News about properties and real estate
Centereach woman’s home foreclosure is reversed She’s already been home for the holidays. Now, all Janet Beck needs to make that home officially hers again is a new loan in the new year. Three months ago, Beck’s home on Alden Lane in Centereach was foreclosed upon, even after she said she did everything she was …
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Credit Downturn Hits the Malls The credit crunch triggered by the downturn in the housing market is creating problems in commercial real estate, driving down prices of office buildings, shopping malls and apartment complexes, and leaving some owners scrambling for cash. One victim is Centro Properties Group, the fifth-largest owner of shopping centers in the …
Dealing with those holdover tenants The question of “holdover” comes up often with commercial properties that we manage for our owners. This will occur when the original lease agreement has expired or terminated and the tenant does not have any option to renew contained in their original lease agreement. In its simplest definition, it is …
Banks big buyers at Prewett auction Energy levels were high at former investment adviser Daniel Prewett’s Dec. 13 bankruptcy auction. The Osprey Inn was bursting with more than 500 people, and the night concluded with all properties on the block being sold. At first, it seemed the auction was revealing something about the real estate …
Retirement plan interrupted When Patty Marquez graduated from the University of Minnesota more than five years ago and moved to Southern California, she thought about buying a house. But with prices already sky-high in the Southland market, “I was scared,” says Marquez, now 31. So she rented for more than four years. But all along, …
Homeowners with forgiven loan debt get timely tax break Families who lost their homes to the foreclosure crisis this year will have at least one reason for cheer this holiday season: They won’t have to worry about a big tax bill. Shortly before adjourning last week for the year, Congress approved a tax-relief bill designed …
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