By Joe 6-Pack

November 28, 2007 1:17 PM | Link to this

Still too high. How can the average “Joe 6-pack” style of guy afford a home in Palm Beach County? Did you know that 90% of the people living in Palm Beach County can’t afford to own a single-family home here.

By Rich R

November 28, 2007 1:20 PM | Link to this

More Good News.

:)

By Anti-CW

November 28, 2007 1:26 PM | Link to this

But I don’t understand, CW says that activity is picking up. How can the number of sales be down 27% from last year(which was a terrible year)?

Its just another example of how wrong and stupid CW is.

If I had a nickle for every time I heard a realtor/mortgage broker saying that activity is increasing over the last couple of years, I’d have enough to buy the median house in PB County in cash.

Rememer, they key is number of sales. As long as that number is dismal (I think its the lowest EVER for October in PB County), do as CW does and sit on the sidelines. And remember to ignore CW and his cheerleader donald trump wannabes.

By Jill Cheap glass of wine

November 28, 2007 1:35 PM | Link to this

Still way too high. How can my husband, the average “Joe 6-pack” style of guy afford a home in Palm Beach County for me and two dogs? Did you know that 90% of the people living in Palm Beach County can’t afford to own a single-family home here.

By good news

November 28, 2007 1:58 PM | Link to this

oil is down

market is up 300

house prices are coming down to where i can afford it

things are looking up

i have 140k to put down on a house

i want one around 275k range

small mortgage of 130 to 150k and life is good!~!

By Rich R

November 28, 2007 2:49 PM | Link to this

I’d like to congrats to America.

This afternoon at 12:36PM American credit card debt has acheived the $1 Trillion Dollar level. This is “Consumer Debt” and does not include Corporate Credit Cards.

Time to pay the piper people.

OMG, fasten your seat belts folks, it’s going to be all down hill from here.

Let me say that again….

$1,000,000,000,000.00

What are you people thinking?

Shame, but very true.

By max challenges the b******t --again

November 28, 2007 2:58 PM | Link to this

In their usual fashion, both Jeff and Linda were careful to report that SFH prices in PBC were down 5% YOY. Now the Doomers have something to work with, right?

Wrong.

What they carefully omitted telling you was that over the past year, SFH prices were essentially flat in Miami-Dade, and they were UP 1% in Broward, according to FAR statistics which you can check at media.living.net .

So imagine this: for the past year, nothing but stories about housing disasters from Jeff and Linda, and when you have had a full year of this B.S., it turns out prices did not even fall in 2 out of the 3 tri-county areas.

Doomers, I will be the first to admit that 1% up in prices is unimpressive. But I will also point out it is hardly the disaster you have been claiming for the past year.

Folks, have you had enough of this? Have you had enough of Linda and Jeff’s lies of omission, of their telling part of the truth?

Start calling the Post editors and demanding the whole story, not the part that meets these reporters’ expectations.

By MaxiCombOver

November 28, 2007 3:18 PM | Link to this

On other blog term “comb-over pricing” was used to describe how so many in SoFl try to cover their house “baldness” with still high asking prices they and everyone else really know will never happen for a long,long,long time.

Lets them maintain illusion of wealth . Just like old guy stubbornly weaving last strands over bald dome.

Fools nobody, but makes baldy feel good.

comb-over maxi is epitomy of futilie reality cover up attempts.

By Where's the 12%

November 28, 2007 3:35 PM | Link to this

Remember when Maxi was saying that home values rise by 12% per year on average?

So is a 5% drop equal to a 19% drop in Maxi world?

Lets hear it from Easy with “PRICES ARE RISING AS WE SPEAK”

By Rich R

November 28, 2007 4:37 PM | Link to this

Everyone seems to forget about the horrible word of Inflation.

If you account for inflation, and I mean the REAL inflation, not the number reported by the White House, you will see home prices have dropped much more then reported.

And, if you ask any seller, you will find the TRUE number is much worse.

LMO as I was right going back two years now.

Ok, Maxipad, get real…..

By Jeff Ostrowski

November 28, 2007 5:16 PM | Link to this

To max challenges the b**t —again: The Post covers Palm Beach County and the Treasure Coast, so we write about home prices in Palm Beach County and the Treasure Coast, not Broward and Dade.

By Numbers, numbers, numbers

November 28, 2007 5:29 PM | Link to this

Miami Aug 2005 Sales = 1,106 Single Family

Median Price = $356,900

Miami Oct 2007 Sales = 367 (down 67% from Aug 2005)

Median Price = $354,800

Price down less than 1%.

Something doesn’t compute here. Maybe a greater # of higher than median priced homes are selling v.s. lower than median priced homes helping prop up the median price.

Look at PSL/Fort Pierce:

Aug 2005 Sales = 741 Oct 2007 Sales = 218 down 71%

Aug 2005 Price = $267,600 Oct 2007 Price = $201,000 down 25% (and heading lower still)

By Max to Jeff

November 28, 2007 6:25 PM | Link to this

Jeff: I myself have made the argument, on this blog, that I care MOST about prices in PBC, not in Ypsilanti, Michigan.

However, do you not feel ANY obligation to let people know that the hotly debated “price crash” does not actually exist in Broward SFH’s over the past year?

Most of us in PBC live closer to Broward County than to Martin County, in fact many of us in Boca live within a few hundred feet of Broward.

Is it completely irrelevant? How is it you go quoting Jack McCabe out of Deerfield (Broward) all the time, when he (falsely) claims prices are crashing? Are you not now being hypocritical?

By A.P.

November 28, 2007 6:30 PM | Link to this

Well said Max!

By BIGROB

November 28, 2007 6:31 PM | Link to this

WHAT no hurricanes to scare buyers and the prices keep on dropping!!!The home prices continue to fall like a rock,any realtor in palm beach county should be concerned with only one thing?Paper or plastic.HA HA GET A REAL JOB.You know what is really funny, all of you so called smart guys go down with the ship.People who beleve their own lies are in big trouble.Has anyone noticed there has been an increase in home fires lately…HMMM

By don't worry, be happy

November 28, 2007 7:55 PM | Link to this

The only thing I can say to those who say that the regular guy cannot afford this market is this: Joe six-pack cannot afford the NY market either, but they still live there. The difference is that they have to rent. Europe is buying up prime properties in the US due to the fact that our dollar is falling and is worth less. Those that can afford homes will own homes because having cash is worthless. I also saw an article that theorizes that home prices must come down to balance with rental prices. Can’t you also say that rentals will go up to match the home mortgage prices? All I know is that our market is lower than that of California or New York and is still far superior to those areas. Those that get out now will not be able to afford to return if they change their minds later. By the way, the average Joe can afford more home than he is living in if he were to save the money he spends on sports, beer, pornography, cell phones for everyone in their family (including his 5 year old), i-phones, x-box, golf, and toys to keep up with his buddies. If the average American would not get a divorce, his money situation would allow him to buy more house. If the average American did not spend all his leisure time watching TV and playing video games, having 50 thousand dollar weddings, going on cruises, smoking cigarettes, trading in their cars after 5 years, and buying pot for his kids, maybe things would change. The truth is that the average American does the right thing and that is why they can afford their own homes. For those who are starting out now…my advice is to save your money so you can have a house with a yard (the American dream)!

By Broward

November 28, 2007 8:25 PM | Link to this

maxi more comical than ever.

Broward is going to be worse than PBC.

Check out WCI project on Atlantic and A1A. Completions creeping up on phase one. Already ads for resales as flippers getting desperate. Same with new condos and townhouses on Briny in Pompano Beach.

WCI may not be able to even start phase two of Atlantic and A1A project. That may be out the pre-construction buyers are looking for to break contracts.

Here is nice deal in Lauderdale by the Sea :

1460 S Ocean 301

Paid $1,361,900 in 2006

Now pre-forcl listed at $1,200,000. Not even any lookers.

prefer a SFH ?

7245 Lemon Grass Dr

6/5.5 6,044 sqft

paid $1,946,800 12/2006

now trying to bail, trying for $1,900,000. No takers in sight.

You have NO IDEA of the mess ahead in Broward .

And now to top it off, maxi’s kiss of death. Everything this guy has touted has gone the other way.

By Max raps Broward's knuckles

November 28, 2007 8:54 PM | Link to this

Mr Broward, a liar like you besmirches the fair name of the county you have usurped eponymously.

Max is the one who refuses to predict the future — if you don’t remember, scroll back to ANY of my commentary dealing with prognosticators.

So saying “everything this guy has touted has gone the other way,” is a flat-out lie, because I have not “touted” anything.

But smarter bloggers than you (i.e., everyone) know this and there is no point wasting time on your stupid palavering.

Here is Broward in a nutshell, you being the nut:

Median price on SFH:

October 2004 294,300

October 2005 368,900

October 2006 349,400

October 2007 354,00

In other words, the entire real estate “crisis” in Broward is a 4% drop from a hurricane-inflated month, over the course of TWO YEARS. The stock market goes down more in two days and sometimes does not recover for decades.

Since last year, the “crash” is non-existant, with prices UP — read again — UP 1%. It’s not much, but it’s not a crash.

Since October 2005, prices still up 20%.

WE have no idea of the mess ahead in Broward? Wrong, Stupid. YOU have no idea, because you are the one foolishly trying to predict the future.

Max makes this suggestion for this shithead “Broward” or any other who thinks he can predict the future: Go to 7-11 right now, buy a lotto ticket from Singh, and pick 6 numbers. Let us know how you did.

By Average Boom Realtor

November 28, 2007 9:07 PM | Link to this

Where can the average ‘boom realtor’ (a fool who rushed out and got their realtor licence in 2005 thinking they would get rich making big money selling investment properties)

So where can the average boom realtor make a bloody sale?? I was told there was big money in real estate. I spend the money, obtain my licence, quit my cubicle job, but havent had a sale since Oct 2006! HELP!

Come on people, NOW IS THS TIME TO BUY! PSL has many brand new homes ready for move in. PSL is the hottest growth area in the country! Thousands of high paying Bio research jobs are just around the corner. Hurry!

Whoops-forgive me. I was reading an old newspaper from 2005. Where are those bio tech jobs anyway? What do you mean they’re not really coming? But what about all these nice new houses up here in lovely PSL?? Surely SOMEONE will want to live in them. Someone? Anyone?

By TO Average Boom Realtor

November 28, 2007 9:17 PM | Link to this

“…Surely SOMEONE will want to live in them. Someone? Anyone?”

Let me ask you a silly question. Pardon me, but I’m not as bright as you, but…..do you live somewhere? I’m guessing you might live in a house, condo, something other than a dumpster.

Trying to make fun of millions of people who actually live in a dwelling that they own is a ludicrous way to go through life. What is your point?

By Open Windows in Delray

November 28, 2007 9:29 PM | Link to this

Now is the time to live in Florida. Open the windows, give the AC a well-deserved break. Its warmed up some recently, but still pleasant enough to go fresh air.

I dont know who the Delray basher is, but he obviously is delusional. If Delray was so bad and ghetto, I highly doubt East Atlantic ave would be so packed with both locals, and tourists day and night.

Yes, Delray west of Old School, east of I-95 has its problems. But at least the hoodlums dont invade East Atlantic every Saturday night the way they do City Place.

Where Im at, east of Federal, is quite nice. Clean, fairly quiet, and safe. My windows stay open all the time. My building is well guarded. Two units on either side with nosy senior owners, with the Delray cops on speed dial, who keep a constant vigil. Any shifty characters enter the premises, will have the cops called before they can decide which unit to break into.

Believe it or not, I rarely even lock my door when I walk around the corner to Publix or Walgreens. I dont need a dog, or a lock. I have Harold, and Edna. Don’t believe I leave my windows open? Perhaps you’ld like to see my recent FPL bill of $42.55?

Enjoying life, saving money, living cheaply by RENTING in a great neighborhood. Whoa is me, a ‘Have Not’!

By To Clueless

November 28, 2007 9:49 PM | Link to this

To to average boom realtor…Did you actually READ that post? I was not making fun of owners. I was making fun of WANNABE real estate tycoons who jumped on the bandwagon and got broker licences, then reality hit.

I have NO qualms at all with anyone who owns a home that they actually LIVE in and plant roots in.

Its just the flippers and speculators I like to mess with. Oh, and come on. Port St Lucie? ANYONE who believed that the boom up there would EVER take root and last has no business controlling their own assets. They need to be under a relative’s custody for their own protection.

PSL stands for Port St Losing, as in rapidly LOSING value. Those brand new homes in PSL you see hyped in the Post RE SUnday section will be selling for under $100,000 before its all over.

There aint no bio-tech industry coming to PSL, those were just clever rumours created to generate RE development and sales.

Open your eyes people. If youre a bio-tech leader, and you want to expand, why on earth would you leave the NC Research Triangle, or California, or an elite Ivy League coridor to start from scratch in Port St loser??? Yes, there wold be plenty of cheap immigrant labor to handle the janitorial and landscaping chores of your campus, but you can find that in NC and Cal too.

There is no new bio tech hub coming to South Florida. That was ALL about real estate. Now that RE is dead, say bye to all those wonderful new jobs.

By My FPL Bill

November 28, 2007 9:50 PM | Link to this

I have never thought FPL was high priced. If there is one thing we have in this state, it is cheap utilities.

We have a 4/3 with a 16 x 32 in ground, beautiful pool and spa. My pool pump runs 4 hours per day 6 months out of the year and 5 hours the other 6 months. We have high ceilings in half the house, 2400 sq ft under air. We never have our a/c set lower than 78 to 80, quite pleasant.

My FPL bill is never over $210 in summer, mostly being in the $180 range, and this month I suspect will be around $160. We do have gas for hot water and stove, so to be fair, that does run me about $50 per month with the higher gas prices these days.

All in all, I don’t have anything to complain about. Tonite, we will sleep with our french doors open to the pool area. Oh, yes, when we sleep with the windows or slider open, the a/c is off.

Worried about break-ins while we sleep, you say? Ohhhh please…..You have got to be kidding.

We live in Jupiter Farms on 2 1/2 acres. Nothing to worry about in that regard. Have fun locked tight as a drum even in the gated comms. Leaving Boynton Beach was the best move we ever made.

Cheers,

JF Gal

By Countdown

November 28, 2007 10:11 PM | Link to this

To Clueless: You hit the nail on the head. Biotechnology Jobs in South FL??
Any biotech outfit that would give up either area you mentioned for S.FL. needs a check-up from the neck-up.

You throw a couple hundred million at any industry and a straw man office is bound to pop up here and there. But the joke is still on Joe Taxpayer…guess where the incentive $$ are coming from.

33 days and counting.

By to countdown

November 28, 2007 10:25 PM | Link to this

33 days to what?

By Monkey Boys

November 28, 2007 10:49 PM | Link to this

Watch very carefully.

The cheerleaders at their office

FL Ren - with cigar and burning the money

CW1900 - necktie on his head and champagne bottle

Maxi - turns the chart back to pointing up

Easy - pushes play on the cassette player

Wake Up - jumping up and down at the end

Michael Fink or Jeff - the human guy talking

The Have Nots - All the monkeys in the cubicles working for the the Haves

Just too funny!!!

By Broward

November 28, 2007 11:40 PM | Link to this

maxi have you been around Broward lately ? Even know where Briny is ? Or situation with WCI developments on Atlantic ?

Take a look at some of the shorts and foreclosures.

You can stroll to Deerfield -

Check 2051 SE 3 St 101

Grab it for only $749K from Novastar.

Last sale was $1,085,000 5/20006.

Now before you start with stats and snidery, get out there and SEE whats going on.

By Michael Fink

November 29, 2007 7:35 AM | Link to this

Max, max, max… You make it sound like we were reading astrological charts to figure out that the housing market was going to crash. It was (and still is) simple math, math that pointed to the now very clear fact that a 40-50K median household income cannot support a 400K median home price. Add in the high taxes/insurance, and it was like predicting that someone who jumps out of an airplane will eventually hit the ground… DUH!

The point that you are missing is that we DID predict the future, because, unlike the lotto, the future in housing is largely predetermined. There is SO much data on the price movements of homes throughout history, and by just combining a few of the data points the crash becomes not a “tea leaves” prediction, but more a predetermined outcome.

I saw that Robert Shiller (the one who developed the math behind much of the housing bubble, and debunks many of the RE myths for everyone) has a futures market traded for home prices. This market (it’s thin right now, but volume is growing) is currently pricing in a 20% fall in median home prices next year across the county. The bubble areas will absorb most/all of that pain, with FL likely being right at the top of the list.

I think that 20% is perhaps a bit too high for the national market next year (it’s just SO big and moving so slowly), but not for FL itself. 20% down is, imho, in the bag for next year, assuming there are no hurricanes. Add a hurricane, and we could finally get to the point where buying makes financial sense again.

Max makes this suggestion for this shithead “Broward” or any other who thinks he can predict the future: Go to 7-11 right now, buy a lotto ticket from Singh, and pick 6 numbers. Let us know how you did.

By Get in the Game

November 29, 2007 8:40 AM | Link to this

All the name calling back and forth is childish.

People are upset on both sides (Cheerleaders and Doomers).

Again, I think the point is trends - run in cycles.

Businesses, equities, bonds, commodities, on and on.

And yes, you throw residential RE in there as well.

Also, the 70% drops in a year and back and forth nonsense…is just that, nonsense.

No one is going to predict the exact timing or the future or the ‘bottom’ of the housing sector.

Again, I think the point for EVERYONE is that housing had a phenomenal run. Yes, it was exciting. Magazines, cocktail parties, major headlines…all had the fever of ‘investing’ in residential RE. People sleeping out overnight like they were buying an iPOD. Everyone was swept up; AND

Not many people were immune.

However, this amazing run had to end. Just a basic cycle. People will throw all kinds of stats and other evidence at you.

Point is unless people can afford what you are trading (in this case houses) then regardless of what you read either one of two things MUST happen -

a) Prices must retreat, decline, slide, fall, (insert whatever verb you want here) to meet people/couples purchasing power; OR

b) wages MUST increase, ratchet, grow, balloon (again, insert whatever verb you want here) to match the price of what you are trading.

Period.

Forget the credit card debt, the ‘credit crisis’, ‘subprime meltdown’, the price of oil, whether the consumer is ‘tapped out’, America’s savings rate, the plethora of Baby Boomers enroute for SoFl, the debasing of the dollar, the Russian oil tycoons and Latin American flocking to America,…

In the end, does not matter…

Either people have CASH and can afford to purchase something or they need to add DEBT from a bank to acquire a house.

And even the people acquiring houses in 2007 prices, I do not think can afford the house they are going to reside in.

So, you guys can go back and forth…tout NC vs. GA vs. SoCal…point is can someone must pay CASH or can they pay the DEBT SERVICES required for the trading of a house.

Point out (AGAIN), in the late 70’s when Carter was running around acting as President and interest rates were a bit much, people waited in line for house debt (and even overnight).

Funny part, these individuals had 20% PERCENT in hand AND the house was no more than 3x their stated income. Go figure.

By Maxi's future

November 29, 2007 8:52 AM | Link to this

Maxi, didn’t you predict that in the future all homes would appreciate at 12% per year?

Come on Maxi, you have to be more honest about what you said.

You really are a sad pathetic little man.

By Realist

November 29, 2007 10:05 AM | Link to this

“The median price for existing condos plummeted 30 percent to $158,900 from $225,500 a year ago.” As I predicted a 30-50% drop in prices and here we are. SFH are down 17% from top. By next summer we will reach 30% from peak for SFH. I really don’t know how Max could even try to spin this but I am sure the shill will try. I noticed that CW has admitted there is a “credit problem” now once he connects the dots and realizes the price inflation was due to the easy credit he will come over to the “dark side”.

By easyasabc

November 29, 2007 10:47 AM | Link to this

Oh what a beautiful morning….Oh what a beautiful day…….lets see, alot of talk yesterday, and only a few made sense on what they were saying…..I have to say this, that the median price can stiill drop another $50,000 (which it won’t) and the “have nots” will still be renting…..this might be the bottom that the “have nots” were looking for!…..the guy who wrote at 7:55 pm last night was excellent on what it takes to own property……what is scaring the real estate industry now is the lenders….the median price to many is very fair across this country….the Wall St. guys want you to invest in stocks rather in real estate….they just want to bash this market low enough so they can buy into the area when they retire….all about greed, everyone want to take so much, and offer back so little………so many corrupt loans and deals were made from lenders, appraisers and realtors during the boom time, it is hurting everyone now who wants to buy or sell a house…..typical amerian story, we had the chicken who laid the golden egg, and some idiots came by and wanted fried chicken instead of having eggs every morning……longer it takes to get a loan, the more money comes in the pockets of landlords in this country from people who do not own…income property will be the way to go……there will be a withdrawl on home sellers soon, they will take their property off the market until the median price goes back up….for the “flippers” who are low on money, it might be time to toss those keys on the table….your loans you took out and those updates that you put in, cost you more than your house value is now…….It seems that “Average Guy” is still around whinning like a little girl….so many like him out there….very bitter because they make so little at their job, or their first wife took them to the cleaners in the divorce……..yes Rich R., the problem is with the credit cards….soon, people in Mayberry will get lower offers from all those “halfbacks” coming into your area, because they sold lower here….you might start seeing 40% less from the asking price in your neck of the woods….price of median condo here is less the median price of a house in Raleigh?????…….I watched “what you can get for your money” in Charleston, SC…..it look ok for someone who wants something cheap,…..they did recommend a screen porch on every house because of the bugs at night there…….ocean breeze takes care of that problem where I am at………The last two days in the stock market were the biggest gains since 2002….but those numbers can be played with also…for the year we are about 6% on the plus side….market today is for the gambler who looks to get rich in the matter of hours rather playing it out for the long term….that is why you will see this market as a rollercoaster for ahile……..Jeffery boy, your real estate section will always be third rate in this market….Miami Herald and Ft. Lauderdale Sun-Sentinel reports the Palm Beach real estate market in their news….in fact, Sun-Sentinel breaks down the neighborhoods here of who sold, how much, seller/buyer names, sq. ft, taxes, etc., in their real estate dept. ……Oh My God, Linda Rawls is getting her hair and nails done…she is getting ready for a new negative story…….PSL, remember how many people went up there looking for Shangri-la ????…..No jobs, long drives to get anywhere, druggies as your neighbors….and too many new yorkers..BTW, don’t get into a car accident in St. Lucis county….EMS will charge you $1,000 for treating you, if you are not a resident of their county……another $1,000 if they have to use the “jaws of life” to cut you out…….I think a boycott of St. Lucie businesses is in order for this stupid charge…..next, you will hear Fire Departments charging people for how much water they had to use to put out a house fire….or Police charging criminals for the bullets they used to shoot them as they flee…..is this world getting whacky or what?????…….Banks are taking a lost, but they do have one thing in their favor, they hold property that will return to a higher value…..you really need a house loan???…then you need to buy a house that the bank is holding…and pay all those hidden costs that they will tack on to you….including part of the mortgage the last owner failed to pay to the bank……and taxes…….I know now the employment outlook for realtors is bad in this area…..with more FSBO signs replacing C-21 and ReMax signs, and the access to the internet on viewing listings, it just takes the middleman out of the picture even more to make a commission…….the main push to sell will be realtors selling their own house or condo……”good news” should easily get a loan now for what he has to put down….what he is looking at for price is something in the “Hood” areas…..may I suggest Riveria Beach or Lake Worth areas for you and your disfunctional family….you be able to watch “live” drive by shootings outside your door instead of watching “COPS” on tv…….if I said it once, I say it again….people who tell how much they have, really don’t have it……….prices are rising as we speak…..your gas, your food bill, your rent, your entertainment costs, …..one way or another, someone will get your money…..your spouse on their personal needs, your kids on their electronic toys or school costs, the doctors for treating infections, your divorce attorney becausae you gave that infection to your spouse,….and your landlord, for keeping a roof over your head and you being too stupid not investing into real estate….you rather invest your money at the casinos, ball games, restaurants and those exotic four day vacations you like to talk about to your co-workers at your low wage job ……$1 Trillion?….think about Zillion in a few years!….we have so many stupid people in this country……and the banks are laughing all the way to their vaults with your money and your property……these reverse mortgages will help subsidies all these bad loans that the banks took on…….kids will watch mommy and daddy blow their money away and get nothing out from their parents after the old farts fade away….or, with adjustable rates these banks have on reverse loans and devalue of property, the old farts will end up at their kids rental unit and double up with them much sooner after they go through the loan value…….(note to myself, add surcharge to next rental agreements on extra people in unit.) …….fianlly, I want to talk about Global Builders….anyone see this story how they were growing pot in their model houses that were not sold????…..many arrests, ….cars, trucks and houses will be lost…..someone should check up on the Toll Brothers!!!!……this place is full of great stories……Can you imagine the sales people at Global at their models….there will be brownies on dishes in all the rooms….the smell of weed in the air….instead of bottle of champaign on your buy, you get a six foot high weed plant…..kids get treated in a playroom to roll weed as mommy and daddy light one up with the salesperson and sitting in a hot tub as they do house tours……and you visit all the models in a golf cart doing 2 mph….I can see a bonus of getting a pool package from the builders where the landscape area is full of imported South American smokeable plants blocking out the neighbors view of your yard……but, I rather smell and see a fresh bake pie if I was looking at houses……or maybe some cookies…….drugs are bad…..apple pie is good!

easyasabc

By An Old Real Estate Lawyer

November 29, 2007 10:49 AM | Link to this

Another news media GANG-BANG of the South Florida real estate market! A four year media assault on the S. Florida real estate market to SCARE AWAY BUYERS and make a SELECT few FORECLOSURE CONSULTANTS rich. PALM BEACH POST Reporters like JEFF OSTROWSKI continuously MASQUERADED foreclosure consultants as impartial real estate experts with fabricated horror stories like the phantom 100,000 condo’s being built in Miami. Of course, there were never more than 6,000 condo starts in all of Miami-Dade county a year and it would have taken over 15 years to build 100,000 condo’s but The PALM BEACH POST didn’t care about the truth. The news media only cared about DESTROYING the real estate market with BUBBLE headlines that became a SELF FUL-FILLING PROPHECY!

By Michael Fink

November 29, 2007 11:52 AM | Link to this

National home prices fall for the first time since 1994…

http://www.ofheo.gov/media/pdf/3q07hpi.pdf

The Palm Beach post defianately has me impressed with their ability to crash the national housing market. I never thought they had that kind of influence.

The Post, and the media in general, can tell us whatever they want. It does not matter; it’s like they publishing that 2+2=5. They can print it all they want, it will not make it true. Home prices are a simple math problem, and 10X median income is not even CLOSE to sustainable. 5X is high, 10X is just insane. It had to fall, there was no way that it couldn’t fall. It was just a matter of time.

By To Delray Windows

November 29, 2007 12:04 PM | Link to this

ahhh…I forgot about the invisible barrier that surrounds downtown Delray. My mistake. How does that barrier work again? It only lets through young ignorant renters? It also works as a sound barrier too, right? Isn’t Delray the place where they just passed a new sound ordinance because of the excessive motorcycle noise?

Yes, that must be fun. Walking distance to all of those fine establishments. Just watch out for pitbulls when your at Starbuck’s (the barrier doesn’t keep out the riff-raff’s animals).

You’re such a tool. Rent while you can still afford such a “luxurious” lifestyle in such a metropolitan setting. Make sure you save enough so you can actually afford a home one day - you know a place with a wife and children - a place where they can walk around and feel safe. Heck, maybe even have a yard.

PS - a $42 FPL bill for someone alone in a 1 bed apt isn’t any bargain chief.

By max to finkus dementus

November 29, 2007 12:34 PM | Link to this

Fink, you break me up.

What YOU predicted Fink, was a 70% across-the-board price dcecline in the U.S., and you predicted it for a full year ago. You said 2007 would be the worst economic disaster in U.S. history. For anyone who doubts that, it is all here in the archives.

Earth to Fink: you were wrong, plain and simple. I am sorry for homeowners here and there who are over-extended, but there is NO real estate disaster.

If 4% down in Broward over two years after a massive increase makes you think you predicted the future, you are even sicker than I thought you were when you recommended stealing rent.

EARTH to DOOMERS: THERE WAS NO DECREASE IN PRICES THIS PAST YEAR, IN 2 OUT OF 3 SOFLA COUNTIES. Your “DISASTER” remains a prediction — and probably a bad one.

People like Shiller the con-man have good reasons for making predictions like that: he stands to sell billions of dollar of housing “puts” (different from Putz, which is Mike Fink, and not worth 2 cents).

Other con men like Jack McCabe are making millions on the interest on the money they raised to “buy Miami real estate for pennies on the dollar” — which will never happen.

The rest of you are just plain stupid, since you gain nothing by making predictions which grow more idiotic everyday.

Did PBC do a little worse than Broward? Yes — by a wopping 6%. The stock market goes down that much in 2 days.

As for Port Saint Lucie, I think big drops there are merited, because there isn’t a reason on earth to live in Port Saint Lucie even in the BEST of times.

BTW — I was also amused by the guy telling us we are “screwed” if we have a condo in PBC. I have fabulous tenants, they want to renew and pay higher rent, and the places cost almost nothing out of pocket. The lower values are still dramatically higher than what I paid. So tell me: exactly HOW am I “screwed”?

Fink — how did you do on the lotto test? Not so good? Here’s an easier one, since you think you are such a good prognosticator: predict the direction of the stock market for the next 5 days (next week). You don’t even have to know the closing numbers, Fink, just the direction. I will bet you that you can’t even do THAT.

You can not predict when you will take your next crap, Mike, so stop filling this blog with your crap.

And for the rest of the Doomers — I AM STILL WAITING FOR THAT CRASH!

By Old Florida Cracker

November 29, 2007 3:20 PM | Link to this

Another news media GANG-BANG of the South Florida real estate market! Mortgage INTEREST RATES are FALLING like a rock and The Palm Beach Post reports rates are rising! Broward and Miami home prices are UP year over year and The Post doesn’t report good news! A four year media assault on the S. Florida real estate market to SCARE AWAY BUYERS and make a SELECT few FORECLOSURE CONSULTANTS buddies rich. PALM BEACH POST Reporters like JEFF OSTROWSKI continuously MASQUERADED foreclosure consultants as impartial real estate experts with fabricated horror stories like the phantom 100,000 condo’s being built in Miami. Of course, there were never more than 6,000 condo starts in all of Miami-Dade county a year and it would have taken over 15 years to build 100,000 condo’s but The PALM BEACH POST didn’t care about the truth. Ostrowski and Rawls only cared about DESTROYING the real estate market with BUBBLE headlines that became a SELF FUL-FILLING PROPHECY!

By PSL Prophetic

November 29, 2007 5:03 PM | Link to this

Wow…I never could have imagined how prophetic my post was yesterday evening until I read the Thursday Biz Section of the POST about Port St Loser.

New homes in PSL Tradition areas will be going for under $100,000 before the end of next year. Great bargains for all those incoming bio-tech workers to fill all the high paying jobs in PSL’s thriving bio-tech industry.

To Delray Window detractor: Perhaps $42. FPL bill isnt great for a 1brm, but I have a 2br 1.5 bth, appx 1000 sf. I’d say $42. FPL bill is pretty darn good. COnsidering POST columnist Emily Minor just wrote about her avarage $400.00 FPL bills at her 1200 sf cottage home.

Most Floridians I know never see electric bills under $100. and that includes 1brm apts and condos.

By 4br home in pbg

November 29, 2007 7:02 PM | Link to this

built in 1969 cbs 8 ft ceilings w/ pool west of military near the catholic church. nice family neighborhood.

my fpl bill average around $200.

the key is to keep your a/c set to at least 77 or above at all times and bed time 80. you sleep fine.

$400. never. not at my house.

By FPL snide

November 30, 2007 10:17 AM | Link to this

3,000+ sf under air 5/3 and FPL bill typically $150-175/mo. Expecting much less for this last month as the windows have been open night & day since end of October. That’s the benefits of new construction - better insulation,HVAC design, new energy star appliances.

By Big Pizow

November 30, 2007 6:59 PM | Link to this

I stay in a double wide let me repeat… DOUBLE WIDE! talkin bout 1600 square build under A.C. built right here it the US of A. 3 big screen T.V’s (real big not them there flat panels) I got a full size satellite mounted to the roof and my trailer with full GPS capabilities. And believe you me that aint the only thing mounted in my trailer! Oh yeah, my point being (besides living the high life) is that my FPL bill is zero on account of my solar power panels.