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Zayne E. · 05-30-2007, 05:47 AM

I posted this before, I think.

The market in SW Florida is insane. Prices rise due to supply and demand and there is still no shortage of places to build down here. As quickly as swampland dries up, they build and there's no shortage of swampland drying up.

Here's a personal example of how the market down here simply makes no sense...at the end of 2003 I was lease-optioning a home where I could have gotten the home for $210k. When I returned to Florida after a stint in Charlotte followed by 18 months in Houston, that same exact house -- the very one -- was on the market for $690k -- in just 27 months. Explain that one to me when there are literally thousands of vacant lots under construction for the low to mid 200's.

When the market began to tank throughout last year the same neighborhood...2 identical houses...one was on the market for $489k and the other for $390k with absolutely no discernable differences between the houses...same street...same exact model with no differences in upgrades. Essentially the SAME HOUSE.

Present example...I am leasing a condo now that I know the owner had built for $220k-ish just last year. Yet, it was on the market before I leased it for $589k

Now the same unit is available from between $249k and $359k.

Sellers are in la-la land over what their homes are really worth and NOTHING is selling right now. I would say 80% of the units here have for sale signs in front of them and everyone is speculating on a killing and really don't seem to be interested in actually selling.

05-30-2007, 05:47 AM
Zayne E. Confirmed User Industry Role: Join Date: Apr 2002 Posts: 1,383	I posted this before, I think. The market in SW Florida is insane. Prices rise due to supply and demand and there is still no shortage of places to build down here. As quickly as swampland dries up, they build and there's no shortage of swampland drying up. Here's a personal example of how the market down here simply makes no sense...at the end of 2003 I was lease-optioning a home where I could have gotten the home for $210k. When I returned to Florida after a stint in Charlotte followed by 18 months in Houston, that same exact house -- the very one -- was on the market for $690k -- in just 27 months. Explain that one to me when there are literally thousands of vacant lots under construction for the low to mid 200's. When the market began to tank throughout last year the same neighborhood...2 identical houses...one was on the market for $489k and the other for $390k with absolutely no discernable differences between the houses...same street...same exact model with no differences in upgrades. Essentially the SAME HOUSE. Present example...I am leasing a condo now that I know the owner had built for $220k-ish just last year. Yet, it was on the market before I leased it for $589k Now the same unit is available from between $249k and $359k. Sellers are in la-la land over what their homes are really worth and NOTHING is selling right now. I would say 80% of the units here have for sale signs in front of them and everyone is speculating on a killing and really don't seem to be interested in actually selling.