Published by Peter Zalewski
7/1/2024 
11:20:09 PM The Florida Representative whose district is comprised of most of the condo towers in Greater Downtown Miami and all of the projects in Key Biscayne is advising buyers not to purchase a unit for at least 18 months.
Florida Rep. Vicki Lopez (R – District 113) said there is a lack transparency about the state mandated Structural Integrity Reserves Studies (SIRS) – and the related funding plans that will likely be paid for with new special assessments – that are required to be completed by 2025.
“I’m telling people not to buy a condominium now,” Lopez told WLRN’s “Florida Roundup” host Tom Hudson during the June 28, 2024 episode. “Wait for things to settle down. Wait for the assessments to be, you know, clarified. Wait until you have more information. I believe that by 2026 everyone will know what they’re buying.”
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Condo Market Inventory Tracker
A Snapshot Of Tricounty South Florida Region Of Miami-Dade, Broward And Palm Beach
| Databases | Active Listings | Months Of Supply |
|---|---|---|
| Condos | 24,016 | 10.2 |
| Luxury Condos | 3,740 | 15.1 |
| Shortsales | 30 | 15.0 |
| REOs | 126 | 6.6 |
| Rentals | 21,476 | 3.9 |
Peter Zalewski is a licensed real estate broker and consultant focused on the South Florida condo market. Zalewski is a former special contributor to the Miami Herald and a former real estate columnist for The Real Deal magazine. Zalewski now hosts the Miami Real Estate Investing Podcast that is available in audio and video wherever you get your podcasts.
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