It has to do with them going into short sales and foreclosures. Most were bought when everyone was going with adjustable rate mortgages. They are unable to refinance since the home is now worth less than they owe. Once their interest rate starts going up the home quickly cannot be afforded anymore.

If you would like to see what is available for sale in this neighborhood or any area, feel free to visit our Wimauma Real Estate site by clicking on the link below.

Thanks,
Linda Reynolds
Reynolds Realty of Manatee