Strategies of the Condo Vultures®

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Real Estate Broker/Owner - Condo Vultures® LLC

ARCHIVED BLOG POSTS

2008 

Hedge funds, private equity groups, and pension funds are actively seeking and beginning to purchase problem mortgages in bulk from investment banks and lenders that are desperate to clean up their portfolios, according to the Palm Beach Post.For example, Lone Star Funds, a Dallas-based opportuni...
07/31/2008
A Miami-based bank with six locations and $613 million in assets is on the watch list of federal regulators due to the institution's deteriorating balance sheet, according to the Miami Herald.Republic Federal Bank in Miami has been slapped with a formal reprimand by the Office of the Comptroller ...
07/30/2008
A Florida-based bank with seven South Florida locations and assets of $606 million is being closely monitored by banking regulators, a veteran investment banker told the Sarasota Herald-Tribune.Peninsula Bank in Englewood, Fla., on the state's Gulf of Mexico coast is under regulatory scrutiny due...
07/29/2008
Discounts in the Vultures DatabaseTM fell to an average of -29 percent on condominiums, townhouses, and single-family houses located in coastal South Florida through June 30, representing a -1 percentage point drop from the -28 percent average price reduction the previous month, according to a ne...
07/28/2008
Federal regulators were busy in three states on Friday afternoon shutting down two banks with $4.6 billion in assets and 28 locations in the distressed real estate markets of Arizona, California, and Nevada.Regulators seized the First National Bank Holding Co. in Scottsdale, Ariz, the parent comp...
07/27/2008
Buyers have closed on slightly more than half of the new condominium units built and delivered in Greater Downtown Miami since 2003, according to a new report from Condo Vultures® LLC.Extensive research comparing Miami-Dade County records with the Condo Vultures® Official Condo Buyers Guide To Mi...
07/21/2008
Rudy Giuliani, the former New York City mayor and presidential candidate, plans to launch an opportunity fund with as much of $750 million to buy distressed properties, according to the New York Times.Giuliani of New York City is partnering up with Berman Enterprises from suburban Washington, D.C...
07/20/2008
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...
07/19/2008
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...
07/16/2008
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...
07/14/2008
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