News about properties and real estate
Several years ago, we were talked into getting what I believe was a predatory loan – a negatively amortizing mortgage for 100 percent of the purchase price of our home. The loan broker assured us we could refinance the following year to a more traditional mortgage. We paid the minimum monthly payment required, which didn’t …
Continue reading “Law exempts forgiven foreclosure debt from income on tax return”
Condominiums, like homes, are selling at a healthy pace in Southwest Florida, but the median sales price continues to give ground — the result of more realistic sellers and a greater mix of units at the low end of the market and distressed properties. Sales during November rose 7 percent in Sarasota-Bradenton and 19 percent …
Continue reading “Condos selling, but prices continue to fall”
Florida Supreme Court Chief Justice Charles Canady shut down the state’s 2-year-old foreclosure mediation program Monday, after low success rates and criticism from both lenders and borrowers deemed the program unsustainable. The court system, which has faced a torrent of foreclosure cases in the past several years, has seen its budgets cut and staff reduced. …
Continue reading “Florida justice shuts down foreclosure mediation program”
An unexpected increase in Chinese property buyers is moving Singapore’s real-estate market, in the latest sign of the effects of Chinese money elsewhere in Asia. For years, Indonesians and Malaysians were the dominant foreign property buyers in Singapore, a rich Southeast Asian city-state that is widely regarded as one of the safest places in Asia …
Continue reading “Chinese Property Buyers Boost Role in Singapore”
Jeannette Boccini thought she had found a great renter, someone who would take extra good care of her townhouse. Then the nightmare began. The tenant repeatedly harassed the neighbors, complained that the wood chips in the community playground were toxic, and informed Ms. Boccini on Christmas morning that someone was playing Christmas carols too loudly. …
Netscape founder Jim Clark just scored big in real restate. He sold last week his penthouse in Miami Beach for what is believed to be a record for a condo south of Manhattan: $21.5 million! While the sale has yet to show up in public records, SouthBeachCondoBlog.com reports the deal for the 5,803-square-foot, 40th-floor penthouse …
Continue reading “Netscape Founder Jim Clark Makes a Mint on Miami Beach Condo Sale”