Strategies of the Condo Vultures®

Greater Orlando has nearly 156,000 vacant residential lots sitting idle in central Florida due to the state's dramatic housing crash.Many of the 155,835 vacant lots are located in partially completed new subdivisions in the Central Florida counties of Orange, Osceola, Seminole, Volusia and Lake, ...

All foreclosures initiated by Florida banks have been halted for the next 45 days under an agreement reached between the state's financial industry and the state's Gov. Charlie Crist. The statewide initiative will pertain to new foreclosure actions, not the 444,000 property owners who already are...

South Florida's number of active residential listings decreased by -1 percent on a week-over-week basis to 106,420 condos, townhouses, and single-family houses, while the number of pending sales increased 1 percent to 9,393 properties on Dec. 1, according to a new report from Condo Vultures® Real...

Florida homeowners falling behind on their mortgage payments in a downward spiraling economy may get a reprieve from the governor - at least for the short term.Florida Gov. Charlie Crist is contemplating an executive order that would impose a temporary moratorium on all foreclosures in the state ...

South Florida has a combined 107,527 condos, townhouses, and single-family houses for sale and an additional 9,302 residences under contract as of Nov. 24 in Miami-Dade, Broward, and Palm Beach counties, according to a new report from Condo Vultures® Realty LLC.Miami-Dade, the most populated coun...

Developers have successfully sold out 19 new condominium towers with 3,085 units in the Greater Downtown Miami area since 2003, according to a new report from Condo Vultures® LLC. Units in the sold out buildings closed at an average price of $424,923 and generated a total of $1.3 billion in compl...

BankUnited, the largest bank headquartered in Florida based on assets of $14.2 billion, lost $261.6 million in the fourth fiscal quarter ending Sept. 30, putting the thrift in "dire financial straits," according to the South Florida Business Journal.The fourth quarter loss, due in large part to n...

As the U.S. financial crisis deepens, regulators have seized two more financial institutions with combined assets of $6.2 billion and deposits of $4.2 billion, pushing the total number of bank failures this year to 19.Franklin Bank, a Houston-based institution established in 1987 with assets of $...

A South Florida developer sold 33 new condo units, including 17 units to one buyer, for 46 cents on the retail dollar at a private auction on Nov. 17 in West Palm Beach, according to the Palm Beach Post.The total sellout price of Saturday's 90-minute auction was $6.3 million for Downtown West Pal...

Considering the nearly $700 million in foreclosure exposure that Citigroup has in South Florida alone, it is not hard to understand why the New York financial giant just introduced a new Homeowner Assistance Program to keep borrowers in their homes.Citigroup and its subsidiaries have filed 2,742 ...