News about properties and real estate
Condo complex goes back to lender [Southern California] A 280-unit Oceanside condominium complex from one of the county’s most prolific condo converters has been taken over by its largest lender. Developer Maisel-Presley agreed to hand the keys to the River Oaks project over to Bank of America last month after the bank initiated a foreclosure …
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Orlando homes sell at rate shy of record [Central Florida] The area still saw its 2nd-best year, with more transactions in 2006 than in ’04. Orlando’s hot housing market lost much of its spark in the second half of 2006, though the year still wound up as the second-best on record for local existing-home sales. …
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Builder faces $7M foreclosure [South Florida] Owner of J&J Homes is in an interest rate dispute over a mortgage on Venice acreage. Sellers are foreclosing on a 141-acre property owned by Jacques Cloutier, the head of one of the region’s oldest and most prolific home builders, J&J Homes. A consortium led by Dr. Robert E. …
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Commercial deals heat up The most recent deal: Glendale, Calif.-based real estate investment trust PS Business Parks (Amex: PSB, $69.43) edged 15 other bidders to acquire Boca Commerce Park and a portfolio of light industrial properties in Wellington. “We had institutional interest, private interest, condo converters both locally and from all over the country,” says …
Suspect in Yonkers doctor’s slaying had financial setbacks The suspect in last week’s killing of Dr. Leandro Lozada had suffered a number of recent financial setbacks, and foreclosure proceedings were filed against him on the same day that he sold the house on Brendon Hill Road where the slaying occurred. Samuel L. Saunders, 59, borrowed …
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Mortgage Applications Up as Home Buyers See a Break in Rates Low mortgage interest rates are buoying the housing market even as experts are debating whether the market has hit bottom. The recent decline in rates has been relatively small, and there is still concern that the slump will worsen in the spring when more …
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