Friday, October 30, 2009

Reality...from a supporter's e-mail:

This is my little rental property in Lake Worth, with a cemetery in the back yard. Because of all the vacant [for sale] condos here, rents have plunged by 20-30%.

Subject: The Recession Hits Home | What's your property worth? | PalmBeachPost.com

http://projects.palmbeachpost.com/homevalues/view/38434428050000260/

Taxes are oppressive and electricity is 30% higher than F.P. & L. since the City owns the Utility. Code enforcement requires annual inspections @ $184.00 each apartment.

Just had two sales in Lake Worth as follows:

1. Original price Dec. 1989 $160,000. Sale price July 2009 $102,000. 905 S. Ridge Street, Lake Osborne Park, Lake Worth 33460 SF-1,250

2. Original price April 2006 $175,000. Sale price July 2009 $19,500. 1502 S Federal Hwy, Saga Apts Condominium CO-840