Even the high-end properties are falling victim to the housing downturn.
The Sun-Sentinel reports, "Even sellers of high-end properties are struggling to find buyers during South Florida's housing downturn.Nestler Poletto Sotheby's International Realty of Boca Raton and Miami-based Sol Sotheby's International Realty said Monday they will hold a luxury home auction for Palm Beach, Broward and Miami-Dade counties on March 28.More than $200 million in properties will be for sale, and some of them will go to the highest bidder, regardless of price. Frustrated by the glut of homes for sale, more sellers are choosing auctions as a way to unload their homes. The March 28 event will be at the Bahia Mar Beach Resort, 801 Seabreeze Blvd. in Fort Lauderdale. It will feature large-screen videos and gourmet beverages and hors d'oeuvres."
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