S&P/Case-Schiller reports that new home prices have dropped an average of 4.4% this year. While builders do not dispute the 4.4% decline, National Association of Home Builders points out there has been an aversge 50% run-up in prices over the last five years.
The current housing price correction is most pronounced in the once super-heated markets in CA, NV,AZ & Florida.
Now is the time to buy in Florida. Hernando & Citrus counties have a large inventory of both new and resale homes.

Per the national Association of REALTORS 2007 Profile of Homebuyers and Sellers: At 39 years old, the typical homebuyer is two years younger than in 2006, earns $74,000 and purchases a home costing $215,000.

The bayou will take over downtown St. Petersburg this weekend as the Cajun Zydeco Crawfish Festival rolls in. The menu: includes 10,000 pounds of crawfish, along with Cajun and Creole dishes.

The festival will feature live music at 7:30 p.m. Fri.-Sat., and 4:30 p.m. Sun. including Cajun, Zydeco and “swamp pop” bands. Dance lessons are available.

Activities include kids crawfish races, a mini-Mardi Gras bead toss and crawfish eating contests.

The festival is from 4:30 to 10 p.m. Friday, noon to 10 p.m. Saturday and noon to 8 p.m. Sunday at Vinoy Park, in St. Petersburg. Admission will be charged.

Paid parking, with free shuttle service, is available at the BayWalk garage.

For more information, call (727) 892-5798 or go to cajunconnection.org.

Investors who wait for a market to bottom out often tend to miscalculate the timing. Their desire to maximize gain costs them profit in the end, as they often “miss the market”.

Here in the Tampa Bay area, a consensus of economists and analysts holds that median home prices have a way to fall before they’re back in line with buyer expectations and incomes.

Realtors are finally seeing bargains on the market begging for buyers, including bank foreclosures for sale at one-third less than one year ago.

Even builders are becoming more realistic with pricing. The builders are cutting prices for new buyers .

Are such deals stimulating sales? Not much. It’s as if buyers suspect a trap door lurks under the talk of price floors.

The prices obtained for property in 2005 absolutely needed to come down to more realistic levels, although many sellers still live in Make Believe Land, where every house is made of gold.

Despite tough talk, banks aren’t rejecting too many offers. With thousands of properties in default, Realtors expect home sellers to join the race to realistic pricing.

Don’t miss the Strawberry Festival! The Festival continues through Sunday, March 9, 2008. Gates open daily at 10 am, offering a variety of fun, shopping, entertainment, and of course, everything strawberry. Special offers are available. For more information, and directions, please visit www.flstrawberryfestival.com.
The Florida Strawberry Festival®
Location :2202 West Reynolds St.
Plant City, FL 33563-4706
Telephone: (813) 752-9194