commentators on this board such as TANC have recently shared the news of their success at selling their homes in the past couple of months. This is immediately ignored by people like Rich R. who retell, for the thousandth time, the story of his neighbors who lost 100K on a house (after doing 75K in irrelevant remodeling and selling only a year after purchase).

There is NO question we have returned to the days when a house is not a liquid asset. This is extremely frustrating for young sellers who thought they could unload a house like they sell a stock.

At the same time, the median prices are drawn DIRECTLY from FAR transactions, and can not represent something that is not in fact happening.

For this time of the year, prices have been flat since 2005. The market is slower. That is it in a nutshell. there has not been any crash, nor recent run-up: in short, the bubble the Post likes to talk about never existed, apart from a very brief post-hurricane spurt.

My advice: if you have a growing family and need a house, take advantage of the stupidity of people who lower their prices in a non-competitive market. There ARE some bargains out there — but that doesn’t mean we are returning to overall price levels of years ago.

By If Max Were Here

July 1, 2007 1:49 AM | Link to this

If Max were here, putting in a typical late-night appearance, he would say Hi to CW, AP and all his friends on the blog, whether he knew their current handles or not.

He would probably say the real estate market continues to be a non-story. The recent run-up for May reflects the same cycle as last year and the year before, and arguably many years previous. SFH median price may still rise a bit in the summer, but it must drop at the end of summer, after SFH buyers with kids have found a home where their precious darlings can attend the school of Mommy’s and Daddy’s choice in the Fall.

Median price is still within the “trading range” that Max defined in earlier columns. Depending on how steep the drop in August/September, we may emerge ahead of last year YOY.

Currently, median house prices are DEAD EVEN with last year - separated by four fifths of one per cent, which is what Max would call statistically insignificant. We only need median price to stay in the higher part of the 360’s in September to wind up ahead of last year’s numbers.

Naturally the Gloom and Dumb crowd, along with the Post, will seize upon the drop at the end of summer as their long-heralded price crash finally arriving. However, it won’t be. It will just be the normal cycle in a normal year, where people decry volume levels closer to traditional, as a crisis.

I am sure Max would get a kick out of watching the median and average prices rising over time, only to hear Doomers saying “Yeah but what about VOLUME”?

Max would try to point out to these people, who are bereft of common sense, that volume falls over the long term as prices rise. Something that is perceived as expensive does not sell as quickly as something that is perceived as NOT expensive.

In Miami Dade the the median price is an almost inconceivable 400K, and the silly hill-billies are crying “VOLUME! VOLUME! VOLUME!”

When the median climbs to 500K they will still be shouting VOLUME! VOLUME! If the median price were a MILION dollars a year they would still be shouting VOLUME!

Guess what, Goober. When the median is 500K the volume is going to be LOWER, not HIGHER. You can tout your supply and demand rhetoric all you want — your problem is you don’t know how to correctly interpret what is supply and what is demand.

SO what happens now?

The yearly comedy of tragically stupid sellers will be staged. This happens once the early summer rush is over, and everybody has gone on vacation (even Max). If there are 5 houses for sale in a community, Seller A panics, and lowers his price. Then his neighbor Seller B panics and lowers HIS price, and so on. This is so comical because nobody is here, and there are no buyers to even SEE these morons lowering their prices. Smart buyers fly into Florida in August every year, to see what bargains these idiots are offering. As Max pointed out before, there are plenty of depserate ones in August. Labor Day usually brings out enough bargain-hunters and advance scouts for the season, so that the tone picks up noticeably.

Max would take pains to point out once again, that both the Post and the Doomers will mistake this for a price decline, even though it is the normal yearly cycle.

I’m sure Max’s question to the fools like Curious advising people to lower their prices is: Does a price falling in the forest make a sound if there is no one there to hear it?

The bargains will be out there in August, if they are not there already. Just the same, we are on a normal track, even with last year, but with prices generally increasing over the years.

By And What if Max Were a Seller?

July 1, 2007 2:08 AM | Link to this

I’m confident Max would say, if you are a SFH seller, and you are not close to finding a buyer who wants little Johnny in your school district in the Fall, take a vacation from worrying about real estate.

Raise your price, and if you can afford to, get out of town. Forget about it for two months. Take a vacation from worry.

If you want, leave it on MLS just for grins. Don’t even check on whether people are looking, at this point they are just going to be bargain hunters anyway.

If your realtor calls you and tells you someone wants to make an offer, tell them to put it in writing — do NOT negotiate verbally. Verbal offers are not binding in the state of Florida, so usually they are from a turkey with no money to spend, looking for a thrill. Meantime, don’t hold your breath for anything to happen.

By Father Knows Best

July 1, 2007 8:12 AM | Link to this

**His house isn’t selling because Willadel Drive, where it is located in Belleair (a suburb of Clearwater), consists entirely of people in their 80’s & 90’s, wealthy old geezers who have no life other than to complain about Terry Bollea (Hulk Hogan’s real name).

Terry’s neighbors are rude, ignorant people who mostly inherited money from others but never spent a time on manners or education.

That’s what you’re buying when you buy his home.

He’ll never get more than $10 million. He overbuilt. It is about 30 miles from downtown Tampa, on an isolated street with no other celebs. Just duds who can’t wait to complain about you.

Is that worth millions?

Don’t think so.**

By Truth in Numbers

July 1, 2007 8:22 AM | Link to this

Mean, Median & Mode: Does the Public understand that real estate prices are droping dramatically, and still the MEDIAN SALES PRICE MAY INCREASE from time to time. This is because Median means that half of the homes sold above this number and half sold below this number. That all! It has no relation to the overall market. This is why realtors love to quote it. For example: With LOW VOLUME OF SALES (a fact) it takes a few homes selling north of the 400k mark to increase the median. This is entirely different from COMPARABLE SALES. Similar homes, similar square footage, similar age and amenities, in the same or similar neighborhood=comparable sales. Sellers reduce the ASKING PRICE the property stays on the market. FAR and NAR should release the following data that they have in their computers: DOM (days the property has been on the market, including previous listings because a “trick” is to relist to restart the DOM calendar, AND ORIGINAL listing price and current listing price AND what cash incentives offered (i.e. 10k for closing costs. which effectively lower the price.) The reason such data would never be released is that it would SHOCK AND AWE THE PUBLIC. I have a long list of real estate that has DOM in excess of 500days and listing price reduced 35% or more…that is my criteria. This list grows longer each month! More shocking, none of the properites have sold, (left the list) in the past 120 days…NOT ONE! From 2000 to 2005 residential real estate appreciated between 135% to 265% in south florida. Historically, it has apprieciated @9%. (Over any 20 year period.) Note Yale Econonmist singled out south florida, parts of Arizona and parts of California as parts of the nation that would experience a 35% to 70% DECREASE IN PRICES over a 3-5 year period. Then it would remain level for @2 years before rebounding. THINK IT CAN NEVER HAPPEN? It did during 1989-1991 in South Florida. Condos sat unfinished and foreclosures were the only property purchased. It took 8 years for the real estate market to take off, once again. The era of appreciation is gone. Robert Shiller says 3-5 year downward spiral. The facts, and history,(not salesman hype) confirm this. Inventory continues to grow. Once the foreclosures hit the resale market in a big way, that will impact comparable sales significantly.

By Father Knows Best

July 1, 2007 8:23 AM | Link to this

**Terry Bollea (Hulk Hogan) will never get above $10 million.

His home is on Willadel Drive, and isn’t actually in Tampa at all. It’s in a small, geriatric suburb of Clearwater called Belleair.

He made a huge mistake in overbuilding a beautiful home in a single-street neighborhood of doddering old fools who couldn’t overlook any opportunity to harass him.

You can use Google maps and just enter Willadel Drive, Belleair Florida as your search terms. Bollea’s home is on the water, looks brownish-tan from the air, backs up to a little finger inlet with boats in it. (it’s next to a hideous home with a large white patio and a tennis court.)

Three cheers for Terry in going somewhere that actually has some hipness to it. Tampa ain’t it.**

By Old Dog Realtor

July 1, 2007 8:58 AM | Link to this

The real estate, comes tumbling down…The real estate, comes tumbling down…The real estate, comes tumbling down… Tumbling tumbling, tubmling tumbling down!!!

By INTERNET MADAM

By Old Dog Funnies

July 1, 2007 9:38 AM | Link to this

LOL

Old Dog is so stupid he can’t even cut and paste his own paragraph without a mistake.

My 6 year old niece was correctly cutting and pasting to answer him last week.

ROFLMAO!

By Face

July 1, 2007 10:13 AM | Link to this

**Hogan’s home isn’t actually in Tampa. It’s in a geriatric suburb of Clearwater called Belleair. Go to Google maps, type in “Willadel Drive, Belleair Florida 33756” and look for the brownish-tan estate close to the finger cove along the water. That’s him. (Next to a home with a large white patio and tennis court.)

Hogan’s neighbors, a bunch of doddering old fools in Depends, harassed him nonstop. I’m glad to see him moving to a place a little more vibrant.

But he’ll NEVER get above $10 million in that crappy snake’s nest.**

By To: Truth in Numbers

July 1, 2007 10:16 AM | Link to this

The only truth you are showing is you don’t understand basic statistical indicators.

Mean is used because, as a measure of central tendency, it is LESS likely to be skewed by a few high end sales, than mean or “average.”

When you take average you get a HUGE rise. IPRE has their average sale up something like 100K since September.

Go see what Jeff reported Shiller had to say, in this very column, about South Florida. You won’t be quoting Shiller any more.

Median prices are up for the same reason average prices are up: prices have been rising since last September.

Your b******t list of properties just makes you pathetic, it does not show the movement of an entire population of houses.

By Truth in Numbers

July 1, 2007 12:45 PM | Link to this

Your counter “argument” of using “average sales price” is a straw man. To fairly represent a meaningful indicator, it would have to be a “WEIGHTED AVERAGE”. This would account for difference in sales prices: For example, the sale of one 2million dollar home would equal 4 homes sold at 400k. Without a “weighted average” the false result would be your bogus claim of an increase of 100k. My list that you distain though the use of slander comprises 137000 properties in Dade, Broward, WPB and Martin Counties. Of note, Martin County, once though real estate recession proof due to restrictive “no growth” policies has the largest number of requests for “short sales” in the state of Florida. (This data from Bank of Am, Sun Trust and Wachovia.) A short sale is a request by the owner for the lender to accept less than full payment of the mortgage upon sale. Most have been declined in Martin County because the borrows have the net worth to personally make up the shortfall, so the bank will look to them if a sale of the property will be inadequate to pay off the mortgage. Note: MBA, Finance-Minor-Economics 1978

By Old Dog Realtor

July 1, 2007 1:04 PM | Link to this

The real estate, comes tumbling down…The real estate, comes tumbling down…The real estate, comes tumbling down… Tumbling tumbling, tubmling tumbling down!!!

By To: Truth in Numbskull

July 1, 2007 2:54 PM | Link to this

Only an imbecile dismisses the mathematical processes by which all of science, technology, and virtually every other human endeavor operate.

If you yourself feel more comfortable seeing sales broken out by price range, go to www.ipre.com and you will see just that. You will also find out that more houses are selling now at the very low end, not just the higher end, and that all your theories are absolute crap.

We will have a price dip after the summer, the same as every year. By the end of the year we may edge ahead of last year YOY. In the grand scheme of things, prices are going up, not down, and that is why the statistics reflect that.

By Gossip

July 1, 2007 5:30 PM | Link to this

By The Left Leaning Post - What is your problem - your post is not instant and we do not want to read your reply 3 times!!!!

By Nascar WIllie

July 3, 2007 8:25 AM | Link to this

Hey Richie! People up here sayin the southern accent makin people sound downright stupid. Now when I’s travelin to L.A.- (dat’s lower alabama for u city slickers also known as the florida panhandle) ain’t nobody thinkin I stupid cause of my accent. Friend seys dey got the smae accent in North n South Carolini. Does people thinkin you stupid when you is travelin outside of north carolina Rich?

Another alabemeyite was complainin bout can’t get no job in any other place besides the god fearin south cause his accent. People takin him for some kind of hick just cause he talkin like a southerner. Richey, Does you think you could leave North Carolina now dat you got dat accent? I knows you went ot Priceton so I think you could cause you is smart.

NASCAR OUT!!!

By The Truth

July 3, 2007 10:25 AM | Link to this

The most important number right now to keep an eye on is the resale listings built in the past 3 years that are for sale. Those are your flipper homes facing foreclosure and/or slashed prices. I have tracked So FL market conditions for two national builders for the past 5 years and keep waiting on the Post to talk about the REAL DEAL (resale inventory homes).

By The Truth is a Dike

July 3, 2007 10:49 AM | Link to this

Your job is looking at things from the point of view of national builders, Love Puddle.

Homeowners are not national builders. I would only care about selling ONE house - my own. It only takes one buyer, and he could come from a neighbor, an MLS listing, or out of the sky.

As soon as the rumor spread that there could be a price “crash,” half of my neighborhood went up for sale. NONE of these people have a NEED to sell. They would just like to lock in huge profits which they would realize even at today’s prices. Most that I have talked with say they will withdraw their houses from MLS the minute they feel that prices are rising quickly.

Why sell the goose that lays golden eggs?

Everyone in the business of selling real estate should understand the difference between “Hard inentory” like builders have, and discretionary, or “soft” inventory, like most homeowners have.

By Shell Shock Lenny

July 3, 2007 11:35 AM | Link to this

Be Afraid.

Be Very Afraid.

By The TRuth was with your mom last night

July 3, 2007 3:25 PM | Link to this

Did you buy a home to make money or to live in it? I simply want the Post to do some research write about the soft inventory.

By Old Dog Realtor

July 3, 2007 4:44 PM | Link to this

….The real estate, comes tumbling down…The real estate, comes tumbling down…The real estate, comes tumbling down… Tumbling tumbling, tubmling tumbling down!!!

By fire and water

July 3, 2007 6:04 PM | Link to this

man, florida is both on fire and underwater.

From NBC 2. “The growing number of kitchen arsons is putting lives and homes in danger. Officials say the number of suspicious fires in Lee County has skyrocketed. Officials with the State Fire Marshal’s Office say that sometimes, homeowners purposely started their own home on fire.”

“Local firefighters say they have seen similar situations take place because the homeowner was just looking to collect the insurance money.”

“‘If I just leave something on the stove burning, say I have to go to the store, maybe I can get some money out of it,’ said Patrick Comer, of Lehigh Acres Fire.”

“So far this year, they’ve fought 18 fires and 10 of those were thought to be suspicious. ‘We got double those numbers in the first five months of the year and our population did not double,’ said Comer.”

“‘Are they behind on their mortgage payments and they’re trying to get out of a bad house deal? We’ve seen a lot of foreclosures, does that figure into it?’ said Comer.”

ATLANTIS FOR REAL!

By bull and s**t

July 3, 2007 6:24 PM | Link to this

THAT’S LEE COUNTY RETARD!

By inside information

July 3, 2007 7:26 PM | Link to this

Old Dog Realtor stares out his office window everyday watching the clouds go by and observing the junk yard dog scratching and sniffing himself. It reminds Old Dog Realtor what he has to do to his old lady that night. He only goes out to check up to see if his signs are still standing. Prices are tumbling down, so is his income with no sales out of his office.

By observer

July 3, 2007 8:30 PM | Link to this

Old Dog, what’s a “tubmling”?

By US MEDIA SUCKS

July 4, 2007 6:20 AM | Link to this

Some Independent Thoughts:

To Left Leaning: Please get a clue! The media, including the Post, swings whichever way nets them the most readers (aka sheep) reading their propaganda and buying it and anything the paying advertisers are selling! The vast majority of ALL MEDIA is owned by 5 mega for-profit corporations who really only care about getting as many buying eyes on their product as possible. Pure capitalism dictates that nearly all media will try to appeal to AS MANY sides as possible! But the Post “left” leaning? Don’t make me laugh so hard. The editorial staff is, fortunately, often a breath of fresh and OPEN-MINDED air (read ‘left leaning’) but the balance of this rag is mostly sensationalized, crapitalized propaganda…

Remember: Reporters are people too, with their OWN slant, but THEY DON’T EDIT THE PAPER!! Editors who report to ownership THAT HAS A specific AGENDA set the tone and content of any media’s outlet. WHY DO you think you can turn on local news anywhere in the country and see/hear the same pablum night after night after night?

The vast majority of OWNERSHIP of US MEDIA is decidedly on the fascist end of ‘right’ - that’s how media whores like rush, hannity, colter, etc., ad nauseam, have such a big mic. NOT because they earn it - but because OWNERship dictates it.

Regardless of which yakking head you are speaking of, THEY ARE PAID ENTERTAINERS, whose job it is to distract people from the truth, and KEEP PEOPLE SEPARATED/from talking TO each other!

SO PLEASE GIVE THE ‘LEFT-LEANING’ media commentary a rest!

Google WHO OWNS THE MEDIA and see for yourself…

To Old Dog: I guess they were right about not being able to teach old dogs new tricks, cuz you are barking the same old (boring) song every so many hours. Maybe you’d sell more if you took a break from the board?

And Truth in Numbers: One of the reasons one of the homes on your list are still there after price reductions is that MANY buyers were waiting for the Legislature to act on Taxes before deciding whether or not to buy… and THAT just happened a couple of weeks ago.

Now the oliticians pulled another hat trick and SCAMMED us on the tax relief, but it will have some impact because it will allow some fence sitters to move (literally and figuratively). You forgot to take this into consideration in your interpretation…

Bottom line when it comes to stats? Either side can interpret them (and/or manipulate) to suit an agenda.

But, Max or whoever it is that said the post should investigate soft inventory was dead on (Im in this category as are many of my neighbors). But! the POST is just one of many media that are often too content to just download the latest AP feed (read American Propaganda) and call it a day, so don’t hold yer breath on that one…

By Soft Inentory and Hard Heads

July 4, 2007 5:17 PM | Link to this

I think it was Max who used to talk about soft vs. hard inventory. I am surprised the talking heads don’t seem to understand this difference. Like CW, my house is on MLS, but I dont NEED to sell it. In fact, if everyone agrees prices are rising again faster than stocks, I will take it off. Why sell a winner if you don’t need to move?

At the same time there are thousands of people delaying a purchase until they think it’s a good time, or their own house sells. If these people start buying it only increases the number of sales, but for now they are sitting on the sidelines.

I have to believe with all these PhD’s sitting arround in our universities, someone has to be smarter than to talk about “supply and demand.” Because much of the supply is only tentative, and many people “sitting on the sidelines with cash” represent potential demand. Meantime, the soft supply registers on MLS and looks for all the world like people who need to sell. As noted, the realtors all claim “Reduced!!!” and all kinds of nonsense like that.

The reason actual selling prices have barely moved in two years is because that soft supply becomes no supply at all at lower price levels. I am astonished all the economics wizzy-wigs can’t figure this out.

By US MEDIA SUCKS

July 4, 2007 9:01 PM | Link to this

Dear Soft inventory: You wrote: The reason actual selling prices have barely moved in two years is because that soft supply becomes no supply at all at lower price levels. I am astonished all the economics wizzy-wigs can’t figure this out.

OK I am economically-challenged in more than one way - can you explain this better? Do you mean that the supply disappears when/if the prices drop?

By To: US

July 5, 2007 12:13 AM | Link to this

The supply disappears when the price offered drops.

The actual selling price is never going to get to the 70% decline some lunatics were projecting, because you, the supplier, say forget it long before that.

If you have a house that you list at 410K, it is very likely available at 400K. It might NOT be available at all at 350K.

If you don’t need to sell, you are not going to sell at a price you feel is unsatisfactory. Even if you are under pressure to sell, if you could only receive a price that would COST you money to close, you will likely just walk away from the house and let the bank worry about selling it. Everybody has a different threshold. Is your credit worth a 20K loss in closing? Maybe so. Is it worth 100K? A lot of us would have to think about that. A lot could simply not come up with a difference like that.

Nonetheless, the talking heads have a tendency to talk about “inventory” as though it is a constant at any offered price, and must be supplied even at unsatisfactory prices. That is clearly ridiculous.

And the idea that most people with houses listed on MLS are desperate victims who must sell come what may, is equally ridiculous.

“Supply and Demand” works great when you have continuous supply and demand functions for a homogeneous commodity. Farmer Brown takes his corn to market, where it will be sold, since there is nothing else to do with it, given that his wife will shoot him if he returns home with corn instead of cash. The price he receives will be set by the demand for corn, and one kernel is the same as the next.

Not so with real estate, where certain kernels are not available below a certain price. Prices still are determined by what buyers are willing to pay and what sellers are willing to accept, but sometimes there just isn’t a lot of agreement.

The result is low volume and prices that remain stagnant despite all the “supply and demand” rhetoric. Those who really need to sell reduce their prices, and this may produce some genuine bargains; but in an environment where many potential buyers are convinced the bargain prices are “normal,” this may be a surprisingly ineffective selling strategy.

By Old Dog Realtor

July 5, 2007 10:46 AM | Link to this

Supply goes up, price goes down…. oh noes!!!!

By cw1900

July 5, 2007 11:22 AM | Link to this

Hi all,

I’m back and this blog doesn’t look too exciting these days while I was gone. The new people here look like a bunch of boobs with not much to say. I hope it doesn’t continue or I’m outta here sooner rather than later. Rich, Easy, AP, crazydem, FL Ren, Wake Up, and a few others, where are you? Where did everybody go? Even, my good friend on the other side of the aisle, Mike Fink, is gone. What happened? Max, I know is here under various names, and has been chewing up and spitting out a few of you doomers I see. Always fun to watch.

I will respond, however, to the topic “Rich People Are In Denial”. I don’t consider myself rich, but the following applies…..

“40 percent of respondents are considering buying a second home in the next year. That’s an increase from last year, when only 30 percent said they were considering such a move.” I am buying another home in the next year.

“56 percent of respondents expect the value of their home to increase during the next 12 years.” Yes, I believe that.

“72 percent of respondents said they have a room in their home devoted almost exclusively to entertainment”. I can answer yes to that also.

“And perhaps most interestingly, women are more positive about home values than men.” That doesn’t mean anything. Worthless point.

I guess the only responses to any one people here in the last few days I would have, is to “E Finley” who thinks anyone who has a second home is rich….not true, “E Finley”, that’s very narrow minded thinking and that kind of class envy thinking will keep you miserable and broke if you keep thinking that way. Do something about it. I did. It just takes hard work and always doing and thinking the opposite of your friends, family, and neighbors. Don’t take advice from people who are also broke and miserable. If you’ve read me on this blog before, you know I pretty much do the opposite of probably 99% of all middle class America, and that’s why it’s easier to pull away from the pack at a faster clip.

The other response is to “Soft Inentory and Hard Heads”….whatever gave you the idea any of the houses I own are for sale? You said I have a house on MLS. Not true in my case, and I don’t think I ever suggested it.

Next….

I’ll await a new topic. Now that I’m back in south Florida, all I can say is….”I guess the drought is over….Can I turn my sprinkler system back on timer yet?

Oh, and yes, where I was, all is fine with real estate. The buyers are trying to get used to the much higher asking prices on the beautiful lakefront. Owners know what they have and see no reason to sell unless they get an astonomical price. Apparently, some buyers are screaming uncle and saying ok. Good for me, but I’m not selling anything I own.

Oh, one more thing. To the new guy here who insists on bolding some of his sentences. Enough already. Just type like the rest of us. The bold type just makes me skip over it, so whatever you said, pro or con, I didn’t bother to read it, as I’m sure many others also didn’t.

I’m back. I’ll be more cockier than ever and more confident than ever. My new game plan for the next few years is starting to take shape…

cw

By scumbag paul

July 5, 2007 11:35 AM | Link to this

What is the matter with the Palm Beach Princess having a rapist working for them? The guy has raped both female employees and passangers who were on the ship. His name is Paul Azzurro and works on the ship as Entertainment Director. The guy is a total scumbag and should be told about to the local police. The scumbag likes to brag to his friends that he is well connected to the mafia in Las Vegas. Always making trips to Vegas with the ship’s unreported income. Do you think his boss in Vegas would be happy knowing he likes to tell everyone he works for the “Mafia”? Palm Beach Princess must be happy to have a scumbag like Paul Azzurro raping women and stealing money for the mafia.

By Welcome Back CW

July 5, 2007 11:39 AM | Link to this

Nice to hear from you again CW. I agree, everything is boring here.

I see the Chinese are not buying the dollar anymore. Something to think about.

I came to the conclusion that for every one Starbucks coffee you see here in Florida, there are 10 of them in the Northeast.

Stop buying goods from China. Stop buying junk and maybe someday you will have a down payment for a home.

For some of you, your jobs went overseas and now you have no income. So why do you keep buying goods made in China or anywhere overseas? What will it take to stop buying that $6 cup of Starbucks coffee, the $300 pair of shorts, or the $500 Coach purse? Enough already.

So how are you realtors doing this summer making money? Are you able to survive now in $30K a year jobs? I know Mike Berry would never lower himself to take a $30K a year job. That is why he is working on taking advantage of another widow in Bear Island so hard, so I was told at picnic yesterday. Keep up the good work Berry. Oh by the way, your Deborah talks too much while waiting to check out when buying goods. I am all ears whenever I hear someone talk about you Berry. Your life is an open book. LMAO.

By reasons why houses are down

July 5, 2007 11:49 AM | Link to this

Reasons why sales are down in neighborhoods might be because of the businesses that are nearby.

Lets look at this one business, located 3114 45th street, suite #8. This business makes DVD’s of child pornograpghy. There are several schools nearby, and the police don’t investigate the matter.

What is wrong with the the police for not stopping this illegal business?

By Rich R

July 5, 2007 1:26 PM | Link to this

Hey CW,

Welcome back, I hope you had a nice break at the Lake.

Things around here have not changed much, just new people with old subject posts.

Most of what’s being posted has already been beaten to death and there’s really nothing new.

I really don’t care about Hulk Hogans house sale; not at all.

The blog was down for a couple of days last week and posts were not getting through. Many probably just bailed out.

I’ll just sit back, let the new people spin their wheels and wait for new topic.

Bottom line, Inventory is huge, sales volume extremly low, with buying season a total bust this year.

I did get a kick out of the post above talking about sellers not selling because they don’t get their price. This person fails to realize that “Must Sellers” will lower their prices to get out from under their HELOC’s, 100%+ financing and the soon to adjust ARM.

When these sales post, they become comps and everyone’s value drops.

I’m tired of trying to educate these fools, so I just sit back and enjoy the entertainment.

There are some newbies that are still posting the Median price thing and feel they are safe with this inaccurate measure in this unbalanced market. Have at it, enjoy.

I hope you got to relax a bit CW and once again, welcome back.

Rich R

By Curious

July 5, 2007 4:14 PM | Link to this

Though I don’t know this guy at all, much less personally, he does seem to have his area of the real estate world by the azz. Following are some selected comments:

“In St. Lucie County there was an auction of 14 homes on Saturday. No word on the results yet. The homes are expected to sell for $200,000, which represents a $100,000 hit to original sales prices. These homes range from 2,400 to 2,700 square feet. A quick search of the MLS shows me that homes of this size are listed for $250,000 to more than $400,000. And the builders are still trying to sell comparable homes for closer to $300,000 than $200,000. If you do the math, you can see we are at negative margins.”

“The media wants you to believe there (are, sic) 1,000 people moving to Florida a day. Whoa. Hold on a second. How about the folks leaving? The number of Florida drivers seeking licenses in other states has increased, while the number of drivers moving to the state has decreased. Public school enrollment dropped last year for the first time in almost 25 years. And the three largest van lines reported that more customers moved out of the state than into Florida.

Talking about numbers that don’t add up … the 1,000 new residents a day is quite a bit less than what the Census Bureau reports. They’re reporting 430,905 new residents for the 12 months ending April 1, 2006. That would be almost 1,200 a day. But that was rear-view for the last nine months of 2005 and the first three of 2006. I still don’t buy it. The other numbers are not there to support it, unless we are talking about illegal immigrants, and that is entirely possible. However, that’s a major drain on the Florida economy when there are fewer and fewer jobs in construction and farming for these folks.”

http://www.treasure-coast.us/Update-06-24-07

Nice to be a potential buyer with monies safely earning interest and being able to just relax on the sidelines for now, watching and enjoying the fireworks go BOOM! BOOM! BOOM!

:-)

By Curious

July 5, 2007 8:22 PM | Link to this

Think you have it bad?

How about being one of these poor folks with an ad in today’s Palm Beach County craigslist. People who are TRYING TO FIND ANYONE WHO CAN AFFORD, and are willing buy their (mostly) white elephants. Even say if the offer is $100,000 or much less from their prayer prices.

Again, think you have it bad?

$429000 Price Lowered On Lake View Single Family Home@ Montecito (Palm Beach Gardens, Montecito) pic

$314500 Strathmoor Town Home Priced To Sell (Jupiter, Strathmoor) pic

$499000 Batanica At Its Best, Single Family Home (Jupiter, Batanica) pic

$549000 New Haven Pool Home Now Available (Jupiter, Abacoa, New Haven) pic

$444000 SUPER GOLF VIEWS! (Pheasant Walk) pic

$629000 Abacoa Single Family Pool Home (Jupiter, Abacoa, Martinque) pic

$224000 JUST REDUCED GORGEOUS 2/2 CONDO W/ WATERVIEW IN DELRAY BEACH** (Delray Beach) pic

$299000 Best Deal In Martinque Today (Jupiter, Abacoa, Martinque) pic

$699000 3,300 Sq. Ft Home In Evergrene Under $750,000!!! (Palm Beach Gardens, Evergrene) pic

$255000 Owner Breaks Even, You Win Big!!! (Jupiter, Abacoa, Greenwich) pic

$359990 Inventory Pricing & Realtors Buyers Bonus @ Cielo (Palm Beach Gardens) pic

$255000 The Owners Loss Is Your Gain In Abacoa (Jupiter, Abacoa, Greenwich) pic

$194900 2/2 LAKEVIEW, NEW S/S APPLIANCES, WHY RENT-OWN!! (West Palm Beach) pic

$394900 Dos Lagos Huge Lot on Water Front with Dock (Boynton Beach) pic

$249900 First Time Home Buyers Program Now Available (Palm Beach County)

$334900 ! THIS IS THE ONE ! .45 Acre, 5 Bed/3 Baths/Outdoor Kitchen (Port Saint Lucie, Port St. Lucie) pic

$185000 3/1-best deal (West Palm Beach) pic

$218000 4/2+carpot-best deal (West Palm Beach) pic

$175000 Best deal (West Palm Beach) pic

$229000 BEAUTIFUL CONDO 2/2 MUST SELL INMEDIATELLY BY OWNER LES’T TALK (DELREY BEACH) pic

$250000 PBG 3/2 + Den, .12 acre NO HOA/POA (Palm Beach Gardens)

$285000 active senior development (Baywinds) (Okeechobee Blvd.)

$359990 North Palm Beach Heights (Jupiter) pic

$150000 Gorgeous 1B 1B central Boca reduced 40K (Boca Del Mar) pic

$549900 Beautiful waterfront 3bed/2bath pool home with tons of upgrades (Delray Beach) pic

$699900 Exquiste 4bed/2.5bath pool home with access to Lake Ida (Delray Beach) pic

$289900 2/2 Walk to the Beach, Jupiter Florida (Oceanside Terrace, Jupiter, Florida) pic

$252500 COUNTERPOINT - WITH A POOL (West Palm Beach)

$245000 quiet secure upscale condo just north of downtown wpb (cityplace downtown wpb)

$289900 Best Priced Town Home Of It’s Size In Antigue Today (Jupiter, Abacoa, Antigue) pic

$319000 Live On The Golf Course In Abacoa (Jupiter, Abacoa, Charleston Court) pic

$239000 cityplace 2bed 1 bath low price high living! (cityplace downtown wpb)

$335000 Town Home Priced To Sell In Tuscany (Jupiter, Abacoa, Tuscany) pic

$509000 5 Bedroom Single Family Home @ New Haven (Jupiter.Abacoa, New Haven) pic

$398902 2 Bedroom 2 Bathroom Condo img

$185900 RENT =OPTION PURCHASE ! grant monies avail- up to $70,000 (boynton beach) pic

$329000 Boynton Beach Golf Course/Lake 3/2/2 (Boynton Beach)

$279000 TWO STORY TOWNHOME IN EAST BOCA (BOCA RATON) img

$499000 5br/3fb large home! (Port St. Lucie) pic

$190000 Great 2 bedroom 2 full bath Condo (Boca Raton) pic

$299000 2/2 Condo Deeded Ocean Access Close to Riz (South Palm Beach) pic

$499000 5 BEDROOM 3 FULL BATH BEAUTIFUL HOME (PORT ST. LUCIE) pic

$550000 Boynton Beach, FL - 3 Bed 2.5 Bath Home for Sale (Boynton Beach, FL)

$325000 Ocean Ridge intracoastal 1 / 1 condominium for sale (Ocean Ridge, Florida) pic

$214900 Boynton Beach, FL Home For Sale - 2 BD 2 BA (Boynton Beach, FL) img

$179900 Boynton Beach Property For Sale (Boynton Beach, FL) img

$210000 3/2 appraised at $300,000 wont last long (Palm Beach County)

$309000 Gorgeous Coconut Key Townhouse / ALL AGES (Delray Beach)

$549000 WOW! RARELY AVAILABLE 2 STORY HOME IN VILLA PORTOFINO!! (BOCA RATON) pic

$369900 GATED ACTIVE COMMUNITY (WEST PALM BEACH)

$499000 Don’t dream it, live it BallenIsles - see link (Palm Beach Gardens)

$240000 3 BEDROOM TWO BATH (JOG RD/SUMMIT)

$198900 INVESTORS! THIS IS A STEAL! (BOYNTON BEACH) pic

$205000 3/2 Priced to sell NOW!!! Gated Community! All ages!! FSBO (Boynton Beach- Dos Lagos) pic

$185000 2 BEDROOM 2.5 BATHS (SUMMIT/MILITARY)

$116000 Beautiful Condo for Sale !!!! pic

$269500 Single Dad Can no longer afford….Make me an offer..video tour avail (Wellington)

$324900 Somerset Must See Town Home Priced To Sell (Jupiter, Abacoa, Somerset) pic

$319000 Martinique Town Home Priced To Sell (Jupiter, Abacoa, Martinique) pic

$410000 17025 Traverse Circle

$255000 11518 Landing Pl

$3599000 3/2 in Martin Crossing (872 SE Fleming) (Stuart)

$179000 Affordable Condo For Sale (6272 Chasewood Drive #15F) (Jupiter)

$335000 Upgraded Tuscany Town Home Available Now. (Abacoa, Jupiter, Tuscany) pic

$900000 Gorgeous Home in Heritage Oaks (10338 SE Banyan Way) (Tequesta)

$449000 House Remodeled to Perfection (17820 Alexander Run) (JUPITER)

$265000 2/2.5 Freshly renovated townhouse (148 Timberwalk Trail) (Jupiter)

$739900 Picture Perfect Home also for rent for $2,750/ mo (16802 130th Avenue) (Jupiter)

$385000 Fantastic location - purchase free standing building (337 Indiantown) (Jupiter)

$449000 Gorgeous 4/2.5 in Jupiter Farms (12265 169th Court) (Jupiter Farms)

$239900 3/1 WILL NOT LAST - Jupiter River Estates (713 Navaho St.) (Jupiter)

$279900 3/2 A MUST SEE double driveway, gated community (143 Wooden Mill) (Jupiter)

Nice to be a potential buyer with monies safely earning interest and being able to just relax on the sidelines for now, watching the show and enjoying the fireworks go BOOM! BOOM! BOOM!

:-)

By The Grim Curious

July 5, 2007 8:42 PM | Link to this

Nice to be a potential buyer with monies safely earning interest and being able to just relax on the sidelines for now, watching the show and enjoying the fireworks go BOOM! BOOM! BOOM!

I’m not sure what that means.

It would appear to me Curious is one of those who hopes to drive by an accident scene and prays he sees a dead body, or on 9/11 was just a bit sad when the death count didn’t break the 3000 mark. He was thinking, geez, just a few more deaths and it would have broken the 3000 level, man, too bad, right, Curious?

Curious likes to party in other people’s misery and hopes for more.

Hey Curious, Hitler wasn’t so bad….at least he made the trains run on time, right?

By Curious

July 5, 2007 11:05 PM | Link to this

“It would appear to me Curious is one of those who hopes to drive by an accident scene and prays he sees a dead body, … “

Well said, and from here on I shall change my standard final comment to (hopefully) not convey such a reflection.

Thank You.!

:-)

By US MEDIA SUCKS

July 5, 2007 11:06 PM | Link to this

Soft Inventory person: Yes I thought that was what you meant… and I agree.

The Courthouse Scavengers are, I think, going to be waiting a very long time for the implosion they keep insisting is going to happen any second. Many many mortgage companies are offering modifications to people who are preforeclosure - they have an incentive not to have too many “nonperforming loans”

There will be plenty of bargains; there will be plenty of foreclosures, but that in and of itself does not equate to a 50%+ price reduction that is being yakked about on these boards all the time.

And CW et al are bored with the board? Your arrogance/judgemental commentary gets a little boring, too. And by the way, confidence is admirable, cockiness is not.

By wwmd

July 5, 2007 11:51 PM | Link to this

Curious and Hitler in the same sentence.

So silent you could hear a maxmoose03 and a easyasabc drop.

Curious folds like a day old newspaper.

The Grim Curious right on the money.

Very impressive.

By toCurious

July 6, 2007 8:19 AM | Link to this

What is the matter with you ? Can’t you recognize the depression beneath the bravado of the cheerleaders left ?

Have you no compassion at all ?

Why torture them further with postings of specific properties that show growing inventory and sellers getting real ?

The cheerleaders know inventory huge and growing, even as buyers get fewer. No need to rub their faces in reality.

Now be nice. Give cheerleaders a bit more time to adjust to new conditions before any more large doses of true market conditions.

By 724Update

July 6, 2007 8:52 AM | Link to this

From earlier post :

“By maxmoose03 March 16, 2007 11:25 AM | Link to this PLEASE EXPLAIN WHY: This is getting to be a tedious exercise. If you had followed the very detailed and completely corroborated saga of 724 Bocce Ct., you would know that foreclosures are resulting in higher asking prices, not lower. In that case HSBC is into the property for only 450K, but wants 535K. The former owner just walked away from the house. Why bother to undercut the market and wind up with a loss?”

724 Bocce no longer on mkt . Did not sell. HSBC still holding this, along with growing number of others.

See PAPA, search by owner HSBC.

http://www.co.palm-beach.fl.us/papa/aspx/SALES/search_results.aspx?styp=general&owner=HSBC&city=-1&zip=&method=owner&cidx=-1&adlfilter=

By fire and ice

July 6, 2007 8:54 AM | Link to this

hey b and s!

palm beach is next!

By Paul

July 6, 2007 9:04 AM | Link to this

I have to admit it. 4th of July party attended by family.

My brother-in-law is a local realtor in the North Palm Beach/PBG market, and Wednesday was the first time in months I have seen him smile and have a good time. He seems a little more relaxed.

He told us activity is definitely up, insurance problems are not as bad as first thought, and their office is booking some sales, slowly, but steady, as he put it.

Their consensus is things are starting to turn for the better very slowly.

It doesn’t seem the meltdown is happening with the intensity as being blogged around here. It is certainly not stellar, but it is better than some of you think.

The fgure one of you told of the 1000 day moving in to the state has always been wrong.

The more realist numbers are as follows:

Avg number of new residents (includes people moving into the state and daily births) around 2200 Avg number of leaving residents (includes people moving out of the state and daily deaths) around 1300

That leaves a daily net gain currently in 2007 at approximately 900 people. That means the state will have over 300,000 more residents next year at this time than today. That is a fact and cannot be ignored. The old addage that 1000 people move into the state is not really very accurate, but the net numbers aren’t that far off.

You always need to factor in the daily deaths and births. Yes, some of those are illegals and new births and new deaths somewhat offset each other in terms of people adding to the tax base by working age. Infants and the very eldery are not working and adding to the vibrancy of the tax base, however, they are voracious consumers, in turn paying sales tax, property taxes, etc.

Paul

By 1860Update

July 6, 2007 9:44 AM | Link to this

From earlier posts :

“February 3, 2007 10:34 AM | Link to this

update of 1860 Primrose Ln Wellington 33414

earlier post :

“August 11, 2006” “Here is one example of someone who recognizes its time to bail (and maybe re-purchase much,much lower next yr) : Wellington - Sugar Pond Open Sat & Sun. 1-4 1860 Primrose Lane Reduced! Make Offer. 5/3, 2 Masters, office w/cust. cabinetry, pool,hot tub,all baths remod, $465K “

by Dec 06 was 439k,

by 12/9/06 - 419k

current(2/3/07) - 399K

R2712261

07/06/07 - Still on mkt, now $385K.

http://standrewscountryclubhomes.com/Listings/ListingDetail.ASPX?LID=22147090#

By 201Update

July 6, 2007 10:10 AM | Link to this

From earlier post :

April 30, 2007 12:59 AM Sunday ad in New York edition of Times: Boca Raton FL by owner motivated seller,

orig list 6.9 mil, now 4.9 mil. http://www.waterfrontboca.com/property.asp This property shows last sold Sept 2004 4.950 Mil.

201 NE Spanish Trl

Successful ? seller. Sold June 2007 for

$4,225,000

Last sale Sep 2004 for $4,950,000.

By cw1900

July 6, 2007 10:32 AM | Link to this

The reason some of us are bored can be summed up by what Paul just said. I believe Paul’s post. My problem may be I believe too many of you people, but that’s the optimist in me. I can’t help that.

It is just not as bad as what some of you honestly want it to be. I even think Curious finally admitted he may be a little over the top. The “Signed-like post to Curious last night, sorry to say, was well said. I know Curious does not want to see a hacked up body on the side of the road, but that’s what it sounds like. That’s why us so called cheerleaders make fun of some of you because some of you sound so ridiculous. I don’t think I am a cheerleader per se, I am just realistic. Yes, I know we have problems, you know I bi*ch about the unfair tax problems, the political landscape, etc, and do admit that there were plenty of people who didn’t do any homework and thought they were Donald Trump in 2005, but I also know it is nowhere near as bad as some of you want it to be.

I’ve always thought people like Curious’ 100% negative posts all the time attitude to be losers, just like this idiot who keeps posting this morning his cherry picked for sale ads with reduced prices (Max, chew him up and spit him out for me…), always looking for the negative and somehow wishing for the hot news story of the day to be worse than it is, etc. It’s just like some people who revel in and are proud of the fact they are white trash, or celebrate that they are poor, uneducated drains on society. Why? I can’t answer that, but it is sad and pathetic at the same time.

However, Curious is not a loser, actually, quite the opposite, I take him at his word, I think he is a very successful guy, but he fell into that trap of wishing for end of the world scenario. Guess what? If the end of the world happens, you can’t read about it the next day in the newspaper and smile that you were right, because you will be dead, too. Life is black and white.

Relax, you people, markets go up and markets go down. They NEVER are as good or as bad as the media outlets lead you to believe. Do your own research. Meanwhile, people are going about their daily lives, business is getting done, people are looking at houses, and yes, by god, even some of them are actually buying them.

Yes, there are a boatload of them on the market, but for those of us who didn’t think we were Donald Trump in 2005 or those of us who didn’t bandwagon to the next greatest hyped thing, we’ll just go about our lives, make deals, and plan for the future…. and sell to the next wave of Donald Trump wannabes and bandwagoners when it happens all over again in the next, normal business cycle.

Florida is not going to fall into the ocean, countless millions of people are still going to come here, many of them will even stay, we will have an economy, yes, people will participate in daily commerce in Palm Beach County ten years from now, I promise you people. I will even bet 5 bucks that the Florida sunshine will still be around in the year 2017. Yes, I know I’m going out on a limb here, but what the heII.

What I can also promise you people is there will always be the doomers, just like the gold bug freaks, who every once in awhile stand up and shout they were finally right, however, the opportunity cost of their decisions causes them to walk over so many dollars to pick up a few pennies every now and then.

Buy on maximum pessimism, sell on maximum euphoria. Make your money on the buy and have a strategy for the worse case scenario. Business, like life, is easy also. It’s black and white. Cut and dry. Optimists and pessimists. Do that, and you’ll never fail.

Max, just thought you’d like to know, I need a couple of tires on the old, paid for, Volvo. I think I’ll keep it around for awhile, you know me. That car payment money I don’t send to the bank every month, I’ll just keep it in my pocket and use it for the next deal I’m working on that actually has a chance of appreciating in value in the next few years. The Volvo, I learned a long time ago, just keeps going down in value everytime I turn it on it seems, but it still deserves a good car wash with the hose in my driveway tonight. One hand on the hose and the other hand holding whatever beer is on sale at Publix on my way home. Damn, if I do that, I must weigh the opportunity cost of such an evening. Oh well, that overpriced steak at CityPlace will just have to be eaten by some other guy. I’ll bet he pays 8 bucks to have his 3 year lease washed. I’ll bet you 5 bucks.

Have a nice weekend everybody.

cw

By bromides

July 6, 2007 11:08 AM | Link to this

The “updates” posted are of just a few from tracking database.(an easy part of research suggested by CW).

The ones posted serve only to be examples over time and have served their purpose so far. Read the comments on them.

Will check back in another few months. Time tells.

Did you check the number of holdings HSBC has on PAPA ? Also interesting is the number held by other lenders.

By To bromides

July 6, 2007 11:15 AM | Link to this

I’m in the “biz”.

I can tell you HSBC’s holdings are not that much out of line, and certainly not that out of line with national trends.

Try again. No big news there.

By HSBC

July 6, 2007 11:27 AM | Link to this

HSBC is just one of the mtg companies trying to restucture loans for those in trouble. The current number on PAPA added to the number on the rest of FL counties rolls is becoming significant despite the efforts of lenders to help owners avoid leaving property.

There is an upside :

http://tampabay.bizjournals.com/tampabay/stories/2007/02/19/story1.html

By OrlandoBlues

July 6, 2007 12:26 PM | Link to this

At least we are not as bad as Orlando area.

http://money.cnn.com/2007/07/05/realestate/futureshockFloridahousingwill_fall/index.htm

Can’t happen here. Right ????

By not the link kook again?!

July 6, 2007 12:35 PM | Link to this

Enough with the links already.

Nobody is reading links.

Give us your thoughts or don’t bother.

By likelinks

July 6, 2007 12:44 PM | Link to this

Give me links instead of lengthy overworded spiels that say little. I appreciate posts that back up their position with references like links to info that one can go to and judge if valid or not.

By Bear Island Owner

July 6, 2007 12:50 PM | Link to this

What, another story on Mike Berry? It was told yesterday that someone knowing him to list low prices on widows. That is no surprise news of the residents in this gated community. We have our share of problems with the Board of Directors with their misuse of power and the low listing prices that realtor Mike Berry and his staff are going around with at Village Realty. Their office are desperate for sales.

He will list widow’s properties in the low $300’s, but will sell his own property that he is flipping in the $400’s. Go check out papa for Berry’s track history.

Got anything to say Mike?

By TO: PAUL

July 6, 2007 12:54 PM | Link to this

Paul, I have heard figures closer to yours when factoring in the birth and death rate, but what I heard was a net of 1100, not 900.

It’s still close enough and there’s no way to really get much more accurate.

By 1100or900or1299

July 6, 2007 1:06 PM | Link to this

I’ll accept any number. doesn’t seem to matter. Not many of whatever the number is seem to be buying. Maybe we getting more with less to spend.

By Average Guy

July 6, 2007 1:07 PM | Link to this

Where can the average guy with an average looking wife and two average kids getting average attendance records in an average school in North Carolina find an average double wide that can fit 6 dogs and 3 very average pick up trucks?

Nascar Willie, ya got any idears?

By It is dead here

July 6, 2007 5:45 PM | Link to this

This blog is dead. I think I read about 3 decent comments out of 71.

I am leaving. Bye.

By Curious

July 6, 2007 5:55 PM | Link to this

Turn up your sound and enjoy.

First though, Press 1 for English …

http://www.youtube.com/watch?v=sEJfS1v-fU0

:-)

By Steve

July 7, 2007 1:51 PM | Link to this

I see CW, is not in denial anymore. Problem is, calling the peak of the market from your rearview mirror is not very helpful. Don’t worry though, in fifteen years you’ll realize those paper gains you thought you had.

By CARLISLE REPORT

July 7, 2007 5:40 PM | Link to this

DUE TO MY STUPIDITY, I AM CAUSING HEAVY EXPENSES TO HOMEOWNERS IN MY DEVELOPMENT. I HOPE NO ONE SUES ME SINCE I HAVE NO INSURANCE TO COVER THE CLAIMS THAT WILL BE FILED AGAINST ME.

By CARLISLE REPORT

July 7, 2007 5:40 PM | Link to this

DUE TO MY STUPIDITY, I AM CAUSING HEAVY EXPENSES TO HOMEOWNERS IN MY DEVELOPMENT. I HOPE NO ONE SUES ME SINCE I HAVE NO INSURANCE TO COVER THE CLAIMS THAT WILL BE FILED AGAINST ME.

By CARLISLE REPORT

July 7, 2007 5:41 PM | Link to this

DUE TO MY STUPIDITY, I AM CAUSING HEAVY EXPENSES TO HOMEOWNERS IN MY DEVELOPMENT. I HOPE NO ONE SUES ME SINCE I HAVE NO INSURANCE TO COVER THE CLAIMS THAT WILL BE FILED AGAINST ME.

By Curious

July 7, 2007 6:01 PM | Link to this

Here we go again …

In addition to Linda’s last two real estate/mortgage articles in the Post, … .

“Jul 05, 2007 — The facts are in. We are embroiled in the biggest real estate bubble in U.S. history. So why are buyers still paying top dollar for homes in many areas of the country? Are they crazy?”

“Homebuyers who think now is a good time to buy into the housing market are crazy. If they aren’t crazy, then these poor souls have been deluded by mind bending real estate propaganda. Here’s why:

Home prices are currently disconnected from the basic fundamentals that rule the real estate market. Rents have not kept pace with home prices. On average, it costs two to three times more to buy, and no matter how you stack the numbers, in almost every rent versus buy analysis, renting makes the most financial sense.

There is also an enormous problem with affordability. From coast to coast, potential homebuyers are finding that they cannot reasonably afford to buy a median priced home when they earn the median household income. This is because, like rents, salaries did not keep pace with rising home prices during the boom.”

http://efinancedirectory.com/articles/RentersUnite%21Let%27sPopthisRealEstate_Bubble.html

Nice to be a potential buyer with monies safely earning interest and being able to just relax on the sidelines for now, reading, listening and observing. However, it sure would be nice to find some good educated hard evidence that area prices have finally bottomed and started to rise. Then we can start making some offers, say bye to the bears, and again hang with the bulls.

Unfortunately, at the present time I do not see that happening.

:-)

By Give it a rest

July 7, 2007 6:46 PM | Link to this

Curious, How many aliases do you have? Steve …

By Sign of the times

July 7, 2007 6:50 PM | Link to this

The latest foreclosure statistic in Palm Beach didn’t make the front page. The negative hype is little by little disappearing.

By Another sign of the times

July 7, 2007 9:25 PM | Link to this

HOA homeowners can also be personally liable for lawsuits to which the association is a party. While the association should carry a substantial liability policy, many don’t, leaving board members and owners exposed to potentially large personal judgments. Don’t you think buyers would like to know about the association insurance and any litigation that is being bandied about? Indubitably!

By Curious

July 8, 2007 7:51 PM | Link to this

Sorry, spurious assumption, Steve.

:-)

By Curious

July 8, 2007 7:56 PM | Link to this

Top 10 buyers markets:

1. Tampa area

2. Miami area

http://www.forbes.com/forbeslife/2007/06/22/homes-buyers-property-forbeslife-cxmw0625buyersslide2.html?thisSpeed=15000

Nice to be a potential buyer with monies safely earning interest and being able to just relax on the sidelines for now, reading, listening and observing. However, it sure would be nice to find some good educated hard evidence that area prices have finally bottomed and started to rise. Then we can start making some offers, say bye to the bears, and again hang with the bulls.

Unfortunately, at the present time I do not see that happening.

:-)

By everyone is upside down in florida

July 8, 2007 10:46 PM | Link to this

“One Miami Beach condo was slashed by nearly $400,000. ‘Even at that price nobody was interested,’ said Barquin, ‘because that’s not what it’s worth on the market.’”

I SMELL BACON!

By to everyone

July 9, 2007 9:23 AM | Link to this

not everyone is upside down. everybody means 100% of all property owners in the entire state of florida.

silly statements like that shows your stupidity and negates any argument you may have.

rephrase and try again, idiot.

By Curious

July 9, 2007 9:49 AM | Link to this

10 Reasons to Sell Your House Now

“5. The Market is Cooling

Home sales are slowing, foreclosures are rising, and inventory is growing. Bottom line, the market is getting colder, not hotter. If you are waiting for buyer interest to get to the level it was a few years ago, you will be waiting a long time indeed. Your best bet will be to sell now and take what you can get before the competition gets worse than it already is.”

http://efinancedirectory.com/articles/10ReasonstoSellYourHouseNow%09.html

By easyasabc is back !

July 9, 2007 9:54 AM | Link to this

Hello Hot South Florida……

Man oh man, I need a vacation from a vacation…..

I can tell you that Southern California is great and the people who live in Palm Springs this time of the year got to be nuts!……118 degrees out there, but only a nice 74 along the ocean…..

I do have to say that La Jolla, California is the best place to live, work and play at……..my house is fine, no wildfires nearby, we can see smoke off in the distance at times but the fine people of the California Forest Division and Orange County Fire Department really know how to put out a fire…… the brush was cleared at my house……and the drinks were plenty for all……

Can I tell everyone that the music stations here just SUCK, SUCK, SUCK !……radio staions in CA. are great, especially driving down PCH…….and the Beach Boys were right, nothing can’t beat a California Girl……..

So, what went on here while I was away?????…..It looks like there were many stories written, and I do not have time to go through them……

Can anyone in 50 words or less just review what happen since I was gone?….just Florida real estate report……not Georgia, Raleigh or any other Mayberryland location…….

Did anyone here buy, sell, went bankrupt, sign a new lease, get evicted or just end it all by standing on the railroad tracks ??????

What is the latest median price????

If you think you people have it bad here, you really don’t…….the talk is in California is people to sell their $650,000 - $850,000 median price homes and to move to FLORIDA !…..ha ha ha……they love your low prices here that you are offering……….what is the hold up?…..GREED baby!…..everyone wants the top dollar for their homes…….I tell California people out there they are the lucky ones……

I heard a few stories when I was away…..one was we got hit by a tropical storm ?…….and also that several Florida cities were named for great places to move to now!…..which cities ?????

Remember how people said it was cheap to buy a house in Texas?…..what I saw from the air, Texas became one big lake, with many homes floating away……

My illegals are off for the summer…and no Maria…..I sure do miss that hot little mexican whore and here cooking…….

….I know I will get a slap from my lady friend on that remark……..

…..it looks like I need a new boat dock in the future……Trump will be building a new condo at my marina…….

…..people kept asking me about “what do I think about Paris Hilton?”……I said it is ok, but I perfer the Paris Holiday Inn…….

You don’t really know real estate unless you see real estate in California…….

Many Arabs and Asians buying up property there…….

…..I have many items to do here, will be busy for days to catch up……

Life is very good in Southern California !

easyasabc

By cw1900

July 9, 2007 10:30 AM | Link to this

Good morning,

Well, one side benefit of this blog dying is that people aren’t wasting their whole weekend on this blog. This place is dead.

Sorry, Steve, not even close, and I’ve never changed my tune. Quite the contrary, like I said last week, I’m planning my next deal. Go ahead and wait another 15 years, Steve, by all means. Rents are going up slowly and steadily.

This post will short and sweet, and that will make some of you happy. The reason is simple. Nothing new to discuss. We all know each other’s views, no point in beating it to death.

I’ll chime in when there’s something good to talk about.

What? Are you sure? Really? You’re kiddin’…..

Wait…..stop the presses……Do my eyes deceive me?……Is Easy back to torment the doomers? Amazing….. Yes, he is……….Uh oh, I may just have to hang around a bit more……This will surely bring back Max and Rich R. I’m not going anywhere. Sorry, cw haters.

Let the games begin…….you people!

cw

By my perspective

July 9, 2007 12:17 PM | Link to this

The reason this blog is dead is because nothing is going on. While the median price has remained relatively constant, sales are minimal. The expensive homes are doing well while middle class homes aren’t doing so well.

Many sellers are sticking to their asking price while others have begun to panic.

Many where waiting for tax relief and what we got was a dud.Insurance reform was also a dud.

What we have left is hesitation from buyers who are waiting for something to happen to alleviate these concerns. Will it ever happen? I doubt it.

It doesn’t really matter if you’re a cheerleader or doomer, we can all agree that the current RE market is in the I.C.U.

BTW, welcome back easy.

By Game Strategy

July 9, 2007 12:25 PM | Link to this

Fight them. Expose them. Go for the gold and bring it on home.

Da da da dum……

By easyasabc

July 9, 2007 12:57 PM | Link to this

I just read that the new condos across from Cityplace are 88% sold out. Prices are from $400k to $800k. Trump is having problems with his condos. They are in the million dollar plus price range.

People out in California are not giving in to lowering their prices. Sooner or later, everyone gets their price. Some people can make more money in other ways besdides selling.

I know a guy who always b***h and complains about a church nearby his house. The guy has no religion in him. He thinks he is losing money on his property with a church nearby him. He hates Baptists, what can I say. The people asked me what they can do about him ? I told them expose his background. People like him have skeletons in their closet. As they say, don’t throw rocks if you live in a glass house.

If you do get hit with rocks by people who are nuts…..send lead back the other way!…..maybe they will start to get the message.

easyasabc

By lessinventoryandfreemoney

July 9, 2007 1:31 PM | Link to this

“Some people can make more money in other ways besdides selling”.

Welcome back Easy! Just had to take the above quote from your last comment.

I concur with that thought wholeheartedly.

Have been told by a very reliable source that I can make more money on lawsuits here than what my house is actually worth.

Took house off the market just to stick around to sue and collect money on several lawsuits. Suing is the easiest way to make money these days. Don’t you agree?

By Question

July 9, 2007 1:53 PM | Link to this

I thought the property appraiser for PB Co was going to post 2007 appraisal info on July 1st. I don’t see the 2007 info, anyone have any info?

By Intresting

July 9, 2007 3:44 PM | Link to this

Palm Beach County millage rates will drop slightly due to a surplus of 1.6 billion dollars.

Where did this 1.6 billion dollars come from? Increase in property values throughout the county!

This is for you Easy, “As we speak prices are rising”.

By Nascar WIllie

July 9, 2007 3:47 PM | Link to this

Hey average guy, Yeah you can park em up here! Only thing is my accent done made people think I was stupider than Tony Stewert tryin to goin three wide at Daytona. Hey Rich, do people think you is stupid cause you got that North Carolina accent? Friends thinkin bout movin up here, but they afraid dem kids gonna pick up the stupid accent, not be able to get no job when they move to a real state. Crazy, huh? Funny how dem city slickers thinkin. Wonderin if it’s worth it to save some money on dem house if dem kids talkin like idiots…Hey Rich, I didn’t ask for dem listings from North Carolina-I ain’t lookin to buy so don’t bother, my friend lookin to sell his trailer up here, wants u to look at it. And who dis Easy guy? Did Easy go to Priceton with ole’ Rich???

Sorry my tuypin so slow-done hurt my finger lightin a bottle rocket!!!

NASCRA OUT!!!

By HOLA

July 9, 2007 3:47 PM | Link to this

Where are you max?

By Curious

July 9, 2007 8:29 PM | Link to this

Florida foreclosure future shock

By Les Christie, CNNMoney.com staff writer July 6 2007: 12:55 PM EDT

NEW YORK (CNNMoney.com) — A tidal wave of foreclosures may be heading toward Florida, if you judge by the number of homeowners looking to get rid of their homes as fast as they can.

Duane LeGate, president of House Buyer Network, arranges quick sales for home owners in distress. He claims he can predict where markets will go bad by looking at the traffic on his Web site.

http://money.cnn.com/2007/07/05/realestate/futureshockFloridahousingwill_fall/index.htm

Nice to be a potential buyer with monies safely earning interest and being able to just relax on the sidelines for now, reading, listening and observing. However, it sure would be nice to find some good educated hard evidence that area prices have finally bottomed and started to rise. Then we can start making some offers, say bye to the bears, and again hang with the bulls.

Unfortunately, at the present time I do not see that happening.

:-)

By MAX !!!!!!!!!!!!!!!!!!!!!!!!!

July 9, 2007 8:51 PM | Link to this

Max!!!!!!!!!!!!!!!

Steve has been looking at realtor.com thinking he’s gonna scarf up a cheap property and take advantage of some desperate seller. Steve says he has $4000 burning up his pocket.

Steve says his dog made him do it.

By tom jones

July 9, 2007 8:52 PM | Link to this

what comes up, must come down ‘(

By tom jones

July 9, 2007 8:53 PM | Link to this

what comes up, must come down ‘(

By tom jones

July 9, 2007 8:54 PM | Link to this

what comes up, must come down ‘(

By Curious

July 9, 2007 9:06 PM | Link to this

Household income (overall percent of US households over):

Income Percent of Households over:

$65,000 34.72% $80,000 25.6% $91,705 20.0% $100,000 17.8% $118,200 10% $166,200 5% $200,000 2.67% $250,000 1.5% $1,600,000 0.12%

Some of you may be surprised to see this data. If anything, it should point out to you that there is not nearly enough of an income base to support the $500,000 median home prices in Southern California or any overpriced metro area in the country. Even a household with dual income earners making $100,000 a year, after taxes they are pulling in a monthly nut of approximately $5,900 without contributing to a 401(k). And what is the monthly mortgage payment on a $500,000 home with 5% down ($25,000) at 6.5% over 30 years? The principle, interest, and taxes will cost you approximately $3,600. After taxes you are paying 61% of your income toward your

Yet, here are some selected entries from today’s Palm Beach County craigslist:

(since there were so many more, I have arbitrarily eliminated most condo ads)

$459000 3/2 Prado Condominium (West Palm Beach) pic $339000 FOR SALE BY OWNER^^^JUST REDUCED^^^ (BOCA RATON) pic $299900 Great Location! 3 Bed 2 Bath Royal Palm Beach Home (Royal Palm Beach, FL) img $799900 Property For Sale in Boynton Beach - 6 Bed 5 Bath (Boynton Beach, FL) img $349000 SHORT SALE - HISTORIC DISTRICT - WEST PALM AREA NEAR EL CID (DIXIE AND OKEECHOBEE) $288000 Royal Palm Beach - 2 Bed 2.5 Bath Property for Sale (Royal Palm Beach, FL) img $499000 BOCA RATON - LA JOYA (SW 18TH @MILITARY) $499000 STUNNING NORTON PARK PLACE - (WPB (DWNTWN)) pic $959000 Prestigious Presidential Country Club (wpb) pic $604000 Large Home in Wellington (Binks Preserve) pic $550000 Help me lose $25,000 (West Palm Beach) $289900 Big, beautiful Georgia home (Acworth) $585000 SINGLE FAMILY HOME (SINGER ISLAND) $325000 water view, cbs home, model perfect (Lantana, Fl) $399000 Villa Lofts New Direct East Water Views 1600 Sq Ft ((West Palm)(Flagler Drive)) pic img $579000 PRESTIGIOUS PRESIDENT COUNTRY CLUB (WPB) pic $450000 CITY PLACE CONDO/ ACROSS FROM DOWNTOWN CONVENTION CTR (City Place, Wes (City Place, Florida) pic $330000 3 Bedroom 2 1/2 Bathroom Townhouse Condo img $254000 New Construction Home in Jupiter (Abacoa Area) $208900 renovated 3bedroom 2 bath ,move in condition (lake worth) pic $290000 IMMACULATE & READY FOR YOU TO MOVE IN pic $239000 3 Br 2.5 BR Townhome, 2,141 SF (Stuart) pic $415000 FURNISHED,LUXURY EAST BOCA RATON T-HOME PRICED TO SELL END UNIT (STEPS TO POOL/GYM, 3/3.5/2CAR***)) pic $612900 10 Unit Apartment complex in West Palm Beach (West Palm Beach) pic $529900 3/2/2 SINGLE FAMILY HOME (JUPITER) pic $564999 Delray Beach fixer upper with $78k equity. buy. fix. sell. profit! (Delray Beach Florida) img $397000 Beautiful 3/2/2 Pool home on Lake w/dock (Royal Palm Beach) pic $369000 BOCA POINTE BEST PRICE SINGLE FAMILY HOME (BOCA RATON) pic $799000 Wow For The Growing Family 6 B/R and 4 Baths (Jupiter) pic $245000 3/2 PRECONSTRUCTION $10K TOWARDS CLOSING COSTS! (LAKE WORTH) pic $340000 PREFORECLOSURE! 3/2/1 IN TEQUESTA! ALL OFFERS CONSIDERED! (TEQUESTA) pic $560000 Tropic Isles Townhome (Delray Beach) $435000 4/3/2 On Lake With Heated Pool & Spa (Lake Worth) pic $419000 Promenade Boca Pointe (Boca Raton) pic $239900 PRICE REDUCED $50,000 (BOYNTON BEACH) pic $599000 BOCA POINTE GORGEOUS HOME (BOCA RATON) pic $264900 GREAT BUY!! BRAND NEW HOME FOR SALE BY OWNER 3/2 (GREENACRES) pic $499000 LUXURY CONDO LOCATED ON PRESTIGIOUS MIZNER BLVD! (BOCA RATON) img $245000 Foreclosure, Completely Redone! (Lake Worth) pic $1095000 WATERFRONT TOWNHOME WITH 30’ DEEDED BOAT DOCK!! (HIGHLAND BEACH) img $379000 LUXURY MID-RISE, CONDO DIRECTLY ON 40,000SF POOL DECK!! (BOCA RATON) img $279000 4/2 SINGLE FAMILY HOME!! WHAT A DEAL!! AMAZING PRICE!! (BOYNTON BEACH) $599000 BEAUTIFUL 3 BEDROOM 2 BATH POOL HOME IN CENTRAL BOCA! (BOCA RATON) img $249000 GREAT STARTER HOME….LEASE OPTION CONSIDERED! (BOYNTON BEACH) $249000 BEAUTIFULLY UPDATED TOWNHOME IN CENTRAL BOCA!! (BOCA RATON) img $484000 VILLAGE DEL MAR—WALK SHOPPING AND HOUSES OF WORSHIP (BOCA RATON) pic $379000 BEAUTIFUL OCEAN & INTRACOASTAL VIEWS!! (HIGHLAND BEACH) img $334900 DEEDED DOCK/ OCEAN ACESS (NORTH PALM BEACH) pic $499000 new 5/3/2 with over 3,400 sq. feet ….. (royal palm/wellington) pic $489900 CHERRY WOOD FLOORS 4BR / 3BA 2,500 A/C POOL LAKE LOT (BOYNTON BEACH) pic $324000 3BR / 2BA CONDO IN BOCA LOOKS LIKE A DESIGNER’S MODEL (BOCA RATON) pic $360000 4/2/2CG pool home in Jupiter waterview community (Jupiter) $524900 3BR 2.5BA 3++ Car Garage Wood Floors New Kitchen (Delaire Country Club) pic $465000 2,711 SQ. FT. UNDER A/C * 4BR * 2.5 BA * GRANITE * 2005 * (COLONY PRESERVE) pic $615000 West Palm Beach fixer upper with $62k equity. buy. fix. sell. profit! (West Palm Beach Florida) img $459900 MIZNER PARK HOME PRICED TO SELL!!!!!!!!!! (MIizner Park/Boca Raton) $400000 COMPLETELY UPGRADED 2/2 ON I-COASTAL GRANITE REMODELED (DELRAY BEACH) pic $960000 West Palm Beach on the Water-2PercentCommission.com (West Palm Beach-Buyer Rebate $9600)

Nice to be a potential buyer with monies safely earning interest and being able to just relax on the sidelines for now, reading, listening and observing. However, it sure would be nice to find some good educated hard evidence that area prices have finally bottomed and started to rise. Then we can start making some offers, say bye to the bears, and again hang with the bulls.

Unfortunately, at the present time I do not see that happening.

:-)

By tom jones is a button pusher

July 9, 2007 9:08 PM | Link to this

tom keeps pushing the send button over and over again.

he’s a dandy, a real fancy boy.

tom says his wife keeps bugging him for a bigger house, but tom keeps pushing buttons going, god darnit, why won’t my mesage get sent?!

his wife only wants a place that doesn’t have harvest gold, how bout it tom?

By to Curious

July 9, 2007 9:28 PM | Link to this

Curious,

Our household income right now is $104,000 and that does not include the gross income on two rentals. On that 104,000 with both contributing to 401k’s and having two kids, our monthly net income is $6922. With the rentals and other investment income and then some other deductions, we about break even come tax time. Some years I owe a grand to the IRS in April, other years I’ll get back about a grand, so it works out about even every year.

Where do you get your numbers? This is Florida, not a high income tax state like California, CT, NY, or rust belt states.

BTW, you are probably the most negative person on this board. You must be a real blast at parties.

By John Morris

July 9, 2007 9:37 PM | Link to this

Max, It’s a Free Concert from Now On

By Curious

July 9, 2007 9:49 PM | Link to this

” … you are probably the most negative person on this board. You must be a real blast at parties.”

Sorry, just calling it as I see it, and please consider this:

There are constant streams of opportunities, and a bright new sunrise comes with every day — many reasons for all of us to be positive. This is just one very small area in our financial lives, and not to be judged in any way as the big picture.

Plus, have you not read this comment following my recent posts:

“… , it sure would be nice to find some good educated hard evidence that area prices have finally bottomed and started to rise. Then we can start making some offers, say bye to the bears, and again hang with the bulls.”

Cheers! :-)

By Curious

July 9, 2007 10:55 PM | Link to this

A follow-up elucidation (from my favorite contemporary economics professor):

“Just about the most difficult lesson for first-year economics students, and sometimes graduate students, is that economic theory, and for that matter any scientific theory, is positive or non-normative. You might ask, “What’s this business about positive and normative?” It’s easy. Positive statements deal with what was, what is or what will be. Normative, or subjective, statements deal with what’s good or bad, or what ought to be or should be. Confusing the two leads to considerable mischief.”

http://www.gmu.edu/departments/economics/wew/articles/07/thinking.html

By John

July 10, 2007 10:16 AM | Link to this

RE: By 1860Update

July 6, 2007 9:44 AM | Link to this

From earlier posts :

“February 3, 2007 10:34 AM | Link to this

update of 1860 Primrose Ln Wellington 33414

earlier post :

“August 11, 2006” “Here is one example of someone who recognizes its time to bail (and maybe re-purchase much,much lower next yr) : Wellington - Sugar Pond Open Sat & Sun. 1-4 1860 Primrose Lane Reduced! Make Offer. 5/3, 2 Masters, office w/cust. cabinetry, pool,hot tub,all baths remod, $465K “

by Dec 06 was 439k,

by 12/9/06 - 419k

current(2/3/07) - 399K

R2712261

07/06/07 - Still on mkt, now $385K.

I looked at this house on your link and it seems to me that this house is still overpriced at $385K. It was built in 1989 which means the homeowner insurance will be at a higher rate. There are also many other comps at lower asking prices. So no surprise it is still on the market at $385K. The original listing price of $465K falls into realm of “wishfull thinking”. Good Luck!

By mktexample

July 10, 2007 10:20 AM | Link to this

CityPlace Tower Condo: 651 OKEECHOBEE BLVD APPRAISED 326K 804 - West Palm Beach, FL 33401

BEAUTIFUL 2 BR, 2 BTH IN LUXURIOUS 24 HOUR DOORMAN BUILDING IN THE HEART OF CITY PLACE. NEUTRAL 8TH FLOOR CONDO WITH BALCONY OVERLOOKING PLUSHLY LANDSCAPED COURTYARD AND PARTIAL WATER VIEWS. THERE’S ALWAYS SOMETHING EXCITING TO DO IN CITY PLACE.

Days On Market: 127 Current List Price: $259,000 Initial List Price: $295,000 (13.9% Reduction)

03/24/07 - Price Reduced to $280,000 06/11/07 - Price Reduced to $259,000

Last Sale :$277,179 Apr-2004

Tax - $7,449

By easyasabc

July 10, 2007 10:20 AM | Link to this

Didn’t we have a beautiful sunset last night here in Florida?……

Life can be so good for many….then again, it can be so costly for others…..all due to their actions…….

Someone was talking about the money that the county have in their banks…..well, if the County don’t start spending this money, the State takes it away…..and if the State don’t use it up, the Federal Govt. starts to give less to Florida……so if you don’t use it, you will lose it….

There was a survey of the the “Seven Wonders of the World”…..and they were talking in another paper about “Florida’s Seven Wonders”….they had the Everglades, the Keys, Disney World, our beaches, so on, so on……

I like to add my version of “Florida’s Seven Wonders”…….

….and the #1 Great Wonder we have here is……REAL ESTATE ……it is the number one money making product that Florida has to offer……it beats out tourism and the selling of oranges and grapefruit…….Did you know most land owned in Florida are by women?…….as long there is no great tidel wave to hit us, and there is land to live on here, people will still flock here……but do we need all these tall condos being built on top of each other??????……

(other mentions of wonders that did not make teh final top ten list…….that Laural Sauer and Jim Sackett is still on the news here……..that people still pay $8 a cup of water down lemonade at the local festivals…….that Donald Trump was not foreclosed on yet……….that more realtors have not yet lay down on railroad tracks here…….that Steve is still renting (I thought he would have bought by now…what a real loser he has to be….keep flipping those burgers Steve)…….

Before I forget, we had news stories in California about sending mortgage lenders to jail for mortgage fraud…..who did the Feds say were two other big states that were getting hit…..Colorado and you guess it…..Florida…..the mortgage lenders were getting anywhere of 8 to 16 years of prison time in California.

Soon, it will happen here……many stories yet to be told …..keep watching…..you never know who will be on the news someday.

easyasabc

By 1860

July 10, 2007 10:46 AM | Link to this

I think the point of original post of 1860 Primrose almost a year ago was pointing out that bubble had popped. No one would admit it.

This guy was just a little too late and a little too over-reaching. Other properties like this and worse had sold way over value 2003/2004 and early 2005 in the spec frenzy.

Will be interesting to see what it finally sells for.

By If Max Were Here

July 11, 2007 2:19 AM | Link to this

If Max were here instead of on the vacation he had pre-announced, he would say Hi to CW, AP, and all the others with good intentions.

Max would say any potential sellers out there should do what Max had his people do: take their properties off MLS and take a vacation. Forget about it till Labor Day. Take a vacation from worries about real estate. There is no crash, there is barely a decline on an overall basis.

To those who are foolish enough to lower their prices when there is no one even here to see it, stop it. Take a break and take a breath. Most of all, don’t deal with imbeciles who are out to low-ball you.

Prices rose quite a bit last month, but we are following an annual pattern. We will likely see our normal post-summer dip, however we stand a good chance of being slightly ahead of last year YOY by September.

The market is slow, compared to what we got used to. Otherwise, nothing is fundamentally changed. Despite all the ridiculous “blood-bath” rhetoric in this paper and obscure web sites, life is good, things are normal, and real estate is OK. The summer is always slow in Florida, it has not been slower than usual.

People of means are on vacation from Florida. Unfortunates like Curious are here wasting their digital breath, making preopesterous, irrelevant comments, and hinting at a “crash” that becomes more of a joke each month.

So have a good laugh when you read the crap from Curious, the one-liners which are all Old Dog can manage, and the exaggerated claims of any Doomer who has no statistical data to back him up.

Enjoy the summer. I sure am doing so.

That’s what Max would say :-)

By If Max Were Here

July 11, 2007 2:19 AM | Link to this

If Max were here instead of on the vacation he had pre-announced, he would say Hi to CW, AP, and all the others with good intentions.

Max would say any potential sellers out there should do what Max had his people do: take their properties off MLS and take a vacation. Forget about it till Labor Day. Take a vacation from worries about real estate. There is no crash, there is barely a decline on an overall basis.

To those who are foolish enough to lower their prices when there is no one even here to see it, stop it. Take a break and take a breath. Most of all, don’t deal with imbeciles who are out to low-ball you.

Prices rose quite a bit last month, but we are following an annual pattern. We will likely see our normal post-summer dip, however we stand a good chance of being slightly ahead of last year YOY by September.

The market is slow, compared to what we got used to. Otherwise, nothing is fundamentally changed. Despite all the ridiculous “blood-bath” rhetoric in this paper and obscure web sites, life is good, things are normal, and real estate is OK. The summer is always slow in Florida, it has not been slower than usual.

People of means are on vacation from Florida. Unfortunates like Curious are here wasting their digital breath, making preopesterous, irrelevant comments, and hinting at a “crash” that becomes more of a joke each month.

So have a good laugh when you read the crap from Curious, the one-liners which are all Old Dog can manage, and the exaggerated claims of any Doomer who has no statistical data to back him up.

Enjoy the summer. I sure am doing so.

That’s what Max would say :-)

By If Max Were Here

July 11, 2007 2:20 AM | Link to this

If Max were here instead of on the vacation he had pre-announced, he would say Hi to CW, AP, and all the others with good intentions.

Max would say any potential sellers out there should do what Max had his people do: take their properties off MLS and take a vacation. Forget about it till Labor Day. Take a vacation from worries about real estate. There is no crash, there is barely a decline on an overall basis.

To those who are foolish enough to lower their prices when there is no one even here to see it, stop it. Take a break and take a breath. Most of all, don’t deal with imbeciles who are out to low-ball you.

Prices rose quite a bit last month, but we are following an annual pattern. We will likely see our normal post-summer dip, however we stand a good chance of being slightly ahead of last year YOY by September.

The market is slow, compared to what we got used to. Otherwise, nothing is fundamentally changed. Despite all the ridiculous “blood-bath” rhetoric in this paper and obscure web sites, life is good, things are normal, and real estate is OK. The summer is always slow in Florida, it has not been slower than usual.

People of means are on vacation from Florida. Unfortunates like Curious are here wasting their digital breath, making preopesterous, irrelevant comments, and hinting at a “crash” that becomes more of a joke each month.

So have a good laugh when you read the crap from Curious, the one-liners which are all Old Dog can manage, and the exaggerated claims of any Doomer who has no statistical data to back him up.

Enjoy the summer. I sure am doing so.

That’s what Max would say :-)

By If Max Were Here

July 11, 2007 2:21 AM | Link to this

If Max were here instead of on the vacation he had pre-announced, he would say Hi to CW, AP, and all the others with good intentions.

Max would say any potential sellers out there should do what Max had his people do: take their properties off MLS and take a vacation. Forget about it till Labor Day. Take a vacation from worries about real estate. There is no crash, there is barely a decline on an overall basis.

To those who are foolish enough to lower their prices when there is no one even here to see it, stop it. Take a break and take a breath. Most of all, don’t deal with imbeciles who are out to low-ball you.

Prices rose quite a bit last month, but we are following an annual pattern. We will likely see our normal post-summer dip, however we stand a good chance of being slightly ahead of last year YOY by September.

The market is slow, compared to what we got used to. Otherwise, nothing is fundamentally changed. Despite all the ridiculous “blood-bath” rhetoric in this paper and obscure web sites, life is good, things are normal, and real estate is OK. The summer is always slow in Florida, it has not been slower than usual.

People of means are on vacation from Florida. Unfortunates like Curious are here wasting their digital breath, making preopesterous, irrelevant comments, and hinting at a “crash” that becomes more of a joke each month.

So have a good laugh when you read the crap from Curious, the one-liners which are all Old Dog can manage, and the exaggerated claims of any Doomer who has no statistical data to back him up.

Enjoy the summer. I sure am doing so.

That’s what Max would say :-)

By Max would also say...

July 11, 2007 2:29 AM | Link to this

Sorry for the repetitions, using a hotel computer.

Ciao for now.

By Old Dog Realtor

July 12, 2007 5:31 PM | Link to this

Those sale prices keep a droppin’!