Saturday, November 13, 2010

THE BAD NEWS... MAYBE THE GOOD NEWS WILL SOON COME OUR WAY


ZILLOW REPORTS ALMOST HALF OF ALL SEPTEMBER SALES IN SOUTH FLORIDA SOLD FOR A LOSS.
 The tri-county area has a 42% rate of underwater mortgages for single family homes.  Home values have fallen since the 2006 peak by 53% with price levels what they were in July 2002.  In October foreclosures increased with one in every 155 Florida housing units receiving a foreclosure filing, 2nd   behind California and 17% of all US foreclosures.

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