July 17, 2007
Remember the realtor who did the failed Condoflip.com? Now he's trying to make money off the Condo Flop
You know, there was sh*tloads of money to be made on the way up, and now there's sh*tloads of money to be made on the way down.
And you know the realtors, mortgage brokers, failed flippers and guys like this are gonna try to figure out a way to do it.
This being South Florida, some are figuring out how to profit from the downturn.
Mark Zilbert, a real estate agent, recently started CondoSuperCenter.com, a clearinghouse for people willing to resell preconstruction units at their original price. He said he expected to collect thousands of listings.
"I ask if they'd be willing to sell at their 2003 price and walk away with their deposit back," Zilbert said. "A lot of people are saying, 'Yes, please, yes, please, yes, please."'
In Miami-Dade County alone, 8,000 new condo units will be completed this year and nearly 12,000 more in 2008.