Lower-Priced Home Sales Spark Optimism

A single mom saddled with a hefty mortgage of $1200 a month, Susan Perry put her three-bedroom home on the real estate market in Miami knowing it was going to be a tough sell, or so she thought.

Perry and her ex initially listed the home in south Miami-Dade County at $315,000 earlier this year, but were forced to lower it to $250,000 when no one stopped to take a peek. When the price changed, so did buyer interest. After two failed contracts, Perry finally sold her home for the asking price to a couple that a bank was wiling to finance.