Barbara Corcoran Sites Fort Lauderdale Among 6 Scariest Markets

Barbara Corcoran was on the Today Show last week and sited Fort Lauderdale as one of the top 6 scariest markets.Here is what she says:

Fort Lauderdale, Fla.
One in 73 homes is in foreclosure in Fort Lauderdale, about twice as many as this time last year. The median home price is $345,900, down 5.7 percent from last year. Unemployment is slightly below the national average at 4.3 percent.

There are some factors here that are keeping prospective buyers on the fence. One reason is that there's too much candy on the shelf. Between standard listings, foreclosures and short sales, there is entirely too much product from which to choose. Media reports predicting that real estate hasn’t neared bottom yet encourage buyers to try to time the market. Sellers reluctant to come down to reality are still holding on to peak market prices. But brokers say buyer confidence here is improving and that they’re seeing increased activity over the past six months as people realize they have a terrific opportunity to get a great value in a home in the current market.