Lee County, FL. Property Values:Lee County, FL.2007: $96.4 Billion2008: $84.5 Billion2009: $63.5 Billion2008-2009 % Change: -24.8%Cape Coral, FL2007: $21 Billion2008: $15.7 Billion2009: $10.4 Billion2008-2009 % Change: -33.5%Lehigh Acres, FL2007: $7.19 Billion2008: $6.362009: $3.372008-2009% Change: -46.9%Fort Myers, FL2007: $7 Billion2008: $6.8 Billion2009: $5.2 Billion2008-2009 % Change: -23.4Local Unemployment Rate in Lee County, FL. in May 2009 was 12.4%How crazy are these numbers? What goes up, must come down right? The local real estate market is actually turning before our eyes into a sellers market due to the affordability returning to the market. The only contributing factor I see for this is the moratoriums.Media outlets and so called "Experts" (no one at the Fort Myers News-Press has ever been confused with being an expert) all are hyping the fact that properties are getting multiple offers and bidding wars are back again. Buy Now, Buy Now they all scream. Most of the hype is right, or is it?Fannie Mae alone, has more assets that haven't hit the market then Obama has ideas on ways to raise taxes on everyone. If anyone knows about the Elliot Wave, could this be the False Bounce? Is NOW THE TIME TO BUY or is that just a catchy slogan by the local real estate board who is trying to keep members from leaving the industry and taking their annual dues with them?