News about properties and real estate
‘Escrow’ has at least two meanings in real estate Q: I used to live in California where the word “escrow” referred to the closing of a real estate sale. For example, we said, “We’re in escrow for the sale of our house.” But then I moved to Florida where the term “escrow” seems to have …
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Tarragon, in Credit Crunch, Expresses Doubts on Future Apartment and condominium builder Tarragon Corp. raised doubts about its ability to remain in business amid weak demand and an inability to raise new financing, in the latest fallout from the spreading credit crunch. It also disclosed that the wife of the company’s chief executive sold stock …
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Miami condo units to be auctioned [South Florida] Panoramic views of Biscayne Bay. A short distance to the Carnival Center and downtown Miami. Living in the heart of Miami’s emerging Edgewater neighborhood. It’s all yours — for auction next month inside a Marriott Hotel ballroom. In what may preview the straits the ailing South Florida …
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Investors Compare Manhattan Buildings With T-Bills The tightening of underwriting standards and of the availability of capital seems not to have affected sales of residential apartment buildings across the five boroughs, as some had feared. The Katz family is the owner of two prize residential apartment houses on Park Avenue, including the 20-story, 116-unit rental …
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Bonfire Of The Builders By rushing into the mortgage business big-time, homebuilders helped fuel the housing crisis Elizabeth and Armando Motto are living a real estate nightmare with a new breed of monster: the big homebuilder as lender. In November, 2005, the couple, who have four children, agreed to pay $540,000 for a newly built …
Anxious home builders pile on incentives With the housing market looking increasingly frail, home builders and real-estate agents are going to new extremes to attract buyers, dangling lavish incentives and slashing prices. In Boca Raton, Fla., Gordon Homes is offering to pay two years of property taxes and insurance – worth as much as $150,000 …