Big dreams for hotels are falling flat After the residential real estate market peaked in the summer of 2005 and the commercial market began to cool a year later, hotels enjoyed a brief period in which they were viewed as the hottest commodity in a rapidly shrinking real estate world. Developers of all dimensions announced …
Monthly Archives: May 2009
At Estates of the Fabulously Rich, Gilded Era Is Going, Going, Gone
At Estates of the Fabulously Rich, Gilded Era Is Going, Going, Gone Richard and Amanda Peacock spent five years building their dream home, a 10,000-square-foot, orange mansion overlooking the ocean here. They filled it with leopard-skin chairs, pinball machines, antique Coca-Cola signs and six sports cars. It had a room full of 100 hunting trophies …
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More high-end properties sitting on the market
More high-end properties sitting on the market After 14 months on the market and about a $1.2 million price cut, a large, newly built home in the Oakland hills is on the verge of selling, assuming the bank allows it to trade for less than what’s due on the loan. The approximately $950,000 “short sale” …
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Fear and Uncertainty Grows As Tainted Drywall Surfaces
Fear and Uncertainty Grows As Tainted Drywall Surfaces As the number of new homes and condominium communities affected by tainted drywall continues to rise, fear and uncertainty among residents, owners and potential buyers in Southwest Florida are growing. Much remains unknown about where defective wallboard from China was actually used. The idea that American manufacturers …
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Troubled Palm Beach Mall late on water and power bills, threatened with shut down over public safety [South Florida]
Troubled Palm Beach Mall late on water and power bills, threatened with shut down over public safety [South Florida] The Palm Beach Mall, already facing a $55.4 million foreclosure suit, was hours away from having its electricity turned off this month because it had not paid its bill to Florida Power & Light, according to …
L.A. may test loan program for troubled Pacoima homeowners [Southern California]
L.A. may test loan program for troubled Pacoima homeowners [Southern California] The Los Angeles City Council is poised to vote today on a plan to help distressed homeowners in the northeast San Fernando Valley by putting up city money for “silent second mortgages” that could encourage financial institutions to modify home loans. The pilot program …
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