News about properties and real estate
Arena developer angling for time [South Florida] The company behind the partially built arena in Lakewood Ranch has sought Chapter 11 bankruptcy protection in a move company officials say will buy them time to find financing and jump-start the stalled project. The filing Friday by DVA Arena led to cancellation of a foreclosure sale of …
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Local men charged in $83M bank fraud [South Florida] Three Sarasota men and one from Tampa are facing numerous federal charges that they bilked banks out of almost $83 million on several land sales in Manatee and Sarasota counties. A federal grand jury in Tampa has returned a 47-count indictment against Neil Mohamed Husani, 38; …
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Mortgage failures up as home prices fall As the economy worsened in June, the number of homeowners behind on their mortgages nearly doubled, contributing to prolonged pain for the South Florida housing market. Meanwhile, interest rates on home loans soared this week to their highest point in a year, meaning borrowers looking to buy a …
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How gifting real estate into a trust can set up your retirement Question: Wow! Do I wish I could talk to that family (in your April 3 column)! I just assisted a couple with a charitable remainder trust that saved all the capital gains on a $1.2 million dollar home, gave them $600,000 in cash …
As Foreclosures Mount, Condo Associations Battle With Lenders As bills mounted and revenue shrank, the board of Miami Beach’s luxury Bentley Bay condo knew it had to take drastic action. Facing a spike in delinquencies and the need to pay the bills, the Bentley’s condo association opted to take a hard line with lenders that …
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Real estate president buys out developer Sky Sotheby’s President Chad Roffers is buying the equity stake in the firm owned by developer Marvin Kaplan. Terms of the arrangement were not disclosed. The deal is expected to close this week, Roffers said. It marks the second time this year that Roffers has closed ranks in ownership …