Housing Bubble Popped but why aren't the prices reflecting it? (Iona: real estate, rent)

[SKB]

This thread has been read 8204 times now. It is mind boggling to think how many people actually read this thread and do not have anything to say.

Speak up people!! We would like to see more opinions on this discussion.

Throw your hat into the ring, are you a bubblesitter or a househead?

[kelly3120]

skb
you are my favorite bubblesitter!!

...bubblesitter or househead! That's just awesome! I think everyone should rate your comment positive!!!!


So now I gotta ask because I'm a funny person I guess.
If I don't give hard evidence am I band from the party??? I don't wanna use STATS because I think they are as phony as the news. I'll try and find some of the stuff I've read for you.... give me some time as we are now officially in the middle of a move ...as of RIGHT NOW(tomorrow morning)

Alright I'm out for a while!
We MOVE into our new home so computers are going off soon.
It's been fun!

[SKB]

Originally Posted by kelly3120

skb
you are my favorite bubblesitter!!

...bubblesitter or househead! That's just awesome! I think everyone should rate your comment positive!!!!


So now I gotta ask because I'm a funny person I guess.
If I don't give hard evidence am I band from the party??? I don't wanna use STATS because I think they are as phony as the news. I'll try and find some of the stuff I've read for you.... give me some time as we are now officially in the middle of a move ...as of RIGHT NOW(tomorrow morning)

Alright I'm out for a while!
We MOVE into our new home so computers are going off soon.
It's been fun!

Hey Kelly, thanks Hon,

Have fun tomorrow and don't work to hard, savor the moment and take some pictures of the new house for me.

Don't worry about the stats, you have your convictions and you feel right about them, you have nothing you need to prove when you just feel the way you do.
I wish you all the best with selling your house which is the cutest house on the street!!!
You know my stand on this issue, I have been extremely vocal and some I have offended, certainly not my intentions.
This is just way to passionate of a topic for many, almost like talking about politics or religion at this point.

Enjoy your day tomorrow and keep those Birds for me, they will look great in my backyard, when ever I get one.

SKB

[ddlove01]

Kelly, all your posts have been very entertaining to read. Good luck on your move and take it easy.

Originally Posted by kelly3120

skb
you are my favorite bubblesitter!!

...bubblesitter or househead! That's just awesome! I think everyone should rate your comment positive!!!!


So now I gotta ask because I'm a funny person I guess.
If I don't give hard evidence am I band from the party??? I don't wanna use STATS because I think they are as phony as the news. I'll try and find some of the stuff I've read for you.... give me some time as we are now officially in the middle of a move ...as of RIGHT NOW(tomorrow morning)

Alright I'm out for a while!
We MOVE into our new home so computers are going off soon.
It's been fun!

[Bones]

Originally Posted by SKB

This thread has been read 8204 times now. It is mind boggling to think how many people actually read this thread and do not have anything to say.

Speak up people!! We would like to see more opinions on this discussion.

Throw your hat into the ring, are you a bubblesitter or a househead?

Some people post stats and others stick their head in the sand and do not see the reality......
Some people bought houses a couple years ago and lost or transferred jobs (not their fault) but are in trouble now.
Schools will be closed down because of lower enrollment, will that mean higher taxes ?

X-Floridian...

[Hondax]

Hope your move goes well Kelly.

....time for bed....

[Audacious]

Originally Posted by SKB

This thread has been read 8204 times now. It is mind boggling to think how many people actually read this thread and do not have anything to say.

Speak up people!! We would like to see more opinions on this discussion.

Throw your hat into the ring, are you a bubblesitter or a househead?

I think the people are reading/watching this thread very intensely to try to get a "feel" as to what RE is really doing. As I am sure with others, I get alot of PM's asking very pointed questions about this market area. Perhaps they are afriad of being attacked if their opinion does not agree with others. As the market will sort things out, so will all the folks reading this. In the meantime we should keep posting and continue this debate.

But you are right, c'mon folks. JUMP IN !

[JimKing]

“Jan Hatzius, Senior economist, Goldman, Sachs & Co, believes Florida’s record home price appreciation since 2000 now makes the state ‘the epicenter of the U.S. housing bust.’ His take: Homes prices will decline deeply for a couple of years.”

“Hatzius: ‘Forty percent is the current level of overvalue in Florida. I would guess the area will have 10 percent or 15 percent price declines for a couple of years. Beyond that, my crystal ball doesn’t go.’”

“You’re not going to believe what some brand new townhomes went for on the auction block Thursday night in Fort Myers, considering where prices have been. A three bedroom townhome previously priced at $310,000 sold for about $180,000!”

“Greg Toher was outraged when he heard the prices some of the homes were going for. Walking out of the auction room, he told us, ‘$145,000! Unbelievable! We paid $300,000! They just got rid of at least four for $145,000!’”

“He says he closed on his three bedroom San Simeon townhome in December, ‘You’ve got to be kidding me, that’s not fair.’”

“Tara Gionpalo said, ‘I feel really mad, really sad, hurt.’ Victoria Toher said the developer went back on their word, ‘They promised us they were not going to go below market value.’”

[JimKing]

“Cape Coral contractor R. Fry Builders has started partially dismantling houses where the customers are balking at closing the deal, removing doors, windows, air conditioners and other items.”

“Fry officials said they’re responding to an increasingly common phenomenon caused by plunging real-estate values that have left buyers unwilling or unable to close the deal because the mortgage would be more than the house is worth.”

“‘It’s industry-wide and every builder has gone through it,’ R. Fry operations manager Charlie O’Key said. ‘We’re building them and they’re leaving us holding the bag. We’ve laid out our money, but we’re not being paid.’”

“Michael Reitmann, executive vice president of the Lee Building Industry Association, said he has only recently heard of local builders taking similar action. ‘Within the last three weeks I’ve heard of three different instances.’”

“Before that, he said, ‘It may have happened but never in the 20 years I’ve been here.’”

[kort677]

Originally Posted by JimKing

“Jan Hatzius, Senior economist, Goldman, Sachs & Co, believes Florida’s record home price appreciation since 2000 now makes the state ‘the epicenter of the U.S. housing bust.’ His take: Homes prices will decline deeply for a couple of years.”

“Hatzius: ‘Forty percent is the current level of overvalue in Florida. I would guess the area will have 10 percent or 15 percent price declines for a couple of years. Beyond that, my crystal ball doesn’t go.’”

“You’re not going to believe what some brand new townhomes went for on the auction block Thursday night in Fort Myers, considering where prices have been. A three bedroom townhome previously priced at $310,000 sold for about $180,000!”

“Greg Toher was outraged when he heard the prices some of the homes were going for. Walking out of the auction room, he told us, ‘$145,000! Unbelievable! We paid $300,000! They just got rid of at least four for $145,000!’”

“He says he closed on his three bedroom San Simeon townhome in December, ‘You’ve got to be kidding me, that’s not fair.’”

“Tara Gionpalo said, ‘I feel really mad, really sad, hurt.’ Victoria Toher said the developer went back on their word, ‘They promised us they were not going to go below market value.’”

moral to the story:
get any promises from a RE agent or developer in writing before accepting it as the truth