Friday, August 27, 2010

Cheap South Florida Real Estate

More than 100,000 properties -- an average of 2,300 per month -- have been repossessed in the three big South Florida counties since the real estate crash began in 2007, according to a new report from, a real estate consultancy.
Lenders surpassed the 100,000 threshold Thursday, when 317 properties were repossessed in Miami-Dade, Broward and Palm Beach counties, the report said.
``To get a grasp of South Florida's real estate crash, consider that lenders have repossessed an average of 75 properties per day since January 2007, which is a span of more than 1,300 days,'' said Peter Zalewski, a principal with the Bal Harbour-based Condo Vultures.

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