Calling all opportunistic real estate investors stateside and international:

Foreclosure.com wants to alert you to a 117-unit condominium complex in Miami Beach, Fla., which will be featured in an upcoming bankruptcy auction.

It’s a liquidation sale, meaning that it must be sold to the highest bidder. There is no reserve price and/or minimum bid.

Sound too good to be true? Well, it is … that’s the reason we’re passing the good news along.

The property comprises:

• Nine contiguous buildings
• A 117-unit condo project
• 53 unsold units
• 64 additional rentals in four buildings

We’re available to coordinate property inspections if you’re interested, as well as provide additional information and answer all questions on this awesome opportunity. This is your chance to potentially own a massive slice valuable Miami Beach real estate for a fraction of the cost.

Act now before it’s too late — the auction is scheduled for Dec. 2009!

Feel free to email our investment coordinator, Anthony Segrich, direct (aseg…@foreclosure.com) or call (561) 988-9669 ext. 7250. Serious investors only.

Sometime in 2010, according to the USA Today:

“A second wave of foreclosures is poised to hit the market, potentially undermining housing recovery efforts as more homes add to the glut of inventory and drive down prices. These homes largely represent loans that are delinquent but have not yet resulted in foreclosure sales.”

The reason? The report lists several:

• Moratoriums
• Overwhelmed lenders
• Modifications
• Asset write-downs

Add it all together and Mark Zandi from Moody’s, which is “among the world’s most respected and widely utilized sources for credit ratings, research and risk analysis,” predicts that about 2.4 million homes will be lost to foreclosure next year.

That’s nearly a half-million more defaults that occurred in 2009 based on their data.

If you’re in financial turmoil do everything you can as soon as possible to not add to that potential tally. Remember that professional foreclosure consultants can be reached right here.

It’s free help.

On the flip side, be sure to search Foreclosure.com today if you’re in the market to purchase a foreclosed home in your area. It’s FREE for seven days. Click here.

Why are seemingly rich and powerful stars such as Nicolas Cage, LaToya Jackson, Toni Braxton and Stephen Baldwin, among others, having foreclosure problems?

Forbes offers an explanation:

That’s not a typo.

The former home of the Detroit Lions of the National Football League (NFL) and Pistons of the National Basketball Association (NBA) today sold at a Williams & Williams-coordinated auction for little more than a half-million dollars.

Keep in mind that the Silverdome was built back in 1975 for an estimated cost of $55.7 million. Not even factoring in inflation/appreciation on the 80,000-seat municipal stadium, which sits on 127 acres in Pontiac, Mich., the winning bidder — an unnamed Canadian firm, according to the Detroit Free Press — stands to make about a $50 million profit … at least.

Unless, of course, a move to block the firesale is upheld by a judge.

Silver Stallion Development Corp. had previously offered $20 million to purchase the Silverdome; however, the purchase agreement had expired and the company didn’t cough up the $250,000 minimum bid to participate in the latest auction.

The report indicates that an official ruling on the sale of the Silverdome will be released within a week.

If the auction sale goes through, the new owner “plans to use the complex for a men’s Major League Soccer team and women’s professional soccer.”

Sounds like an early score.

• FHA possible change to Condo market http://bit.ly/2sVATl LY #
• We attended some very engaging sessions at REbarcamp, San Diego. #REBCSD SC AS #
• Training Day: Foreclosure agent training at Foreclosure.com receives key endorsement from FREC — http://ffs.cc/a/hioppl — TM #
• Deal of the Day, Hurricane Ida edition: 3 bed/2.5 br 2,070 sq. ft. Alabama slammer. (123% under value!) http://ffs.cc/a/5indkw TM #
• The rental market will be interesting to watch, given what Fannie and Freddie are doing LY #