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Old 01-20-2007, 07:57 AM
 
2,141 posts, read 6,351,983 times
Reputation: 588

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The Naples News. “The Naples Area Board of Realtors no longer will provide monthly home sales numbers to the statewide association that calls itself the voice for real estate in Florida. The local real estate board says it doesn’t think the way the Florida Association of Realtors reports the numbers is relevant and that it can do a better job with its own reports, and better reflect what’s going on in the local market.”

“This comes as the state association’s numbers have shown sharp drops in home sales and median home prices during the past year in the Naples area.”

“The numbers aren’t truly reflective of what’s going on in Naples because they include sales made outside the Naples market, in such areas as Cape Coral and Lehigh Acres, said Joe Ballarino, president and chief executive of Amerivest Realty in Naples. Some Naples members’ sales even extend beyond Lee County to Charlotte County. ‘They are accurate numbers,’ Ballarino said. ‘They are just not relevant numbers and that is an important distinction.’”

“Currently, there are 11,000 listings in the Naples area. That’s an 18-month supply. ‘Buyers have a lot more choices available to them this season,’ said Spencer Haynes, NABOR’s president. ‘Now is a good time to buy,’ Ballarino said. ‘But the buyer confidence is not there.’”
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Old 01-20-2007, 08:01 AM
 
Location: Springfield, Missouri
2,814 posts, read 12,081,772 times
Reputation: 2000001303
The real estate market is crashing. And like the Feds who stopped printing a public accouning of money supply through M3 reporting, the real estate industry is cutting off information showing that they are crashing.
They fool no one.
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Old 01-20-2007, 08:07 AM
 
2,141 posts, read 6,351,983 times
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The News Press reports from Florida. “Property owners hoping for a quick profit left disappointed Friday as bids were low during the first day of a land and home auction in Fort Myers, where 68 residential and commercial lots were on the block.”

“Ariel Crespo put two lots in the auction. He had both listed on the MLS for more than $60,000. The bids came in at $22,500 for each. Both lots were off water in northwest Cape Coral. ‘I just won’t take a bid that low,’ said Crespo. ‘That’s just way too low.’”

“‘I’d say they will be lucky to get 10 percent of the sellers to accept bids,’ said Cape Coral resident Jim O’Day. ‘I wanted at least $145,000 minimum.’”

“Two other lots, desirable because of their size at 11,934 square feet, and waterfront location on the Caloosahatchee River, drew bids at half of their $799,900 listing price.”

“Despite the low bids at Friday’s lot auction, Cape Coral’s Ginnie and David Ward remain optimistic about the sale of their home in the auction today. Their three-bedroom, waterfront home in Cape Coral with deep-water canal and easy access by boat to the Gulf of Mexico lists on the Lee County Property Appraiser Web site at $862,410.”

“‘The auction today (Friday) was full of speculators,’ Ginnie Ward said. ‘The auction Saturday will have more end users, people who want a great home. That’s a big difference.’”

now is a good time to buy???????????? I believe some (Realtors) are looking for day jobs.

Last edited by firemed; 01-20-2007 at 09:24 AM..
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Old 01-20-2007, 08:21 AM
 
944 posts, read 3,539,066 times
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Quote:
Originally Posted by firemed View Post
The local real estate board says it doesn’t think the way the Florida Association of Realtors reports the numbers is relevant and that it can do a better job with its own reports, and better reflect what’s going on in the local market.”
Yeah you know, because it's different in Naples!
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Old 01-20-2007, 08:26 AM
 
12 posts, read 72,017 times
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in my neighborhood there are so many homes that are for sale or for rent. some people have given up and took their home off the market and others have done a bridge loan thinking their house will sell and but instead sit empty for months and months.
i would love to move to GA, TN OR SC but i doubt we could sell our home due to the sea of inventory out there...
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Old 01-20-2007, 08:38 AM
 
2,141 posts, read 6,351,983 times
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Quote:
Originally Posted by ryyans View Post
in my neighborhood there are so many homes that are for sale or for rent. some people have given up and took their home off the market and others have done a bridge loan thinking their house will sell and but instead sit empty for months and months.
i would love to move to GA, TN OR SC but i doubt we could sell our home due to the sea of inventory out there...
I can't get over all the homes for sale. when you add in FSBO, not C/O yet and ATS we have over a three year supply. All the boomers need to move to florida. not just the ones with deep pockets.
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Old 01-20-2007, 09:41 AM
 
944 posts, read 3,539,066 times
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Moderator cut: orphaned
I've been feeling a little guilty lately; I'm getting exactly what I wished for. Unfortunately many of my friends and family are getting exactly what they feared.
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Old 01-20-2007, 09:53 AM
 
12 posts, read 72,017 times
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the neighbors across the street who have lived there less then 2 years have just taken a HELOC out and bought a boat
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Old 01-21-2007, 04:39 PM
 
1,868 posts, read 5,233,044 times
Reputation: 525
Quote:
Originally Posted by MoMark View Post
The real estate market is crashing. And like the Feds who stopped printing a public accouning of money supply through M3 reporting, the real estate industry is cutting off information showing that they are crashing.
They fool no one.
I hadn't looked lately...is M3 not published anymore?? I thought I heard something about that. Explain to me Momark!!
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Old 01-21-2007, 08:22 PM
 
Location: South Carolina
5,298 posts, read 5,776,910 times
Reputation: 8141
Quote:
Now is a good time to buy,’ Ballarino said.
Ballarino kills me,I've read the naples news online for about 3 years now and he is always crowing that now is the time to buy.
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