Expert Peter Zalewski Discusses Miami's Vintage Condo Market Before 2025 SIRS Deadline

Miami Real Estate Investing Podcast With Peter Zalewski Of Condo Vultures®

This is a 10-minute clip from the beginning of the August 2024 Monthly Meeting. To watch the entire video, you will have to sign up for he Club by clicking this link.

What’s the future of vintage condos - units at least 25 years old - in the tricounty South Florida region of Miami-Dade, Broward and Palm Beach?

This topic was discussed at the fourth Monthly Meeting of the Miami Condo Market Investing Club™ that was hosted online on Aug. 14, 2024.

Club founder Peter Zalewski - who is a former business journalist, Wall Street consultant, expert witness and licensed Florida real estate buyside broker - explained the three ways to differentiate condos - New, Used and Vintage - for resale purposes.

After comparing the resale stats for each category based on age, Zalewski also discussed some of the key 2024 revisions to the Florida Condo Law.

The topics are generating increased media attention as units in older condo projects are expected to face greater scrutiny in 2025.

A lot has changed since June 24, 2021 when the Champlain Towers South collapsed on the barrier island in Miami-Dade County. Nearly 100 people died and a $1 billion settlement was reached with the families of the victims.

Some industry watchers have compared it to an inflection point on par with the Category 5 Hurricane Andrew that devastated South Miami-Dade County in August 1992 and led to more stringent building code requirements in South Florida.

Since the 2021 collapse, older units are said to be tougher to sell, insurance prices are spiking year-over-year and association maintenance fees and special assessments are squeezing owners to the brink.

Zalewski also discussed the findings of a seven-part series examining how Florida condo living could change in 2025.

This is a 10-minute clip from the beginning of the August 2024 Monthly Meeting. To watch the entire video, you will have to sign up for he Club by clicking this link.

The objective of the Club is to create a community that shares realtime, actionable information on the latest real estate trends, opportunities and service providers in South Florida,

Besides real estate professionals, developers and lenders, the Club is also ideally suited for Do-It-Yourself (DIY) condo buyers who can utilize our latest statistics, expert opinions and access to consulting services.

We encourage you to listen or view our podcast wherever you get podcasts. Additionally, the podcast is available on Apple, Spotify and/or YouTube.

As a reminder, we are always available for consulting, expert witness work and buyside brokerage services just as we have been since 2006.

If you want more information on condo resale units, please visit CondoVulturesRealty.com or call the office at 305.865.5859.

This information is believed to be accurate and complete but cannot be guaranteed or warranted.

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