No Subprime Fallout In Destin Real Estate Market

Fall out from the national real estate slow down as a result of the subprime mortgage crisis isn't being felt in the Destin, Florida real estate market, according to mortgage experts. The subprime loan market, which caters to those with damaged credit never made its way into the Gulf Coast's top vacation resort market. The subprime crisis is being blamed for a slow down in the national housing market and a record high number of foreclosures. However, there are only about a dozen foreclosures listed for sale in Destin, which is fairly normal for the marketplace. Subprime loans represent just 13% of the national mortgage market, according to the U.S. Bankers Association. An estimated 60% of homes and condos sold in Destin are free and

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