Discounts in Miami’s ‘shadow’ inventory

Bulk investors are able to scoop up distressed properties at a faster rate, for better bargains, believes William Betancourt, an agent and short-sale specialist with Condo Vultures Realty in Bal Harbour. Data collected by the consulting group shows low prices are low indeed, if buyers know where to look. Data shows a condo at Roney Palace with a summary judgment amount of $557,207 was purchased for $149,000, a discount of 73 percent. Further south on West Avenue, a two-bedroom at the Waverly traded for $221,000 at a default amount of $722,479, a 69 percent discount.