Categorized | Residential

Florida Homeowners in a Difficult Position Due to Real Estate Market Woes

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Many homeowners in Florida are facing a very difficult reality with respect to the state’s real estate market. As housing prices continue to plummet, those homeowners that are looking to move out of the state are finding themselves stuck with little to no options available.

In many cases, the prices of houses and condominiums have been cut in half over the past few years. Furthermore, it is not even viable to list a house for sale at this point without taking a loss by selling it at an incredible discount. Homeowners in the state are quite disgruntled, particularly those that have already paid their mortgage in full. While those that have struggled to pay their mortgage are getting federal assistance, those that paid their mortgage off are left to fend for themselves in an oversaturated real estate market that favors the buyer more than the seller of a home.

There are few options for those looking to get out of Florida, and none of them at this point are the least bit favorable. Homeowners have the choice of accepting a loss and trying to get whatever money one can get, renting their home or condo to another individual, or continuing to live in Florida with the hopes that the real estate market and the economy in the state improve significantly.

While none of the options are exceptional by any means, they are all that Florida homeowners have, and they are a very accurate representation of the current state of the Real Estate market in Florida.

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About Josh Johnson

Josh is the main writer for the Residential category. He also helps out on other categories when needed, mainly the International section.

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