Condo Expert Peter Zalewski Appears On Miami Community News Real Estate Show
The weekly 'Miami Hal Real Estate Show' with host Hal Feldman featured Peter Zalewski for a discussion about Florida's 2025 Condo Association Financial Cliff.
It seems like everyone in Miami wants to discuss Florida’s 2025 Condo Association Financial Cliff as the deadline is less than five months away.
In the first of at least four appearances in the next 90 days, Peter Zalewski, founder of the Miami Condo Market Investing Club™, appeared on the live broadcast of the weekly “Miami Hal Real Estate Show” program with host Hal Feldman. The show was produced from the Miami Community News studio and newsroom in South Miami.
The 42-minute episode - which was extended beyond the normal 30-minute timeslot - discussed a variety of topics, including Structural Integrity Reserve Studies (SIRS), latest revisions to the Florida Condo Law and the resale market for new, used and vintage units.
In addition to a growing number of media inquiries from the local, state and national media, Zalewski is scheduled to speak at a variety of different panel discussions in September, October and November.
Zalewski has been booked to participate in a panel discussion in September being hosted by the Miami Herald and WLRN. In October, Zalewski is scheduled to speak to the Aventura Marketing Council Chamber of Commerce. In November, Zalewski has agreed to take part in a panel discussion presented by the Miami Construction Forum.
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.
In response to the Surfside disaster, Florida is requiring associations that govern older condo projects to study the structural integrity of all buildings on their properties and begin funding the necessary repairs by January 2025, ending the practice of deferring work and costs.
People are dubbing this moment as the 2025 Condo Association Financial Cliff.
Industry watchers are at odds as to the direction of the South Florida housing market through the end of 2024 and into next year.
Bullish investors are predicting housing demand will reignite once the Federal Reserve begins to cut interest rates.
Bearish investors contend that condo prices are too high from the run up in work-from-home buyers during the pandemic years and likely to collapse in the months ahead if the economy slows and these transplants leave South Florida.
To stay abreast of the volatile South Florida condo market, we would encourage you to join the newly launched Miami Condo Market Investing Club™.
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,
The Club is also ideally suited for Do-It-Yourself (DIY) condo buyers who can rely on our latest statistics, expert opinions and access to consulting services.
Additionally, 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.
For South Florida condo resale information, please call 305.865.5859 or visit CondoVulturesRealty.com
This information is believed to be accurate and complete but cannot be guaranteed or warranted.
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