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Pasco Economic Summit To Fall On Friday The 13th

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By Carl  Orth | The Suncoast News

Published: March 10, 2009

Updated:

NEW PORT RICHEY - Friday the 13th certainly seems to be an appropriate date to share scary stories about the downtrodden economy.

Yet local business leaders hope the Pasco Economic Summit, slated for Friday, March 13, will begin to dispel some of the financial gloom with ideas to spur a recovery here.

The good news is that sales of existing homes in the area are going up, according to Greg Armstrong, owner of Coldwell Banker F.I. Grey & Son Residential who is one of the organizers for the summit.

The bad news is that home prices fell another 18 percent over the past three months, Armstrong pointed out in a phone interview.

"We are facing the most difficult economic times in most of our lives and we must seek every avenue to create jobs and put our citizens back to work," Armstrong wrote in an invitation.

Sales of homes west of Suncoast Parkway have gained for six straight months, Armstrong added. "That's more than a blip on the radar screen."

The Pasco economy might be close to touching bottom, Armstrong speculates. Affordability of homes today matches the affordability index of early 2006, he noted.

Yet Armstrong isn't sure home prices will stabilize until the rate of foreclosures slows significantly. Some of the summit speakers will share the latest updates about federal stimulus money for Pasco, he said.

After presentations, summit hosts will open the floor for comments. "We're going to go around the room," Armstrong said, to let people express their ideas.

Some 50 people have signed up so far for the forum, Armstrong reports. He expects about 80 attendees by next week. Invitations have gone out to state and national leaders.

West Pasco Board of Realtors, 5409 Sunset Road in New Port Richey, will serve as the host for the summit. The Pasco Council of Chambers is co-sponsoring the forum.

The public is invited to the event, which will take place from 8:30 a.m. until noon. Refreshments will be provided.

To register, send an e-mail to Armstrong at greg@figrey.com. For information, call Armstrong at 727-495-2424.

"This is not a forum to complain, but rather to find answers," Armstrong continued. "We are gathering because we must help ourselves and we must do so sooner rather than later."

Carl Orth can be reached at 727-815-1068 or corth@suncoastnews.com.

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