Storms The ‘Icing On The Cake’ In South Florida
A new survey on south Floridas’ housing bubble. “Softness dating back to the end of the third quarter has continued in the first quarter, the South Florida (Metrostudy) division has reported. The division, which includes Palm Beach, Broward, Miami-Dade, Martin, St. Lucie and Indian River counties, said the slowdown was influenced by a number of factors, including buyers’ concerns about purchasing homes at the height of the market, as well as investor supply.”
“‘The increased supply of finished, vacant homes illustrates the slowing market, with 4,141 unoccupied homes, an increase of 57.6 percent compared to 2,627 units one year ago,’ said Bradley Hunter.”
“Metrostudy said it is also tracking more than 207,000 future lots in subdivisions soon to begin development or in existing communities where new phases of development are about to start. Nearly half of that new supply is in St. Lucie County and more than one-quarter is in Palm Beach County, the company said.”
“There are 831 active subdivisions in South Florida and 759 future subdivisions planned for home construction, Metrostudy added.”
“The supply of finished, vacant homes in Palm Beach County was only 353 units, but Metrostudy said there were 5,623 units under construction. ‘There are 20,000 single-family and multi-family units on the resale market, suggesting that a large number of sellers who are not in brand-new homes are testing the water,’ Hunter said.”
“With 349 finished, vacant units and 2,515 homes under construction in Broward County, Metrostudy said there is a 13.2-month supply of inventory. Hunter said, ‘How long the investor supply will depress absorption will vary greatly by submarket and product type.’”
“In Miami-Dade County, Metrostudy said the 10-month supply of vacant, finished homes and units under construction is slightly high.”
From Reuters, “Keys homeowners are also socked with Florida’s highest insurance premiums. Citizens Property Insurance proposed a base windstorm rate of $20.91 per $1,000 of insured home value for this year. Key West resident David Lane and his wife recently listed their historic 2,000-square-foot (186-sq-m) home at $1.5 million and plan to head to Asheville, North Carolina. Their windstorm insurance premium: $12,700.”
“‘If a really bad storm hit here, a big part of the value of our house is the land. What would the land be worth?’ David Lane said.”
“On Big Pine Key, resident Pam Henry said she is struggling to pay $16,000 a year in property taxes and home insurance, and is moving to central Florida. ‘The hurricanes put the icing on the cake,’ Henry said.”
“‘You pay $400,000 for a trailer that’s going to be junk soon. It’s incredible,’ said Jose Cuevas.”
The News Press. “Southwest Florida pawn shops have become stop-offs for some residents looking for a few extra bucks to fill their gas tanks. ‘The biggest thing right now is gas and real estate taxes,’ said Tim Velasco, owner of Gold & Pawn, Fort Myers. ‘They’re pawning TVs, VCRs, DVDs to get from Fort Myers to Naples.’”
Cash is king. Be ready to swoop in and get some great deals from these fools. Just be lucky you are smart enough to read this blog and know what is really going on
Anyone stretching their budget to purchase a TRAILER in hurricane alley now or in the near future has rocks in their head, even if prices were cut in half.
1. Hurricane season is around the corner again.
2. Another bad season is predicted.
3. I’m not a scientist, but Global Warming does seem to be real and warm water makes hurricanes.
4. Insurance companies will not touch you.
5. Property taxes are really, really high.
6. The continual, repeated stress of evacuating or waiting to evacuate is not fun. Trust me, it gets old.
7. Power outages for three weeks are not fun either. In 98 degree heat.
If you love the Keyes, then book a cottage for a week. It’s cheaper!
If you love the Keyes, then book a cottage for a week. It’s cheaper!
EXACTLY…..Don’t be a “prisoner of place”……..
the keys are in real trouble imho. the last four or five storms really took the legs out for most of the “real” people in the keys. most of the middle class could only afford to live in trailers, which were decimated by wilma. many of the parks that survived were raised, making room for “luxury condominiums” in the $600k to $1M range. the grocery workers/hospitality workers commute by bus from miami dade, it’s silly. one good storm this season is gonna finish off the party.
I am in the keys. Man you should see all of the houses for sale. About 1 out of 5 in my subdivision.
You should see the stuff I’m getting on Ebay at unbelieveable prices.
What type of stuff are you getting on Ebay, Txchick?
Thanks to the readers who contributed to this post. From the Reuters piece:
‘The population of Monroe County — the entire Florida Keys — dropped 2.16 percent to 76,329 in the year to July 2005. In the last five years, the county’s population has shrunk 4.1′
Brother sold small home in Islamorada (Key below Key Largo) 5-6 years ago for low $100s. Can’t believe people are buying trailers for $400k. Somebody stop the insanity!
BTW that home was simple but clean and in very good shape. Being made of concrete it actually stands up to high winds better than a trailer!
holy cow! he must hate himself…
Divorce…had no choice
Last year, someone paid a million dollars for a trailer in Key West.
This year in Malibu, CA.
I rent a 650K two bedroom condo in Key Largo for 900.00 a month.
The new retail report came out today. Sales were up and robust in April, beating analysts’ expectations. What’s going on? I don’t get this. Gas is up, rates are up, refi down, wages stagnant, so where did people get the money? Something doesn’t add up here.
From last month’s data, housing cooled a bit, but that doesn’t affect the economy at all. Seems the party is still on. Oil/gas prices up, no problem. Rates up, no problem. Commodities up, no problem. $$$ tanking, no problem. Someone, please, tell me what’s going on?
Easy, just break out the credit card!
Don’t be worried.
The lag effect of energy prices, interest rates hasn’t really hit yet….
The good news for bears is all of the robust data indicates that the Fed has too keep raising rates to contain inflation or at least maintain the pretense that they are containing inflation.
Wait until the hurricanes come…plus, didn’t you see yesterday that 88% of refi’s were for more than 5% of the original loan value? These people are filling their tanks and buying cheap crap by borrowing against their homes because they think they appreciation will never end. I’ll bet my last $ that the first big storm that comes into the Gulf that drives gas prices up to $4, $5/gallon, is the straw that breaks the camel’s back.
Gee, like the guyin my office that took TWO HELOC’s last year against his house. The first was to buy an “investment ” condo which he has a renter in that he has to chase her doen every month for the rent. and last month another $60,000 for a brand new boat that has sat in the shop for 6 weeks getting fixed.
Talk about a poster child for calling the top.
market is showing enormous strength….pretty much worldwide..truely globalised.
well, keep your eyes peeled.. It is very tempting to take a jump.
Thanks to the commodity craze and $$$ slide, there is no way for BB to stop before 5.5%.
ricardian equivalence - consumer confidence is very high right now so people don’t have problems taking on loans or spending because they expect income to rise. This is good - let’s hope it stays this way to cushion the housing bubble deflation that is going on right now.
For the past year betweem 30% and 45% of North Americans believe the U.S. economy is in recession. That’s because, for them, it is.
Check out this income graph for the last 50 years.
Courtesy of Itulip
http://tinyurl.com/frhno
I’m currently reading a book by historian Max Hastings called “Apolcalypse the “Battle for Berlin.
Right up until the end of the war, the civilian German populace having been subject to a decades worth of Joeseph Gobbels propaganda, actually believed they had done no wrong. They were completely deceived and subsequently brainwashed.
Same thing with FED government stats. Look at Greenspan with his decade long 2/3% inflation numbers. What a fookin’ joke.
Say it long enough and eventually people will believe it as the truth.
Pay no attention to the man behind the green curtain.
I do suspect true inflation is behind all the good numbers. The official CPI numbers can barely conceal it now. I guess the final day of reckoning will be the time people reach their maximum debt service limit and the whole thing will just collapse. I am wondering when that will be.
soon
So long as people keep drinking the Kool-aid, everything is going to be fine. It is an economic perpetual machine, did you not know that? Need some more money,just raise everybodies credit card limit. Raise property valuations, but do not raise labor, as it is a major component of inflation!.
The truth is that either this country makes something to export, and therefore pay for the stuff we need, with manufacturing, or we pay for it in debt. For the last 20 years we have been paying for everything with debt, as we outsourced our manufacturing to cut costs, and provide a better return on investment.
That return on investment is coming to bite us in the rear end.
In the 90’s we exported human talent, and computers, High Tech, etc. Now we outsource human talent, and all of our computers are made in taiwan, or the Philippines, or some other “low” cost locale…
That “low” cost locale cost people their jobs. Without jobs, there is no consumption….
Without consumption, there is no growth, and no need for low cost jobs in the philippines.
What does greenspan do? He spikes the punch with additional vodka and sugar! he manages to keep the economy moving along, while at the same time sinking the middle class, and protecting the banks.
Do you guys really think that the Rich Upper class in this country will allow hyperinflation? See their ubber-richness degraded to simple richness? Imagine Paris hilton with a gold CC instead of a Diamond CC?
Sorry About the rant…
Ya know what else I think is inflation? When you have to buy 5 of the same small appliance (1 new and 4 replacements) in 10 years instead of 1 in 10 years due to quality downgrade. Dumb housewives (I’m a hw so I can say this) are so happy to have all new stuff to show off they don’t realize they are paying 5x as much for the same functionality.
Exactly - this is just part of the whole consumer nature that has taken over our country. I love consumption for the reason that it keeps the economy going but there is a whole market that has been built convincing people they need to upgrade this or that or be left behind. I know too many people into this; must get a new car every couple years, new tv every even year, etc. Ha ha, I’m still driving my 13 year old truck and lovin’ it while using a 10 year old tv, 20 year old washing machine, and 4 year old computer.
a relative just sold in Venice for 25% under listed price= to may 05
will we see 04 prices by year end?
refi is down ,but not out
read the wapo article
getting out of arms and keeping some cash-er spending it
“Metrostudy said it is also tracking more than 207,000 future lots in subdivisions”
But that’s it right? After all we know South Florida like every other bubble zone is running out of developable land. Classic urbanist Big Lie®. They and developers in concert use this BL® to push for projects that existing residents would reject otherwise.
No room indeed:
A search in “Miami” yields the following results for all sfm/condos/townhomes:
17,359 residential properties as of February 1, 2006
19,194 residential properties as of February 21, 2006
20,207 residential properties as of March 13, 2006
21,758 residential properties as of April 10, 2006
22,517 residential properties as of May 4, 2006.
That’s a 28% gain in 3 months.
And how many of these were high rise shadow casting, view blocking, roads clogging zoning variances? Every single one I’d wager. And how many of these would have been approved if the neighbors had any say? None I’d wager. And now with the burst bubble which of these are municipal and neighorhood liabilities? Every single one. This is just greedy shortsighted developers and nasty would be soical engineers masquardeing as urban planners in an unholy alliance to force people back into high density urban ghettos.
Robert, you are right. It seems residents have to fight TOOTH AND NAIL every single time a developer sets their sights on an area.
Urban Planning seems to be a myth here in Florida, as education and transportation are often an afterthought.
Oh, and the “construction dust” here is so bad that I could build sandcastles with what comes in through the windows.
arizonadude
there will not be any winners in the florida keyes. only casualties. old ones and new ones. what interest rates couldn’t do wind insurance took care of. a growing population of people there who wish to stay and have no house mortgage have simply dropped their coverage. you are looking now at the next potential financial catastrophe.
After watching insurance companies stall and argue over coverage from Katrina and Rita, while at the same time FEMA hands out checks to the uninsured why would people want to buy insurance?
Yep, another sick bailout on the way for the uninsured.
The only problem with hurricanes in Florida is all of the transplants moving here and driving up prices. Florida has always had hurricanes (at least for the >100 years my family has been here), and gets hit an average of once every other year. Fools building million $ homes on sandbars (instead of 800 ft2 pole shacks we had when I was growing up, that could be rebuilt in a week with scrap materials), and doubling or tripling home prices in 5 years are what’s killing insurance rates. We are in a high storm cycle right now, but it really is no different that the ’60s or the ’20s-’30s, we just have better measurement equipment now. We are seeing more major storms at sea, but fewer major storms have actually hit land. It’s just the media hyperization. Global warming will probably play a factor by the end of the century, but warmer waters only increase storm intensity. Temperature gradients are what initialize tropical storms, and warmer polar temps would actually reduce the number of storms.
Personally, I would love to see the keys wiped clean. It used to be such a beautiful place before it bacame a 200 mile strip mall/tower bonanza. A return back to the population levels in the 50s & 60s would be nice, from my native view. I might even finally go back to visit (and maybe even buy a disposable shack while I’m there).
Right on. And for all people howl about increased insurance costs, their premiums would be lower if their stupidly monstrous homes dropped in value by 50%.
Today’s Miami Herald has an article about the slowdown in visitors to the Keys. They can’t quite decide why locals aren’t visiting anymore. I think it is readily apparent that we don’t visit anymore because we are tired of having to pay $10 for a liquor lacking boat drink while seated between a puking drunk cruise ship visitor and an obnoxious wealthy transplant that only visits their million dollar condo once a year.
The real Keys were killed off by greed and developers well over 10 years ago.
Here’s the article.
http://www.miami.com/mld/miamiherald/business/14496925.htm
Here is the article: http://www.miami.com/mld/miamiherald/business/14496925.htm
http://www.miami.com/mld/miamiherald/business/14496925.htm
Everything old is new again !…..
” Real estate prices quadrupled in less than one year. An elderly man invested $1,700 in property and by 1925 the property was worth over $300,000! It seemed you could do no wrong by just buying any property in Florida and become a millionaire. By 1925, real estate prices had become so exorbitant that buying land wasn’t affordable any longer. New investors failed to arrive and old investors started to sell. Panic arrived, as it always does, and the real estate market crashed. Prices kept moving downwards as heavily indebted investors tried to sell to avoid bankruptcy. In most cases, no buyers arrived, and the investors were bankrupt from the enormous mortgages. ”
http://www.stock-market-crash.net/florida.htm
Love this stuff!
Look, the powers to be and those with a vested interest are trying to make as much $$$ aspossible before the chit hits the fan. Is it a coincidence that HB insiders have dumped their shares, that the builders have attempted to bring to market as much product as possible, that every week there is a new and more insane form of loan, that the Fed and banks keep printing and lending money like a drunken sailor, that the dollar is crashing while commodities are soaring?
IMHO they all know that they are merely shuffling arround deck chairs on the Titanic but they will never let the “public” know. They can’t for fear of a collapse in the eceonomy.
After all , wh ya gonna beleive.. the MSM, the goverment, the Real Estate industry.. or your lying eyes?
TOL taking a hit this morning - They must have leaked the info for tommorow’s release to the analyst’s or the individuals doing their “planned” sales?!?!?
Could be what I posted in another thread — small builder OHB reported some disastrous (to me, anyway) orders numbers.
Overall new orders plunged 25% YOY in the March quarter. NJ and PA orders dropped 63% YOY. FL orders tanked a stunning 71%. And that last point is really key. Sales here appear to really be falling off a cliff. My own inventory tracking in Jupiter has shown an almost 300% increase in for-sale inventory since last June (though it did dip somewhat the last few days … could be listings that expired at the end of April, who knows?)
Heard an interview of Jerry Brown (Mayor of Oakland) about teachers wanting more pay then the budget can afford. His comment was that “People construct their world precluded of the facts”….How apropos for the housing bubble !!
Not sure if this has been posted already, here’s a link to a very recent interview with Jim Rogers in Johannesberg:
http://tinyurl.com/kr7nt
Jim smells a recession within 12 months and he thinks US the stock market is headed down. He continues to be bullish on all commodities, particularly agricultural.
Thanks for the link Moon;….If I had to hand my cash to 1 person to invest and preserve, it would be Jim Rogers…..
Some people may be comfortable with the risks of living in the Keys, but it’s obvious that insurance companies are not comfortable. I do wonder what would happen if there was no homeowners insurance available in this state at all, which is clearly where we’re heading. I used to have a native-Floridian co-worker who remarked that “before mosquito repellent and air conditioning, Florida wasn’t worth a s__t.” What about before insurance?
Slightly off-topic, but some news from Tampa: today’s newspaper had yet another add for the planned Trump building, this time stating that 20 units have become available. Also, a developer previously denied in its attempt to build a tall condominium building on Bayshore Boulevard is seeking to waive the one-year barrier to re-petitioning the city for a rezoning. I interpret this as an acknowledgment that in one year, the market will be very different.
Trump Tower will never be built (nothing is happening, although the builders pretended to be working for a week or so after a negative article in the St. Pete Times); neither will Newport on Gandy. These were ridiculous, outrageously overpriced projects from the outset. Miss Toni and her appalling real estate marketing needs to accept the fact that her tycoon days are numbered. Donald Trump is white trash, and she’s wallowing in it.
I HATE “miss toni” and her band of retarded clowns with too much makeup (both male and female) driving their leased luxury cars trying to jam more f-ing condos down our throats. Her company is “handling” the conversion of my dump of a former apt. complex on Harbour Island. Her agents were some of the least-educated and tackiest people I’ve ever seen. I laughed out loud every time I heard them making a sales pitch, which was always met with the most withering glare they could muster with all that botox in their faces. I often wish they would all die of gonorrhea and rot in hell.
PS– I am actually NOT an angry person–just frustrated.
Don’t forget the Glamour Shots. She’s behind some townhouses down the street from me. They’re actually quite pretty, if you don’t mind climbing three or four floors of stairs, or looking at the tastless sign screwed on the front, but they certainly are not worth the asking price. I noticed one of her agents had a sign out “contract pending” for months on one of them, then the sign disappeared, but place still looks empty.
I have a friend (formerly of Harbour Island) who describes her as a “barricuda.” I don’t know; perhaps she’s a nice person, but her real estate empire is awfully annoying. She certainly appears not to care about the damage she’s doing by driving up real estate prices and packing people into Tampa like sardines. I guess some local goofs really do worship money, and the idea of being barricudas in small polluted ponds.
I’d like to see the male realtors in makeup (I approve if it helps). I wonder, does it slide off in the heat and humidity?
Forgive the careless typing. That should read “Miss Toni and her appalling real estate market need to accept . . .”
A 28% gain in 3 months is amazing numbers.
Does anyone have ideas on what all time highs in inventory may be?
Thanks,
Simmssays…
What NOT to get Mom
http://www.americaninventorspot.com
In my area, SFH/Condos for sale listings increased by 33% in two months.
A friend of mine, tired of NE winters, bought a trailer home in Ft Lauderdale in Fall 2004. Its owner just wanted to unload it; he got stressed out by the 2004 hurricane season and had a bad feeling about the near future. My friend laughed at the man’s fraidy-cat persona and picked up the trailer for $25K.
Wilma destroyed it, 11 months later. Friend had no insurance. He is broke and staying on another friend’s porch/guestroom, last I heard. I sent $500 in sympathy, but I won’t be doing that again if he buys another trailer down there.
What an incredibly clever pseudonym.
I was in Sunrise (west FLL) in Feb. Stayed in a hotel across from the largest trailer park I have ever seen. Almost every roof was a blue tarp. Trees were still down in the streets. The hotel sign was blown out. This was a full 4 months after Wilma hit. The devastation was much worse than the media played it out to be.
I have a hard time feeling sorry for people in trailers. They often run back out and replace a trashed trailer with a new one. What’s going to happen when a cat 5 tears through that area? If it weren’t for rural Florida trailers would be banned in the state (and should be).
Trailers are all many people here can afford, particularly with the yankees rushing in and frantically grabbing up everything with both hands.
The trailers that are less than five years old actually have to meet some pretty tough category 3 wind standards, and there are supposed to be rules on the books about how to properly anchor them on the lot. And the newer trailer stock actually comes through storms fairly well.
The problem is that the vast majority of trailers in the state went in before the current wind standards went into place, so you’ve got thousands and thousands of 80s era trailers in those parks that weren’t designed to handle high winds, and those trailers are predictably the first ones to get trashed when the storm hits.
I am not sure the keys are any different than the first quarter mile from the beach for all the gulf/atlantic seaboard states…Are we going to lose insurance for this entire area?
You will not find a quarter-mile distance from the water anywhere in The Keys.
Most of the mangrove islands are not more than 200-300 yards wide. Some are much less than that.
Homes in The Keys rest on unconsolidated sand, shells and coral. There is no bedrock on which to base a deep and firm foundation. Most older homes are wooden frame; newer homes are of cinderblock or manufactured.
In the Great 1928 Hurricane, Flaglers railroad was wiped out and thousands of people were washed away and never found.
Anyone would have to be a fool to build more than a stick-shack type temporary home in The Keys; and should financially be able to deal with the eventual loss of property to hurricanes and windstorms.
If I were to build there I would own the land outright and put up a small stilt house. Screw the insurance payments. If you can’t afford to lose your vacation home, you don’t need to be building down there…..
Isn’t this what cracker architecture was all about? Cottages and buildings of white or pastel painted cyprus (which becomes harder and harder with age) held together with wooden pegs (not nails), and with tin roofs that sounded wonderful in rain storms? It was this construction that made Key West so charming, not the new junk that looks like everything everywhere else.
Key West was beautiful till about ten years ago when developers moved in and destroyed it with 50 huge chain “t-shirt” shops (all apparently Israeli fronts for something) on Duval Street, and condos everwhere, even on former salt marshes. This despite local and state laws prohibiting such development. Just goes to show what a banana republic Florida is, and how corruption and money control Key West politicians.
‘50 huge chain “t-shirt” shops (all apparently Israeli fronts for something’)
That blows me away! I lived on a barrier island in Texas for years and there were a dozen enormous T-shirt shops owned by one group of israeli’s. When I went in they wouldn’t even wait on me and had no desire to sell the crappy merchandise. The T-shirts had a half inch of dust on them. Yet they all drove new black mercedes. Everyone privately discussed they must have been money laundering.
That’s what we thought about the shops in Key West. All the local t-shirt shops went under, while these 50 huge stores thrived, though nobody was ever seen actually buying any of their t-shirts (which sold for $5 or less). We thought gun-running, too, or possibly fronts for drug organizations. The employees WERE Israelis. These fake stores ruined Key West and put lots of people out of business, and nobody could explain where the money was coming from. Given the cost of real estate on Duval Street, just one of those shops must run into the millions, and the Israelis came in with 50+ shops at one time.
So where’s the U.S. government in all of this?
Sounds like a carbon copy. 90% of the employees were not only israeli, but most were related. I used to wonder why they didn’t attract law enforcement as this was near Mexico and the DEA, etc. were all over the place.
Hi Ben. Surely, the government must be aware of this. These people are obviously NOT selling t-shirts, and the money is coming from somewhere. But, where? There are a lot of locals in Key West who would like to know.
It’s very unfair to small businesses to have things like this come in and drive them out, especially when these shops are patently fronts.
I have been here in the keys for over 5 years. I love it. Im in a two story condo about 40 feet from the Atlantic Gulf side. With all of the storms since I have been here. I only had one problem. The people leaving empty out the ATMS. Havent lost power once. We are not connected to the mainland. They lost power in some places for two months last season. The last storm flooded some homes on the bay side. But other than that. I would rather be here then Miami.
Read about Global Warming.
It’s obvious now that the Florida coast can no longer afford to insure itself being that there is no “reasonable” policy for multiple hurricane hits in a compressed time period. Owners simply forgot that you build TO BE ABLE TO REBUILD ANOTHER DAY. The message was always “no more than 800 sq feet” and put it up high on stilts. Never underestimate the ignorance, arrogance or stupidity of people.
Read about BIRD FLU HITS TRAILER PARK IN FLORIDA.
For all you that are going on and on about hurricanes and the resultant rising insurance prices bringing the end to the party in FL, you’re way off track. This won’t happen because:
a. FL has this wonderful plan to grant homeowners “relief” by sending them a check for $140 (yes I didn’t miss a zero) Story here:
http://tinyurl.com/o5rtl
b. Hurricanes are NOT going to cause a crash in South Fl market. If anything causes a crash, it will be the media. See here:
http://tinyurl.com/qzv6p
and here:
http://tinyurl.com/ntgfn
//end sarcasm
I went to a couple open houses here in Boynton Beach (PBC) and we were 1 of 2 couples that looked at this one house all weekend!! BRING ON THE MADNESS!!!
I spoke with a co-worker today that lives in Bradenton that said her neighbor put her house up for sale 6 months ago (For Sale by Owner) at $375k. They had one offer at $325k and they turned it down. Well, they finally had to get a Realtor and the agent said they had to price under $300k in this market. Well, it’s now at $280k and not a single person has even looked at it. I have seen quite a few 20-30% reductions in price with still no buyers in the Sarasota-Bradenton area. Oh yeah, and inventory of houses in the $300k-$400k range has gone from 225 in 7/05 to 1846 as of 5/3/06. But no need to worry, I hear the herd of boomers are on I-95 south ready to buy up all these vacant houses in FL!!!
Check out this listing price history for a brand-new Cape Canaveral condo. Asking price down by a third in less than 4 months. The first wave of forfeited deposits has just begun. It’s going to get really ugly in the high-end condo market later this year. Many under-construction complexes are almost entirely “investor” owned. Closings are approaching and the panic is palpable.
01/16/06 - $222,500
01/25/06 - $210,000
03/03/06 - $189,900
03/28/06 - $179,000
04/06/06 - $175,000
04/09/06 - $169,000
04/17/06 - $164,900
04/24/06 - $152,900
05/05/06 - $148,000