Indian River Blog

Vero Beach, FL - Home sellers continue to hear bad news as the mortgage marketplace has concerns of an upcoming credit crunch. Today it was revealed by some sources that other home owners were also having trouble making their mortgage payments with as many as 5% of all homeowners are more than 60 days in arrears. Now, according to this blog, Fannie Mae is taking action just as oil prices are falling, well at least there’s some good news.

According to the Fort Pierce Tribune, “Two of Vero Beach’s largest hotels have been sold for $14.43 million to South Florida real estate developers that specialize in hotel management. ” Read more here

Built in 1956 and across from The Driftwood Resort, this commercial property is being offered at $5.2 million. Read more here

According to an article in the Palm Beach Post, “The number of unsold homes on the market from Boca Raton to Vero Beach has been steadily rising, surging to a record 24,028 homes for sale in March, according to Illustrated Properties Real Estate.” Where the market goes from here, who knows. Read more here

Sebastian-Vero Beach claimed the 18th spot for small cities and 29th overall. Click for more

According to TCPalm.com: In Vero Beach, 132 existing single-family homes sold in January, down from 168 units last year. Prices dropped to $214,894, down from $245,000 last March. Read more

From MSNBC.com - Sales of existing homes plunged in March by the largest amount in 18 years, reflecting in part rising troubles in the subprime mortgage market. Read More

Vero Beach is home to high priced real estate according to this article.