
Homes are again selling in the state after a few years hiatus. I kind of have a sneaky feeling that it might have to do with the value of these homes being about 50% drop in the sales prices. Cash sale for homes in central Florida accounted for over 50% of sales in February. This is partially due to some real estate products being difficult to finance and partially due to some consumers becoming more frugal and not wanting to take on new debt.There is a new TARP fund that is to begin April 15, 2010 under the new guidelines Lenders will be required to Preset Short Sale acceptable pricing Before a home is listed for sale and will be required to accept an offer above the stated price.I still think that Distress Sales will remain active through 2010 and beyond as many homeowners elect to leave their properties that are worth substantially less than their outstanding mortgage debt.