Foreclosures vandalized by exiting owners

In our Florida townhome community, everything within the home and the A/C unit is the property of the homeowner. Fortunately, we've only had one home that was literally stripped of everything in the unit, including the cabinetry and the A/C unit. Nothing the Association could do about it or should have done about it because it wasn't our responsibility. The individual that purchased the unit once it was sold by the mortgage company, was responsible for replacing everything.

The sad part is by vandalizing the townhomes it brings down the market value, the comps are lower, appraisers look at the market value for resale in the community. How do we ever get out of this hole? Are there any resources out there to help us recover and gain a foothold in the marketplace. BellaM2 Florida

These townhomes are all 3 Beds. 2.5 Bths, I certainly can't sell now. I bought for $255,000. now sold for $105,000.-110,000. I came in with 30% down. not unless I do a short sale and destroy my credit. Any thoughts or ideas on this? BellaM2 Florida

Real estate prices everywhere have dropped drastically since 2008. You are in the same boat as all others.

Do you need to sell? If you do not need to sell, then continue to make your mortgage payments and forget about resale values. (That matters only when you are selling.) The market may eventually rise and at some point you may be able to sell without taking a loss.

If you have to get out now (as opposed to just want to), find another home while you still have good credit. Buy it and move in. Instead of making any more mortgage payments on the condo, mail a deed made out to your current lender and kiss them and your credit goodbye.