The truth hurts, but it is still the truth, and this truth, these facts, are what we all need to make sound --- and often difficult --- decisions about the buying and selling of real estate.
In Florida, the Cape Coral-Ft. Myers area is ranked highest in the nation for foreclosures, alongside Las Vegas and Merced, California. Within the top ten cities highest in foreclosures were Phoenix and again, Florida's Port St. Lucie.
Brace yourself: the number of Americans threatened with losing their homes rose 24% in January, February, and March of this year. Lenders are taking a temporary break, but are expected to restart another cycle of new foreclosures, causing a further rise in the number of distressed properties.
On the bright side, literally, we are still the Sunshine State. Florida is surrounded by both the beautiful Gulf of Mexico on our west coast, and we overlook the vast Atlantic Ocean on the east coast.
The Buyers will be coming to Florida, just as soon as they can sell their properties. What Buyers and Sellers are experiencing right now --- Homeowners too --- is not pretty. It's painful...but it's our current reality.
Posts
