[eweissenbach]

I have looked at homes in TV that were bought in the 2007 area that are now being offered at $50,000 and more under their sales price. I have seen a few foreclosures in TV, but relative to other parts of Florida and the country as a whole, way fewer. A couple of factors IMO - Many people pay cash for their homes here, as they have sold a more expensive home prior to buying here - This is a retirement destination, so most people are not taking job offers with relocation, not losing their job, necessitating a sale, and not looking for an ever bigger home. If they are they can still afford to sell at a loss and move on. The other issue is that while home prices in TV have come down in the last five years, they have not come close to bottoming out like they have in other areas. Also, many of the areas, particularly in Florida, that have experienced huge drops in value, were areas where speculators as well as individuals, had come in and driven up prices on condos and homes, and the developers overbuilt given that demand. When the market dropped they were left with plunging prices, causing foreclosures, and unsold inventory that dropped precipitously in value. Over supply - under demand; has not happened in TV.