The Florida realtors have the October sales out. "The pace of home sales in Florida continued to slow in October. A total of 12,773 existing single-family homes sold statewide last month, a decrease of 22 percent from the 16,407 homes sold during the previous October, according to the Florida Association of Realtors."

"Looking to Florida's existing condominium market, sales of existing condos also decreased in October, with a total of 3,440 condos sold statewide compared to 5,001 in October 2005 for a 31 percent decrease, according to FAR."

"'Inventory levels appear to be stabilizing and sales prices also are leveling,' says Dorine Longhini, president of the Realtor Association of Greater Fort Lauderdale. 'This is good for buyers, who have more options in the market, while the biggest impact has been on speculative buyers.'"

"'I see evidence that the real estate market is on the rise,' says Jerry Mabus, president of the Realtors Association of St. Lucie and broker associate in Port St. Lucie. 'We’re on the cusp of growth in a new direction.'"

The Baker County Press. "Baker County residents who believe the area is growing too fast can relax a bit. The real estate and housing slump that began nationwide during the summer is clearly obvious here as 2006 draws to a close. The balloon that was a frenzied re-sale and new home market the past two years has burst, and property priced at 'old' levels sits unsold."

"'The way the market is now, sellers are having to come down on prices, it’s no longer their market,' observes Wayne Combs of a Macclenny real estate company."

"So, what do we know? The bubble has burst, no one disputes that as November draws to a close. If you were a seller and wanted in on the feeding frenzy, that was 2005 and half of 2006, you’ve missed the boat."

The Miami Herald. "The two-acre parking lot next to the Bank of America Tower in downtown Miami rode the building boom to the top. Today, there is no construction on the site. The deals have collapsed, the buyers are locked in a court fight, and the original owners have the property back up for sale."

"'There is a lot out there for sale,' said Adam Greenberg, president of BayBridge Real Estate in Miami. 'But a lot don't make sense because they come with designs that are very expensive to build or with condo sales contracts that are below market.'"

"There are 22,254 condo units under construction in Miami, according to the city's planning department. That's compared to 15,525 total units that went up since 1995."

"Meanwhile, 29,558 condos have been approved by city commissioners for construction, and developers have proposed another 30,674 units that city planners are reviewing. These number say nothing of the building in other towns across Miami-Dade and Broward counties."

"You've heard the pitches for home mortgages that just about anyone could get: 100 percent financing! No closing costs! One percent interest! A lot of South Floridians did indeed rush into these unconventional mortgages in search of a bargain. Now some are finding themselves trapped by monthly payments that are about to soar, even as the real estate market slumps."

"Cynthia Cariseo is struggling to make interest-only payments on an option adjustable-rate mortgage for the Dania Beach town house she bought last year. Cariseo said her broker cited an interest rate of 3.4 percent, but didn't tell her it applied only if she made a minimum monthly payment. The actual rate: 8.4 percent. And if she wants to refinance, she gets hit with an early payoff penalty of nearly $8,000."

"Cariseo put her vacation home in Mexico on sale last week, hoping to raise enough to pay off the mortgage. 'I am stuck,' Cariseo said. 'My payments have gone up three or four times. I know I'm not the only one, but that doesn't make me feel any better.'"

"In 2006 alone, more than 15 percent of new home loans in South Florida were what is known as 'payment-option adjustable-rate.' The real hikes are likely to arrive en masse by next summer, when payments go up for more people."

"''People will avoid foreclosure at whatever cost because it ruins your credit,' said Ana Valenti-Brisuela, a South Miami real estate broker who also does financial planning. 'But some, especially those who bought at the peak of the market last year, are going to sell for $50,000 or $100,000 less than they bought for in order to save their credit.'"

"Julio Escobar, who lives in North Miami Beach, said he didn't know what he was getting into when he took out an option ARM. When he refinanced again into a fixed-rate loan in September, his payment had risen to $1,300 and, to his astonishment, his balance was $211,000."

"'I was throwing money away,' Julio said. 'The broker we did the deal with didn't really explain all that, or maybe it was a mistake on both sides.'"