The Real Deal Miami

Fannie Mae approves 22 new condos in SF

May 19, 2010 12:00PM

Almost 24 newly constructed South Florida condos have received Fannie
Mae approval since January, which allows buyers to secure financing for
units in the projects, according to a report by Condo Vultures. There were 41 South Florida condo buildings that received such approval in 2009,
after none were approved the year before. “Fannie Mae has gone from
virtually blacklisting the South Florida condo market to suddenly
focusing all of its attention on assisting developers in the tricounty
region of Miami-Dade, Broward, and Palm Beach to sell units in their
projects by permitting financing,” said Peter Zalewski, a principal with Condo Vultures. TRD