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Old 01-19-2007, 11:07 PM
 
Location: Central FL
1,683 posts, read 8,211,667 times
Reputation: 853

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CNN Money Magazine listed Southwest Florida - Fort Myers, Naples, Punta Gorda, and Sarasota as No. 2 in places NOT to buy in the next year. The reason: A typical home goes for $500,000, and prices rose 25 percent last year. A local economy with a thin base - retirees - can't sustain the heat.

The remainder of the 15 areas were Washington, DC, the Jersey Shore, and cities in California, Nevada and Arizona.
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Old 01-19-2007, 11:43 PM
 
Location: Florida
2,209 posts, read 7,656,129 times
Reputation: 638
Yeah, we just can't wait to list our house in Port Charlotte
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Old 01-20-2007, 12:02 AM
 
Location: Central FL
1,683 posts, read 8,211,667 times
Reputation: 853
Quote:
Originally Posted by MrTudo View Post
Yeah, we just can't wait to list our house in Port Charlotte
Oops!! Hopefully your home will be the exception!
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Old 01-20-2007, 12:06 AM
 
Location: Florida
2,209 posts, read 7,656,129 times
Reputation: 638
....Thank you.....
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Old 01-20-2007, 12:38 PM
 
41 posts, read 144,466 times
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Quote:
Originally Posted by pianogal View Post
CNN Money Magazine listed Southwest Florida - Fort Myers, Naples, Punta Gorda, and Sarasota as No. 2 in places NOT to buy in the next year. The reason: A typical home goes for $500,000, and prices rose 25 percent last year. A local economy with a thin base - retirees - can't sustain the heat.

The remainder of the 15 areas were Washington, DC, the Jersey Shore, and cities in California, Nevada and Arizona.

I don't know where CNN Money gets their figures but the median house price in Sarasota is nowhere near 500k. That's close to twice the actual median home price.
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Old 01-20-2007, 07:32 PM
 
Location: Central FL
1,683 posts, read 8,211,667 times
Reputation: 853
Quote:
Originally Posted by jamesdsimpson View Post
I don't know where CNN Money gets their figures but the median house price in Sarasota is nowhere near 500k. That's close to twice the actual median home price.
Yeah, I thought that was high as well...perhaps they were basing it on Naples...but even Naples shouldn't be that high!
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