Right now, FL has a huge supply, townhomes & condos are especially cheap (at least in the Jacksonville area) However, the market is pretty stagnant right now due to the mess that the banks are in so they are taking things pretty slow and making certain their paperwork is correct prior to foreclosure. I do alot of work for BAC and last year was doing anywhere from 60-80 a month, January I only did 52 and this month, so far, I have only done 21 (by that I mean put a price on their foreclosure/pre-foreclosure properties). Once the banks get all their paper work straightened out and find all the loopholes, there will be another round of foreclosures and another drop in property values before pricing begins to climb back out of the hole. Just to give you an idea, 1 home I did started out at 1.2 mil, the first time I priced it it went to 750, 2nd time 500, finally sold for 350, this home was the model home for a large golf club community and the parade of homes winner in 2005. Additionally, right now you can get a 3/2 condo for about 60-70,000 and a 1 or 2/2 for about 30,000, in some cases even less, there are numerous homes/condos/townhomes on the market here under the $30000 mark, just did a quadraprex that ran under $30,000, yes that right, under 30. Of course it needed a little help, but hell, 4 units! On top of that, if you have cash, the banks are really willing to deal to get it off of their books. And if you are worried about hurricanes, don't, this area hasn't been affected by a hurricane since Dora in the 60s and even then it wasn't much more than a good storm because of Jacksonville's physical location, storms generally cross the ocean to hit the Carolinas.