News about properties and real estate
Michael Gatlin built his three-bedroom home in Flushing, Mich., with his own two hands.At 3,000 square feet, it had plenty of room for his two young boys. The home sat on nearly an acre of land — or snow, depending on the season — and the kids took advantage of every inch.Gatlin recalls summer days …
Continue reading “To track housing recovery, follow the cash trail”
The City Commission’s rejection of Walmart’s plans to develop a supercenter on Ringling Boulevard may end up being but a small episode in a prolonged effort that could involve litigation by the Arkansas-based merchant. “They have three options now,” said city attorney Robert Fournier. “Walk away, try a different approach to see if they could …
Spiraling maintenance fees at co-ops are becoming a major headache for some owners — driving some of them to cheaper pastures. Annual maintenance fees per room on the East Side rose from an average of $3,457 to $5,606 from 2001 to 2011, according to the Council of New York Cooperatives and Condominiums. On the West …
Continue reading “NYC co-op owners priced out by soaring maintenance fees”
A group of lenders has agreed to make the first major construction loan for a condominium project in the Miami area since the crash, marking a milestone in the recovery of real-state financing market for condos. Loans to build condo towers were common during the boom years, but the downturn left Florida with an enormous …
Gibraltar Homes, which has been struggling financially amid a general rebound in housing starts regionwide, this week completed terms of a gradual debt write-down tied to an unfinished Manatee County project. Bougainvillea Place, an Ellenton subdivision, represents the homebuilder’s largest community under development. It also sells homes in Lakewood Ranch, also in Manatee County. The …
Continue reading “Builder Gibraltar Homes relieved of debt’s pressure”
Home remodeling projects across Southwest Florida are on the rise, spurred on by a thin supply of houses for sale and an overwhelming number of underwater mortgages that have made it difficult for some homeowners to move.The trend has put hundreds of subcontractors in Southwest Florida back to work, boosted revenue for home improvement retailers …
Continue reading “Remodelers are busy again in Southwest Florida”