The Sarasota Herald Tribune reported today that the foreclosure filings for Sarasota, Manatee and Charlotte counties dropped by 8.4%. That was some positive news. Let's hope the foreclosure filings continue to fall. I don't think the fundamentals have improved so perhaps the drop is just a fluke. Maybe banks are not waiting to proceed with foreclosure filings until they figure out how the bailout plan works out.

The foreclosures have been snowballing and dragging prices down. As prices drop it creates more foreclosures. It is a vicious cycle. Prices in Sarasota have dropped dramatically. We are back to "make sense" pricing. I remember going into properties in 2004 and 2005 and thinking to myself, "you have to be kidding! There is no way this home should be selling for this much!"

I wonder how long we will be in this mess. I'm hopeful that we will see enough stability in the real estate and financial markets to give people some sense of security. Understandingly, people tighten up with so much uncertainty. It just takes time to blow over.

If I can help you find a home in Sarasota, Florida please call me at 941-812-6272.