News about properties and real estate
In slow market, developers offer ‘test drive’ of condos The Carruth, a mix of affordable apartments and market-rate condominiums in Dorchester, opened earlier this year, as the market for condos had turned sharply downward. Sales of the 42 condos in the building languished, with only three sold to date. So, developer Trinity Financial Inc. of …
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Short sales help make home buying a reality Three years ago, home ownership for Stephen and Cassie Treap seemed as likely as winning the Florida Lotto, because home prices were far above what the family of four could afford. It’s getting more difficult to remember, but it was only three years ago this month that …
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New Citizens discounts kicking in for condos [Florida] Local condominiums will see significant savings on their insurance premiums starting Monday. Citizens Property Insurance Corp., which insures many of the condominium buildings in the state, is doubling the hurricane mitigation discounts for condo buildings with a replacement cost of $10 million or less, as policies renew …
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Do you need flood insurance? [Central Florida] You’ve seen the angst as hundreds of Central Florida homeowners try to battle the rising waters in Tropical Storm Fay’s aftermath. Hundreds of homes are flooded and evacuated. More people still are anxiously watching the rising St. Johns River. Folks such as Hans Anderson, who lives on Lake …
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Evans Report: Palm Beach condo sale prices fall, but homes rise [South Florida] Single-family homes in Palm Beach continue to be immune from the nationwide downturn in real estate prices. But even a Palm Beach address isn’t protection enough against the deflating value of condominiums. That’s according to the Evans Report, a closely watched real …
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Restructuring of mortgage loans gets tougher In January, loan analyst Moe Bedard noticed a promising development in the mortgage-servicing industry: More lenders started restructuring distressed borrowers’ loans to avert foreclosure. But in the months that followed, the trend reversed. “Now, it’s even harder to get a modification than it was five months ago,” said Bedard, …
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