By ALLAN

May 7, 2008 8:52 PM | Link to this

HOWDY !NAME.IS ALLAN ! WE RELOCATED TO HAVERHILL IN 93 ,FRM FT WORTH TX (USAIR FORCE ) I HAVE VISETED LAKEWORTH IN PAST TO VVISIT MY INLAWS WHOM WERE STATIONED AT GUNCLUB LOCATED THERE BY MR TRUMPY BOY WHAT A CHANGE ! AS I ARIVED TO HAVERHILL IS CONCIDERED AS A RETIREMENT PLACE (HOUSING TAKEN OVER BY A PRIVATE CO FRM FLORIDA )HIGH RENT PORE ACTUAL LIVING CONDITIONS ALOT OF EMPTY PROMISES (OLD HOUSING IN DESPERAT NEED OF REPAIR ) JUST TAKE A RIDE INTO THE BACK OF HOUSING AREAS (HOMES THAT WAS PROMISED TO BE INHABITABLE ARE JUST DESTROYED BY VANDALS AND MAINTANCE PEOPLE SCAVAGING FR REPAIRE ITEMS ) ALL IN ALL JUST LOOK FOR YOUR SELF !,,,HAVERHILL OVER ALL IS A GOOD TOWN JUST HAS BEEN LET GO NO REAL LOCAL GOVERMENT A FEW PORE SOLES TRYING TO MAKE A LIVING AND A HOME THERE WITH OUT MUCH LOCAL GOVERMENT HELP ,THE COMUNITIES HAVE GIVEN UP !SCHOOLS ARE AVERAGE !AS WITH ALL SOUTHERN SCHOOLS $$$ PLAY A BIG ROLE (HIGH DROPOUT RATE )..HAVERHILL DOWN TOWN (WAS THE MAIN INTREST IN MY DAYS HERE AT GUNCLUB,STORES TO SHOP WINDOWS TOO LOOK IN AND ADMIRE THE GOODIES THAAT COME WITH A SMALL TOWN ) NOW JUST WALK AND LOOK INTO WINDOWS ALL YOU SEE IS ROOF’S FALLEN IN ABANDONED OR NEGLECTED STORE’S ( CITY GOV NEED’S TO GET A HOLD ON THEM NOT JUST DRESS THEM UP FRM THE FRONTS )LOCAL INTRESTS GOLF COURSE S ONE ON IN PUBLIC IN TOWN ,NEW SPORTS COMPLEX LOCATED ON EAKER ALSO (BALL FEILDS VERRY NICE BEST THING IN BLY. ALSO GOOD FISHING AT COMPLEX )PARK WITH PUBLIC POOL FISHING THERE TOO BUT LAKE IS IN NEED OF CLEANING (ANOTHER NEGLECTED ITEM PARK FUND ARE REDIRECTED TOO GOLF COURSE )THE DOO HOWEVER HAVE A FISHING RODEO FOR THE KIDS (GREAT TIME FOR KIDS ).WE NOW HAVE A SUPER WALLY WORLD / JC.PENNY’S A NUMBER OF GOOD RESTRANTS ! JOB SITUATION IS POOR GAS STASHUNS ARE ABUNDANT (DANGEROUS PLACE TOO WORK ) MAKES YOU WONDER WHY THEY HAVE THEIR OWN AMBULANCE SERVICE LOCATED AT THE PUMPS ! ( HANDY I GUESS )AND POST A NO LOST TIME BOARD AND AWARDS WHEN THE HAVE HAD MANY SERIOUS ACCIDENTS (WITH LOST TIME ) PERSONALLY KNOW OF 4 ,??? MAKES ONE WONDER ! CRIME (HUM HERE IS ANOTHER ONE FOR BOOKS )WITH THE UNIMPLOYMENT RATE THERE U HAVE CRIME ( DRUG’ & DRINKING GOES RAMPED HERE AS DOES THEFT RATE )5 TIME PERSONALY ( 2 B&E ‘S ONE WHICH HAD AN AREST BUT WAS OVERTURNED BY OUR LOCAL’S TOO A RECEING STOLEN MERCHANDISE )HOW MUCH DOES IT TAKE TO CONVICT THEM WHEN YOU VIDIO TAPE THE MAN SMASHING DOWN YOUR DOOR AND WATCH HIM GOING THROUGH YOUR HOME !THEN TAPED PAWNING YOUR STUFF ?OR SEEING LOCAL x WITH KNOWN DRUG DEALERS AS THEY SELL ON STREET CORNER ! HOUSING IN HAVERHILL IS OVER PRICED FOR WHAT YOU GET (CRIME ,FLOODED STREET’S,POWER OUTAGES ,) LAKEWORTH IS BETTER OUT TOWARDS SWAMPS ARE OUTRAGIOUS ( LOOKS GOOD BUTT PORLY CONSTRUCTED HOME S,FOR PRICE’S AKING FOR )12 YRS THERE HAVE SEEN ALOT OF CHANGES AFTER THE MISSES PULLED OUT HAVE BEEN JUST SUPPERFICIAL !TOWN IS HEADING FOR A BIG DOWNFALL (ALREADY HAPPENING JUST LOOK AT THE FORCLOSER RATE ! SCHOOL DROPOUT RATE ! CRIME RATE IF YOU CAN GET A REAL REPORT HE HE JUST TRY ! IF YOU DO RELOCATE I SUGEST TOO RENT A HOME IN LAKEWORTH OR ANY WHERE OUTSIDE OF CITY LIMITS ! GOOD LUCK PS WHAT IS JOB YOUR LOOKING AT ? ALLAN USAF RETIRED

By Teacher

May 8, 2008 10:14 AM | Link to this

Spelling was never a strength of yours I take it?

By Rich R

May 8, 2008 12:30 PM | Link to this

Seems to be unable to properly structure a sentence too.

Wow and he’s retired miliatry; scary.

By ChicagoInsight

May 8, 2008 1:01 PM | Link to this

Just a follow-up on a previous blog about the Haitian mortgage scammers. That pretty much takes the cake. One would assume that big banks and lending institutions might possess a bit of discernment and common sense before forking over big loans.

Obviously that assumption is wrong. Here comes a guy from a country so poor and destitute that some people have had to resort to eating cookies made from DIRT! Yet Mr. Florida Banker gladly lends him $650,000 for another overpriced McMansion. $650,000 could buy half the country of Haiti! Sheesh!

Giving high end loans to Haitians with no proof of adequate income must be the Florida version of ‘Voodoo Economics’! If that is how loosely Florida financial institutions gave out loans, a 10% drop in values is just the tip of the iceberg! Who knows how many more of these voodoo loans are out there? I am sure glad I got out of Florida before the real storm hits. Not to mention hurricane season less than a month away. After two non-eventful years, you are due for good one this year. I’d say a nice week long power-outage would humble the most arrogant cheerleaders.

By Get in the Game

May 8, 2008 2:31 PM | Link to this

And this CEO is a ‘cheerleader’…

Just think what the real drop is going to be for CA, FL, and AZ???

Irrationality on the way up = irrationality on the way down

By REal-Turd

May 8, 2008 3:14 PM | Link to this

I just wanted to remind everyone that prices are at or near historic lows and so is the intrest rate! Now is a FANTASTIC time to buy! buy! buy! Contact your local Real Turd and don’t forget to wipe it!

By Steve

May 8, 2008 8:02 PM | Link to this

Investigate Minto and their mortgage company if you want to see ridiculous loans to people you should never have qualified.Also investigate the many realtors who live in Olympia and their transcations.This is just the beginning of the indictments and arrests.

By BIG ROB

May 8, 2008 9:44 PM | Link to this

BIG ROB IS SMILING FROM YHE BACK OF THE ROOM. RICH YOU STILL HERE>YOU DA MAN. YOU SAID IT BEFORE ME %50 OFF PEAK.HAAAAAAA!!!!!!!

By Get Real

May 9, 2008 4:58 AM | Link to this

Why are so many surprised by the inflated price of SOME real estate? Everything is inflated. Just look at the speculation of gasoline driving up its price (about 50% of the price per barrel is speculation-driven). Take a look at the stock market in general (the instability of it should convince you). Look at the price of food. Look at the deflation of the dollar. I don’t see why people make such a big deal about inflated house values but hand over money like it is going out of style to other inflated investments. You can still make money if you are VERY CAREFUL and do the math. Future rents are projected to increase after the inventory of houses go down. You just have to use common sense to outsmart the cycle. Those that do not follow the crowd being led off the cliff and can think for themselves…yes, those 5 percent who were the students in high school that did their own homework and didn’t copy on tests…yes, those will prosper through these times. The others will learn why it is important to learn to THINK.

By Rich R

May 9, 2008 8:00 AM | Link to this

Hey Big Bob,

I’m right here.

I don’t really post much because it’s the same story.

We predicted this two years ago and were bashed at every turn.

All of these cheerleaders are gone and this blog is not as active aswhen there was an issue to debate.

Doomers were correct, chearleaders were wrong. It really is that simple.

BTW, I was thinking of Mike Fink and wanted to make a point here. For the past two years, Mike Fink predicted this and held off on buying a home. The whole time, the chearleaders kept posting numbers to try to show Mike was wrong and he missed the boat becuase he didn’t buy and was renting.

I would have to say, no matter how you run the numbers, Mike Fink won. And won large.

He can now buy at about 50% off peak prices and have a huge inventory to pick from.

RFLMAO!

By I MISS CW

May 9, 2008 10:09 AM | Link to this

TO GET REAL, Is that you, CW? Sounds just like you.

• CW Fan

By Trouble in the A T L

May 9, 2008 10:19 AM | Link to this

Did anyone see the NBC Nightly News report last night on the chaos and freefall of Atlanta RE, and the massive foreclosure rates? One of the worst in the nation. You think we’ve got problems here? Be thankful we’re not in north Georgia. All those idiots who flocked to Atlanta a couple years back are right back in the same situation. Stupid is as stupid does. You cannt save people from themselves.

By Trouble in the A T L

May 9, 2008 10:26 AM | Link to this

Did anyone see the NBC Nightly News report last night on the chaos and freefall of Atlanta RE, and the massive foreclosure rates? One of the worst in the nation. You think we’ve got problems here? Be thankful we’re not in north Georgia. All those idiots who flocked to Atlanta a couple years back are right back in the same situation. Stupid is as stupid does. You cannt save people from themselves.

By KLOC

May 9, 2008 10:58 AM | Link to this

What or who is a CW? and why should we care?

By To Allan

May 9, 2008 12:10 PM | Link to this

Allan,

Are you just stupid or are you a product of Michigan or Georgia schools? wow.

By DHL

May 9, 2008 1:10 PM | Link to this

Rich & Rob, You experts sound like you are patting yourselves on the back. Some big crash. I am under contract with my house I am selling. Closing on Monday. Tequesta. Bought 2002 $340,000. Selling on Monday for $610,000. Where’s the fifty percent haircut? Quality always wins out. I’d say if I was in Haverhill like that high school dropout who probably peeled potatoes in the USAF, then maybe I can understand a 50% drop, but high quality areas like Jupiter/Tequesta, sorry, but properties are selling if priced right. My neighbor had my same style house for sale for the longest time for $750,000, and nothing, but no surprise is there? He was overpriced, big time. Of course, it would not sell. Give me a break. Price things right and they will sell. DHL

By Hooked a Sucker

May 9, 2008 1:16 PM | Link to this

DHL - reads as if you hooked a sucker.

Shall not be worth $610,000 in 2009.

Kudos to you for closing and getting out now.

Prices are only going to abate - yes, even in the Jupiter/Tequesta/Boca/Las Olas Isles areas that are ‘insulated’ from the rest of the world.

By Rich R

May 9, 2008 3:15 PM | Link to this

Well, anyone can easily figure out that it really depends on when you bought and when you sold. If you bought in mid ‘04-07, you loose and in a big way.

We are almost 50 % off peak prices. If you bought prior to peak, you may still have some paper equity, but just give it a little more time, and that too may evaporate.

‘02 was a good time to buy, consider yourself very luck to have found a buyer. But be careful. I’ve learned it’s not a deal until you have confirnmation of the wired funds or the check is in your hand.

I know of folks that bought in july of ‘05 at the appraised $520K. Working on a shortsale now at $318k. Same story all over town.

Sad, but true.

By Curious

May 9, 2008 6:05 PM | Link to this

Thinking that Get Real is a desperate RE sales person.

Old saying:

If you have to sharpen your pencil to find profit in a deal, you best immediately back-out and go to the next one.

Cheers!

By Curious

May 9, 2008 6:07 PM | Link to this

Thinking that Get Real is a desperate RE sales person.

Old saying:

If you have to sharpen your pencil to find profit in a deal, you best immediately back-out and go to the next one.

Cheers!

By Curious

May 9, 2008 6:08 PM | Link to this

Thinking that Get Real is a desperate RE sales person.

Old saying:

If you have to sharpen your pencil to find profit in a deal, you best immediately back-out and go to the next one.

Cheers!

By BIG ROB

May 9, 2008 10:09 PM | Link to this

DHL There is a fool born every minute and you might be one.Dont put all your eggs in one basket buddy.All you have is a commitment A dreamer or a fabricated post to prop up your false numbers.I have many MLS listings that are current in my data base. They are dropping in price as we speak.The only prices going up are REO held props to shake the ripe nuts from the tree.I beleve you are a nut shaker and you like many other cheerleaders are weak and tired.I am a fierce doomer that happens to own rentals in PBC.JUST GO AWAY

By DHL gets knocked out

May 9, 2008 10:45 PM | Link to this

PS there is only one home that comes close to what you are saying and if so you had to drop the price $90.000 to get your so called commitment.NICE TRY BUDDY!!!You should have sold in the middle of 05 when it was worth $900.000…Your unrealistic story is weak STOP!!!BIG ROB AINT HAVIN IT!!

By DHL

May 10, 2008 9:36 AM | Link to this

Very funny, all of you. Rob, whoever you are, you really have no idea what you are talking about.

Sorry guys, it’s not a committment, it’s a closing on Monday. All’s well. It will happen despite you no wanting it to.

Your logic by saying that I dropped my price 90k is very naive and unrealistic. I actually have a clue about fair, current market prices, annd what it takes to sell a property in this market. Your 900k dream price was never realistic, just as my neighbor trying to unload his at 750k is also a waste of time.

When you have a clue and your buyer is buying to actually live there for what he hopes is over 10 years, then Rob, my friend, you have a fair transaction.

What will dig at some of you clowns is the fact that the cash from this house is going to be put into an interest in a commercial property in Montgomery, AL from where I hail from.

Put it down all you want, it really doesn’t concern me. I am also going to buy a townhouse in a golf course community in the Florida panhandle, not because I think south Florida is finished, is a horrible place, no , none of that. I love it here, but it is time to move on for other reasons you will never know. In 2005 I was not in a position to move, now I am. Could I have sold for a little more than. Sure. Maybe. Who know and who cares? What is is what is happening in my life right now, and for you to try and speculate is quite embarrassing for you.

Bash away, you experts. Have fun at my expense. If you really are an expert as you claim, you’d be trying to sell instead of wasting your time acting like a big shot on some anonymous board.

Cheers to you all.

DHL

By ChicagoCrimeWatch

May 10, 2008 1:19 PM | Link to this

How about that shootout along I-95 from Boyzindahood Beach down to Dopefield Beach?! Exciting stuff eh? Wasnt someone on here dissing Chicago about crime?

Yes, Chicago, like any big city has crime. The difference being, in real cities up north like Chicago and Detroit, most of the crime is confined to specific, well defined areas. In other words, everyone knows where the hood is, and if you avoid the hood, you’re likely to avoid any random criminal actions against yourself. In Chicago, stay out of parts of the Southside and Westside, and you are fine. In Detroit, well, pretty much the entire city is a wasteland, but the suburbs are fine.

However, in south Florida, there is no such distinction between safe and hood. Which is the central city? Which is a suburb? WHo knows? One would assume that in PB COunty, West Palm is the central city, and other towns the burbs. However, Riviera Beach which should be a suburb, is more like Compton. Lake Worth is called ‘Lake Worthless’ for good reason. Boynton Beach which should be a nice, safe retirement community, has become Boyzindahood Beach. Tourist magnet Delray is great East of Swinton. However, west of Swinton to I-95, its another Boyzindahood Beach. Even beautiful wealthy Boca has its hood.

Florida just does not know how to create a proper metro area. The hood is supposed to be contained and limited to certain well marked zones so law abiding citizens know where to avoid. Its not supposed to be randomly intersperced throughout an entire metro area! With the possible exception of Jupiter and Palm Beach Island, there seems to be nowhere else in Palm Beach County that is not within easy access of thugs from da hood. Including Boca.

As for me, I am enjoying life back in the Midwest. Whoops-I left my door unlocked last night. My car windows are half down too. Oh man, my Trek Bicycle is still sitting outside in plain view, unlocked. Gosh I miss Florida…NOT!!!

By It's Official

May 11, 2008 12:24 PM | Link to this

Well folks you heard it here first, the doomers have proclaimed victory. Unfortunately the math doesn’t hold up, but I guess that’s okay, right? 50% off peak declared by Big Rob and Rich R. Where’s that stat? Peak median was $421k, did we drop down to $211k last week and it didn’t make the headlines? I guess I confuse easily. FAR numbers for March = $320k. Hmmm. That looks more like 24% than 50%. 26% to go. Good luck with that. The Fed’s been dropping those pesky rates, but mortgage rates haven’t budged. Sideliners better stop waiting for the lower rates.

Fink should get props for standing his ground though. Right or wrong, he’s got his principles and he’s sticking to them. Sometimes though, you need to like at the really big picture. I got a call from a friend trying to negoiate on a property in “duress”. He lost out over $8k on a $390k property. Now he’s kicking himself, it was a great property (in duress and in pristine condition) in a particular neighborhood he’s been targeting. 3 months later he’s been shut out of several other properties, so now he’s getting anxious and regretting he didn’t put up the extra $8k.

By FinkFan

May 11, 2008 7:07 PM | Link to this

DHL deserves a round of applause for selling his/her house at the asking price, but whether s/he knows the definition of “fair value” is debateable. If a purchaser was willing to pay one million dollars for it, then you could argue that amount was the fair value. Since Jupiter/Tequesta is a high quality area, I’m sure it’s different than all of the other locations that are experiencing price drops. Yeah, I’ve lost count of how many times have I heard that statement.

Why wouldn’t 482k, which equates to a 6% annual increase in the 2002 price, be considered fair value? I feel pretty secure in assuming that you would have rejected such an offer. Heck, you’d probably consider it so low as to be highly insulted.

Congratulations, DHL, on selling your property!

I believe Rich R. once said the real value of anything is only what someone’s willing to pay on the day you sell, and he is correct. By the way, what ever happened to Fink and the cheerleaders. I’m miss SFlaRenaissance telling us about all the property s/he owns in all of the fabulous worldly locations and how SFLa is filled with all sorts of cheap, great real estate deals. It’s unfortunate that every American doesn’t have access to the lifestyle wealth affords.