Many markets, such as Florida, California and New York, are seeing a surge of foreign buyers. One luxury condo complex in Miami Beach says a growing one-third of such buyers are snapping up homes at bargain prices. Last week, a story on cash buyers quoted a Realtor in Napa Valley noting particular interest from Chinese …
Monthly Archives: February 2011
Council backs down on Majestic Cove
The Sebring City Council, in a 4-1 vote Tuesday, decided not to pursue legal action against the developers of Majestic Cove because it figured it had no legal grounds to sue the company.The problem, the council members said, lay in the wording of the city’s development agreement, dated Nov. 15, 2005, with the developer.Council decided …
Buyers Face Gamble With Rising Mortgage Rates
February is when potential home sellers start painting walls beige and cleaning out closets, preparing for the spring homebuying season. But sellers got some unnerving news last week: The interest rate on a 30-year mortgage jumped up to a level not seen since last April. In November, the average rate slipped to a 40-year low …
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Development returns to beachside
A labor of love, an economic boost and a local link to a world of travelers: the newly opened Royal Floridian South Tower is all of those. The first new beachside construction project since 2006, the 53-unit structure is the latest addition to Spinnaker Resorts, owned by Ken Thomas. His 10 resort properties include six …
Delano to expand outside U.S.
Morgans Hotel Group, owner of the famous South Beach boutique lodging pioneer, announced Thursday that it had signed hotel management agreements that will expand the Delano brand to Mexico and Turkey. The 114-room Delano in Cabo San Lucas, on Mexico’s Baja Peninsula, is under construction and expected to open in early 2013. In Turkey, the …
Neighborhood profile: More than 1 in 8 homes in Canyon Isles, west of Boynton Beach, in foreclosure
You don’t have to be a dedicated Real Time reader to know that residential real estate in Palm Beach County has taken a historic tumble in recent years. But while most coverage focuses on a broad view of the market, every neighborhood’s real estate story is unique. Today we’re starting a series of posts focusing …