Top 10 Reasons Real Estate Prices are Depressed
1. Marco Island real estate agents have no clue as to what to do now that buyers have stopped calling them cold and buying anything at any price site unseen.
2. Bill Moss.
3. It has finally occurred to the “seasonal crowd” that nearly all of the restaurants on Marco Island produce grotesquely overprized marginally palatable food served by the local riffraff. Corollary; It has yet to occur to the permanent residents that nearly all of the restaurants on Marco Island produce grotesquely overprized marginally palatable food served by the local riffraff.
4. Real estate agents are propagating the “fact” that real estate markets are depressed everywhere – including Las Vegas, Phoenix, Miami and San Antonio.
5. Rumor has it that the Jolly Bridge is going to be torn down over a period of five years, upon which it will be replaced with a toll ferry.
6. People have realized that once the entire island is on sewers, the sewage processing station will have to be upgraded - costing $40,000 per every property owner on the island.
7. The Marco Island city council voted unanimously to depress real estate prices in response to a unanimous vote by the citizens to increase real estate prices.
8. Citizens are up in arms about the docking of boats due to the fact that not one citizen understands what the issue is.
9. Marco Island residents are believed to be too stupid to vote for an elected good city manager.
10. There is only one Starbucks on the island serving the super-sized quadruple mocha latte with the extra layer of lard, in complete violation of what is required by the Geneva Convention. The law requires one Starbucks on every corner.
2. Bill Moss.
3. It has finally occurred to the “seasonal crowd” that nearly all of the restaurants on Marco Island produce grotesquely overprized marginally palatable food served by the local riffraff. Corollary; It has yet to occur to the permanent residents that nearly all of the restaurants on Marco Island produce grotesquely overprized marginally palatable food served by the local riffraff.
4. Real estate agents are propagating the “fact” that real estate markets are depressed everywhere – including Las Vegas, Phoenix, Miami and San Antonio.
5. Rumor has it that the Jolly Bridge is going to be torn down over a period of five years, upon which it will be replaced with a toll ferry.
6. People have realized that once the entire island is on sewers, the sewage processing station will have to be upgraded - costing $40,000 per every property owner on the island.
7. The Marco Island city council voted unanimously to depress real estate prices in response to a unanimous vote by the citizens to increase real estate prices.
8. Citizens are up in arms about the docking of boats due to the fact that not one citizen understands what the issue is.
9. Marco Island residents are believed to be too stupid to vote for an elected good city manager.
10. There is only one Starbucks on the island serving the super-sized quadruple mocha latte with the extra layer of lard, in complete violation of what is required by the Geneva Convention. The law requires one Starbucks on every corner.
posted by Mario R. Sanchez, Ph.D. at
10:25 PM
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Number of Comments: 4
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4 Comments:
Actually, the net effect of #10 is that since there aren't enough of these "fine" coffee houses, there aren't enough ladies walking in tandem on the sidewalks (thereby covering the entire sidewalk) doing "exercise" while guzzling the super-sized mocha latte with the extra layer of lard.
By
Anonymous, at Thursday, June 01, 2006 8:36:00 AM
Has it ever occured to thsoe fine ladies that doing "exercise" while drinking the super-sized mocha latte with the extra layer of lard (albeit the best of lard) is somewhat antithetical?
By
Anonymous, at Thursday, June 01, 2006 8:38:00 AM
Reason #1 The ONLY real reason the real estate market is slow:
The real estate market on Marco Island is slow because of market conditions around the entire nation. Try reading any newspaper throughtout the country. Of course, admiting the facts wouldn't be any fun and this site wouldn't be worth reading if you couldn't blame somebody.
By
Anonymous, at Saturday, June 24, 2006 4:43:00 AM
Sure, continue believing in what the media tells you to believe so you can feel comfortable doing nothing – except to criticize those that point out problems.
The real estate market is NOT experiencing a down trend EVERYWHERE. Check the facts yourself. Here is a clue – look at Las Vegas, Phoenix and Miami. Sales (of new and used) homes continues at a pace equal to or better than last years pace.
Here, so you don’t have to bother actually looking – from Harvard (yes, I know, its not as prestigious as the realtors on Marco Island). Don’t strain yourself reading.
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The History of Market Declines
The appendices to the Harvard University Joint Center for Housing studies report that came out last week contains a spreadsheet showing the recent history of market declines.
House prices do drop, of course. In markets that experienced that phenomenon between 1980 and 2004, the average decline was 13 percent.
Still, over the past 30 years, nominal house prices have in fact fallen by five percent or more at least once in about half of the nation’s 75 largest metros. In most cases, it takes significant job losses—or a combination of overbuilding, modest job losses and population outflows—to drive house prices down substantially. In terms of magnitude, price declines associated with episodes of major job losses alone average 4.5 percent, while those occurring in and around periods of overbuilding alone average 8.3 percent.
It happened in 32 markets, with the worst decline in Oklahoma City in a price reset of 26 percent that began in 1984. In second place was Austin-Round Rock, Texas, with a 25 percent decline that began in 1987.
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But you know what, keep watching CNN and the local realtors feed you the line – like you said – its better to blame somebody or something – like “its happening everywhere” even if not true – than looking at the cause of the problem.
Look at the causes why there is a decline in SOME MARKETS.
Oh, in case you don’t know, there are more than 32 markets in the U.S.
Ignorance is bliss.
By
Anonymous, at Saturday, June 24, 2006 12:57:00 PM
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