Florida - and the whole country
An area of several newer subdivisions sold for the mid- $300,000's and up for single-family homes about 5 -7 years ago. Condos and townhomes sold from 180,000. Homes were selling like hotcakes.
Recent sales in the area run from $88,000 for a condominium to $350,000 for a single family. There are 145 short-sales/pre-foreclosures/foreclosures in the area and 33 homes/condos that are not (short-sales, etc.)
Most have been on the market for over a year and range from $90,000-125,000.
I'm not putting in the name of the subdivisions; I think they have enough problems as it is.
Isn't there anything anyone can do or suggest as a way to help the housing market and the people losing their homes. This is a very sad commentary on the ways things are in this country.
This is just one small area that I was looking up for a friend but there must be hundreds of these all over the country: subdivisions that were built on the cusp of the down-turn. Families who were thrilled to be buying their dream homes have lost everything and no-one does anything about it. It's becoming the norm; just pack up and leave the dream.
People (customers, friends) ask me how much longer will it continue? No-one seems to know. I sure don't.
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