News about properties and real estate
Facing foreclosure? Consider a ‘short’ sale It’s often the better option for an owner than foreclosure — but there are pitfalls, including tax liability. Selling “short” is an alternative to foreclosure that has been gaining popularity as more homeowners default on their mortgages. Susan M. Wachter, a professor of real estate, finance and city and …
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Housing’s ills imperil condo deals Horacio and Patsy Parra cashed out two retirement accounts last year to buy an Orlando condominium they couldn’t afford. At the time, they weren’t worried. The developer, Cay Clubs Resorts & Marinas, agreed to lease back the $307,000 unit for 15 percent of the sales price — enough cash to …
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Builder charged with stealing $700,000 [South Florida] An unlicensed Palm Coast contractor was accused Thursday of stealing more than $700,000 and the American dream from Russian and Ukrainian immigrants by selling houses he never finished — and in most cases never even started. Gregory S. Bleyl, 64, was charged with six counts of forgery and …
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Competition Among Top Firms Heats Up In Still Solid Sector For High-End Real Estate There’s a new piece of ammunition in one of luxury real estate’s fiercest battles: a $34,000 trailer in Goleta, Calif. The home is for sale through Sotheby’s International Realty, a brokerage better known for oceanfront estates and country manors. The company …
$510 million Briny Breezes deal collapses A dream of riches, a shimmering city by the sea, a final battle for Florida. The story is over. At least for now. Two years after a wealthy suitor came courting, eight months after $510 million became too good a deal to pass up, and 17 days after the …
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Statewide bankruptcy involves condo [South Florida] In Southwest Florida, Warren Hickernell was the king of condo conversions. But his $60 million in deals to convert motels rooms and apartments from Manasota Key to Anna Maria Island was child’s play compared with the more than $200 million in apartment building conversions that Hialeah businessman Juan Puig …
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