“This is a new trend starting to take hold of the Condo market in South Florida…."We are entering the phase of the real estate cycle where the lenders, not the developers, are dictating the course of the condo market going forward in Greater Miami," said Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC. "This is a position that lenders are not comfortable being in as owning and managing real estate carries with it various responsibilities and liabilities that are out of their circle of expertise”… Read on: Shortsale Foreclosure REO Miami South Florida Las Vegas San Diego - Lenders Take Control Of 1,900 New Miami Condos In 45 Days
