Strategies of the Condo Vultures®

A South Florida opportunity fund received a 31 percent discount in purchasing an undeveloped oceanfront commercial property that had been the site of a proposed ultra-luxury condominium tower in Sunny Isles Beach, which is located in Northeast Miami-Dade County.The newly created R.K. Land Holding...

As federal regulators attempt to sell off assets from the failed IndyMac Bank, the number of bank-owned properties in South Florida has spiked by 228 percent in the second quarter of 2008, according to a new report from Condo Vultures® LLC.Nearly 7,100 South Florida properties were repossessed by...

Nearly 8,400 South Florida condominium units valued at $1.7 billion in loans entered into foreclosure proceedings in the first half of 2008, with more than half of the properties located in Greater Fort Lauderdale, according to a new report from Condo Vultures® LLC.Broward County, where Fort Laud...

If three really is a trend, it looks like federal banking regulators are ready to clean up the U.S. mortgage mess after shutting down a third institution in two months.Federal banking regulators seized the $32 billion in assets California-based IndyMac Bank on Friday afternoon and are working thr...

This July not only marks the start of the third quarter of the year but an increasing debate amongst industry watchers about when the bottom of the Miami real estate market will be reached. In Florida where residential sales peaked in November 2005, the real estate market has struggled ever since...

Condo resales in the South Florida region and the state as whole increased by volume in May for the fourth consecutive month while median sales prices in the region fell slightly, according to a Condo Vultures® LLC analysis of industry data.South Florida experienced 1,714 closed resales of condom...

Countrywide Financial Corp, the nation's largest home lender, is actively trying to unload 1,600 Real Estate Owned (REO) properties in Florida, including 559 in South Florida, at as much as a 40 percent discount, according to a bank source.Countrywide needs to dump 252 properties in Miami-Dade Co...

The number of condominium units in the 60-block stretch of Greater Downtown Miami has nearly tripled to more than 34,000 units since 2003, according to the Condo Vultures® Official Condo Buyers Guide to MiamiTM. Research by Condo Vultures® has concluded that from 1963 to 2002, developers construc...

Concerned that the U.S. dollar may be at its weakest point, a London-based asset management group is creating a $1 billion fund to accumulate distressed Florida properties, according to the Miami Herald.Strategic Real Estate Advisors, an equity investor in London's Heron Tower development, has cr...

Nearly 400 South Florida condominiums, townhouses, and single-family houses in the Vultures DatabaseTM have been cut in price to $150,000 or less, with the cheapest residence slashed to $31,000, according to a June study from Condo Vultures® LLC. The under-$150,000 properties in the Vultures Data...