News about properties and real estate
Square Feet – Long List of Commercial Properties Face Distress For many months now, the commercial real estate industry has been grim about its future, but it has been hard to quantify just how bad things are. The default rate for loans packaged into securities and sold on Wall Street has remained well under 1 …
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More ways to profit from market downturn Still shedding tears over your mansion’s declining value and your beaten-down stocks? Edward Mendlowitz, CPA and partner with the New Brunswick, N.J. accounting firm, WithumSmith Brown, says his wealthy Florida clients have been benefiting from the economic downturn. How? They’re getting assets out of their taxable estates in …
HOAs cry foul over foreclosures Local homeowners’ associations and condo boards say banks are unfairly getting a break on how much back dues they have to pay when they take back a home in foreclosure. That’s resulted in financial pain for some associations and helped drive others to the brink of collapse. But bankers say …
Bargains drive up home sales in Palm Beach County [South Florida] Even as job losses mount and mortgage lending remains tight, South Floridians still are buying homes. Bargain hunters continue to respond to plunging prices, with October sales of existing homes in Palm Beach County rising 37 percent, to 618 from 450 a year ago, …
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Census details North Port housing excess [South Florida] Only five cities in the nation built housing at a faster rate than North Port since 2005, according to new U.S. Census data showing just how overheated the city’s housing boom was. In fact, North Port added more housing in the past eight years than in the …
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Siesta Key resort operator goes after lender Like practically every major real estate investor in the region, Richard Dear is reeling from the multimillion-dollar decisions he made during the boom. The Siesta Key vacation rental operator has defaulted on eight loans totaling $10.8 million since June, and sought Chapter 11 bankruptcy protection in September for …