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Yes, inquiring minds want to know... What's wrong with this picture? The Clearwater Real Estate market, like many in the country I'm afraid, is distressed right now. Houses have fallen in value seemingly overnight. This house, a nice house indeed, went to auction! I am seeing this over and over in this area. What went wrong? How does this happen?
The recently ended (crashed) real estate gold rush was fueled by greedy, unscrupulous people who went crazy in an environment of easy money, loose controls, and rising home prices. The end result was LOTS of people setup with mortgages that they could not afford, based on UNsupportable real estate prices, praying that the market would continue to balloon out of control so they could refinance the albatross around their neck. Welcome to Life in the Time of Foreclosure.
If you would like to see more of this area, check out Dunedin Daily Photo, and Clearwater Beach Daily Photo. If you enjoy photography, check out my photography blog. Thanks for coming today, I hope you enjoyed your mini-vacation to Clearwater, Florida!