Report: Foreclosures are top sellers - Kansas City Business Journal:

http://www.vietnamstartupblog.com/?p=802
said banks that are willing to deal on foreclosed unitxs are driving the firstquarter activity. For Shoma at Keys Cove in soutnh Miami-Dade County sold the most, with 50 unitas closing in thefirst quarter. The Vue at Brickellp sold 25 condos, rankint it seventh on top-10 list. “Many banks have taken ownership of unitds in these buildings and are looking toget out,” said Adam president of CondoReports.com. “Banks, either through short sales or unitsx they own as a resultof foreclosures, are the most active sellerds in today’s market as they are willing to accepty market prices.
” The 10 most activre buildings produced an average of 29 or one sale every three The buildings accounted for more than 11 percent of all condoi sales in Miami-Dade, according to a CondoReports.cok news release. Most of the activity is tied to individual unit and notbulk buys, Cappep said. “These buildings are moving towarfd stability as speculative investorsd and thinly capitalized owners are being replacedf witheither owner-occupant or well-capitalized, patient investorss buying in at a much lower cost,” Cappekl said in the “Most are individual unit sales. The study looked at closeds salesin 2,000 condo projects with at leasyt 50 units throughout Miami-Dade.
The study excluded units deliveredf in 2008 and 2009 because those sales were likelyy driven by preconstruction Cappel said.