The Tampa Tribune reports from Florida. "J.P. King, the real estate auction house known for selling off luxury properties across the country, is gearing up to sell 100 condominiums this weekend in Tampa, and is predicting many more condo auctions in Florida next year."

"'Frankly, they overbuilt the market,' he said. As a result, many developers now have surplus condominium units that they couldn't sell, he said. The Hamptons auction 'is the first of a lot of what you're going to see in 2007,' he said. 'There will be more in Florida probably than anywhere else.'"

"Of the 100 units Bay Communities will auction off, 40 will have no reserve price, which means there's no minimum price for bidders. The Hamptons has sold only about 56 units, which means about 260 remain on the market."

"Carter said developers must cover taxes, interest and maintenance costs on unsold properties, which is a strong incentive to sell them off. 'When you factor in getting out from under those carrying costs, you probably come out ahead,' he said."

"Some previous buyers say they've encountered unexpected liens and unpaid bills at The Hamptons. Nancy Alexander said she was looking for a little extra income a year ago when she bought two condominiums there. Instead, she said, she found unpaid tax bills, a growing list of liens, and the kinds of hassles she hasn't seen before in her 20 years as a local real estate broker and investor."

"Complications continue to mount, and bills and liens keep arriving, she said. 'We still hate going to the mail,' she said."

The Herald Tribune. "As soon as Barbara Anson realized last summer that the market for raw land in the Myakka City area was dead, she called her clients and told them to slash prices."

"'People had to realize that the bubble had burst,' said Anson. 'If they wanted to sell, they needed to lower their prices.'"

"And not just by a little bit. 'Prices have to come down to where they were five years ago,' Anson said. 'Five-acre parcels that were selling for $250,000 to $300,000 should now be priced at $130,000 to $150,000. Ten-acre parcels that were selling to $300,000 should now be $195,000 to $180,000.'"

"Anson 'is one of a handful of very sharp Realtors who has been forward thinking,' consultant Jack McCabe said. 'No matter how many Realtors say that this is a great time to buy, buyers are more savvy now. They understand that it doesn't make sense to buy into a falling market.'"

"Anson realizes that her conclusions about the market are not popular among fellow real estate agents, but she sees no other way to jump start the market. 'Prices were 150 percent overvalued during the boom,' she said."

"Some observers think that the developer proposing one of the region's largest retail destinations for Jones Loop Road, are banking on some dramatic demographic changes in southern Charlotte County that are by no means guaranteed."

"West Palm Beach builder Syd Kitson's giant Babcock Ranch proposal (is) expected to add another 50,000 households to the area around the Charlotte-Lee county line."

"The customers that The Wilder Cos. is banking on are younger, wealthier and much more active than exist today. 'They are not building to meet today's needs, but what they expect to be tomorrow's demands,' Scott said. 'They are expecting large numbers of baby boomers, many of which who will be coming into quite a bit of money.'"

From TC Palm. "KB Home's Treasure Coast division had its second round of layoffs in less than six months and may be closing its Vero Beach design center on State Road 60."

"Bill Glynn, a Realtor in Vero Beach, said through his contacts he learned KB Home will lay off up to 900 employees statewide. 'I think they did away with a lot of their support staff in Brevard, St. Lucie and Indian River,' Glynn said. 'That's what these big builders do when things slowdown, they lay off people.'"

"Don Santos, past president of the Treasure Coast Builders Association, said said another indicator the home building giant could be leaving the Treasure Coast is the unloading of vast parcels in Port St. Lucie."

"Edie Ousley, spokeswoman for the Tallahassee-based Florida Home Builders Association, said, 'There are a lot of layoffs in residential construction right now,' Ousley said. 'We soared to unsustainable highs in 2005 and now we're experiencing a downward correction.'"

"Ousley added that she's concerned Florida's economy could suffer if the market continued to slump. 'Construction is Florida's second largest economic engine and we need this industry to thrive,' Ousley said."

The Florida Times Union. "In the wake of fewer home sales and increasing inventory, local home builders and Realtors are arming themselves with a weapon they hope will help turn the tide in the local market: Information."

"Most speakers at the seminar hit the audience with a similar message: 'Now is a great time to buy.'"

"Home building consultant Charlie Clark cited unrealistic expectations among sellers as one of the reasons the number of home sales has slowed in the past year. 'Just because they think their home is worth something, it doesn't mean somebody else does,' he said."

"Evidence of the strength in Jacksonville's market seems to not be reaching home builders' sales people, said Clockwork Marketing president Maxine McBride. When asked by mystery shoppers if it was a good time to buy, sales associates tended to cite strong incentives given by builders rather than strong aspects of the market, she said, emphasizing the need for builders to get the message across on the ground level."

"'It's no longer business as usual,' she said. 'People want a magic bullet, but there is none.'"