Treasure Coast, Palm Beach sellers slash prices

As the housing slump continues, homeowners on the Treasure Coast and in Palm Beach County are being forced to cut prices as their homes stay on the market longer. Following a short period of denial where sellers refused to drop prices, some homes in the region are seeing 20 and 30 percent drops in price from 2005. One brokerage is implementing a marketing blitz to try and boost sales, with longer-than-usual open houses and price cuts in homes ranging from a 4 percent drop to as much as 25 percent.