News about properties and real estate
Consumer Advocate: Look before you leap into a reverse mortgage The reverse mortgage – available to homeowners 62 and older – has met criticism lately from federal regulators and consumer advocates who say aggressive sales tactics are pushing the loans on consumers who don’t fully understand the consequences. The National Reverse Mortgage Lenders Association has …
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First-time homebuyers: For many, $8,000 tax credit proves nearly impossible to get This summer, Brian Smith decided he should buy a house. The 35-year-old was in the break room at his Maitland office talking to a friend about the idea, and the timing seemed perfect. Prices were at record lows; “for sale” signs were common, …
Fraud case tied to escrow checks Mark Brady seemed to have it all during the real estate boom — two title companies, BMWs, a Hummer, powerboats, a $2 million home on Merritt Island, an oceanside condominium in Cape Canaveral and three other riverfront properties. Then, two days before Christmas, Brady was arrested — charged with …
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There’s a new player in South Florida’s condo market Starwood Capital Group will wield new influence over South Florida’s condo market after it won an auction bid for the Corus Bank condo portfolio from the FDIC. South Florida’s battered condo market just got a major new player. Starwood Capital Group’s deal to acquire a big …
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One of our best-kept secrets: Renting Dear Bruce: Can you tell me your thoughts on owning versus renting? My girlfriend thinks that renting is throwing money out the door. I think that there are more costs to owning than she realizes. — Mike, via e-mail Dear Mike: I don’t know what your girlfriend is thinking …
Real estate flippers back in South Florida, but this time they could help The flippers are back. Bolstered by swelling foreclosures and bottomed-out prices, investors are returning to the South Florida real estate market, snapping up distressed homes with cash payments for either a quick turnaround or a short-term rent-then-sell investment. Unlike the speculative flippers …
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