Report: 33 Foreclosures Valued At $1 Million Or More In South Florida

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Oct

2008

Report: 33 Foreclosures Valued At $1 Million Or More In South Florida

Foreclosures, Short Sales, Property Liquidation

Condo Vultures® - Market Intelligence Report Report: 33 Foreclosures Valued At $1 Million Or More In South Florida The wealthy may be immune to economic downturns but that hasn’t stopped 33 luxury properties valued at between $1 million and $5 million from going into foreclosure in South Florida, according to a new Vultures Database™ report from Condo Vultures® LLC. Condo Vultures® is currently tracking 14 luxury condominiums and 19 single-family estates in Miami-Dade, Broward, and Palm Beach counties on or near the water that are being foreclosed upon or already owned by the lenders. These 33 properties are valued today at a combined $58 million, or $509 per square foot, down -33 percent from a historical high of $87 million, or $763 per square foot, according to the Bal Harbour, Fla.-based