Your “Miami condo auction draws low bids” article was both symptomatic and problematic. A developer holds an auction and now cries that he sold nine condos that he couldn’t sell prior to the auction for less than what they cost to build. This smacks of the real problem – greed coupled with over-inflated prices.
If someone [...]
South Florida may have dodged some of the recent hurricanes, but it is still experiencing turbulence, especially in the condo market. Has it hit bottom yet? Peter Fitzgerald, COO of the The RADCO Cos., talks about what’s in the sector’s forecast.
Where does South Florida’s condominium market stand right now? Have you seen any recovery, or [...]
When large South Florida developers needed money, they often turned to Lehman Brothers.
That role ended in dramatic fashion when Lehman filed for bankruptcy protection. But Lehman still controls nearly $2 billion in large loans throughout the region, meaning the bank’s demise will play out across South Florida’s besieged real estate market.
Among the local projects Lehman [...]
It is advisable that inexperienced homebuyers should look to realtors to help them search for a residential real estate property in Miami. These professionals can also lend you their expertise in the market to process all the necessary requirements that comes with acquisition, ensuring that you get the best property that fits with your requirements.
Realtors [...]
The housing market crisis in south Florida was a “perfect storm” of oversupply, fraud, speculation, and tight credit, and it could take a couple of years for the Miami condo market to work through its oversupply, Miami Mayor Manny Diaz said on Wednesday.
Many Miami real estate developers “clearly” built more housing units than they should [...]
Renters looking to live closer to work and play are making apartments scarce and driving up prices in the downtown Miami area, according to a recent tracking report.
Fewer than 800 units are available for rent, despite a construction boom during the last five years that produced nearly 21,000 new residences.
Bal Harbour-based Condo Vultures Realty says [...]