Ft. Lauderdale, Florida, is known as the "Venice of America," is a city that thrives on tourism. Local real estate agent, David Ditman reports that "about five million guests venture to this area yearly, many flying into the local airport."

But what about the real estate market?

Karen Dove, a local real estate expert for the area, reports that there are plenty of sales at this time. She says that "the proportion of sales in respect to the large inventory makes it appear nothing is selling ... not true. Properly priced listings are going first."

She notes that Ft Lauderdale covers a larger area than just along the beach, with 3700 condos/townhomes on the market at this time.

Other draws to the area? No income or inheritance taxes.

And while real estate prices in Florida have "definitely been reduced between 15% and 20%," according to local Realtor Vilmar Pires, the market remains healthy.