Eisboch wrote:

"HK" wrote in message
...
Apparently the south west coast of Florida is "foreclosure central,"
with a higher percentaqe of home foreclosures than anywhere, coupled
with an unemployment rate above 10%.

I wonder how long it'll be before those "waterfront" homes are going
for 20 cents on the dollar?

Doubtful. Their value is down and speculators are grabbing them up.

Eisboch

There aren't a lot of waterfront homes in SW FL unless you include those
with canal/river access.

wrote:
On Wed, 11 Feb 2009 20:42:22 -0500, Gene
wrote:

That area of FL is heavily populated by snowbirds from the upper
Midwest.... the people that have been hammered the worst in this
economy.

5 years ago that was true. Everyone came down I-75 but in the last
boom people figured out how to get across from I-95 without getting
arrested in Waldo and we are seeing a lot of east coast tags now.


Ahhh, Waldo...speed trap center of America. We used to shoot across from
St. Augustine to Green Cove Springs to Starke and then creep south
through Waldo on the way to Gainesville, where seeeester-in-law went to
college. I recall Waldo also had a bunch of crummy antique shops and a
huge outdoor market. Not much else.

On Wed, 11 Feb 2009 21:48:14 -0500, wrote:

On Wed, 11 Feb 2009 20:42:22 -0500, Gene
wrote:

That area of FL is heavily populated by snowbirds from the upper
Midwest.... the people that have been hammered the worst in this
economy.

5 years ago that was true. Everyone came down I-75 but in the last
boom people figured out how to get across from I-95 without getting
arrested in Waldo and we are seeing a lot of east coast tags now.

Heh. Not me, I divorced NY just as soon as possible and got real
"Sunshine State" tags.

HK wrote:
Apparently the south west coast of Florida is "foreclosure central,"
with a higher percentaqe of home foreclosures than anywhere, coupled
with an unemployment rate above 10%.

I wonder how long it'll be before those "waterfront" homes are going for
20 cents on the dollar?

It is a buying opportunity.