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As the local real estate market decays, investors are looking to clean up.
Cooper Levey-Baker
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While the vulture might not be the most regal of animals, it’s important to remember that the species plays a role in the food chain. If and when vulture investors do descend on Sarasota and Manatee counties, they would help weed out some of the backlogged inventory, which is depressing prices. Plus, their arrival could be read as a signal that the market has truly reached its lowest point.Investors might prefer to call themselves opportunity funds rather than vultures, but Zalewski thinks the latter term is entirely appropriate. He did name his company Condo Vultures, after all. “It’s not a warm and fuzzy name,” he says. “It’s not a warm and fuzzy market.”
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