Strategies of the Condo Vultures®

Regulators have closed 34 banks in the United States in the last 13 months, yet somehow only five of the financial institutions to fail have been based in the devastated real estate markets of Florida and Nevada, according to a new report from Condo Vultures® LLC based on FDIC data.Florida has ha...

A New York development group has received final governmental approval to construct a 24-story luxury condominium on a 2.5 acre-site in downtown West Palm Beach that overlooks the Intracoastal Waterway.Trinity Development Group LLC's project, the 84-unit Modern condominium at 1515 S. Flagler Drive...

South Florida's residential real estate inventory dropped for the third consecutive week as the number of pending sales increased during the same period, according to a new report from Condo Vultures® LLC.South Florida has 98,748 single-family houses, condominium units, and townhouses on the mark...

South Florida's housing resale inventory slipped -1.1 percent in the last week to a total of 99,033 residential properties while pending sales in the tri-county region increased 3.6 percent to 10,363 contracts, according to a new report from Condo Vultures® LLC using data from the Florida Associa...

Nearly 2.7 million square feet of condos, townhouses and single-family homes in coastal South Florida sold in 2008 at an average discount of -43 percent, or -$323,784 per residence, according to a new report from Condo Vultures® LLC.There were 1,717 properties east of I-95 in Miami-Dade, Broward,...

Residential real estate resales in South Florida dropped by -4 percent in 2008 to 34,915 transactions compared to 36,366 in 2007, according to a new report from Condo Vultures® LLC using data from the Florida Association of Realtors.The Greater Miami metropolitan area experienced a -19 percent dr...

For the first time in recent memory, the number of single-family houses, condominiums, and townhouses on the resale market in South Florida could drop below 100,000 residences, according to a new report from Condo Vultures® LLC.Simultaneously, the number of pending sales has broken the important ...

Fearing widespread mortgage default on $1.1 trillion of investor-owned properties, JP Morgan Chase has launched a new loan modification program aimed at keeping landlords paying their debt service.JP Morgan Chase's loan modification program - dubbed The Way Forward - piggybacks off the financial ...

Fannie Mae, the public-private mortgage giant bailed out by the U.S. government in 2008, is going into the short-term rental business.Fannie Mae has unveiled a new National REO Rental Policy that now permits renters - regardless of credit score or payment history - to lease homes that have been r...

A South Florida private equity fund has paid $277 per square foot for 101 units in the Related Group's Harbour House oceanfront condominium conversion in wealthy enclave of Bal Harbour, Fla.A Florida entity called HH Condominium Investments LLC, with Thomas F. Daly as president and former Miami B...