Housing Bubble Popped but why aren't the prices reflecting it? (Orlando: mortgage, loans)

[nychiefsfan]

Worst May Be Over in National Housing Market Slowdown

The tide is turning and the worst may be over in the national housing market slowdown, according to the latest assessment by Housing Predictor. The real estate slowdown experienced in the majority of the U.S. is signaling a change.

Overall 56% of the nation's housing markets are appreciating or have stabilized, according to the study. Ten states are experiencing markets that are stabilizing.

Housing Market Slowdown May Be Over

NOTE: After doing a little research, I found out the following:
Housing Predictor is a website started by Florida internet developer Mike Colpitts. The site partners with Home Gain, a national real estate listing service, and Foreclosure.com another listing service with an emphasis on foreclosed properties, to provide real estate listings and housing market forecasts.

Housing Bubble and Real Estate Market Tracker - Seeking Alpha

[kelly3120]

these "reports"(stats) are like checking the weather forecast or movie credicts
..most of the time they prove to be incorrect.

ok I'm so hungry I could eat an elephant.
c-ya

[hiknapster]

I have never seen so much positive spin on an incredibly bad situation.

It's next to impossible to get real stats. The media is relying on the spin people to get their info. It wasn't until I saw the media report from the condos being sold at half price in Fort Myers that I really understood how bad things are.

[Audacious]

Originally Posted by hiknapster

I have never seen so much positive spin on an incredibly bad situation.

It's next to impossible to get real stats. The media is relying on the spin people to get their info. It wasn't until I saw the media report from the condos being sold at half price in Fort Myers that I really understood how bad things are.

It would appear that condos are the whippping boy of this bubble

[nychiefsfan]

Thomas Lawler, former Fannie Mae economist and current president of Lawler Economic & Housing Consulting in Vienna, Va., stated the following in his private newsletter:

"A growing number of Realtors in Florida are frustrated with the state and national Realtors groups' efforts to 'spin' the market as one that is strengthening and where home prices are stabilizing.

"Many (though probably not yet most) Realtors are frustrated by customers who continue to list their homes at price levels that are 'unrealistic,' and as a result, sales volumes - and thus commissions - continue to remain depressed.

"While Realtors have noted to customers that many home builders in Florida have slashed new-home prices in order to move bloated inventories, many home sellers are still holding off, hoping - along with FAR and NAR - that prices will start moving back up soon."

The Big Picture | Quote of the day: Realtors Get Real

[hiknapster]

That's it. It's the sellers.

I can imagine that realistic real estate agents are very frustrated. They have to deal with sellers who saw their neighbors sell in 2005 and, in the spirit of Florida, want to keep up with the Joneses. They cannot be outdone!

OR they bought when the market is high and they want out, but not before losing their shirt and everything else.

I think being a real estate agent in Florida, right now, is a very thankless job.

On the other hand, they made a killing for about five years, didn't they? I hope they didn't take out a home equity loan, too.

[kelly3120]

ohhh blah! ....we are nice to our realtor.
We always ask her opinion and even had a brokers open and asked for feedback on our price from realtors that showed up! We don't beat her up!


AGAIN I SAY ...buy the cheaper homes if the other homes are to much for your pocket. BUT realize you get what you pay for regardless what you think this market is doing.

Gas and milk and expensive too!!!

night

[nychiefsfan]

Originally Posted by kelly3120

I'm so hungry I could eat an elephant.

You'd need a big gas grill for that

Originally Posted by kelly3120

ohhh blah! ....we are nice to our realtor.
We always ask her opinion and even had a brokers open and asked for feedback on our price from realtors that showed up! We don't beat her up!


AGAIN I SAY ...buy the cheaper homes if the other homes are to much for your pocket. BUT realize you get what you pay for regardless what you think this market is doing.

Gas and milk are expensive too!!!

night

That sucks, cuz I love milk!!!

INRE to the RE market: it is what it is, and that's something different to everyone. My wife and I are considered upper middle class, but I can't just plop down a quarter mil for a house when that money can go toward my daughter's education, retirement, etc.

Nite, kiddo

[kelly3120]

..I wonder how elephant taste? ...and you would need a big grill! ...like pool size ...I think that should be requirement in home buying.

"awh, yes, we love the house, but where is the grill to cook the Elephant?"
HA!

nychiefsfan ...hope you find a house and glad you can have fun w/ me on the forum. I can't say I have kids! =) We decided to buy the second home before kids.
I'm expensive as it is!

[ddlove01]

Just saw this article...4000 more homes are going to be built in Port St. Lucie

4,000 homes to be built in Port St. Lucie (broken link)

This area doesn't need this, we are already overcrowded as it is!