Perfect Florida Homes

According to mortgage and sales data from Zillow.com, more than four in 10 South Florida homeowners who bought in the last five years owe more on their mortgages than their homes are worth. Some of those frustrated homeowners now wonder if they should default on their loans in order to take advantage of lender programs.

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Amid all of the current uncertainty, its not surprising that home buyers are becoming even more cautious:

The National Association of Realtors (NAR) estimates that there are about 25% fewer people shopping for homes than there normally would be at this time of year. Potential buyers are worried about their jobs, their declining investments and falling housing prices, which is keeping them on the sidelines, according to spokesman Walter Molony.

“You have to have a lot of confidence to make this kind of big-ticket purchase in the current environment,” said Molony.

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