Thursday, July 07, 2011 4:08:59 PM
I have friends in Florida and have seen this company. I was interested to find out that it is a penny stock.
Florida real estate is in real trouble - even compared to the rest of America. Most of my friends (I am a commercial appraiser / developer by trade - as are my friends) tell me that the market is 10-20 years before absorption meets market. With what I know about Florida real estate - this price doesn't surprise me too much - but it sure sounds undervalued based on my quick DD. Look forward to seeing how this one turns out.
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