Developers have sold 85 percent of the condos built in South Florida during the building boom beginning in 2002, according to a report released this week by Bal Harbour-based consultancy Condo Vultures. The report, which studies condo markets from South Beach to West Palm Beach, found that developers have sold 41,258 condos in the last …
Monthly Archives: January 2011
Churches Find End Is Nigh
Residential and commercial real-estate owners aren’t the only ones losing their properties to foreclosure. The past few years have seen a rapid acceleration in the number of churches losing their sanctuaries because they can’t pay the mortgage. Just as homeowners borrowed too much or built too big during boom times, many churches did the same …
New real-estate sales tax is on the way Realty Q&A
Question: I am one of those anal-retentive people who starts working on his tax returns before the tax year even comes to an end. But forget about 2010. I have heard that there is a new real-estate sales tax for 2011. What do you know about that? —K.J.S., Laurel, Md. Answer: Not a lot, if …
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Low prices spur sales at Riviera high-rise
Four years ago, the Marina Grande condominium in Riviera Beach was among the first Palm Beach County condos to experience the buyers’ remorse crowd. As the market for flipping real estate died during early 2007, dozens of investors at Marina Grande scrambled to try to undo their pre-construction contracts. Now Marina Grande is finding popularity …
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The Best And Worst Cities For Home Values In 2011
Poor Florida. The state that is home to Disney World, key lime pie and the Daytona 500 hasn’t had much to crow about when it comes to real estate in recent years. Sorry to break it to Sunshine Staters, but they shouldn’t be expecting a rebound anytime soon either. That’s according to Local Market Monitor …
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Furniture mart boss hopeful
The three giant towers, which cover about 5 million square feet, house showrooms for furniture manufacturers and representatives that try to land orders from the retailers attending the market. Most of the showrooms are dark for all but two weeks a year. The agent representing the lenders in reworking the $557.1 million in mortgages on …