The Naples News reports from Florida. "Two sales have been successfully completed since an Oct. 21 Naples residential real estate auction. The first house at 1430 Crayton Road sold to a Minnesota company for $660,000, according to records from the Collier County property appraiser’s office."

"The market value of the Crayton Road house and land is listed as $788,257."

"Announcement of Drake’s auction caused a stir two months ago. Some real estate professionals complained that there was no minimum bid requirement, and, for that reason, Naples Area Board of Realtors would not include the listings at the group’s Web site. Drake originally listed 51 properties, only 45 of which attracted bids."

From Florida Today. "Brevard County's housing market continued to be in the doldrums in November, according to the latest statistics from the Home Builders & Contractors Association of Brevard. The number of housing construction permits issued countywide in November was 235, down from 613 permits in November 2005."

"'It's been pretty serious. It's going to get a little bit more serious before it gets better,' said Franck Kaiser, the association's CEO."

"How serious is it? The number of mortgage foreclosures in Brevard County has increased in recent months as housing prices have fallen and sales have slowed since last year, according to Kaiser and others in the local real estate industry. In places such as Palm Bay, 'For Rent' signs have become a somewhat common sight in front of homes."

"A lot of it stems from investors who bought homes last year -- when prices peaked, and they haven't been able to sell at a profit, or even break even. 'They can't carry all that debt,' Kaiser said. 'They can't make the payments.'"

"'We've seen a spike in foreclosures,' said Sue Pierce, owner and principal broker at Integrity Home Loans in Melbourne. 'I just saw a foreclosures list with about 200 people on it from the Palm Bay area. A lot of them are investors' who are stuck in the market. 'Usually, you'll see only a handful of names,' Pierce said."

"In Brevard County, the median sales price of an existing single-family home in October was $212,400, down 11 percent from $238,200 in October 2005."

"Condominium prices dropped to a median of $179,000 in October, down 17 percent from $214,400 in October 2005, according to the latest statistics from the Florida Association of Realtors."

The Gainesville Sun from Florida. "Gainesville home prices are the fifth-fastest growing in the nation, according to a list appearing on CNNMoney.com Wednesday. However, Carol Bosshardt of Bosshardt Realty said a lot of 'sales' in 2006 were closings of sales made in 2005 when the market was stronger. 'A lot of it is artificial,' she said of the increase."

"The increase is puzzling, Bosshardt said, because there is more supply than demand."

"Deborah Minck, president of the Gainesville-Alachua County Association of Realtors, said she hopes the news will counter what she called negative and misleading press about a housing bust. That made people hesitant to buy, she said. At the same time, sellers responding to 2004-05 demand have created a large inventory of houses on the Gainesville market."

"Despite the slowdown, she said 2006 will still be the third-best year on record."

"(Realtor) Carolyn Quinones expressed surprise that Gainesville was in the top 5, but said that may have as much to do with a slowing national market as increases in Gainesville. 'What I have heard in the past is that we tend to be behind the national curve by a couple months, maybe a couple years,' she said."

"The value of vacant land also continues to increase tremendously 'because we just don't have anymore of it,' she said."

The News & Observer from North Carolina. "Sales of existing homes declined for the second consecutive month in November, further weakening the Triangle's most important industry."

"Brokers closed on 5.5 percent fewer homes last month compared with a year ago in Wake, Durham, Orange and Johnston counties. The inventory of unsold homes rose 5.1 percent and the number of sellers scaling back asking prices jumped 11 percent, according to the Triangle MLS."

"The $9.3 billion industry, which provides thousands of jobs, has been pinched by fewer numbers of transplanted buyers, who had helped drive the market to records in the past two years."

"'Now that we've seen a second month of similar data, this confirms where we are heading,' Moody's.com economist Michael Helmar said. 'The forces pulling the nation down will pull Raleigh and Durham down, just not as low. Slower job growth, spent up demand for housing and higher adjustable rate mortgages will impact your area.'"

"Hundreds of sellers are slicing prices to sell homes. There were 3,650 homes with reduced prices on the market in November, or 35 percent of all listings."

"Many brokers say they are losing sales because buyers can't close on their homes in other parts of the country. 'My agents say their clients tell them 'we'll do something after ... my home out of town sells,' said (broker) George Pittman. But 'well-priced houses are still selling in this market.'"

"Glen Astolfi, COO for Cary's DNJ Mortgage, said higher adjustable rates slowed sales. In 2004, adjustable mortgages with rates as low as 3.75 percent comprised 40 percent of his company's loans. Now the lowest rate is 5.5 percent and adjustable mortgages comprise only 10 percent of his company's loans."

"Years of inviting interest rates encouraged potential home buyers to move up their purchasing decisions, which means fewer buyers in the market now, experts say."

"'Attractive interest rates have brought a lot of what we called future buyers into the present, which creates a shortage of present buyers when we reach the future and the future is here,' said Bernard Helm, a Rocky Mount consultant who tracks Triangle residential trends."