'Naples - Most Overvalued Housing Market in Nation'
 

"Harry Krause" wrote in message
. ..


`Bubble City': Workers Flee Naples, Florida's High Home Prices


Some parts of Florida that experienced phenomenal growth in housing values
during the past several years have already crashed. When we owned property
in Jupiter, housing values had been rising by over 20% per year for about 4
years. We owned a house for 3 years and sold it last year for 78% more than
we bought it for. We were the last sale in the area we were in .... since
then no houses have sold despite reductions in the asking price. My brother
still owns a modest house in a nearby area that he bought as an investment.
It's been on the market now for almost a year and they have had one showing
with a resulting offer that fell through due to the buyer's bad credit. He
has been lowering the price and will soon be at an overall break-even point.

Eisboch