News about properties and real estate
Study: Nearly a quarter of all U.S. foreign buyers choose Florida International buyers have helped buttress Florida’s real estate market with 22 percent of all foreign clients nationally choosing property in the Sunshine State. That makes Florida tops for attracting foreign interest, according to a summer report by the National Association of Realtors. California came …
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Walking away from your mortgage isn’t risk free For underwater homeowners who think they’ve found a solution to their predicament–stop paying the mortgage and remain in the house until they are forced out by foreclosure–the consequences of such a decision are not as simple as they may seem. The short-term advantages of a “strategic default” …
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Homeowner fees ‘like extortion,’ homeowner says. Two days before closing on a house, Eugene Vrooman got bad news: If he didn’t come up with $14,000, the homeowners association wouldn’t allow his deal to go through. In addition to unpaid assessments, the Bridgewater Community Association demanded money for cosmetic repairs to the home, which had been …
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Co-Op Maintenance Fees Are Rising. The average co-op maintenance fee in New York City climbed 19% from 2009 to 2010 to $1.76 per square foot per month, according to Miller Samuel, a Manhattan-based appraisal company that tracks maintenance costs. The main driver behind the fee increases has been a jump in property taxes brought on …
Governments, community groups to get first crack at foreclosed homes. Cash investors hunting for abandoned and foreclosed properties will take a back seat to buyers using federal housing money under an "unprecedented" agreement with the nation’s largest private lenders. The "First Look" program, announced Wednesday, gives local governments and community groups using Neighborhood Stabilization money …
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Israelis, Venezuelans buy condos as homes, investments. Many of the international buyers scooping up condos in South Florida’s top bayfront communities are buying to occupy part-time, brokers say, but many would consider a future sale at a profit. Where these buyers decide to purchase depends in part to the condominium’s location, as some are more …
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