Myrtle Beach Online reports from South Carolina. "The buyer's market continues on the Grand Strand as condominium sales continue to slide, making little dent in a ballooning inventory. Condo sales dropped 31 percent in third quarter 2006 to 5,003 from 7,269 in third quarter 2005, according to the MLS for Horry and Georgetown counties."

"Real estate brokers say some condo prices are being cut, but single-family prices are holding steady. Analysts say it will take more than a year to clear out the 10,493 condos on the market. About 4,946 condos were on the market this time last year."

"The market's 5,291 single-family homes may take 10 months to be absorbed, said (broker) Rod Smith. About 3,305 homes were on the market this time last year. Smith said sellers are having trouble backing away from the price their home would sell for in 2005. But buyers are aware the market has softened and aren't willing to buy at any price."

"'I don't look at it as a bad market. There are just two kinds of markets, buyers markets and sellers markets,' said market analystTom Maeser. 'We're just going through a correction right now.'"

The News Press in Florida. "The number of single-family permits issued in Cape Coral and unincorporated Lee County plunged in September — reaching levels not not seen for years. Builders in unincorporated Lee County, Bonita Springs and Fort Myers Beach pulled 458 permits for single-family houses in September, down 61 percent from a year ago and down 22 percent from August."

"Real estate agent Michael Schneider-Christians in Cape Coral said the decreasing number of permits is a result of the increased inventory of homes available for purchase. 'We do not need much new construction,' he said. 'People who would actually like to have a new house have one ready to go. They don’t have to wait for one to be built.'"

"Michael Reitmann, VP of the Lee Building Industry Association, said there are a lot of good deals available on existing homes, lessening the attractiveness of building new ones. 'Right now the investors are competing with the builders to divest themselves of inventory,' Reitmann said. 'I think it’s going to take at least a year, year and a half.'"

"More optimistic was real estate agent Ernie Horvath, who noted 'we’ve already received an 18 percent price reduction' for single-family homes since the height was reached in December when the median price was at its all-time high of $322,300. In August, the median price was $264,100, according to the Florida Association of Realtors."

"Sandra Cheney of Cape Coral said she and her husband recently experienced firsthand softening of the market. They put their lakefront Gulf-access home on the market in December for $659,000."

"After months without even a bite, they reduced the price and finally went under contract a few days ago for $495,000. All in all, Sandra Cheney said, it’s a tough market. 'We’re under contract, finally, finally, finally,' she said. 'It wasn’t a fun thing to be going through.'"

The Orlando Sentinel. "According to the Orlando Regional Realtor Association, the Orlando area's existing-home market peaked last summer. The inventory of properties for sale, meanwhile, has ballooned from less than a two-month supply to more than 10 months."

"'Buyers are out there, and they're looking at a lot of inventory,' said Barry Carnes, broker Longwood. 'You're seeing a couple of [price] adjustments, at least, before some [homes] are selling.'"

"'If you're an investor, you're probably not going to get great returns,' said Stanley Smith, a professor of finance at the University of Central Florida. 'If you're looking to buy a home, you're probably not going to lose much, and you may gain some.'"

The Herald Tribune. "There are three primary reasons for a Southwest Florida price decline: tightening monetary policy, rampant real estate speculation in the last three years and affordability, Moody's economist Brian Carey said."

"'The speculators have left the market. They were involved in bidding up the market, by artificially increasing demand. Now they are totally shut off, and they are trying to sell what they bought,' he said."

"Dave and Jane Wilson have seen evidence of price declines. The two retired federal workers went heavily into residential real estate with their retirement savings in 2004-05. They are still in the game, but looking to get out of two south Sarasota condominiums in the Serenade development."

"'One went from $235,000 down to $210,000. The other, we paid $191,000, and I have seen them for $175,000 to $180,000,' Dave Wilson said. They will sell the Sarasota properties when they can break even 'and sort of get out of Florida,' Wilson said."

The Courier News. "Dear Mr. Berko: I'd like your thoughts on buying three condo-hotels at $625,000 each. These units recently sold for $675,000, but the developer said the units could easily be rented 30 weeks out of the year. This looks like a superb investment that would easily pay all my costs, including mortgages on the three properties. What do you think of this idea? It's like having three second homes and it won't cost me a dime."

"Dear HE: I think your developer is a big fat liar. The real estate market in most parts of Florida is quaking on its foundations, and prices that have been pushed into the ozone layer by carpetbaggers and unctuous speculators may fall like tears from a tall camel's eye. The maniacal and insane rush to build condominiums and homes in Florida has finally exceeded the unhinged hyperhysteria to buy."

"Walk away. That developer is giving you a heck of a sales pitch and making promises that I doubt he can keep. He's stuck with inventory that isn't moving and it sounds like he's getting desperate."