[firemed]

The latest numbers released by the Florida Association of Realtors found the median home price for October at $277,900, down 18 percent from the $340,700 median in 2005. What is your area doing ?

[tallrick]

My area is still going up, no reductions in sight yet. The same thing where my parents live, homes are selling over 400,000 now up from last year.

[Muggy]

Originally Posted by firemed

The latest numbers released by the Florida Association of Realtors found the median home price for October at $277,900, down 18 percent from the $340,700 median in 2005. What is your area doing ?

Seriously? Wow.

I bet one of my "real estate only goes up" relatives a few months ago statewide median would drop 25% by 2010. So far the release says it's stagnant statewide. Ft. Myers / Cape Coral... dusted at -44%

http://media.living.net/releases/Oct...x%20Chart.html

Reversion to the mean: like gravity to a baseball. Did you guys see the news release about Google's number one "How to" query for 2006?

Yup, "How to refinance."

[firemed]

Originally Posted by Muggy

Seriously? Wow.

I bet one of my "real estate only goes up" relatives a few months ago statewide median would drop 25% by 2010. So far the release says it's stagnant statewide. Ft. Myers / Cape Coral... dusted at -44%

http://media.living.net/releases/Oct...x%20Chart.html

Reversion to the mean: like gravity to a baseball. Did you guys see the news release about Google's number one "How to" query for 2006?

Yup, "How to refinance."

How to refinance when your down 44% ? I want to find that site.

[macguy]

Originally Posted by firemed

The latest numbers released by the Florida Association of Realtors found the median home price for October at $277,900, down 18 percent from the $340,700 median in 2005. What is your area doing ?

18% from what, the highest? In 2000 the price in Miami was around $120,000. That makes today's prices up more then 100% even after any adjusting. It goes up it goes down but never back to where it was and reestablishes a new average. The game isn't played in one quarter. Anyone who has owned their home for even a few years isn't hurting. Anyone trying to get in now will have to pay a little more, that is just the way it works.

[Shores9]

Originally Posted by firemed

The latest numbers released by the Florida Association of Realtors found the median home price for October at $277,900, down 18 percent from the $340,700 median in 2005. What is your area doing ?

First although this is the most current data it is old news as this release was dated November 28, 2006 – the next one is due 12-28-06

For the sake of getting the facts correct Could you please explain where you are getting Florida Home price down 18% this year and could you please post a link to your info.

Here is a link to the Florida Association of Realtors “Florida Sales report – October 2006 Single Family Existing Homes

http://media.living.net/statistics/2...Ex%20Chart.pdf

Statewide the median price for the MONTH of October 2006 was 243,400 and in October 2005 it was 242,500 statistically unchanged.

Further the statewide Y-T-D average for 2006 was 249,400 vs 233,000 for 2005 about 1% higher than the best year in history.

[Need_affordable_home]

House prices have dropped about 20% from the peak here in West Palm Beach. They arent selling close to asking prices, sellers reducing prices, buyers negotiating a big chunk off. People still cant afford em!

[Dee2e]

Originally Posted by macguy

18% from what, the highest? In 2000 the price in Miami was around $120,000. That makes today's prices up more then 100% even after any adjusting. It goes up it goes down but never back to where it was and reestablishes a new average. The game isn't played in one quarter. Anyone who has owned their home for even a few years isn't hurting. Anyone trying to get in now will have to pay a little more, that is just the way it works.

What could you buy in Miami for that price in 2000? When I lived in South Florida in the 80s I couldn't find anything that low!

[Floridamex]

Originally Posted by Shores9

First although this is the most current data it is old news as this release was dated November 28, 2006 – the next one is due 12-28-06

For the sake of getting the facts correct Could you please explain where you are getting Florida Home price down 18% this year and could you please post a link to your info.

Here is a link to the Florida Association of Realtors “Florida Sales report – October 2006 Single Family Existing Homes

http://media.living.net/statistics/2...Ex%20Chart.pdf

Statewide the median price for the MONTH of October 2006 was 243,400 and in October 2005 it was 242,500 statistically unchanged.

Further the statewide Y-T-D average for 2006 was 249,400 vs 233,000 for 2005 about 1% higher than the best year in history.

I was reading that also http://www.bradenton.com/mld/bradent...s/16285386.htm

[Shores9]

Originally Posted by Floridamex

I was reading that also http://www.bradenton.com/mld/bradent...s/16285386.htm

Interesting???

So basically stories like this are saying that a shack 4 yrs ago was worth 75k and in the height of the market it was worth 400K now its dropped 18% and maybe it will drop another 10%

Its one of about 20 MSA’s in the state that are experiencing price changes from +15% to -44%.

But of course the headline states “ Housing market set for fall” and does little to make a clear that the numbers used by the NAR were specific to Bradenton and Sarasota

Further the article uses a mix of sources to craft an image - it all makes for interesting headlines!

In fairness the article does quote Local realtors but who trusts them???