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JoeSpareBedroom

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On Wed, 30 Jan 2008 22:55:01 GMT, "JoeSpareBedroom"
wrote:

"Eisboch" wrote in message
om...

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On Wed, 30 Jan 2008 16:52:47 GMT, Short Wave Sportfishing
wrote:

Home prices are down 25-30% but government spending is still
gong up.

25/30%?

Maybe in some over inflated markets - not around here.

That is what the price of houses that actually sell reflects. (SW Fla)
Certainly people may be thinking their market is better than that but
what is the price of the houses that actually move?

I'd buy those numbers in certain parts of Florida. For several years
the
market value of some homes were going up by 15-20 percent/year. It all
came to a screeching halt in 2003-2004.

Eisboch

I always like to ask the question "Why should prices go up by those
percentages?" In many cases, there's no sane reason. Here, there were a
couple of neighborhoods where that happened. The excuse was that the
schools
were so much better. Later, people who moved to those places said that the
only thing "better" were the drugs the kids could get, and the cars their
parents bought them. Quite a few people have moved back to the place they
thought they wanted to get away from: The city.

There was a gold rush mentality in Florida. People were paying
outragous prices for houses right up into the summer of 2006. That was
really when it crashed. The first round of defaults on contracts, not
buying a house they had a down payment on was really not until the
fall of 2006. The buillders were still able to pocket the $50,000
deposit and sell them that much cheaper. Around thanksgiving was when
they weren't moving either. My wife (builder) was laid off in March
2007. The prices were in free fall until they levelled off about 30%
below the summer 2006 price. (pre-construction prices)

This is the house around the corner from me

http://www.leepa.org/Scripts/Propert...lioID=10274192

price date
455,000 12/22/2004
295,000 3/15/2002
195,000 9/1/1994
133,000 8/1/1990

That's insane.