By choice or by force, more and more people in South Florida’s foreclosure-ridden housing market are renting, rather than owning, their homes. In an ironic twist on economics, that dynamic is actually helping the resale market. According to sales reports released Thursday, South Florida is on track to set a new sales record this year. …
Author Archives: Administrator
Ask a real estate pro: Short sale or bankruptcy? – South Florida Sun-Sentinel.com
Board-certified real estate attorney Gary M. Singer answers housing questions in this space each Friday. Q: I am elderly and got involved with a rental property with the help of a family member. Now the family member is nowhere in sight, the tenant left and the mortgage is underwater. I don’t have the energy or …
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Council may study condo law that prevents owners from splitting joined units
In Palm Beach, property owners who own more than one adjacent condominium can combine them into a single home but, once done, they are prohibited by the town from splitting them back into the original number of units unless they can meet parking and density requirements. The law is consistent with the town comprehensive plan’s …
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Canadians Warm to Phoenix
Canadians are on a Sun Belt shopping spree. Phoenix and other warm-weather cities that have seen real-estate prices crater are newly popular among Canadians looking for second homes or investment properties, brokers and buyers say. They are lured by the weak U.S. dollar, historically low interest rates and rock-bottom property prices, dragged down by high …
Stressed condos find help
Osprey Cove, a condominium in Estero, was dealing with a wave of foreclosures that cut off maintenance fees from many of its units. The community’s property manager, Hayden & Associates, had to deal with “huge delinquencies” and traditional ways of dealing with them weren’t promising, Ken Hayden said. “You throw them in the collections meat …
Grandmother nearly loses condo to foreclosure after $4.70 fee balloons to nearly $3,000 | FLORIDA TODAY | floridatoday.com
For Geeta Ramcharitar, the ordeal began with a past due balance of $4.70 owed to her condominium association in Melbourne’s Venetian Village — and ballooned from there. The threatened end: foreclosure on her two-bedroom condo. The 56-year-old grandmother got lucky. County Court Judge William McLuan tossed out the foreclosure case brought by her condo association, …