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Four Great Condo Foreclosure Deals on the Market Now

July 23, 2010 by Lucas Lechuga

In this video segment, we highlight four condo foreclosure deals that are available at this time.  These condos reside at 900 Biscayne Bay, Blue Condominium, The Club at Brickell Bay and Icon South Beach.  Give us a call at 305-428-3860 if you would like to learn more about these opportunities or other foreclosure deals now on the market.

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11 Comments on "Four Great Condo Foreclosure Deals on the Market Now"

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why bother
Home sales surge in June with inventory at 42-year low * Instant view: New home sales exceed forecasts for June 10:28am EDT WASHINGTON | Mon Jul 26, 2010 6:21pm EDT WASHINGTON (Reuters) – Sales of new homes rebounded strongly in June from May’s record low, pushing the number of houses on the market to the lowest level in nearly 42 years. But downward revisions to sales estimates for April and May in Monday’s report left in place a picture of a weak housing market and perceptions that economic growth moderated somewhat in the second quarter. Sales of new single-family homes… Read more »

“[T]he sales pace last month was the second lowest since records started in 1963.”

— Yup, sounds like a booming r.e. market to me. LOL.

Topical regarding future SoFla foreclosures/pricing pressure ————- Don’t hold your breath for a bounce in home prices By ALAN ZIBEL (AP) IMO, the relevant line is “In Miami, nearly a quarter of mortgage borrowers have missed at least three months of mortgage payments or are already in foreclosure, according to Moody’s. That’s the highest level in the country. In four other Florida cities — Fort Lauderdale, Cape Coral, West Palm Beach and Naples — the proportion exceeds 15 percent. The same is true for Las Vegas” ——— And according to other data from the past 6 months, housing in… Read more »

That Reuters article is a total real estate shill – Month-to-month comparisons are meaningless, and May’s sharp downward revision makes the June sales seem more significant.

Check out one of the most respected housing analysis blogs on the market – Calculated Risk –

For New Home Sales – Not Seasonally Adjusted – this was the worst June EVER.

Mike: Thanks for the great article – – statistical analysis much appreciated! Though I feel compelled to take a pot-shot at the author for merely revising the piece he wrote concerning May – – and changing the numbers. (But his comments on the impact of the tax credit and the timing issue in the earlier article was insightful.) (See: I also appreciated this article containing some interesting comments concerning the Case-Shiller index. I also appreciated the article that broke down sales by price: (See: Granted, they are using median sales prices, but the analysis was still helpful.… Read more »
Gixxer 1000


I don’t know if you bothered to look but new home inventory is also close to the lowest levels in history as well. It helps to actually read the entire article and look at all the facts instead of just hearing the pander.

With all the distressed properties there is obviously more of a focus on existing home sales. And when you look at existing home sales you’ll see that they are still HIGHER than the historical median. Here is the info from you’re same “respected” source:


Gixxer 1000 said: “Here is the info from you’re same “respected” source:”

— Oops, looks like Gixxer 1000’s “spell check” failed him again. LOL.

Poor and Unemployed

Gixxer 1000:

“I don’t know if you bothered to look but new home inventory is also close to the lowest levels in history as well”

New home sales? Do they matter? It is like talking about “Saturn” sales figures. New homes are now called – existing homes, foreclosed homes, REO …………

In accordance with the new law which came in to force on April 5th, banks cannot foreclose without first going through mediation. Which means the government has jammed the brakes for few months. Of Course the headline say that the foreclosures are also down! BECAUSE ?????

Hopes rise with sales of downtown Miami condos The idea of a vibrant city center in Miami is bolstered by a Downtown Development Authority finding that condo sales — and prices — are going up. Get Adobe Flash player A report found sales of downtown Miami condos have accelerated during the first half of this year, and the inventory of empty new condos on the market is steadily declining. Buy Photo A report found sales of downtown Miami condos have accelerated during the first half of this year, and the inventory of empty new condos on the market is steadily… Read more »
That Miami Herald article’s headline is just another example of how misleading some reporters are. This is exactly the same type of non sense that we get from Peter Zalewski and his crew (also used to be a reporter) I am pretty sure that the 1,933 unit figure includes the 870 units that traded hands at ICON, but of course they don’t mention that here. The 110% increase sounds much better. Also, the 16% average price increase they mention is also skewed by these units which are on the higher end of the spectrum. The fact that they are at… Read more »

Thanks for posting Gixxer. I’m glad you pointed out existing home sales they are still higher than the historical median because it seems people neglect to recognize this.

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