Comments on: Florida has a 5-year Condo Glut http://blownmortgage.com/2008/04/17/florida-has-a-5-year-condo-glut/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sat, 21 Nov 2009 12:13:18 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: ann http://blownmortgage.com/2008/04/17/florida-has-a-5-year-condo-glut/comment-page-1/#comment-12890 ann Sat, 19 Apr 2008 00:53:17 +0000 http://blownmortgage.com/?p=995#comment-12890 Morgan..the single family home area is not better..coming in at a 3.5 year level of inventory...Amazingly..I keep checking on homes in that area..price drops are scary..05 house sold for $1.2 now a foreclosure at $599K(and still no buyer!). And those kinds of stories are all over the Florida market..and lets not forget that surrounding those kinds of homes are tons and tons of HELCO that were done based on that comp of 05....and since it is still considered a "declining" market..I expect a even great surge in foreclosures and more borrowers choosing to "walk away."<br><br>So many broker shops in the South Florida market have closed up..try to do a refi/loan in that market! Morgan..the single family home area is not better..coming in at a 3.5 year level of inventory…Amazingly..I keep checking on homes in that area..price drops are scary..05 house sold for $1.2 now a foreclosure at $599K(and still no buyer!). And those kinds of stories are all over the Florida market..and lets not forget that surrounding those kinds of homes are tons and tons of HELCO that were done based on that comp of 05….and since it is still considered a “declining” market..I expect a even great surge in foreclosures and more borrowers choosing to “walk away.”

So many broker shops in the South Florida market have closed up..try to do a refi/loan in that market!

]]> By: Landflip http://blownmortgage.com/2008/04/17/florida-has-a-5-year-condo-glut/comment-page-1/#comment-12889 Landflip Fri, 18 Apr 2008 16:10:04 +0000 http://blownmortgage.com/?p=995#comment-12889 You are right...it is definitely a buyers market. I think there are going to be more and more second homes and so called investments for sale over the next several months. However, it's hard to predict when these investments will show a return. You might have to sit on them for ten years. You are right…it is definitely a buyers market. I think there are going to be more and more second homes and so called investments for sale over the next several months. However, it's hard to predict when these investments will show a return. You might have to sit on them for ten years.

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