”Florida primary forces GOP candidates to face the dreaded housing question” by Michael Fletcher
In northeast Florida’s Flagler County, median prices have plunged from $260,000 in June 2008 to $120,000 now, according to Don “Toby” Tobin, who runs a real estate Web site called GoToby.com. About half of transactions are distress sales — either foreclosures or short sales. In addition, many buyers are using cash, because home mortgages are hard to come by for people with less-than-perfect credit.
“We have seen a tremendous amount of damage, and it is all on the property-owner level,” Tobin said.