News about properties and real estate
Developer Ross Says Real Estate At ‘Best Moment’ in History Wall Street is jittery about the fallout from a meltdown in the subprime lending industry, a slowdown in consumer spending, and a sagging retail sector. But for master developer Stephen Ross, the chairman, chief executive officer, and founder of the Related Cos., the economy couldn’t …
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Florida lawmakers want to help renters with cuts in property taxes The more than 850,000 residents of Broward and Palm Beach counties who rent their homes would benefit by changes key lawmakers say they are now willing to make to the tax cut plans taking shape in the Legislature. Until now, many Republican lawmakers had …
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Bad houses, busted loans? For Midlands investor, it’s all good When mortgage lenders get stuck owning dilapidated houses in shabby neighborhoods, they often call James Odell Barnes. Barnes works the rock bottom of the housing market, what his lawyer calls the “sub-subprime market.” He and his partners buy foreclosed homes by the dozens, sight unseen, …
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Casinos continue to push up property prices in Eastern Connecticut As Mohegan Sun at Pocono Downs jump starts property values near the new casino in northeastern Pennsylvania, local casino leaders and real estate officials say real estate here continues to benefit from the gaming industry. Norm Krayem, proprietor of Realty Estates in Groton and president …
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Real estate brokers struggle to resurrect churches Faced with a smaller congregation, the Second Church of Christ, Scientist, in Sacramento, Calif., is up for sale. Church members hired a real estate broker in December and priced their two buildings on 15,000 square feet at $1.4 million. Two months later, Leigh Nurre faces one of the …
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First-time homebuyers walk into financial trap Two years ago, Luis Mapula was living in a converted garage with his wife and two daughters, earning $54,000 a year as a fence company construction worker. Then, almost like magic, he became the owner of a $543,000 home with no down payment. Situated on a quiet cul-de-sac off …
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