The Mortgage Bankers Association reported last week that Florida ranked second in the country in failing loans.
And according to The Miami Herald:
In the first three months of the year, the Miami-Dade County Clerk’s office
recorded 11,768 lis pendens filings, which include initial foreclosure filings
but also liens by condo and homeowner associations. It is nearly half the number
filed for the entire year in 2007. In Broward, the number was 10,797.
What this means for us is that housing inventory is going to remain high and home prices are going to continue to fall for the foreseeable future. So if you need to sell your home, don’t wait! Price it ahead of the market curve and get it sold now.