“Real estate became very liquid especially in the condo market. People would buy pre-construction pricing and that’s before the building was out of the ground, and then they would sell the contract while the building was being constructed and for huge gain sometimes 200% gains…. They were selling anywhere from $600,000 to well over a million dollars, and now there is an active foreclosure in this building for $219,000.”
– Foreclosure.com Director of REO, Glen Daniels, talks about the boom and bust of the Miami condominium situation over the last few years with CBS4.com. To search for foreclosure homes and foreclosure condos in the Miami, Fla., right now click here.
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