Four reports on Florida's housing bubble. "North Port - The real estate bubble hasn't exactly burst, said several people involved in the business, but it's being squeezed a bit. Bunny Jones observed prices went up right after Hurricane Charley as people sought rentals. For the next year, she said, 'it was nothing to get three offers on a house. Houses were being overpriced and moving at those prices.'"

"'But people who bought then are now in trouble if they want to sell at the same price they paid,' Jones said."

"(Developer) Bill Bracken said in some respects the media created a self-fulfilling prophecy. 'During the boom,' Bracken said, 'some builders had investors buying up a lot of houses, and then they could not afford to pay for them. So the builders were left with a lot of product on their hands. In some ways, that helps buyers because some builders are eager to deal.'"

"(Realtor) Arthur Broslat said in North Port more than 2,500 lots are available, and only 30 sold in February (other than the Sarasota County-North Port lot auction). In South Gulf Cove, some 500 lots are available. 'During a good week now,' he said, 'one of those lots might be sold. It was like someone just rang a bell in October. All of a sudden, everything came to a halt,' Broslat observed. Last year he had a handful of listings and every one sold. 'Now, I have a hundred and they keep coming in the office; I can't stop them.'"

"Ted Allen said, 'This is not just in North Port, houses aren't selling in Boston either. If they can't sell their homes up north, they aren't able to come down here and buy.'" "Broslat observed that some of the area's major builders are offering huge financial discounts and incentives. He sees banks cutting off loans to builders until they start selling the inventory they already have on the market."

"Last week, the Pensacola Association of Realtors listed 5,642 properties for sale, a five-year high and nearly four times more than the 1,487 homes listed in March 2005. As surplus has mushroomed, selling prices slowly are beginning to drop, witnessed by the many 'Reduced' signs that are being added to the 'For Sale' signs throughout the two-county area."

"In February, 406 homes were sold in the Pensacola area."

"Real estate agents say the single biggest factor behind the high inventory is overpriced housing, driven largely by speculators who were hoping to capitalize on pricing jumps after Hurricane Ivan. 'Some prices were inflated after the storm, and a lot of people saw that and wanted to cash out,' said Robert Montgomery, a real estate broker. 'Some prices were unrealistic, and prices are a little inflated now, but they are beginning to come down.'"

"It's gone from sizzle to fizzle. That's how some local analysts characterize the market for new home construction on the Treasure Coast. As homebuilders see sales slow, many large firms are spicing up their offers. The incentives are highlighted in full-color, full-page newspaper ads, but rarely discussed."

"If the incentives are public knowledge, why won't builders talk about them? Tod Buyers for Mercedes Homes, declined comment, saying, 'the stuff in the media is not favorable to builders.' Mercedes spokeswoman Joyce Wilden did not return calls for comment. Rich Brown, South Florida division manager for Maronda, did not return calls for comment. Jane Sonet, of Centex Homes Southeast Florida Division, did not return calls for comment."

"Builders are also trying to rid themselves of a glut of inventory, Brad Hunter said, because speculators may have put deposits on homes, but backed out of contracts because of lackluster demand from end users."

"Southwest Floridians who have homes or condominiums on the market are waiting longer for properties to sell because of the current lull in activity. Fiona Finn, broker in Fort Myers, said in mid-February she had 110 listings, compared with 20 at the same time last year. 'There's an overwhelming supply,' she said. 'It's one of the slowest seasons I've ever seen.'"

"'If you need to sell today, you need to price accordingly,' Finn said. 'I always tell the sellers to take the position of the buyer.'"

"In many cases, homeowners have lowered the original price more than once. Brokers cite reductions from $10,000 to $150,000. 'Two-thirds of my listings have had to make price reductions to match the market,' Judy Ramage said."

"If the price is too high, owners should be willing to reduce or wait. Some listings expire, evident in the 111 that expired in Lee County on Feb. 16. 'If you're not getting any showings, there's only one problem,' broker Denny Grimes said, 'and that's price. They need to get realistic and quit getting greedy."