News about properties and real estate
Fifth Third works to turn around troubled Florida loans The more Mike Trombley heard about the Cay Club development in Clearwater, Fla., the more he liked the idea of investing in it. The sales pitch he got in late 2004 was the clincher: Buy now and get in on a luxury 5-star resort featuring renovated …
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Miami’s Fisher Island Enjoying an Uptick in Uber-Lux Condo Sales According to several local real estate professionals, the ultra-wealthy residential island community of Fisher Island is experiencing a strong increase in sales activity in the latter half of 2009, amidst a tough real estate economy for most. Fisher-Island-and-South-beach-Miami-Florida.jpg Phyllis Winick, on-island broker of Fisher Island …
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Condo buyers allege flipping scheme Back in 2007, Steven and Joan Haber paid $260,000 for their retirement home in Charlotte County, a short drive from the multimillion-dollar beachfront estates of Boca Grande. The Condominiums at Waterside seemed like a steal. Within 18 months, the buildings were sold out and the newest units were fetching record …
The cat’s out of the bag as to names of delinquent neighbors Q: We have been advised that two owners in our condo association have not paid their assessments. Their names and addresses were listed in the notice sent to all owners. We were advised the board has spent over $8,000 in legal fees for …
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CDD defaults may be disaster for a swath of homeowners [Tampa Bay] More than 50 of Tampa Bay’s community development districts are in or near default, a condition that could have serious ramifications for thousands of homeowners across Tampa Bay and accelerate the decline of already troubled Florida banks. Developers use CDD bonds, or “dirt …
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Reason not to foreclose quickly Q: In today’s real estate market it may not be wise to foreclose. Lien, yes. Against my opinion, my board foreclosed and now is responsible for trying to sell a home in the community of 1,100 homes. The board, of course, is footing the bill for upkeep and paying all …