News About Properties

News about properties and real estate
September 25th, 2014

How Iran sanctions nearly sank Phoenix woman’s condo deal

A Phoenix woman’s home purchase nearly was derailed after Wells Fargo froze her checking account and stopped her down payment from being delivered to an escrow account.

The reason for Wells Fargo’s actions last month? U.S. trade sanctions with Iran.

Neda Tavassoli, born and raised in the United States, is among dozens of Iranian-Americans whose finances have been frozen and whose accounts recently have been closed without warning or explanation by U.S. banks in response to federal rules prohibiting financial transactions with Iran.

“It has created a pervasive sense of discrimination. … We’ve seen countless cases where accounts are closed or restricted without advance warning,” said Tyler Cullis, a legal fellow and policy associate for the National Iranian-American Council. “The Treasury Department is asking banks to police regulations themselves.”

via How Iran sanctions nearly sank Phoenix woman’s condo deal.

September 25th, 2014

Paltrow sells oceanfront house for $7.27 million

Palm Beacher Robert W. Paltrow, who is awaiting sentencing for filing false tax returns, has sold his 1928 seaside house on North Ocean Boulevard for more than $7 million.The house, at 1250 N. Ocean Blvd., sold for a recorded $7.27 million, records show.

Marsha Cross Beeson, of Houston and Palm Beach, bought the six-bedroom, three-story residence and its beachfront pavilion on the other side of the coastal road, according to the deed. Beeson is described in publicly available records as a design professional and is married to Houston real estate investor John Beeson. He has owned a North End house in his name since 2004.

via Paltrow sells oceanfront house for $7.27 million.

August 19th, 2014

Most Orlando luxury home transactions are cash sales

The buyer who purchased Dwight Howard’s estate in Seminole County last month wasn’t the Orlando market’s only luxury seeker to come with cash in hand.

The NBA star had three cash offers on his lakefront mansion, which sold last month for $3.4 million — $1.5 million less than the asking price.

Of the 20 Metro Orlando homes that sold for $2 million or more during the second quarter, 12 of them, or 60 percent, went for cash, according to a new study by the real estate research firm RealtyTrac. Nationally, 45 percent of buyers in that price range paid cash during the period.

via Most Orlando luxury home transactions are cash sales.

August 19th, 2014

Landlords, house flippers find new sources of cash to buy houses

Orlando landlord Brian Lunsford needed $40,000 to renovate a house that a college student almost burned down, so he turned to an online crowdfunding site.Within two days, more than a dozen investors had each agreed to loan him an average of $2,800 for up to 13 months.

Crowdfunding is just one new financing option that has emerged in a metro area where 56 percent of all home sales were paid for with cash in May, according to RealtyTrac. Recognizing that community banks and institutional lenders are reluctant to loan money to house flippers and landlords, several companies have started offering cash to real estate entrepreneurs in the Orlando area.

via Landlords, house flippers find new sources of cash to buy houses.

August 10th, 2014

Residents concerned about Catholic Diocese’s development plans in rural pocket of Seminole County

From her backyard, Beverly Myers has a good view of one of the largest tracts of undeveloped land in Seminole County’s core urban area.Hundreds of acres of woods and pastureland owned by the Catholic Diocese of Orlando wraps around the southeastern shore of Lake Howell, home to eagles, hawks, large oaks and a few wild boars.

Catholics regularly visit the San Pedro Center on a portion of the property for weekend retreats.But now Myers and her neighbors are alarmed about the diocese’s plans to build 400 homes; 500 apartments and condominiums; a 450-bed assisted-living facility; a 110-room hotel; shops; and a cemetery on the land just north of Howell Branch Road and west of Dike Road near Winter Park.

via Residents concerned about Catholic Diocese’s development plans in rural pocket of Seminole County.

July 20th, 2014

Communities in West Boca seek to ban government rental assistance

Home prices are up, long-vacant houses have families moving in, but fear of what the future might bring has prompted some of the homeowner associations in the unincorporated area of West Boca to limit who might move in.

Some of the 125 master homeowner associations have either banned or are considering a ban on a certain kind of renter — those who pay with the help of Section 8 government housing assistance.

Earlier this year, Boca Winds outlawed Section 8 housing in its community of 800 homes. Boca Falls residents are currently voting on the issue, and a subdivision of the mammoth Logger’s Run, Winding Lakes Estates, is considering whether to ask residents to vote on a ban.

via Communities in West Boca seek to ban government rental assistance.

Next Entries »
Western Union