The Miami Herald reports from Florida. “Home prices in South Florida sank by double-digit percentages in January, posting some of the steepest declines since the housing market slowdown began more than a year ago. The number of single-family homes sold fell 48 percent in Miami-Dade, while the number of homes listed on the market increased 45 percent over the year before. In Broward, sales slumped 33 percent over last year, while inventory grew 18 percent.”

“The dearth of buyers forced seller Mari Redondo to mark down her Virginia Gardens home $70,000 over the last seven months. She is now asking $330,000 for the four-bedroom — just enough to pay off her mortgage. ‘It’s been horrible. The only thing I see is people renting because they can’t afford,’ Redondo said, ‘In about a month, I might put it up for rent.’”

“In January, lenders took back 641 properties in Miami-Dade from borrowers in foreclosure. ‘You are having to compete against properties that are $50,000 to $100,000 less than yours is. So, you don’t have a good chance of selling before they do,’ said Dee Del Castillo, a real estate agent who focuses on Southwest Miami-Dade County.”

“Her phone finally started ringing in January from potential buyers. All, she said, had asked to see bank-owned homes or foreclosures.”

The Sun Sentinel. “When Ellen Levy moved to the Carriage Pointe townhouse development in Boynton Beach two years ago, she thought it would be a vibrant, stable neighborhood. Instead, the community has turned transient. Four of the 158 homes are in foreclosure stages and roughly a third have liens imposed by the homeowners association for not paying their monthly dues.”

“Carriage Pointe’s homeowners group doesn’t have sufficient income to …

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