CondoReports.com

New Index provides rule of thumb for Condo Building Health

Jul 14, 2009

CondoReports.com announces the launch of the BuildingHealth Index. The index is the first measure of condominium building health county-wide with ratings on nearly 2,000 condominium and townhome complexes throughout Miami Dade County. BuildingHealth Index ratings provide an indicator of likely condominium association stability and historical pricing trends within a condominium community. The recently released ratings are available free for a limited time at CondoReports.com.

Miami Condo Price trends vary substantially by Condo Community From a 17 percent increase to a 81 percent decrease

Jun 26, 2009

With recently published statistics showing price declines for condominiums in Miami Dade County near 50 percent, it is no surprise to see that many condominium buildings have lost substantial value. But the extent of these price declines is anything but uniform.

Wave of Condo foreclosures auctions in Miami Dade County may have peaked in the second quarter of 2008

Jun 12, 2009

Since the wave of condo foreclosure auctions started in 2007, nearly 6,000 condo units in major condominium projects have been sold at foreclosure auctions through the first quarter of 2009. Foreclosure auctions represent the final step in the foreclosure process where local governments force the sale of the property to pay off debtors.

Last Year’s Top Foreclosure Buildings are Among This Year’s Most Active Selling Buildings

Jun 01, 2009

To those who follow the Miami Dade condo market, names like The Club at Brickell Bay, The Vue at Brickell, Blue Lagoon and Parc Central are not new. In 2008, these buildings topped the charts for the most foreclosures. Now they are among the most active selling buildings showing significant sales activity in the first quarter of 2009 according to a recent study by CondoReports.com.
“It is no coincidence that many of last year’s top foreclosure buildings are among the most active in 2009. Many banks have taken ownership of units in these buildings and are looking to get out. Banks, either through short sales or units they own as a result of foreclosures, are the most active sellers in today’s market as they are willing to accept market prices,” says Adam Cappel, President of CondoReports.com.