11-02-2006, 02:30 PM
South Fla real estate has already corrected more than 20% and there's no end in sight. I'm aware of properties that were listed at the top, 12 months ago for mid 400's that are now mid-high 200's and no buyers.
We had reservations to come to Hawaii in Sept 2004, Unfortunately a couple weeks before that we had Hurricane Charley come in and blow thousands of houses away here in Port Charlotte/Punta Gorda and my Wife and I and the 2 cats were in the walk in closet when we got hit.
Needless to say we had to cancel our reservations to the BI. Properties here doubled in record time and I also noticed that properties on the BI didn't seem as motivating to me as they did when we planned on traveling.
I believe there's 300 Billion in ARM's resetting in 2006? Isn't there a TRILLION being reset in 2007? Methinks the real estate market has a ways to travel.......downward before it levels off.
My business runs almost parallel to the RE business and it's suddenly gotten slower for the majority of product. Big stuff ( six figure and up items ) are still moving along but we're hearing dealers using similar terminology as the real estate salespeople started using 8 or 9 months ago here when properties started their decent. Terms like " oh it's better now because it's more realistic ( LOL ) and similar.
Who knows, maybe we'll take a trip out yonder after all if Hawaii properties correct as significantly.
We had reservations to come to Hawaii in Sept 2004, Unfortunately a couple weeks before that we had Hurricane Charley come in and blow thousands of houses away here in Port Charlotte/Punta Gorda and my Wife and I and the 2 cats were in the walk in closet when we got hit.
Needless to say we had to cancel our reservations to the BI. Properties here doubled in record time and I also noticed that properties on the BI didn't seem as motivating to me as they did when we planned on traveling.
I believe there's 300 Billion in ARM's resetting in 2006? Isn't there a TRILLION being reset in 2007? Methinks the real estate market has a ways to travel.......downward before it levels off.
My business runs almost parallel to the RE business and it's suddenly gotten slower for the majority of product. Big stuff ( six figure and up items ) are still moving along but we're hearing dealers using similar terminology as the real estate salespeople started using 8 or 9 months ago here when properties started their decent. Terms like " oh it's better now because it's more realistic ( LOL ) and similar.
Who knows, maybe we'll take a trip out yonder after all if Hawaii properties correct as significantly.