The Herald Tribune reports from Florida. "Associate Realtor Rick Greene traded e-mail messages last week with staff writer Michael Braga about the current reality in the real estate and insurance industries in Southwest Florida."

"Q: What has been happening to real estate sales and prices over the past six months? What has been driving these trends? A: Over the last few years, there was quite an abundance of press attention to the rising real estate prices, and speculation as to when that 'bubble' would burst. The media has focused on that decline and speculated as to how low the market could go."

"'In enabling a self-fulfilling prophecy, those who read the papers, in depending on that viewpoint, have decided to remain on the sidelines to see just how low low is.'"

"Q: When are we going to climb out of this trough? A:Unfortunately for the sellers, because of the glut of properties on the market, prices may continue to be at their current lows for some time.'"

"'However, this is a good time for buyers, prices are down to 2003 and 2004 levels, and some buyers are desperate to unload properties that are camouflaged by the sheer numbers in competition. The early bird gets the worm. If the media got behind that idea, the marketplace would see some quick changes upward.'"

The Sun Sentinel. "Every year at this time, the South Florida Sun-Sentinel polls real estate industry professionals who are experts in different segments of the local real estate market. Here are their responses:"

"David Levin, a real estate industry consultant based in Delray Beach: 'People with a vested interest in promoting real estate transactions will use anything they can to claim that 'now' is a good time to buy and/or sell. Despite this, sales volume for 2007 will remain at current levels. As sellers and buyers continue their 'Mexican Standoff,' prices will erode approximately 5 to 10 percent further.'"

"'Inventory levels will increase before backing down in the latter part of the year as disenchanted sellers take properties from the market and buyers selectively buy properties that actually meet investment criteria or can be carried by income.'"

"David Dweck, a real estate agent in Coral Springs: "The resale market will hit bottom in 2007, and it will remain a buyers' and renters' market. Foreclosures will continue to increase to perhaps record levels from Miami-Dade through Port St. Lucie. Many real estate agents and title companies will be history since the party is over. Finally, investors will be in a great position to buy at prices significantly below market.'"

The Palm Beach Post. "The existing-home sales report for November from the Florida Association of Realtors comes out Thursday and real estate watchers will be, well, watching to see if prices continue to tumble."

"For an early look, here's what Illustrated Properties' evaluation of local MLS sales for the month shows. The inventory of homes on the market rose to more than 22,000, down from August's peak of nearly 29,000, but still in record territory. By comparison, there were half as many homes on the market a year ago, IPRE says."

"Sales remained in the basement last month with 628 closings, the lowest level in more than a year."

"Yes, home prices are falling, but there's a not-so-thin line between making an offer that reflects this reality and insulting the seller. 'We are amazed at some of the crazy (low) offers people put through on homes that have been marketed at a reasonable price,' says Realtor Randy Bianchi in West Palm Beach. 'It almost becomes insulting,' he says."

"Actually, Bianchi is too polite to say that some offers are insulting."

"Case in point: Bianchi has a condo in West Palm Beach listed for $170,000, a reasonable asking price, he says, for an end unit with many upgrades and a great view. The last two sales (within the past 45 days, he points out, not last year) were for that much or more."

"'We got an offer of $145,000 with 95 percent LTV (loan-to-value),' he says. 'Come on! If it were cash, I might understand. But financed? I think buyers are assuming that all sellers overprice homes, or they're not listening to their agents or nobody is doing their homework.'"

"Or all three."