btwitche1975 0 #1 August 9, 2006 Has any Floridians noticed the eerie silence in the real estate market here? The unsold inventories in my area are at something like 1500% (no typo) of what they were 11 months ago and growing. Many of my friends are trying to sell their homes with some of them lowering their prices drastically (15-25 percent, for the ones who are rich and don’t care) only to hear the crickets chirping. I haven’t seen so many yard signs since the Bush-Kerry battle. /* This is my rig... There are many like it, but this one is mine. */ Quote Share this post Link to post Share on other sites
skymama 37 #2 August 9, 2006 It's like that all over the country, not just Florida although Florida homes are still selling more than the national average.She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
yamtx73 0 #3 August 9, 2006 The way prices had been going up around here it was due to happen... once the intrest rate starts dropping real estate will start selling again at ridiculously high prices...The only naturals in this sport shit thru feathers... Quote Share this post Link to post Share on other sites
btwitche1975 0 #4 August 10, 2006 I dunno. The property next to mine, owned by an investor in this waterfront community, has been on the rental market for months. Just last week a guy who mows lawns locally for 30 dollars a pop has moved in, paying rent via mowing & labor collateral. The property I live on has been owned by my family for 30 years, and nothing on the water here has gone for less than 250k in the last year. Something is amuck. The guy is out on his porch drinking Old Milwaukee as I speak, enjoying his waterfront view with a buzz. Cool Guy though, funny as shit /* This is my rig... There are many like it, but this one is mine. */ Quote Share this post Link to post Share on other sites
yamtx73 0 #5 August 10, 2006 I was looking at houses in Cape Coral... what used to be a $140,000 house now goes for double that... I don't know about you but I refuse to pay that kind of money for a small 3 br. 2 bath house...The only naturals in this sport shit thru feathers... Quote Share this post Link to post Share on other sites
marcandalysse 0 #6 August 10, 2006 nothing can compare with the home sales and prices last year! that was a feeding frenzy! older homes in my neighborhood sold for absurd prices. "The reason angels can fly is that they take themselves so lightly." --GK Chesterton Quote Share this post Link to post Share on other sites
The111 1 #7 August 10, 2006 QuoteThe way prices had been going up around here it was due to happen... once the intrest rate starts dropping market psychology completes its reversal real estate will start selling again at ridiculously high prices...reasonable prices. Fixed it for you. Quotewhat used to be a $140,000 house now goes for double that... I don't know about you but I refuse to pay that kind of money for a small 3 br. 2 bath house... There's the market psychology I referred to. Over the past 3 years everybody bought real estate whether they could afford it or not, many on the notion that "you are guaranteed a huge appreciation". This is one of the classic signs of a speculation frenzy, or bubble. Those who say real estate never depreciates need to examine the late 1920's (Great Depression anyone?) and the early 1970's. Many of those who participated in the feeding frenzy are now experiencing a drastic reversal in their emotions (which drive the market) during this period, the beginning of the decline. Greed and fear, the two major emotions that drive market cycles. I took your stance (refusal to pay) several years ago when I started looking for my first house. I've been saving and renting since then. By 2010 I will be ready to buy a house at 1990 prices (and I'll have almost enough savings to buy it 100% cash)... if it takes 5 more years after that I can wait, but it is already happening. I cannot predict the speed of the decline, but its onset is undeniable. Get ready to see all the HELOC purchased Hummers disappear from the streets too. I for one am looking forward to it.www.WingsuitPhotos.com Quote Share this post Link to post Share on other sites
TheAnvil 0 #8 August 10, 2006 You speak the truth, my wingsuited amigo. Vinny the Anvil Post Traumatic Didn't Make The Lakers Syndrome is REAL JACKASS POWER!!!!!! Quote Share this post Link to post Share on other sites
