The Miami Herald has this update from Florida. "In January last year, two of 23 residential projects planned for Fort Lauderdale's Flagler Village area were under construction. More than a year and a half later, construction has started on only four others. At least eight projects have been put on hold, delayed or scrapped. Whether the rest get built may largely depend on how the real estate market plays out."

"'To do a condominium project now is really a risky venture,' said analyst Jack McCabe. All of the uncertainty led Doug McCraw to halt plans for Brickell Point, a 205 loft-condo project. 'I stopped the project cold turkey,' he said. 'Everybody has backed away until the market has settled.'"

"Developers of the Waves, a 21-story, 75-unit condo development, also put the brakes on its project earlier this year after failing to obtain construction financing. Dozens of buyers who had put down deposits totaling 20 percent of the purchase price have sued. 'You have to have $10 million in the bank before you can borrow $4 million,' said W. Bruce DelValle, a Kissimmee lawyer representing the Waves' developers."

"Metrostudy said families moved into only 291 of the 795 homes built in the 8,300-acre development during the first six months of this year. 'Go into any new subdivision in St. Lucie County and you'll see more for sale signs up than you'll see drapes in the windows,' said Jack McCabe. 'St. Lucie County, at times, had led the nation in rising home prices; naturally, they will be subject to the greatest potential downturns.'"

"There were 958 new homes left vacant, up from the 447 a year ago. Adding in the 1,518 units under construction in St. Lucie County subdivisions, the report estimates that it would take more than 19 months for those homes to be filled at the current pace of homes being occupied, the report stated. Indian River County had 637 vacant new homes."

"Richard Hope, president of the Treasure Coast Builders Association, attributed rising inventory levels to builders oversold spec homes to investors, novice speculators walking away from builder contracts that required extremely low down payments or reservations fees, (and) developers over built homes hoping the market would continue to show strong returns."

"'As far as the stats go, I hate to say it but it confirms what's been going on awhile, the market is cooling' said Hope."

The St. Petersburg Trimes. "Only half as many homes were sold in Pasco County in the first six months of this year compared with the same period last year. 'Supply has caught up with demand,' property appraiser Mike Wells said. 'When that happens, sellers have to become realistic, and what they're asking for their product. The investor has moved on. I do think that builders are probably competing with investors that they sold houses to a year ago.'"

"About a third of Pasco homes are listed as nonprimary residences, Wells said. As prices soften, market watchers say investors are getting burned off."

The Herald Tribune. "Now that the boom is largely over and listings are piling up all over Southwest Florida and the nation, the combination of smart pricing and marketing has taken on a new air of importance."

"There is a lot of static in Southwest Florida's real estate market right now. Just in the Sarasota MLS, for example, listings of homes and condos had soared 300 percent to 11,229 this month. Meanwhile, real estate agents are only moving 141 units per week, a decline of 40 percent from the clip a year earlier."

"Pricing a home to sell is nothing new, but has gained credence as the market all over the nation has become weaker. 'When everybody is $20,000 or $30,000 over price, looking for a miracle, it doesn't work,' said David York, (broker in) Sarasota. 'What I advise my clients to do, if they want to be the next one to sell, they have to price it under every other comparable property.'"