News about properties and real estate
Tringali lenders acting on his debts [South Florida] Three more banks have foreclosed on property or forced him to sell. The house of cards that Neil Mohamad Husani and Michael Tringali built during the height of the real estate boom has finally been flattened. Three more banks that lent Tringali $28.5 million between June 2005 …
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Apt. Market In Flux: After Strong 2006, Competition’s Rising Apartment owners just enjoyed one of their best years in recent memory. But growing competition for renters could inflict short-term pain on the industry. Rents rose 4% last year nationwide, the biggest jump since 2000, when the dot-com boom’s job-creation juggernaut contributed to an 8% increase …
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3 paths to take when facing foreclosure DEAR BOB: I’m behind on my mortgage payments and probably will be foreclosed. People have told me to (1) do a “short sale” of the property, (2) give it back to the lender with a deed in lieu of foreclosure, or (3) proceed to foreclosure and then file …
South Beach’s National gets new owner The National Hotel changes hands, but don’t expect any rooms to go condo, a source says. But remodeling is planned. A French real estate investor has purchased South Beach’s National Hotel for an undisclosed sum, offering a glimpse of the lodging sector’s increasing popularity at the expense of condominium …
Builders mimicked CCI and survived [South Florida] A Fort Myers builder got loans from many banks; CCI only tapped Coast. The idea of buying houses in Southwest Florida with no money down and making tens of thousands of dollars by selling them before construction was even done obviously appealed to a lot of investors nationwide. …
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Diversification secret to success in property investment It was late November in 2005, and Dan and his wife saw what they thought would make a good holiday gift to themselves within a year or so. They picked out a condo they liked, that seemed like it would return a handsome profit in short order. After …
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