Download the image: http://www.postyourimage.com/view_image.php?img_id=aV5ug4dTycqEtqc1205431403
Thursday, March 13, 2008
Wednesday, March 12, 2008
Carpa's Projecting Shiller’s Graph vs Sunny Isles condo
Data from http://www.trulia.com/ for 1-bedroom oceanfront condo in Sunny Isles Beach, FL placed on Projecting Shiller’s Graph.
DOWNLOAD BIG IMAGES:
http://img72.imageshack.us/my.php?image=1bedsunnyisles5qt0.jpg
http://img176.imageshack.us/my.php?image=1bedsunnyisles4acm4.jpg
http://img176.imageshack.us/my.php?image=1bedsunnyisles1avs7.jpg
DOWNLOAD BIG IMAGES:
http://img72.imageshack.us/my.php?image=1bedsunnyisles5qt0.jpg
http://img176.imageshack.us/my.php?image=1bedsunnyisles4acm4.jpg
http://img176.imageshack.us/my.php?image=1bedsunnyisles1avs7.jpg
Miami & Miami Beach Condo Trends
by Realtor Lucas Lechuga, P.A.
Miami & Miami Beach Condo Trends - February 2008
February 26th, 2008
...Since the January 2008 update, the overall condo supply in Miami-Dade County has increased about 10.3 percent.
http://www.miamicondoinvestments.com/2008/02/26/miami-miami-beach-condo-trends-february-2008/#comment-3299
Miami & Miami Beach Condo Trends - January 2008
January 20th, 2008
...In November, the existing condo inventory represented 4.04 years of supply. Now, just two months later, we’re sitting on 6.01 years of condo supply. This represents approximately a whopping 49 percent increase! This is mainly attributed to a large drop-off in closed sales in the previous month.
Comments:
...don’t tell me about the euros and the canadians coming to the rescue (even if their currency is strong a smart purchaser looks at price in absolute, and not relative, terms).
...Until prices come down to 2001-2003 levels, that 6 year supply will just sit there. Just not enough buyers in Miami for $500,000 small condos.
...Miami realty still has a 30-50% price correction coming in 2008-2009 and patience will be rewarded. Supply and demand. Period. Too much supply, slackening demand, propery tax system in dissaray, severe money and lending contraction, and both domestic and global economy deteriorating hourly do not make this an opportune time to purchase FL real estate.
...new construction will see a drop to about $200-$250 a foot.
...The risk of buying now - before all the fraud and flippers weed themselves out of the market - might be a catastrophic purchase. The risk of waiting until 1 year after a bottom has occurred might be that you are buying 0-3% off the bottom price.
...Wait till the market bottoms, then give it another year to see if that bottom holds and believe me, you will be able to safely purchase a property 0-3% from THE BOTTOM.
http://www.miamicondoinvestments.com/2008/01/20/miami-miami-beach-condo-trends-january-2008/
Miami & Miami Beach Condo Trends - November 2007
November 17th, 2007
http://www.miamicondoinvestments.com/2007/11/17/miami-miami-beach-condo-trends-november-2007/
Miami & Miami Beach Condo Trends - February 2008
February 26th, 2008
...Since the January 2008 update, the overall condo supply in Miami-Dade County has increased about 10.3 percent.
http://www.miamicondoinvestments.com/2008/02/26/miami-miami-beach-condo-trends-february-2008/#comment-3299
Miami & Miami Beach Condo Trends - January 2008
January 20th, 2008
...In November, the existing condo inventory represented 4.04 years of supply. Now, just two months later, we’re sitting on 6.01 years of condo supply. This represents approximately a whopping 49 percent increase! This is mainly attributed to a large drop-off in closed sales in the previous month.
Comments:
...don’t tell me about the euros and the canadians coming to the rescue (even if their currency is strong a smart purchaser looks at price in absolute, and not relative, terms).
...Until prices come down to 2001-2003 levels, that 6 year supply will just sit there. Just not enough buyers in Miami for $500,000 small condos.
...Miami realty still has a 30-50% price correction coming in 2008-2009 and patience will be rewarded. Supply and demand. Period. Too much supply, slackening demand, propery tax system in dissaray, severe money and lending contraction, and both domestic and global economy deteriorating hourly do not make this an opportune time to purchase FL real estate.
...new construction will see a drop to about $200-$250 a foot.
...The risk of buying now - before all the fraud and flippers weed themselves out of the market - might be a catastrophic purchase. The risk of waiting until 1 year after a bottom has occurred might be that you are buying 0-3% off the bottom price.
...Wait till the market bottoms, then give it another year to see if that bottom holds and believe me, you will be able to safely purchase a property 0-3% from THE BOTTOM.
http://www.miamicondoinvestments.com/2008/01/20/miami-miami-beach-condo-trends-january-2008/
Miami & Miami Beach Condo Trends - November 2007
November 17th, 2007
http://www.miamicondoinvestments.com/2007/11/17/miami-miami-beach-condo-trends-november-2007/
South Florida Fire Sale....
...This is not pretty. Miami is looking at another 8% loss next year, and a 25% haircut in the next 4 years. In my opinion, that is being kind. Factoring in the new hyper inflation of at least 3-5% per year, condo owners, hotel conversions, half occupied developments, and over supply will shave some 50% in inflation adjusted prices off some neighborhoods. Yes, I said 50%. You heard it hear first. Don't believe me? Take a drive to Miami and see all of the unfinished condos. Travel to West Palm Beach and marvel at the numerous abandoned condo projects. Think these builders like Lennar, WCI, Toll, Centex, etc. are going to stop building and adding to the already bloated supply of inventory? Not a chance. They are like sharks that either swim or die- they either keep building or go bankrupt.
http://southfloridarealestatebubble.blogspot.com/
http://southfloridarealestatebubble.blogspot.com/
Foreclosure...
Foreclosures Home News and Trends Center Press Room
http://www.realtytrac.com/ContentManagement/pressrelease.aspx?channelID=9
By RealtyTrac Staff
FORECLOSURE ACTIVITY INCREASES 8 PERCENT IN JANUARY
By RealtyTrac Staff
http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=4148&accnt=64847
Top 10 Cities With Highest Foreclosure Rates in 3rd Quarter, 2007
1. STOCKTON, CA 7,116 31
2. DETROIT/LIVONIA/DEARBORN, MI 25,708 33
3. RIVERSIDE/SAN BERNARDINO, CA 31,661 43
4. FORT LAUDERDALE, FL 16,595 48
5. LAS VEGAS/PARADISE, NV 14,948 48
6. SACRAMENTO, CA 15,479 48
7. CLEVELAND/LORAIN/ELYRIA /MENTOR, OH 16,332 57
8. MIAMI, FL 15,484 60
http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=3609&accnt=64847
By RealtyTrac Staff
http://www.realtytrac.com/ContentManagement/pressrelease.aspx?channelID=9
By RealtyTrac Staff
FORECLOSURE ACTIVITY INCREASES 8 PERCENT IN JANUARY
By RealtyTrac Staff
http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=4148&accnt=64847
Top 10 Cities With Highest Foreclosure Rates in 3rd Quarter, 2007
1. STOCKTON, CA 7,116 31
2. DETROIT/LIVONIA/DEARBORN, MI 25,708 33
3. RIVERSIDE/SAN BERNARDINO, CA 31,661 43
4. FORT LAUDERDALE, FL 16,595 48
5. LAS VEGAS/PARADISE, NV 14,948 48
6. SACRAMENTO, CA 15,479 48
7. CLEVELAND/LORAIN/ELYRIA /MENTOR, OH 16,332 57
8. MIAMI, FL 15,484 60
http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=3609&accnt=64847
By RealtyTrac Staff
Projecting Shiller's graph
http://patrick.net/housing/contrib/housing_projection.html
Graph created by John Capra, a modification of a graph from the NY Times.
http://patrick.net/housing/contrib/housing_projection.jpg
Graph created by John Capra, a modification of a graph from the NY Times.
http://patrick.net/housing/contrib/housing_projection.jpg
Subscribe to:
Posts (Atom)