Condo.com Blog

ArTech Aventura - The Modern Luxury of Aventura

Tue, 07 Oct 2008 19:14:48 GMT

ArTech Aventura is the newest building in Aventura that offer unique one and two level town home style living. This modern and dramatic building that resemble cruise ship of the future has been designed by world famous architect Carlos Ott. Perfectly located on 188th street behind Loehmann’s Fashion Island of Aventura close to restaurants, bars and shopping centers. ArTech Aventura offers luxurious amenities including state of the art fitness gym, Turkish bath, Massage rooms, private cinema, 2 tennis courts, racquett ball, Lounge Party Room, one of a kind pool, one of the largest pools found in the Unites State in a residential building. Easy to show.

Real Estate Investors to Benefit from Current Crisis

Tue, 07 Oct 2008 18:48:07 GMT

The current market today is one of confusion. For the last 5 years the market was one of euphoria with residential homes and condominiums magically transformed from living quarter into an investment. The incentive for this investment was the ability to perceive increasing value in residential real estate based on market demand which was fueled by the economic gain of participants in the process. Historically housing was a perfect market - if you needed a house you bought one when you had the ability to make the payments. Collapse of the residential real estate market called into question value and process of all property markets giving rise to today’s credit crisis. Commercial Loans as mirrored by CMBS showing minimal default rates have amounted to approximately $12.3Billion projected to be an annual amount of $25.2 Billion from the 2007 mark of $230.2 Billion. The results of uncertainty for Commercial developments are greater equity requirements, the inability to obtain a high Loan to Value or Cost (through revised underwriting standards), and an inability to satisfactorily price debt based on the greater perceived risk in Real Estate. For Sale Single Family, and Condominium Real Estate have witnessed a spiraling decline in values. The first part of the year has witnessed as much as 30% declines in value and even though the apartment market has been relatively stable. Even with the recent government actions there is no assurances that there will be not be future value declines..

Decrease in value was the result of loans based on unreliable investment underwriting and ratings. Today’s inability to pass risk on to others has pervaded the entire market place and lead to a lack of credit to both residential and commercial real estate projects. On a macro level the lack of confidence has lingered. The governmental oversight is looking to institute systemic adjustments to prevent further occurrence. The capital market continue to experience re-pricing, deleveraging and greater differentiation between property types and investment quality within each property type.

The government initially jumped into the situation much as the farmer who shuts the barn door after the horses have left. Coming to the rescue of major investment houses and the banking system was a worthwhile reaction to demonstrate their responsibility to regulate the economy and avert further crisis. The recent passage of the $700 Billion Plan will be the beginning of further attempts to regulate the credit markets that will reverse the adverse effects of the previous excess and put in place effective methods of restraint. Rather than exposing the problems in the banking system, The objective is to impose intelligent criteria with the objective of diminishing uneconomical lending practices.. The opportunity for the future is based on the correction of supply demand imbalance and specific requirements for creating work force, senior and student housing. The residential market in particular will need time to adjust. However, 3 to 5 years of working off the oversupply should put demand in proper perspective. The historical increase of materials, labor and normal demand should help to increase the value of intelligent investments. Furthermore, whatever inflation occurs will increase the economic value or assets purchased today. It is interesting that many foreign investors have been hedging the Euro by purchasing assets from land and other assets that institutions have been selling at discounts. Another sign of future potential is major investors in real estate are linking up with local partners who can oversee the asset to create optimum value. Real Estate continues to be a long term asset with investment for cash flow and appreciation over time. We expect the sale of these assets down the road to provide much future benefit to intelligent purchasers.

Hawaii Kai Condo Real Estate Market Update for September, 2008

Tue, 07 Oct 2008 01:45:47 GMT

While the economic news in the country is pretty grim, things here aren't so bad. Of course, lots of people are upset about the stock market, but there are not so many foreclosures as on the mainland. Inventory is increasing and prices/number of sales are going down - but we've all seen these before in other Buyer's Markets.

15 condo units sold in Hawaii Kai in September, with a median sales price of $511,000, compared to 25 sales and $517,000 a year ago. Year-to-date, 152 condo homes have sold, with a median sales price of $541,500, compared to 204 and $531,000 in 2007. So, numbers of sales are down but prices haven't decreased very much.

New listings totaled 33 in September in Hawaii Kai - compared to 32 last year - with a median list price of $555,000 vs. $600,000 a year ago. Inventory and Days on Market, island-wide, have both increased over 2007.

The numbers present a mixed message, especially if you've been watching the mainland economic news. Contact me for details on any condo or townhome complex and neighborhood in Hawaii Kai for a detailed sales analysis.

Barbara Abe, REALTOR
808-226-2537
www.movetohawaiikai.com
www.barbarashawaii.com
barbara@barbarashawaii.com

Kamiloiki in Hawaii Kai: Choices in Price and Location

Tue, 07 Oct 2008 00:15:18 GMT

There are two sections to the area in Hawaii Kai known as Kamiloiki, the Estates and the Heights. The valley floor was originally a very productive sweet potato farming area, and kamiloiki (valley) means “little milo tree,” so the milo tree must have been abundant also. Milo wood is widely used in Hawaiian decorative art.

The Estates is a development of 78 smaller houses, around 1,400+, at the mauka (mountain) end of Lunalilo Home Road. They were built from the late 1970s into the mid- 1980s. Because they don’t have an ocean view or large square footage, the values are modest for Hawaii Kai. Sales prices for nicely remodeled homes in 2007 have been from $681,000 to $769,000. Through the first six months of 2008, 2 homes sold, $685,000 and $850,000.

Kamilo Heights is the subdivision where Kamiloiki Estates ends and Lunalilo Home Road makes a “U” turn. The houses sit at the base of the mountain which forms the head of Mariners Valley. Built in the early to mid- 1990s, the 86 homes range from over 1,200 to 1,860+ sq ft. Many have nice open views looking toward Koko Crater and over Mariners Valley. In 2007, sales ranged between $665,000 to $1,095,000. Five homes have sold in 2008, from $668,800 to $850,000.

Contact me for complete details on this Hawaii Kai neighborhood, and a real estate sales analysis.

Barbara Abe, REALTOR
808-226-2537
www.movetohawaiikai.com
www.barbarashawaii.com
barbara@barbarashawaii.com

Condotels in Honolulu More Days on Market

Mon, 06 Oct 2008 01:07:22 GMT

With the more strict underwriting of loans comes higher downs for condotel's , try 30% or more depending . So many more factors involved to factor in approval , percentage of homeowner's to renter's , full kitchen , etc. On top of that the City and County of Honolulu have hit the condotel owner's with an extremely high assesed value , doesn't seem to justify what your buying. However , with so many snowbirds and visitors , including higher hotel rates contels seem to still sell ....just not so easily . I have seen prices come way down on them due to the fact that they are more days on the market and underwriting.
Caveat Emptor.
Robert Huber RA Price Realty Goup

South Florida Foreclosures Top $14B As Lehman Pursues $91M In Problem Loans

Fri, 03 Oct 2008 19:19:45 GMT

Bankrupt investment firm Lehman Brothers is foreclosing on nearly $91 million in problem South Florida loans, an amount that represents nearly 1 percent of the regional total foreclosure value through the first three quarters of 2008, according to a new report from Condo Vultures® LLC.

Most of Lehman Brothers’ bad loan amount is in Miami-Dade County, where $90 million worth of financing is in default. An additional $596,000 in residential financing is in default in Palm Beach County, and $355,000 in residential financing in Broward County, according to the Bal Harbour, Fla.-based consultancy that generated the report based on circuit court records.

The bulk of Lehman's South Florida lending was in the commercial sector, where it has 50 commercial loans with a combined value of $2.4 billion allocated. All of these loans are greater than $10 million, and most appear to be performing, according to a previous Condo Vultures® report.

Washington, in an attempt to avoid another Lehman-like failure, is working to implement a bailout package to avoid any further financial meltdown and curb the spiking number of foreclosures.

In the meantime in South Florida, lenders have been busy foreclosing between January and September filing 55,737 actions valued at more than $14.2 billion on properties in Miami-Dade, Broward, and Palm Beach counties. Condominiums and townhouses account for 16,553, or 30 percent, of the actions filed, totaling $3.4 billion, according to the report.

In what may be a surprise to some, Broward County, not Miami-Dade County, has the highest concentration of total foreclosure actions with 24,733, or 42.2 percent, of the actions filed, totaling $5.99 billion, according to the report.

Palm Beach County is second with 17,065, or 29.3 percent, of the actions filed, which totals nearly $4.2 billion. Miami-Dade , which many industry watchers consider the epicenter of the Florida housing crash, has 13,939 actions – some 28.5 percent - filed, with a value of $4 billion, according to the report.

“Broward and Palm Beach counties are experiencing the foreclosure crisis that Miami-Dade County endured in 2007,” said Peter Zalewski, a principal in Condo Vultures® LLC. “Miami-Dade’s foreclosure actions are now leveling off steadily as many of the distressed properties have already gone through the court process and are now in the hands of the lenders as Real Estate Owned (REO) properties. Going forward, look for Miami’s REO total to fall as opportunistic buyers continue to acquire these bank-owned assets at deep discounts.

“It is a different story for Broward and Palm Beach counties. We expect the number of REO properties to spike in Broward and Palm Beach counties in 2009 once all of the 2008 foreclosures run their course through the court system.”

Condo Vultures® LLC is scheduled to release its third quarter 2008 REO properties report later this month. For an advanced copy, please be sure to register for the Condo Vultures® Market Intelligence Report.

Opportunistic buyers looking for discounted condominiums and townhouses will find that the most foreclosure actions are in complexes scattered throughout Broward and Palm Beach counties.

Broward County is now home to 41.2 percent of the foreclosure actions for condominium and townhouse product. Broward has had foreclosure actions filed against 7,558 condominiums and townhouses worth $1.4 billion. Palm Beach County has had 4,042 foreclosure actions filed against condos and townhouses worth $724 million. Miami-Dade County has had 4,953 foreclosure actions filed against condos and townhouses, totaling $1.2 billion, according to the report.

In a sign of how the foreclosure crisis is spreading north, Miami-Dade County is now home to only four of the top 20 condo buildings and complexes with the highest number of foreclosure actions filed.

A year ago, Miami’s Brickell Avenue financial district had three of the top five buildings, each of these projects were located in a four block stretch in the Greater Downtown Miami area. Today, only one Brickell Avenue condominium project – the Club at Brickell Bay – ranks as one of Miami-Dade County’s top five foreclosure buildings.

Leading Miami-Dade County in foreclosure actions is the Townhomes at Keys Cove in Homestead with 70 actions valued at $11.2 million. The Parc Central Aventura condominium ranks No. 2 with 61 actions valued at $21.4 million. The Blue Lagoon condominium conversion in Miami near the international airport ranks No. 3 with 57 actions totaling $17.9 million.

In Broward, the Edgewater complex in Coral Springs ranks at the top of the list with the highest number of foreclosure actions with 102 valued at $24.5 million. The Tides on Hollywood Beach, an oceanfront condo conversion, ranks second with 96 foreclosure actions totaling $32.8 million. The Palm-Aire Country Club complex in Pompano Beach ranks third with 94 foreclosure actions totaling $12.7 million.

Palm Beach County is home to the single complex with the highest number of foreclosure actions.

The Ponte Verde at Palm Beach Lakes has 120 actions valued at $22.6 million. The St. Andrews
Palm Beach is a distant second in the county with 74 actions filed worth $8.9 million. Cityside Condo and the Spa at Sunset Isles, both in West Palm Beach, rank Nos. 3 and 4, respectively. The 69 foreclosure actions at Cityside Condominium are valued at $19.7 million, while the 67 actions at the Spa at Sunset Isles are valued at $14.9 million, according to the report.

Peter Zalewski is a principal with the consulting company Condo Vultures® LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com. Be sure to check out Peter’s blog at CondoDump.com. Don't forget to sign up for our weekly Market Intelligence Report. Looking for a property at a deep discount? You are encouraged to take a peek at the Vultures Database™ .

Copyright © 2008, Condo Vultures® LLC

Read Condo Reviews Before Signing the Dotted Line

Fri, 03 Oct 2008 16:36:53 GMT

When you’re at an open house, the realtor is not going to tell you every single detail about a condo for sale or rent. Think about it, if you were told every negative aspect about a property, you would be hesitant about opening your check book, right. So, before you even consider signing the dotted line, make sure you check out what current residents are saying first.

Finding condo reviews, takes a little research on your part. To find out whether a condo unit is worth investing your money in, you have to get information from the source. You can get reviews the hard way and stand in front of a condo and get residents opinions about their condo experience as they leave the building …they’ll probably think you’re on the sunny side of weird and snub you. Or you can do it the non-humiliating way and find condo reviews on the Internet.

Keep one thing in mind; the majority of condo review sites are limited and site owners can easily pay to have positive reviews. The good news is, buyers and renters will soon be able to review both biased and unbiased reviews from actual residents, nationally, right here at Condo.com.

Wilmington NC Riverfest

Fri, 03 Oct 2008 03:54:28 GMT

Come join Wilmington NC Riverfest Oct.3-5

Enjoy many activities

Adventure Zone

Antique Car Show

BMX Bikes Stunt Show

Carolina Wake Series

Children's Costume Contest

Children's Treasure Hunt

Classic Car Show

Entertainers

Fireworks

Gospel Explosion and Step Dance

Kidz Zone

Pirate Costume Contest

Pirates Invasion

Pumpkin Carving

Rail Jam

Riverside Shaggin Contest

Run the River 8K

Waiter's Wine Race

Skateboard and Rail Jam

Main Stage

www.wilmingtonriverfest.com

www.brendakingrealtor.com

Wilmington NC Riverfest

Fri, 03 Oct 2008 03:38:57 GMT

Come join Wilmington NC Riverfest Oct.3-5

Enjoy many activities

Adventure Zone

Antique Car Show

BMX Bikes Stunt Show

Carolina Wake Series

Children's Costume Contest

Children's Treasure Hunt

Classic Car Show

Entertainers

Fireworks

Gospel Explosion and Step Dance

Kidz Zone

Pirate Costume Contest

Pirates Invasion

Pumpkin Carving

Rail Jam

Riverside Shaggin Contest

Run the River 8K

Waiter's Wine Race

Skateboard and Rail Jam

Main Stage

www.wilmingtonriverfest.com

www.brendakingrealtor.com

Beach Club at Hallandale Beach

Fri, 03 Oct 2008 01:19:41 GMT

The Beach Club at Hallandale Beach is a world-class resort that consists of three luxury condominiums situated on the oceanfront property in Hallandale Beach. Beach Club offers units with magnificent ocean views, access to the private beach with all the services included, fantastic amenities with three pools and full service gym and spa overlooking the Atlantic Ocean, great location close to malls, airports and shopping centers. Live a resort style in the heart of Hallandale Beach.

Condos for sale in Florida

Thu, 02 Oct 2008 21:07:18 GMT

Hi Everyone! Question for locals or agents in the Clearwater, FL area. How are condos selling down there? I have some friends that I referred to an agent in Florida to sell 2 beautiful condos and they are having no luck. They have done drastic price reductions and still no luck. Is the market really that bad?

I appreciate your feedback.

Colleen Gordon Greenwood, IN
www.buyandsellwithcolleen.com

2 Las Vegas Opportunities

Thu, 02 Oct 2008 20:52:55 GMT

Jim Brooks shares some great local insight.

Key Points:

MGM Signature - 60 - 65% price drop Year-On-Year - 6% discount asking price to sales price (bid - ask spread)

Panorama Towers - 10% disc discount asking price to sales price (bid - ask spread)

Topics local brokers are talking about:

1. Foreclosures inc. 62%
2. Short Sales
3. Financing

HOME STAGING What is HOME STAGING and how could I use it to sale for more ?

Wed, 01 Oct 2008 23:30:00 GMT

you want to be confortable, if you spend 8 months a year in, mind as well be comfortable in your habitat sincere regards dear respected readers HOME STAGING ? investor, mortgage intelligence. HOME STAGING IS A SCIENCE and if you don't study it for years you can not understand it, therefore the home you sale don't get to be sold at the same price than REAL HOME STAGING. 99% of the so, CALL HOME STAGER DON'T RAISE THE PRICE OF YOUR PROPERTY, SO THEY ARE FRAUD AND THAT'S IT. HOME STAGING IS INTERIOR ARCHITECTURE AND INTERIOR ARCHITECTURE RAISES THE VALUE OF THE PROPERTY.

HOME STAGING 101 By Claude Francois
Find out how America got fraud by so CALL HOME STAGING FEES
8 BILLION IN 2007 ALONE.

HOME STAGING having the flow of air coming out the walls, lateral, ceiling, down, floor, up, with a flow of air that mix the dust and/or the viruses can not stay in the air, therefore you dont get sick and you only get to dust once per month and/or per 6 weeks.

HOME STAGING its using 2 liter toilette cause you dont need 18 liter of clean water to flush your shit now do you ? luxury intel HOME STAGING

HOME STAGING is using LED so you dont catch cancer with the mercury concentration into the light ball.

HOME STAGING is reducing by 70% your electricity Bills and usage of natural resources.

HOME STAGING can raise the price of your mortage by 12 if your ceiling..s are 12 Ft when the design climes up the wall's the evaluation climes up the wall's.

HOME STAGING BUNKERING COOCONING HIVING NIKKING VONNING science of HOME STAGING

NOTE IMPORTANT NOTE

HOME STAGING require years to lurn if anyones promotes that they can teach HOME STAGING in day's, week's, month's, IT'S A FRAUDE 100% GARANTY. HOME STAGING is a science that require years of studies.
Some go to school to be able to set colors into a design, please, if it sounds to good to be true, it..s a fraude.
HOME STAGING interior Architecture

This account is protected by quebecwebmasters. hackers will be facing justice in U.S.A. AND CANADA.

F.C.F.

http://quebec.kijiji.ca/c-PostersOtherAds-W0QQUserIdZ5906384QQSortZ4

www.condo.com/TOWER

www.HIVINGVONNING.com

11 venues for 10 days

Wed, 01 Oct 2008 14:50:24 GMT

Curiously enough, the most urgent project turned out to be one of the most beautiful. I mean Oasis Palmilla, visualization and animation of a well-known hotel in Los Cabos, Mexico, which was done for RTKL Associates Inc.

Project in a nutshell:

11 different interiors - bedrooms, bathrooms, living-rooms, dining room, spa, verandas, restaurants, reception, and various lounge rooms – complex visualization of a luxurious hotel. On top of that, the renderings were meant for printing and needed to have high resolution.
Interior animation of one of the luxurious suites.

The project began as usually: one morning a new request from our respected client was received. We were glad to start work on these visuals as they were extraordinary and exciting, interiors were in colonial style with lots of wood, ceramics, luxury fabrics, contrasting colors. At that time it was a godsend since we were tired of common white walls and ceilings.

But our happiness broke up soon, the smiles left our faces and we hanged the heads after we heard about the deadline:"We need all the images ready in the middle of the next week! The presentation is on Wednesday!"

The term was fixed: no postpones, no delays. Just 10 days including week-ends, and a couple of intermediate deliveries for one venue. And there were only 4 artists available.Most possibly the request would have been denied. But not by Vayersoft. We believe anything is feasible as soon as you have an interesting project, if you envisage textures and lightening beforehand, if you can visualize the result. Huge amount of work was done in a burst of inspiration.

It was the project Oasis Palmilla. We came up with nice 3D visuals, vivid impressions, and pride for the work done.

Oleg Ovcharenko,
3D Artist, PM
www.vayersoft.com

Downtown Miami Casinos Proposed As Property Tax Revenue Plummets

Wed, 01 Oct 2008 13:39:03 GMT

Hampered by falling property taxes, a South Florida group is proposing a 2010 constitutional amendment to permit full-fledged casino gambling just west of Biscayne Boulevard in Downtown Miami.

Developers of the 25-acre Miami Worldcenter have established the organizational framework to put a casino amendment on the ballot in as little as two years from now, according to the Miami Herald.

The proposed Miami Worldcenter mixed-use project is to be located in the heart of Greater Downtown Miami among nine contiguous blocks situated between the American Airlines Arena west to the former Miami Arena, and the MacArthur Causeway south to Miami-Dade College.

Developers have constructed nearly 23,000 condos in a 60-block stretch of Greater Downtown Miami since 2003, including the nearby Marina Blue, 900 Biscayne, Ten Museum, and the
Marquis condos.

The Greater Downtown Miami area overall area now has more than 34,000 units, according to the Condo Vultures® Official Condo Buyers Guide To Miami™.

Before the first casino can open, organizers must overcome several obstacles, most importantly state voters who have rejected Miami casinos three times before, including the most recent attempt in 1994.

The flip side is voters in the last five years after approved Las Vegas-style slot machines at South Florida’s seven parimutual sites in an attempt to boost the struggling horse racing, dog racing, and Jai-Alai industries.

If a majority of Florida voters do suddenly approve the idea of Miami casinos given how government revenue has plummeted based on the dropping property prices, the ballot item would need to receive at least a 60 percent approval for the amendment to be implemented.

Peter Zalewski is a principal with the consulting company Condo Vultures® LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com. Be sure to check out Peter’s blog at CondoDump.com. Don't forget to sign up for our weekly Market Intelligence Report. Looking for a property at a deep discount? You are encouraged to take a peek at the Vultures Database™ .

Copyright © 2008, Condo Vultures® LLC

HAWAII REAL ESTATE TODAY

Wed, 01 Oct 2008 10:48:20 GMT

http://hulahomeshawaii.typepad.com/hawaii_real_estate_today/

San Fernando Valley & Santa Clarita Valley Condos

Wed, 01 Oct 2008 10:42:06 GMT

	Encino	Woodland Hills
	Sherman Oaks	Calabasas
	Tarzana	West Hills
	Studio City	North Hills
	Toluca Lake	Northridge / Porter Ranch
	Burbank	Winnetka
	North Hollywood	Chatsworth
	Van Nuys	Granada Hills
	Lake Balboa	Panorama City
	Valley Glen	Valencia
	Valley Village	Stevenson Ranch
	Reseda	Thousand Oaks
	Canoga Park	Canyon Country
	Saugus	Tujunga
	Arleta	Pacoima
	Sunland	Mission Hills
	Sylmar	Simi Valley
	San Fernando	Agoura Hills
	Moorpark	Westlake Village
	Newbury Park	Oak Park
	Lancaster	Palmdale

Foreclosures in Aventura

Wed, 01 Oct 2008 02:12:17 GMT

Forclosure in Turnberry On The Green 19501 W COUNTRY CLUB DR Gorgeous unit in the luxury building in Aventura with plenty of amenities including sauna, pool, gym, valet & much more. Unit located right in front of Aventura mall and has all new lighting system and fixtures! Bathrooms have new sliding glass doors. carpet in perfect condition, washer & dryer inside, covered parking! Easy to show.

Regulators Shut 9 Banks In 3rd Quarter At Cost Of $6 Billion

Tue, 30 Sep 2008 17:26:10 GMT

Regulators shut down an average of one bank about every 10 calendar days in the third quarter of this year, adding up to nine failed institutions in a 92 day span from July through September.

The nine failed institutions had assets of $347 billion and deposits of $214 billion at the time of closing. The Federal Deposit Insurance Corp, which protects individual deposits up to $100,000 per account, estimates the third quarter bank failures will cost between $6 billion and $10 billion.

Washington Mutual, a $310 billion in assets institution based in Henderson, Nev., was the last bank to fail in the third quarter, being shut by regulators on Sept. 25.

In a preemptive move prior to the seizure, the FDIC negotiated a deal for Washington Mutual Bank’s assets to be sold to JPMorgan Chase Bank, a $1.4 trillion in assets institution based in Ohio, to ensure consumer confidence and avoid mass deposit withdrawals.

Wachovia Bank, a $782 billion in assets institution based in North Carolina, avoided being the 10th institution shuttered in the third quarter only when the North Carolina-based organization was able to reach a deal to be acquired by Citigroup, which operates the $1.3 trillion in assets Citibank institution.

For the year, regulators have shut down 13 institutions. California, Nevada, and Missouri lead the nation in failed institutions with two banks each. Florida, Arkansas, Minnesota, Kansas, Georgia, West Virginia, and of course Washington state have each had one institution shuttered this year.

Before Washington Mutual Bank’s failure, federal regulators were busy on Sept. 19 shutting down Ameribank Inc., a 102-year-old community bank based in West Virginia with links to Florida.

Prior to the Ameribank’s closure, Silver State Bank in the Las Vegas suburb of Henderson was the last institution to be shut, that occurring on Sept. 5.

Silver State Bank was the second Nevada institution to fail this year. In July, banking regulators shut down the First National Bank of Nevada in Reno, which along with the First Heritage Bank in Newport Beach, Calif., was owned by First National Bank Holding Co. in Scottsdale, Ariz.

A host of other banks are being closely monitored by industry watchers who anticipate further failures this year, especially in Sun Belt states where the housing crisis has hit hardest.

Before regulators shuttered Ameribank and Silver State Bank, the focus of examiners was on Greater Atlanta-based Integrity Bank, a $1.1 billion in assets institution that was shut on Aug. 29.

Working down the list of failed lenders, regulators seized Columbian Bank and Trust Co., a $752 million in assets institution based in Topeka, Kansas, on Aug. 22.

Three weeks earlier on Aug. 1, regulators shut First Priority Bank of Bradenton, a six branch institution with $261 million in assets located on the state’s west coast.

First Priority’s closing marked the first Florida institution to be closed by regulators in more than four years.

On July 11, federal regulators shut down IndyMac Bank, a $32 billion institution based in Pasadena, Calif. The estimate cost of that seizure is between $4 billion and $8 billion, according to the FDIC.

Before IndyMac, regulators seized Minnesota-based First Integrity Bank with $54.7 million in total assets and $50.3 million in total deposits on May 30; Arkansas-based ANB Financial with $2.1 billion in total assets and $1.8 billion in total deposits on May 9; Missouri-based Hume Bank with total assets of $18.7 million and total deposits of $13.6 million on March 7; and Missouri-based Douglas National Bank with $58.5 million in total assets and $53.8 million in total deposits on January 25, according to the FDIC.

Peter Zalewski is a principal with the consulting company Condo Vultures® LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com. Be sure to check out Peter’s blog at CondoDump.com. Don't forget to sign up for our weekly Market Intelligence Report. Looking for a property at a deep discount? You are encouraged to take a peek at the Vultures Database™ .

Copyright © 2008, Condo Vultures® LLC

Are You Deeply Hopeless?

Tue, 30 Sep 2008 03:55:02 GMT

Don't Worry! Try this last but effective option, and be among the thousands who has solved their problems in the name of Jesus Christ.

You are invited to Life In The Spirit Seminar:

Date: October 7, 2008, Tuesday
Time: 8am to 10pm
Address: El Shaddai, Amvel, Sucat Rd., Brgy. San Dionisio, Paranaque, Metro Manila. Philippines

Website Address: http://www.chanrobles.com/elshaddai.htm
                             http://www.geocities.com/elshaddai_dwxi_ppfi/main.htm
                             http://www.brothermike.com/

  Tel. Nos. (632)893-9394
(632) 634-07/41/42/43/44/45 Fax Nos. (632) 634-07-36 or (632) 634-8881

aalaan7@gmail.com
Malachai 3:10
Luke 6:38
John 15:7
John 3:16