NEW YORK (AP) — In Tampa, real estate industry experts say the froth is especially frothy when it comes to condo conversions turning to reversions.

Even when it was clear in December that the condo market was slowing, Ted Charron went ahead and bought a two-bedroom, two-bathroom condo in Tampa.

But he did not buy the condo to turn it for a quick profit. It was a long-term investment. He says there is a growing demand for rentals, a by-product of the condo conversions that have swept through metropolitan areas nationwide.

And researchers say those who bought apartment buildings and converted them to condos are reeling them back in, taking the apartments that didn't sell and converting them back to rentals.

Other markets that have seen reversions: Miami, Fort Lauderdale and Orlando in Florida; as well as Las Vegas, San Diego and Phoenix.

Source:
http://www.wtsp.com/news/local/arti...x?storyid=36988