News about properties and real estate
Two Projects in Default Dog Big Home Builders [Las Vegas] Two massive housing developments in Las Vegas, involving several of the nation’s largest home builders, have received default notices on about $765 million in debt, according to one of the partners in the projects. John Ritter, chief executive of Las Vegas-based Focus Property Group, says …
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Make money by buying right in today’s down market Successful real estate investors often say “money is made when you buy.” There is truth to this because real estate values are based on what similar properties are currently selling for. Therefore, buying “under market” gives you potential for an immediate profit. But wait! Exactly what …
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’08 foreclosure rate is on way to a record Foreclosure action in the first two months of 2008 was nearly three times greater than at the same time last year in Manatee, Sarasota and Charlotte counties. The 3,683 legal actions so far this year — actual lender takeovers, notices of delinquency and other advance warnings …
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Tight credit spurs rentals There is a bright spot growing in the long-beleaguered rental market. Occupancy rose 3% last year at the 1,600 units in metro Detroit owned by Kaftan Enterprises, said owner Jeffrey Kaftan, who also is president of the Apartment Association of Michigan. “The apartment market has really been hurt for the past …
Bargains in Condos Over the past several years, condos — both newly built towers and converted apartments — sprang up like mushrooms after a spring rain. Now, the market is glutted and buyers are scarce. The National Association of Realtors reports that in November (the most recent data available), a 13-month supply of condos clogged …
South Floridians turn to alternative home insurance With major insurers poised to shed more property insurance policies this year, Florida residents will be shopping for alternatives. Two little-known options expected to become more popular are surplus-lines companies and self-insurance pools. Surplus lines and condo self-insurance pools aren’t subject to Florida rate regulations, so they may …
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