Bargains in the suburbs, Zalewski says

Condo Vultures’ principal Peter Zalewski appeared on the Miami Herald Business Show to talk about bargains in the South Florida real estate market. Zalewski said the best places to purchase property at a bargain right now are the western suburbs, including Homestead, Plantation, Kendall and Palm Beach Gardens. Zalewski said buyers will probably need to hold onto their properties for three to five years, or less for a bank-owned property, before prices recover. He also said few bulk deals are occurring because banks don’t want to take large losses on properties.