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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: MSI who wrote (6679)	11/12/2002 9:26:41 AM
From: SouthFloridaGuy	Read Replies (1) \| Respond to of 306849

Long Island Home Update: Inventory building up rapdily in my two favorite (but unafforadble) areas like Great Neck and Syosset. Two weeks ago I posted I saw a marked increase in homes for sale - at that time Great Neck had 91 homes available (the most I had seen in the area since 4/01). The following week I said it had increased to 95. Well, this week we hit 100. That's no joke, IMO, because since I started watching in April of 2001, that figure never surpassed 84 homes and fluctated between 74 and 84 consistently. Syosset moved to 59 homes available. The average over the last year and a half has been 45. No big changes in middle class areas...yet.

To: MSI who wrote (6679)	11/12/2002 11:22:00 AM
From: MulhollandDrive	Respond to of 306849

we had that happen about a month ago.. a small versa lok retaining wall was built on a corner of our home(less than $3k in labor and materials)....found a notice on our front door that we were being re-assessed. they are obviously farming permit files.

To: MSI who wrote (6679)	11/12/2002 1:05:35 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

RE:"The concern is that it will go up faster than property values. It'll have to if they're to maintain revenue levels, especially if values plateau or decline." Since they spend based on FUTURE projected tax revenues...you sadly will be correct. The FED, Congress included is all over the place of taxation. Very fragmented. The tax system needs a revamp not a smattering of tax cuts like we have had. Not likely Congress will NOT get it until deficits go through the roof. Jim