By Mr. Solvent

May 15, 2008 8:52 AM | Link to this

We’re not even close to bottom yet. I always get attacked on these boards by bottom callers who’ve been calling bottom for 2 years now. Obviously they’re wrong.

If you can pick up a house at pre-2002 prices, you’ll be OK long term. If you’re buying for a short term investment, forget about it.

By John

May 15, 2008 9:12 AM | Link to this

Research shows that qualified buyers are falling off the charts, meaning there are less people able to afford the median home price in Palm Beach County than at any other time in history. That means prices are expected to continue to decline, and significantly. Look for 25% more in price depreciation in the next two years, followed by 3-5 years of stagnation before they start coming back up somewhat.

By John

May 15, 2008 9:14 AM | Link to this

Research shows that qualified buyers are falling off the charts, meaning there are less people able to afford the median home price in Palm Beach County than at any other time in history. That means prices are expected to continue to decline, and significantly. Look for 25% more in price depreciation in the next two years, followed by 3-5 years of stagnation before they start coming back up somewhat.

By UNDERCOVER HOUSING EXPERT

May 15, 2008 10:22 AM | Link to this

News Media INFLATES FORECLOSURE NUMBERS to scare away home buyers,according to a recent investigation by The Business and Media Institute, “Realty Trac Says Media Misrepresents Data” dated March 28, 2008. The news media TRIPLES foreclosure numbers ignoring REPEATED warnings from Realty Trac and the Mortgage Bankers Assn. Realty Trac provides statistics based on filings in EACH STEP IN THE FORECLOSURE PROCESS. There are typically three to four filings for every household in foreclosure YET the news media ignores this and MISREPRESENTS the gross number of filings as the TOTAL number of FORECLOSURES. In most case FORECLOSURES are INFLATED 300% by the NEWS MEDIA. The News Media also MISREPRESENTS the number of homes in foreclosure as a percentage of total homes instead of a percentage of homes WITH A MORTGAGE since 33% of homes nationwide and 42% of homes in Florida DON’T EVEN HAVE A MORTGAGE. The news media including JEFF OSTROWSKI and The PALM BEACH POST have DELIBERATELY MISLEAD READERS in order to scare away home buyers! The DRIVE BY MEDIA which includes The PALM BEACH POST have WAGED WAR against South Florida homeowners for the past four years in order to destroy the housing market. JEFF OSTROWSKI has been particularly deceptive by MASQUERADING foreclosure and distressed property consultants as impartial real estate experts to mislead the public with FABRICATED HOUSING HORROR STORIES like the frequently INFLATED FORECLOSURE STATISTICS The Palm Beach Post hypes EACH MONTH! Now you know that even REALTY TRAC says the news media LIES!! The NEWS MEDIA wants your property taxes to go UP and the value of your home to go DOWN!

By One Who Knows

May 15, 2008 11:02 AM | Link to this

To Undercover Housing Expert, You are so correct Sir! The media, this wanna-be real estate expert Ostrowski dude and all these corrupt mortgage brokers and realtors have killed the market with their false lies and their corrupt mortgage deals.

Just look at Ostrowski photo, he has the looks of the mental retard we knew in school years ago. The one who smelled really bad, hair never combed, was considered a special need student, always wetted his pants, had bread crumbs around his mouth, carried a Charlie Brown metal lunch box, and his only friend was the school janitor. Beware of guys like him, he might want to go to the top of a clock tower one day.

By Jay Finn

May 15, 2008 11:05 AM | Link to this

For you idiots, this is the truth!!

In March, 1,275 PBC county properties closed in the MLS system for PBC. In April 1,396 PBC properties closed. This represents an apx. 9% increase in the “number” of sales closed from March to April.

By steve

May 16, 2008 2:29 PM | Link to this

Instead of talking about a bottom..which is YRS away…talk about the impending Depression in South Fl and what people should do….Historic listings and a housing bust…South Fl revolves around RE..most base their incomes on it…they WILL NOT be truthfull..look at the crime(getting worse),foreclosures,short sales,empty storefronts,retail stores going out of biz,constant 50-70% off for clothing stores…all this talk of a bottom is B.S if you speak to people behind the scenes(housing consultants etc who are not paid shills)..they will tell you a nightmare..Housing starts need to go DOWN not up as that just puts more inventory on the mkt..but b/c builders have to build or they default(which most will do within 18 months)..it is killing the mkt…The median price has to drop 20% on avg just to get back to the norm..but they will drop farther than you think.It is unfortunate but telling the TRUTH will benefit most…Keep this in mind..considering that the builders and Realtors spend the most money on lobbying the government and the most money on advertising in the palm Beach Post..do you think you will get the truth…common sense..just look around your town and take a drive..it is ugly and getting worse….keep renting and watch more realtors get indicted