By jayfinn

March 4, 2008 6:04 PM | Link to this

Jingle mail? Most lenders are just glad to get the house back without finding feces smeared on the walls or sledge hammer marks on all the walls. Like its the lenders fault that you stiffed them and their stockholders. You all got caught up in the irrational exhuberance of 2004/2005. As your lender said: Please don’t loot, if you get the boot.

By Say What

March 4, 2008 10:59 PM | Link to this

“crapped-out borrower”??? I think Jeff meant to say “tapped out” but he was thinking of having to go somewhere else. ;-)

By Curious

March 4, 2008 11:17 PM | Link to this

“The latest catchy phrase in the property patois:”

SCORE AGAIN for Jeff.

Alliterative, mellow and catchy cool!

:-)

By Jeff Biased?

March 5, 2008 4:18 AM | Link to this

“I can’t help but chuckle when Realtors cheerily tell me the housing market is poised to rebound any moment now.”

Jeff biased? Naaahhh.

With Linda and her blog characters gone there is no one left but Curious the Clown and Jeff, the Water Boy for the Post Editorial Team.

I can’t help but laugh when I see a man Jeff’s age writing blog intro’s for a living.

And no one can help but laugh when they read Curious’ prophecies. He predicted this was the next great depression. Instead he got an 8% decline in prices in Palm Beach for 2007, so he congratulated himself. It’s probably the closest he came to being right in his entire miserable life.

Hey Jeff, think you’ll ever get a real job in journalism?

Naaahhh.

By Rich R

March 5, 2008 10:03 AM | Link to this

“Jingle Mail”

Just way too funny.

By DRIVE BY MEDIA VICTIM

March 5, 2008 10:35 AM | Link to this

In case Toll Brothers (and other real estate industy professionals) are wondering how the market got this bad. After a four year news media GANG-BANG of the housing market every one is paying the price! See how many ways blood thirsty reporters at The Palm Beach Post slammed real estate:

1.Routinely MASQUERADING foreclosure and distressed property consultants as impartial real estate experts whose always negative comments became a self full-filling prophecy TO SCARE AWAY HOMEBUYERS!

2.Quoting Wall Street brokerage economists whose only interest was to kill the housing market and drive investor $$$ back into stocks.

3.Targeting Florida with completely fabricated horror stories about 100,000 condo’s being bulit in Miami when condo construction starts in all of Miami-Dade never exceeded 6,000 a year!

4.Constantly telling readers that mortgage interest rates were rising when interest rates were actually FALLING!

5.Hyping foreclosure statisitics but NEVER telling readers that over 40% of Florida homes DON’T even have a mortgage!

6.Deliberately reporting and misrepresenting much worse foreclosure stats from Arizona and Nevada as Florida’s (A Palm Beach Post special tactic).

By DRIVE BY MEDIA VICTIM

March 5, 2008 10:55 AM | Link to this

The derogatory term “See Through Condo’s” was frequently quoted by Jeff using his SECRET FORECLOSURE CONSULTANT BUDDY which The Palm Beach Post regularly MASQUERADED as an impartial real estate expert and who went on to be quoted about 14,000 times accoridng to Google by every newspaper in the country including The Washington Post, USA Today and the New York Times thanks to Jeff’s subterfuge. Talk about HAMMERING the real estate market with fabricated horror stories like the infamous 100,000 mystical condo’s being built in Miami when their were never more than 6,000 condo starts a year in all of Miami-Dade county or the inflamatory “See Through Condo” line for vacation/second home buyers from South America. This was same guy who incredibly exclaimed in The Sun-Sentinal and the New Times…“Who wants to live on Las Olas”. A perpetual real estate basher who makes his money off foreclosures. No foreclosures MEANS no money. So Jeff and the Palm Beach Post became cheerleaders for a crash and gave these guys front page BUBBLE HEADLINES FOR THE PAST FOUR YEARS. Yet, in the end condo prices in Miami-Dade have been UP for the past three years while Palm Beach prices have crashed. As proof, that thankfully no one in Miami-Dade reads The Palm Beach Post!

By Get in the Game

March 5, 2008 1:11 PM | Link to this

What are you talking about?

CA, AZ, NV, and FL just had the GREATEST run-up in prices over a 5 year period (2000-2005) for quite a long, long time.

Again, trees don’t grow to the sky.

These prices are just not sustainable.

I am unclear and unsure of what you are speaking of…

1) Debtors cannot pay the creditors (the actual OWNERS of the house) - then they cancel the lease and take back the house.

2) Wall St. ‘economists?’ Please! These guys/gals are on the payroll. You might as well throw them in with appraisers. They almost always have to have a bright, rosy picture.

3) Targeting FL? Well there are several apartment (condo is a glorified apt) complexes being sold in Miami. Have you actually looked at the amount of deliveries in 2007, 2008, 2009, and even 2010. Not to mention, SEVERAL that have been axed.

4) Interest rates are a joke. If you want to add more DEBT to your balance sheet, go ahead. Plenty of rabid suckers that shall easily stroke you some paperwork. Yes, even today. And, BTW, the debtor’s rate is determined by many factors (proven income, credit score, and traditional down payment).

5) I agree with you on this one. This is the govt as well. Foreclosures are not that big of a deal. Not to mention, they are STILL significantly overvalued.

6) Misrepresenting? Most of the AP bubbas stream from the same hub of info. Remember, ALL the articles from about 2002-2005 stating that housing WEALTH was the new paradigm. Yep.

By jayfinn

March 6, 2008 7:54 AM | Link to this

Some of you are in such denial about the collapsed real estate market in south Palm Beach County. I own a rental unit in a condo project in Delray where my type of unit was selling for $160,000 in 2005. And now there are similar units on the market for $79,900 - and they are still not selling. I bought my unit for around $50,000 in the 1980s and, in hindsight, should have sold in 2005. Also, whereas rentals were $1,000+/month in 2005, you’re now lucky to get $700/month

By Curious

March 8, 2008 5:27 PM | Link to this

jayfinn is one of the few other realists on this blog.

Good post! Greater kudos if you only have that one unsold property in this area.

:-)