Strategies of the Condo Vultures®

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Real Estate Broker/Owner - Condo Vultures® LLC

ARCHIVED BLOG POSTS

2009 

Regulators shut two more banks - one in Nevada and another in Illinois - on Friday, increasing the total number of failed institutions to 10 for the month of February and 16 for the year.Security Savings Bank in Greater Las Vegas with assets of $238 million and Heritage Community Bank outside of ...
02/28/2009
A pair of veteran Miami real estate investors obtained a 145-unit apartment complex near the popular Dadeland Mall in Kendall with development rights for more than 700 new units in an all-cash deal that works out to a more than 60 percent discount.Les Chalet Investments LLC, with Tomas Cabrerizo ...
02/27/2009
Buyers are scurrying to purchase resale single-family houses, condominium units, and townhouses in the tri-county South Florida region of Miami-Dade, Broward, and Palm Beach counties despite the lack of financing available in the market, according to a new report from Condo Vultures® LLC.Pending ...
02/23/2009
The site of the proposed 68-story Paramount Park condominium tower in Downtown Miami is being foreclosed by a Kansas lender that is owed $21.2 million, according to Miami-Dade County Clerk of the Court records.Hillcrest Bank in Overland Park, Kan., has filed a Lis Pendens action - the first step ...
02/18/2009
South Florida experienced a 5.2 percent jump in pending sales during the last week as the tri-county region's available inventory for resale continues to decrease, according to a new report from Condo Vultures® LLC.As of Feb. 16, buyers had 11,012 single-family houses, condominium units, and town...
02/17/2009
A European bulk buyer has purchased 141 units in the troubled Whitney condominium for $24 million, or a 45 percent discount off of the existing $43.9 million loan amount, according to the Palm Beach Daily Business Review.ABG Sundall Collier, a publicly traded Scandanavian investment firm based in...
02/15/2009
Regulators seized four banks with combined assets of $1.01 billion and deposits of $808 million in Florida, Illinois, Nebraska, and Oregon on Friday, Feb. 13, in moves that will generate estimated losses of $341 million for the Federal Deposit Insurance Corp.This latest round of bank failures is ...
02/14/2009
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...
02/11/2009
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...
02/10/2009
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...
02/09/2009
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