Five years ago, Peter Zalewski was working as a business journalist, but he jumped into real estate before the condo crisis hit and founded Condo Vultures. His provacatively named real estate firm has grown by leaps and bounds, helping buyers to sift through the foreclosure stats and find steals in South Florida’s real estate collapse. Last year, he also appeared in Michael Moore’s
Here's a headline that may sound familiar: Miami is in the middle of a condo boom.
Just seven years ago, Miami had a similar surge in condo construction. But it all came crashing down. There was an international banking crisis, and the Florida real estate bubble burst — taking down investors and many developers.
But new towers are once again reshaping the city's skyline.
Peter Zalewski, a real estate consultant with Condo Vultures, says 19 condo towers are now in the works in Miami, with 7,000 total units.
The U.S. Supreme Court ruled Tuesday that a Florida man's floating home was a house, not a boat, and that therefore, the city marina where he kept it docked could not seize the structure under federal maritime law. The case could affect thousands of houseboat owners nationwide.
The past couple of years have been difficult for the state's real estate market-- particularly in South Florida. However, real estate agents now say that Miami's market is finally booming after years of a lull.
A controversial agreement between Palm Beach County and developers is finally producing reduced-price homes for low- to middle-income families.
It’s just not happening fast enough.
In 2006, at the height of South Florida’s building boom, the county decided to set aside affordable housing for its workforce. So it struck what sounded like a sweet deal for developers: they could build more houses than usual within certain areas, provided they knock down some prices.