By David Eifrig in DailyWealth:

Florida has always been a mecca for retirees. The warm weather and zero state income tax have drawn folks for generations. But during the housing bubble of the 2000s, growth in places like Port St. Lucie spun out of control...

Between 2000 and 2005, the population of Port St. Lucie exploded from 88,769 people to 151,391. Not surprisingly, the median home price shot from $88,700 to about $235,900. Since then, housing prices have collapsed, falling nearly in half to $118,500.

That kind of whiplash price drop always perks up the bargain hunter in me.

Of the 4,035 properties on the local market, 992 were "short sales" (when the bank agrees to let the owner sell the house at less than the outstanding mortgage's value) and 183 were foreclosed properties. Think about it... nearly a third of the sellers are desperate to unload their properties.

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Crux note: Dr. David Eifrig is the editor of Retirement Millionaire... and he's here to help you "steal" back your retirement. Learn more about Retirement Millionaire and getting back what's yours here...

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