Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: John Vosilla who wrote (60599)	8/24/2006 6:26:39 AM
From: MoneyPenny	Read Replies (1) \| Respond to of 306849

Month by month reports can skew real information wildly. The price drop in Indian River reflects the absence of a high rise or higher end villa project closing in July. What this information shows me is that the lower priced older condos were the ones moving in Indian River. Look at Florida/ Lee County FLORIDA CONDO SALES July 2006: 4,260 (-37 percent) July 2005: 6,739 MEDIAN PRICE July 2006: $210,200 (-1 percent) July 2005: $211,900 LEE COUNTY CONDO SALES July 2006: 179 (-50 percent) July 2005: 356 MEDIAN PRICE July 2006: $346,300 (35 percent) July 2005: $256,700 COLLIER COUNTY CONDO SALES July 2006: 169 (-62 percent) July 2005: 450 MEDIAN PRICE July 2006: $352,400 (1 percent) July 2005: $350,500 In these areas, a project closing can skew the results in any of them. I fully expect "values" to go up this fall when a number of towers in Bonita/Estero close. Then those numbers can be used to try and make a case that values are not falling that much. One of the WCI towers is 100% sold and will close fairly soon. 120 units closing simultaneously at upwards of 900k each can make it difficult to judge the market. One of my projects closes in November. 105 units closing in Fort Myers at upwards of $600k each will make the November numbers look good. The fact that many are listed for sale over 1M will not show. MP