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.