Greg Snow - Southwest Florida Real Estate Expert provides real estate services to Cape Coral, Fort Myers, Sanibel and Captiva Islands

 Leading headlines today in our local newspaper the News-Press indicates more foreclosures, this time upscale homes are the next target in our topsy turvy real estate market. Lee County is down about 40% in volume from October of 2008, however the middle class is now living the dread of foreclsure fiilings on their properties here. Although new hosuing starts are actuall up here, reduction of inventory is still top priority for all builders. The real estate industry has scratched, struggled, and fought the market's retreat from median home price of $325,000 plus in December of 2006 to about $88,000 today and bargain opportunities still occur should one wish to purchase "the American Dream".

I just read where Warren Buffet and his Berkshire Hathaway group purchased Burlington Northern Railroad for almost $30 BILLION DOLLARS... which indicates one of the all time sharp investors is "all-in" on a harbinger service to accomadate the country's return from the abyss. Locally, we have Lee County reaching the end of almost three years of losses, depreciation, and wipeout of real estate values with real tangible tragic stories of being swept up in the tidal wave of flipping, opti-arm mortgages, and in some cases even fraud to arrive at where we are today. Where are we? Where are we going? Who's on first? What's on second? I don't know -third base!!!!!! Ah, Bud and Lou, come on down. We need you here.:)