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there are hardly any buyers too
my partner's condo in Florida has a preliminary 2011 appraisal value by the county that's $10k lower than last year's. And in 2009 they dropped it by 100% from what it was in 2008!
My neighbors on one side bought theirs in 2009 for $500 above what previous owner paid in 2003, they're now ~120% under water. Neighbor on the other side would have to wait for the prices to go up 2x to come even close to what he paid for his minus any work and upgrades he put in
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