Flipping in FloridaDean Foust
The latest sign of the Apocalypse: In south Florida, where housing speculation is white hot, some entrepreneurs have unveiled a pair of Internet-based exchanges – USCONDEX.com and CondoFlip.com -- where individuals can buy or sell condominimums sight unseen. USCONDEX.com, charges condo developers $2,500 a month for each project they want to have listed on the exchange, and then allows prospective buyers to negotiate with the builder via the site. (Later this year, the site will host live auctions.) The other site, CondoFlip, was designed to enable purchasers of as-yet-unbuilt Miami condos find a secondary buyer to whom they can flip the condo for a profit.