The Ledger reports from Florida. "The battle for Polk County property appraiser has been a battle over appraisals during hard economic times. In his campaign against incumbent Marsha Faux, Rusty Boedicker has enumerated one property after another to demonstrate what he perceives as inequity in the county's property assessments. Boedicker, a real estate agent in Lakeland for six years, estimated that 60 percent of properties countywide are overassessed, while others are taxed at an unreasonably reduced rate."

"He cited a property on Lake Hollingsworth that sold for $1.8 million in 2006, but is assessed at $1.3 million. 'That's just not right,' he said. 'It makes you wonder what's really going on.'"

"Faux said she's familiar with that property, which was purchased by a couple who didn't negotiate the price."

"'When that came through our office, we called about it because it just didn't seem right,' she said. 'They wanted that house at any price, and they paid the price that the seller named."'

"Faux said the price was high for that area, so her office set the assessed rate at the market level. 'We have to do that for many properties,' she said."

The Tampa Tribune. "Luxury condominiums in downtown Tampa could be up for grabs soon for about $100,000 each. But there's a catch: you'd have to buy all 171 units for at least $17.2 million, the minimum bid. That's a bargain, considering units were originally marketed for about $200,000 to $1 million, and the developer owes the bank more than $47 million."

"'That's a good deal,' said Jack McCabe, owner of McCabe Research & Consulting in South Florida. 'This is just the beginning of the good deals to come. The best deals will be had by people with lots of cash.'"

"Fida Sirdar, who heads Key Developers, told the Tribune in March that he hoped the bankruptcy protection would enable the company to turn the development around. In fact, Sirdar said at the time, he had so much faith that the real estate market in Tampa would improve that he was planning to start two more towers in 2009."

The St Petersburg Times. "Sirda signed up buyers for two eight-story condo towers in 2005. But by 2007, buyers were suing by the dozens to back out of deals."

"This probably won't be the last condo-related auction: Projects such as the Towers at Channelside and Trump Tower Tampa also are inching their way through bankruptcy court. Trump Tower is little more than a lot on the Hillsborough River, but developers expressed fear last month that their multi-million-dollar property may be subject to a fire sale if they don't get a cash-rich investor."

"An apartment complex at W Hillsborough Avenue and Countryway Boulevard is going condo and - well - clothing-optional. The Eden, on its Web site, says it will soon allow nudity in a 'private European/South Beach style swimming pool and spa area.'"

"Condo officials say the Westchase homeowners need not worry about property values. 'If their concern is how this amenity will affect their community, on a real estate level, it'll only help increase the traffic and interest for all neighboring communities,' said the Eden project manager Peter Mead."

"Neither Mead nor Norman knew how many condos had been sold as of Tuesday, but the buzz has been strong, they said. They say they have received inquiries from around the country and abroad about the units, which range from $170,000 to $380,000."

"Andrew Bassford of Riverview worked in the construction industry for 20 years and spent the last 15 years earning what he thought was a 'decent wage' as a journeyman bricklayer.

"Until recently, he said, the work was steady. But residential development has ground to a halt, and state-allocated funds for school construction has been suspended."

"'It's frustrating,' Bassford said. 'I just want a job that will pay most of my bills. So far, I haven't found anything that will cover 50 percent of my bills. And my expenses are low. I own my own home and I'm ahead on my FHA Federal Housing Administration loan.'"

"'I've given up looking for construction work,' he said. 'I got my Class A driver's license so I can drive freight trucks.'"

The Herald Tribune. "Before the economy went sour, patients in local therapy sessions talked mostly about traditional emotional problems like marital discord, familial troubles or depression, local psychologists say. But recently, as job losses, with home foreclosures and economic woes mounting, many therapy sessions have begun to focus more on how people are suffering from stress and anxiety related to their finances or employment."

"'I'm hearing every day about people being laid off,' said Roxane Dinkin, a psychologist in Bradenton. 'I'm hearing every day about homes going into foreclosure. Sometimes, I hear it every hour. It's affecting people from all walks of life.'"

From Business Week. "Apartment rents have stabilized or dropped in Florida, Nevada, and Arizona as landlords compete for tenants with desperate condo and homeowners, including those leasing properties they're unable to sell."

"In the Naples (Fla.) area, for example, home prices fell 29%, to $275,000, in July compared with a year earlier, according to the Naples Area Board of Realtors. Rents are falling, though not nearly as much: In the Naples metropolitan area, rents fell 9.4% in the third quarter compared with a year earlier, according to AXIOMetrics."

"Still, the average monthly cost of renting an apartment in Florida is 50% to 60% of what it costs to own, according to Jack McCabe of McCabe Research & Consulting in Deerfield Beach, Fla."

"'If [home] prices were going up and you could hold on to [a house] for a long time, you might be able to make a case that it's a better time to buy,' McCabe says. 'But if you have the ability to rent for half the price without the liabilities that go with owning, it's a smarter decision to rent.'"

"Buying a home makes little sense, especially if the buyer doesn't plan to use it frequently, according to Vincent Valvo, whose company puts out monthly home sales data on Massachusetts, Rhode Island, and Connecticut. 'It makes no fiscal sense whatsoever to buy a second home-it barely makes fiscal sense to buy a first home,' he says. 'If you rent, you know what the costs are. If something breaks, it's somebody else's headache. It's a vacation.'"

The Naples News. "Q: Do you have any idea what's going on with that condo project called The Carlyle behind Mel's Diner in Bonita? It looks finished, but its been empty for more than a year now."

"A: The Carlyle just looks empty, Deborah, but it's really the slow housing market. The developer of the five-story, two-building housing complex - aptly named Carlyle Development, LLC - finished construction in November, but only 15 of the 60 units have been sold."

"The place looks abandoned because of the 15 sold units, only six are occupied and only one is occupied on a year-round basis. However, a few more of the sold units are ready to rent out, so you should see some more activity at the complex in the coming months."

"Realtor Mickey Gifford, one of three real estate agents selling the property, said the sale of the units has been extremely slow. The last one closed in January."

"The real estate agents have opened up a furnished model to hopefully speed up the sales on the three-bedroom, 1,700 square foot units, but it could be some time before The Carlyle is bustling with activity. All the units come with all appliances and are ready for residents, expect for a couple homes that still need flooring, but there's no rush as plenty of others are available."

The Sun Sentinel. "When no one responded to a call for bids Thursday at the Broward County Courthouse, a condemned Lauderhill apartment complex reverted to the bank that has a $20 million investment in the place."

"The 26-building Villas of Lauderhill had plenty of company at the public auction. Nearly all the foreclosed homes and condominiums offered during the traditional 'courthouse steps' fire sale failed to attract buyers."

"Lackluster turnout at court foreclosure auctions is becoming common, according to lawyers who frequent such auctions to bid for mortgage lenders. 'Last year, there would be tons of bidders. This year, there's barely anyone,' said Vincent D'Antonio, a Plantation-based attorney who on Thursday bid to keep three Broward homes for a bank."

"Many banks are retaining most of their foreclosed properties because there are so few good bid offers at the auctions, said Louis Spagnuolo, VP for WCS Lending in Boca Raton. Also, he said, buyers have stopped attending them, turning instead to banks' in-house real estate departments to buy property."

"'It's more efficient, it's a better deal for them and they're buying in a non-competitive arena,' Spagnuolo said."

"During the first half of this year, 23 percent of sellers in Broward County unloaded their homes at a loss, according to sales data analyzed by the Sun Sentinel. In Palm Beach County, the percentage was even higher - 27 percent. That's a significant spike from 2006, when only 2 percent of sellers in each county took losses."

"'It's fair to say that some people are desperate,' said Brad Hunter, a housing analyst in West Palm Beach. 'But there are others who regret having bought the house at the price they paid and if they can get rid of the obligation of having to continue paying on it, they're happy to do it.'"

"Most people dumping properties this year bought during the peak of the housing boom in 2004 and 2005. Many strapped homeowners are negotiating so-called short sales."

"In Broward County, one in three home sales in Miramar in the first six months of 2008 went for losses, according to Sun Sentinel research, which did not include foreclosure sales. Coconut Creek, Parkland and Weston also were among the hardest-hit Broward cities."

"In Palm Beach County during the same period, West Palm Beach and Palm Beach Gardens both had 34 percent of sellers taking less than they paid. Also hurting were the west-central communities of Royal Palm Beach and Wellington, where property values had soared during the housing boom."

"James Diehl bought a three-bedroom house in Wellington for $389,000 in 2005 but quickly discovered South Florida was too expensive. The information technology analyst eventually found a higher-paying job in Atlanta, so he and his wife rented their house here for about a year."

"Knowing they couldn't sell the house for close to their mortgage amount and determined to avoid foreclosure, the couple worked out a short sale with real estate agents who found a buyer for $284,000 - 27 percent less than the Diehls had paid."

"'The economic burden has been lifted,' said Diehl. 'Everything happens for a reason. Now we've moved to a place where we can settle down, survive and thrive.'"

"Mary Cochrane bought a $290,000 townhouse in Davie for her daughter in 2005. But she didn't read the fine print on her adjustable-rate mortgage and saw her monthly payments rise a year later from about $1,600 to $2,400. She said the lender wouldn't modify the loan."

"She eventually contacted her neighbor, a real estate agent who suggested she try a short sale. He found a buyer for $175,000 - 40 percent less than Cochrane had paid. 'It was a blessing,' said Cochrane. 'I sleep at night now.'"

"Gerry Thompson bought at the height of the housing boom and soon regretted it. He paid $585,000 for a Fort Lauderdale home in 2005 for his daughter, an investor. But values started dropping the next year, and the house needed major repairs. Fed up, Thompson sold it five months ago for $380,000 - a 35 percent price cut."

"Because he didn't qualify for a short sale, he had to bring $83,000 at closing to make the deal work."

"'I was quite happy with the sale price, although it was considerably less than what we had in it,' said Thompson, who splits his time between northern Florida and North Carolina. 'We're done with the real estate business, believe me.'"

"Hunter, the West Palm Beach housing analyst, said the mistakes that people have made in this real estate cycle will be remembered for decades."

"'What's happening is historic,' he said. 'Much will be written about it in textbooks, articles and essays long after we're through this.'"