Strategies of the Condo Vultures®

Reminiscent of the Savings & Loan crisis of the late 1980s, the U.S. government is considering creating a Resolution Trust Corporation-like entity that could firesale off all of the bad debt accumulated by the nation's banks, according to CNBC.As U.S. Treasury searches for answers following one o...

Bankrupt Wall Street investment bank Lehman Brothers Holdings Inc. and its subsidiaries have nearly $2 billion in commercial real estate loans in Miami and South Florida, according to a new report by Condo Vultures® LLC.Lehman (NYSE: LEH) has 35 outstanding loans in South Florida with 22 loans in...

The U.S. Treasury Department's surprise takeover of Fannie Mae and Freddie Mac appears to be the last of three symbolic steps necessary to signal the psychological bottom of the South Florida real estate market.Expectations are that the Fed's dramatic actions on Sunday, Sept. 7, will inevitably r...

A Las Vegas-based bank with $2 billion in assets has been shut down by banking regulators, marking the 11th U.S. institution to fail in 2008 and the seventh since July 11.Silver State Bank in the Las Vegas suburb of Henderson was seized on Sept. 5 by the Nevada Financial Institutions Division, an...

Loans to a Miami area real estate developer appear to have contributed to regulators seizing the 10th U.S. bank of the year, according to the Miami Herald.Integrity Bank, a $1.1 billion in assets institution based in the suburban Atlanta city of Alpharetta, was shut Friday afternoon, Aug. 29, by ...

Discounts in Miami-Dade County's coastal condominium markets are moving in different directions depending upon which side of Biscayne Bay a particular project is located, according to a new report from Condo Vultures® LLC.As the average discounts in percentage terms and total dollars deepens on M...

Showing no sign of relenting from a strategy to shore up the financial industry, regulators seized their fifth bank since July 11th, and the ninth institution this year as the U.S. housing crisis spreads to the Great Plains. The Columbian Bank and Trust Co., a $752 million in assets institution b...

Reminiscent of the Resolution Trust Corporation's approach of the early 1990s when real estate was liquidated for a fraction of its value, mortgage giant Fannie Mae plans to unload thousands of repossessed homes by way of opening offices in South Florida and Southern California to "get the proper...

As the last three residential construction cranes move closer to being disassembled in the oversupplied Downtown Miami condo market, four additional cranes - against steep odds - have suddenly sprung up on a new speculative oceanfront condominium project proposed in the barrier island city of Bal...

Florida's largest bank was already under pressure from analysts, investors, and third-party governance groups concerned about the institution's growing number of problem mortgages even before Thursday's New York Times article donned the Miami-based lender as the "Tempest for a Bank That Bet on Ri...