News about properties and real estate
Pat Neal is an oddity among Florida developers: He still builds and sells lots of new homes. The financial crisis that shattered many of his competitors only slowed Neal. His edge? He paid cash for land before the boom drove up prices. “I didn’t owe anybody any money,” said Neal, whose Neal Communities builds mostly …
Continue reading “Developer Pat Neal made the best of the real estate bust”
Scattered across 540 acres of San Diego County hills and ravines, the 235 opulent homes of the Bridges at Rancho Santa Fe flank a private golf course and country club with tile-roofed towers inspired by Tuscan villages.The placid panorama belies decades of bruising battles among the project’s developers. The cast includes home-building titan Lennar Corp., …
Continue reading “Inside a high-end real estate deal gone bad”
As if the love bugs weren’t enough. There’s something a lot more destructive than bugs splattering across car windshields: termites. The winged insects cause an estimated $5 billion damage each year in the United States, and Florida’s warm and humid weather makes the state a prime breeding ground. “The warmer and wetter the climate, the …
A year ago, Miami’s Icon Brickell condo complex was a symbol of just about everything that had gone wrong during South Florida’s epic housing bust: Speculators had walked out on sales contracts, the towers were half-empty, and a group of lenders was making moves to foreclose. Now, as Brazilians and Argentineans wage bidding wars for …
Continue reading “Miami’s one-time icon of crisis becomes an icon of the city’s condo turn-around”
The Courtyard by Marriott hotel next to Daytona Beach International Airport is going up for auction. Mortgage holder MTGLQ Investors L.P. of Irving, Texas, won a $10 million foreclosure judgment in April against D&B of Daytona Inc. a St. Petersburg-based company that — as Oceanside One Ltd. — owned the hotel. The foreclosure auction will …
Continue reading “Daytona airport hotel to be put up for auction”
Q. What are the rules governing expenses for condominium associations in Florida? Can an association pay for a party or any planned get-together function from the operating expenses? For condominiums, refer to several sections in FS 718. Also, the state has administrative codes that define budgets. When you think of budgets, you must also include …