Strategies of the Condo Vultures®

The Federal Deposit Insurance Corp., which guarantees bank accounts up to $250,000, lost nearly $5.2 billion last week with the failure of a Florida savings institution and two Illinois banks.Last week's bank failures push the total losses incurred by the FDIC in the first five months of 2009 to ...

BY JIM FREERCondoVultures.comFederal regulators late Thursday afternoon seized Coral Gables-based BankUnited, FSB, the largest bank based in Florida, and sold it to a newly formed savings bank with the name, BankUnited.BankUnited's new ownership is a consortium of investors that includes John Kan...

Jack McCabe, a national real estate consultant who early on predicted Florida's boom and bust, has confirmed his participation on the upcoming Condo Vultures® panel discussion examining South Florida rental rate trends and the never-ending quest for double-digit cap rates on residential investmen...

BY JIM FREERSpecial CorrespondentThe Federal Deposit Insurance Corp. has set next month as the target date to launch its program where banks will sell pools of problem loans to partnerships of private investors and the U.S. Department of the Treasury.The regulators hope that participating banks w...

South Florida residential pending resales spiked 3.5 percent in the last week to 15,191 existing contracts in Miami-Dade, Broward, and Palm Beach counties, according to a new report from Condo Vultures® LLC.Pending sales in Broward County, where Fort Lauderdale, Hollywood Beach, and Pompano Beach...

National real estate consultant Jack McCabe, one of the first analysts to predict South Florida's housing bubble and bust, projects that the Florida housing market is within a year of hitting bottom.McCabe, president and chief executive of McCabe Research & Consulting LLC in Deerfield Beach, Fla....

Condominium owners in Greater Downtown Miami can expect to see their assessed real estate values for property tax purposes drop by as much as 40 percent in the upcoming year based on early indications from Miami-Dade County Property Appraiser Pedro J. Garcia.Garcia's office is currently assessing...

The number of South Florida residential properties available for resale fell by 1.1 percent in the last week while the number of pending sales in the tri-county region jumped by 2 percent, according to a new report from Condo Vultures® LLC.There are now 86,812 single-family houses, townhouses, an...

Federal regulators are staffing up, leasing office space, and creating a management structure in preparation to seize an undisclosed number of struggling banks in Florida and the Southeastern United States.The Federal Deposit Insurance Corp., which guarantees deposits of $250,000 at the nation's ...

The number of residential resale contracts executed in South Florida in the last week of the winter tourism season grew by the tiniest of amounts, causing fear that buying activity may be stalling, according to a new report from Condo Vultures® LLC.Pending contracts on single-family houses in the...