Florida Real Estate For Sale

Sales for South Florida homes being sold by the government are picking up in the current Recession.

The government and 2 government-sponsored companies are selling property, at fire-sale prices 10 - 20 percent below market value.  The properties include everything from waterside mansions to burned-out house shells.

The large number of foreclosed properties in distressed areas such as South Florida has forced the government, along with Fannie Mae and Freddie Mac, to become sellers of homes and buildings to get rid of a large inventory of empty houses.

The FDIC, an agency set up during the Great Depression to protect depositors from bank failures, has sold over 1700 properties across the U.S. in the first 9 months of 2009, more than any year since 1996.

Fannie Mae and Freddie Mac are companies created by Congress to facilitate lending and keep credit flowing to homeowners and buyers.  Together the two agencies have sold over 138,000 homes nationwide during the first nine months of 2009, more than double the number during the same period in 2008.

Fannie Mae has over 4,300 homes currently listed for sale in Florida -- 568 of them in Broward County, 267 in Miami-Dade County and 190 in Palm Beach County. To help keep homes occupied, Fannie Mae launched a program in November that allows owners who can't pay the mortgage to pay rent in order to stay in the home.

Many South Florida homeowners haved welcomed the Government's attempt to fill the empty homes in neighborhoods facing  deterioration and lowered property values.

Many Real estate analysts have said the government initiatives will help individuals and jolt the housing market but will not provide long term solutions to South Florida's housing problems.

If you are looking to buy real estate in Florida, no is a great time to do it.