The Real Deal Miami

Bank repos fall in first quarter

April 12, 2011 09:27AM

Bank repossessions fell in the first quarter in South Florida, the first
quarterly drop since the beginning of the real estate crash, according
to a report from real estate consultancy and brokerage Condo Vultures.
There were less than 9,000 properties repossessed in the first three
months of 2011, compared to 9,200 in the same period in 2010, according
to the report, which was based on government data in the tri-county
area. “A quarterly decrease in bank repossessions in South Florida is
noteworthy given that this has not happened in at least four years,”
said Peter Zalewski, founder of Condo Vultures. TRD