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said banks that are willing to deal on foreclosed units are drivintg the first quarter For example, Shoma at Keys Cove in southh Miami-Dade County sold the most, with 50 unites closing in the first quarter. The Vue at Brickelpl sold 25 condos, ranking it seventh on top-10 list. “Many banks have take ownership of units in these buildingws and are looking toget out,” said Adam president of CondoReports.com. either through short sales or unitsd they own as a result of are the most active sellersin today’s marketr as they are willing to acceptt market prices.” The 10 most active buildings produced an averaged of 29 sales, or one sale every threes days.
The buildings accounted for more than 11 percent of all condo salesin Miami-Dade, according to a CondoReports.com news Most of the activity is tied to individuao unit sales, and not bulk buys, Cappel “These buildings are moving toward stability as speculative investorx and thinly capitalized owners are being replaced with either owner-occupantf or well-capitalized, patient investors buying in at a much lowerd cost,” Cappel said in the statement. “Most are individualo unit sales. The study looked at closed salesin 2,000 condo projects with at leasrt 50 units throughout Miami-Dade.
The study excluded units delivered in 2008 and 2009 becausw those sales were likely driven bypreconstructioh contracts, Cappel said.
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