The Bradenton Herald reports from Florida. "Condo buyers are getting a warm welcome these days with 2,246 condos actively listed for sale in Manatee County. A caveat might be: If you're selling condos, you'd better have them competitively priced or they won't sell, according to developers and real estate sales agents."

"A broker who sells waterfront condos and single- family homes on Anna Maria Island and Longboat Key was unenthused Monday about the market. 'All of the listings are coming down in price. They're not even moving even though they're coming down,' said Phillip Saadi, a broker in New Tampa. 'Why? I don't know.'"

The Herald Tribune. "Warren Hickernell looked like the boldest contrarian in the Southwest Florida real estate market last year. He spent millions changing motels and apartment buildings into condominiums long after the conversion trend seemed spent."

"But with banks foreclosing on six of his 18 conversion projects, demanding repayment of more than $17 million, Hickernell now looks like a gambler whose luck ran out after he kept letting it ride on red."

"In December 2005, Hickernell bought the 46-unit Bermuda Apartments in Sarasota from Daniel Prewett for $10.23 million, court records show. Prewett had paid just $5 million nine months earlier."

"'Hickernell had to have a lot of courage to pay that much at that time,' said Kent Davis, a former Anna Maria Island motel owner. 'Everyone knew the market was dead in late 2005. No one expected a happy ending at that point. It was game over.'"

"Backed by the RBS Companies of Brighton, Mich., and other investors, Hickernell spent nearly $20 million to buy five apartment complexes during the first six months of 2006."

"Court records show that Hickernell and his partners defaulted on their first loan on June 30, 2006, just three days after a different Hickernell-led investment team had spent $6 million to buy the 41-unit Three Fountain Apartments in Sarasota."

"The default was on a $1.884 million loan from the Bank of Commerce that was used to buy the Pearl Beach Inn in July 2004. The bank foreclosed on Pearl Beach six months later."

"Meanwhile, three investors contacted by the Herald-Tribune say Hickernell has not informed them about his financial struggles. 'We heard he had a problem with one property,' said Boca Grande resident William Decklever. 'We didn't realize he was having trouble with five.'"

"In the latter half of 2006...two California investors, John Couch and Christopher Woods, appeared on the scene and bought five Bermuda condo units at an average price of $659,200, nearly twice the average per unit price paid by the first three buyers."

"Richard Dear and other experts contacted by the Herald-Tribune are convinced that the two Californians paid way too much. 'I would not want to be the lenders holding the mortgages on those properties,' said Dear, a Siesta Key vacation resort owner and friend of Hickernell's."

The Orlando Sentinel. "In the midst of showing a house for sale, real-estate agent Debbie Frucci got an unexpected visit, from a police officer."

"The problem: her open-house signs. Placed in the public right of way, the signs violated Winter Springs city rules. So the signs came down, and the open house got shut down. 'There was no sense in doing it if people didn't know where to go,' Frucci said."

"Open houses have become increasingly important in the softening real-estate market. But most of the signs, whether those placed by real-estate agents, new-home builders or homeowners, are there illegally, and local governments are cracking down. A coordinated, statewide sweep six months ago collected more than 7,000 signs in just Orange and Seminole counties."

"'A lot of our members weren't having to do open houses, the market was so hot,' said Frankie Elliott, VP of government affairs for the Realtor association. But things have changed. There's more than a year of inventory on the market, according to association data."

"'Now, you're having to go back to the way the old market was,' Elliott said. 'You don't want to spend four hours sitting in a house and have no one come by because your signs have been taken.'"

"Even real-estate veteran E. Everette Huskey found himself with virtually no customers at an open house when his sign advertising the event got removed from along Wekiva Springs Road. 'They're hurting the Realtors,' he said. 'They're hurting the homeowner.'"

"'The Realtors are being thrown in a big pot, if you will, with all the other people that put out a gazillion little signs [such as] 'Lose 30 pounds in 30 days,' said Jeff Bales, a Lake Mary real-estate agent."

"Gloria Beharry owns the house Frucci was trying to sell. Now paying taxes and mortgages on two houses since she moved to a bigger home, Beharry wants to sell fast. 'If the house had more exposure,' she said, 'it would help a lot.'"

The Sun Herald. "This deal is dead. Developer Mark Flannagan allowed the March 28 closing date to pass, effectively ending his intention to purchase the 12-acre tract of land comprising Shady Haven Mobile Home Park for $7.8 million in order to build a condo complex there off Old Englewood Road."

"'Our contract is now dissolved,' said park co-owner Mary Allseits. 'That's about all I know. We are no longer under contract with Mark Flannagan. He did not go through with the deal.'"

"'We're going to return to business as usual until we decide something further. For right now, though, we're just going to be running Shady Haven as we always have,' Allseits said."

"This came as a reprieve to Shady Haven resident Dolly Fetcko. 'It means we can breathe a little bit easier, at least for another year or so,' Fetcko said."