You are here :
Home 
Southwest Florida Real Estate Blog Lee County Life and Times of the Survivors
Southwest Florida Real Estate Blog Lee County Life and Times of the Survivors
Todays is : Monday, 06 February 2012
| Lee County Life and Times of the Survivors |
 |
 |
 |
| Written by Greg Snow |
| Tuesday, 27 October 2009 14:49 |
| Heading into late, late October an still wacthing the temperature caress the 90 degree and higher marks, do we begin the road to recovery in our real estate market or are there still "Barbarians at the Gate", which was the attempted buyout of RJR Nabisco by it's President and soon exploded into a bidding war, much like our market in 2004-2006. In 2006, the most expensive real estate deal in U.S. history occurred with an investment group buying some huge apartment complexes in Manhattan for over $5.4 BILLION. The group was very confident they could make it work.. WRONG. Now, months away from defaulting on over 4.4 BILLON dollars in loans, they may just walk away. I bring this ocurrence up because the Florida State Board of Administration has already written off $250 Million dollars as a bad investment. Other states have similar loses, with California having larger ones. These loses have a trickle up and down effect on our local, state, and national investment instruments. Unsold national housing inventory is down 15% from a year ago with represents about a 7.8 month supply, which is down from a 9.3 month in August. Interest rates are in the low 5% neighborhood, with sales prices still at or near record lows. September sales volume is up over 77% from September 2008, with prices down about 37% from same time here in Lee County (swflrealtors.com). As I navigate the highways and byways here in Lee County, I see many of our midwestern license plates a little earlier than most years. If only we we could convince these "snowbirds" that Lee County needs not only their patronage during long, cold winters here, but become our defacto ambassadors here and where ever they travel, that our West Coast of Florida is on the leading, not bleeding edge of paradise. :) |
Lee County Real Estate News
Copyright © 2012 Southwest Florida Real Estate Agent | Greg Snow. All Rights Reserved.
Joomla! is Free Software released under the GNU/GPL License.
