Strategies of the Condo Vultures®

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Real Estate Broker/Owner - Condo Vultures® LLC
RECENT BLOG POSTS
A 1.4-acre oceanfront property zoned for a high-rise condo tower in Sunny Isles Beach is scheduled to be auctioned off in the next 60 days to the highest all-cash bidder at the Miami-Dade County Courthouse, according to Condo Vultures.com.A final judgment amount of nearly $26.3 million, or $419 p...
07/08/2009
A Miami Beach company headed by Jorge Mattos has purchased 21 units in the Marina Blue condominium tower in Downtown Miami for $5.69 million in an all-cash deal involving the project's former mezzanine lender, according to a new report from Condo Vultures® LLC.A newly formed Florida corporation c...
07/07/2009
The Related Group, the nation's largest condo tower developer, is attempting in the next two months to finalize plans to return thousands of unsold new units with debt of "roughly $1.5 billion" to the construction lenders, according to Miami news reports.The admission comes just as the Related Gr...
07/03/2009
The pace of new condo closings in Greater Downtown Miami slowed by half in the second quarter of 2009 to 2.7 sales per day, down from an average of 5.2 per deals day in the first quarter of the year, according to a new report from Condo Vultures® LLC.Buyers purchased 246 units in the 60-block str...
07/01/2009
Nearly 900 residences in the Vultures DatabaseTM have closed in the first five months of 2009 at an average discount of $357,500, or nearly 54 percent, a dramatic change from the average price reductions of 44 percent in 2008 and 29 percent in 2007, according to a new report from Condo Vultures® ...
06/30/2009
Resale residential inventory in the Greater Fort Lauderdale area is shrinking at a faster rate than is the case for the South Florida region, according to a new report from Condo Vultures® LLC.Resale inventory in Broward County, where Fort Lauderdale, Hollywood, and Pompano Beach are located, is ...
06/29/2009
BY WILLIAM BETANCOURTThere were a total of 83,445 residences listed for sale in South Florida as of June 12th, 2009. Of that, 25,814, or 31 percent are in some stage of the short sale process, according to a new report based on the Condo Vultures® Foreclosure DatabaseTM."The month of May proved t...
06/27/2009
BY JIM FREERSpecial CorrespondentCondoVultures.comIt's not just bankers who will determine when the residential and commercial real estate markets will begin a rebound in Florida and around the country.Bank regulators always have major influence on banks' overall strategies, and they have been ta...
06/26/2009
BY ERIK BOJNANSKYSpecial CorrespondentCondoVultures.comEight months ago, hardly anyone knew or cared about Chinese drywall. And eight months later, the full impact of this imported building material that has been blamed for metal corrosion, electrical mishaps and health problems is still unknown,...
06/25/2009
South Florida residential real estate inventory dropped by 1.1 percent in the last week, dragging the total number of resales available down to 81,159 properties, according to a new report from Condo Vultures® LLC.Residential resale inventory slipped by 888 properties between June 15 and June 22 ...
06/24/2009
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Are you capitalizing on the real estate correction? Are you taking advantage of the growing number of short sales, REO properties, and foreclosures? Ready for some assistance? Call 1-800-750-0517.