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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (211917)	12/31/2002 5:59:27 AM
From: MoneyPenny	Read Replies (1) \| Respond to of 436258

"new, never lived in, luxury homes" in the 1,000,000-5,000,000 range"...in southwest Florida most of these homes have been built for investors to flip. The largest developer in our area, WCI, for the past year has built condos mainly as specs and has many in its towers group (high rise condos primarily in Naples) reduced for sale. I saw a realtor friend yesterday who had advised a client to remove his home from the market as there were too many for sale in his neighborhood, I asked her if she was worried, and she told me no, you never lose money in real estate. Another realtor that refers business to me hasn't sold a home since April since she mainly sells in the 2 million and up range. She had me look at a 3 million dollar house that had been bought to flip (for advice on color) in a small island where 8 of the 11 homes, most unfinished, were on the market. All eight had been bought on speculation to flip. The bubble is about to burst. Sharon