Locally, I see signs of stabilization in the lower price points of the real estate market here in Jacksonville, Florida.  Many of the $100,000 - $200,000 neighborhoods are now seeing sales in just weeks of putting a home on the market vs half a year, and if the home is in great condition they sometimes sell within a few days!

The higher price points aren't doing as good.  In the $300,000 - $700,000 range, there are homes for sale everywhere and they aren't moving.  I believe we will see continued pricing drops in those price ranges and for quite some time.

Despite the sales volume or price ranges the activity is or is not occurring within, the fact remains that so many of the homes have a much higher mortgage than what they are now worth, and it…

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