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To: Jim McMannis who wrote (168162)	7/14/2002 1:37:13 AM
From: L. Adam Latham	Read Replies (1) \| Respond to of 186894

Jim: I have to agree with John here - you can't generalize your experiences in Florida to the entire country. In the Midwest, commissions are indeed 6%-7%, and FSBO sales are rare (several FSBO companies have come and gone in the past few years here). Few houses sell in a day or two, though 10-30 day sales are becoming more common. IMO, a seller has underpriced his property if it sells in a day. 10% or more annual home price appreciation is not a nationwide phenomenon - it's in the places such as Elmer described (and your neighborhood I guess). In fact, there was a huge outcry by a few homeowners in my county who received real estate assessments that had gone up about 15% since last year. Turns out the assessors were using a "drive-by" method that was against local law, and the boss ended up resigning (and the people's assessments were reduced). Adam

To: Jim McMannis who wrote (168162)	7/14/2002 9:36:29 AM
From: Road Walker	Read Replies (1) \| Respond to of 186894

Jim, re: You are way out of touch. There has been a big jump nationwide across the country. Sure some exceptions but it's become more the rule. Well, I'm slightly out of touch. Nationally, as of the first quarter, annual home price appreciation was 6.05%. Of the states, Florida was 8th, with 8.29%. The folks that live in Texas probably think you are nuts, they were close to last at 2.95%. An interesting report, with 5 year appreciation, and since 1980: ofheo.gov You have to admit that the transactional and holding costs for real estate are a significant detriment to a house trader, someone who "flips" every year. In Florida, water front land has appreciated at a phenomenal rate (why I didn't buy on the water when I arrived 10 years ago, I don't know). You could have probably "fliped" those houses every year, and done very well. But a buy and hold strategy would have been better, cutting the transaction costs. Maybe if you took your profit on each yearly transaction and put it into a more expensive house, that might have yielded a better return, but I doubt it. Actually, I've been looking to multi-family housing as an investment. Nothing big, three or four apartments. So what do you do in the real estate industry? John