Condo King Corus Weighs Its Options The bank that funded a big part of the condominium boom is considering selling all or part of itself as rising defaults force it to seek capital. Corus Bankshares Inc., a symbol of the exuberance for glass-and-steel condo towers from Miami to Los Angeles, reported a $260.7 million quarterly …
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Proposal: Pay fee, skip condo-conversion line [Northern California]
Proposal: Pay fee, skip condo-conversion line Waiting to go condo is San Francisco’s version of waiting for Godot. Building owners can spend years vying for one of 200 condo-conversion slots awarded annually via a lottery. But this year San Francisco is considering letting people skip the line, offering a one-time chance to the hundreds of …
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Finding Funding for a Real Estate Venture
Finding Funding for a Real Estate Venture Q: I recently started a small business of buying and rehabbing homes for rental to the incoming military in the area. The banking crunch has halted our purchases as of now. I am looking for funding to complete the homes already purchased. Is there help out there for …
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Want a green card? Pay $1M for stake in Orlando-area condo hotel [Central Florida]
Want a green card? Pay $1M for stake in Orlando-area condo hotel [Central Florida] Condominium hotels were among the first real-estate investments to go sour as the housing market slumped and, later, the credit markets seized up. But Lake Buena Vista Resort Village & Spa is hoping the lure of permanent U.S. residency will eventually …
La Via Units Sell for $55,000 Each [South Florida]
La Via Units Sell for $55,000 Each [South Florida] A foreign investor has purchased 26 units at the La Via Condominium complex in Pembroke Pines for just over $1.4 million, or $55,000 per unit, in an all-cash transaction. Atlanta-based Apartment Realty Advisors Inc., which arranged the sale, expects to see more such fractured condo purchases …
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Con artists take advantage of homeowners in trouble
Con artists take advantage of homeowners in trouble As tens of thousands of Los Angeles County residents lost their homes to foreclosures in recent years, a Van Nuys businessman and his associate knocked on doors and mailed out fliers offering “Foreclosure Relief Services” to desperate homeowners. The two men, ages 59 and 71, allegedly told …
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