News about properties and real estate
Professional investors move into flipping foreclosed homes Hoping there are big profits to be made in the aftermath of California’s housing collapse, professional investors are flocking to the business of buying foreclosed homes at distressed prices. The investors, primarily private equity funds and groups of wealthy individuals, purchase the homes at public auctions, which are …
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Pinnacle’s real estate fallout When Pinnacle Financial Partners got started 10 years ago, the bank’s executives, who had survived many a past real estate collapse, pledged to focus lending on business and industry — not real estate development. Now, the bank is beset by loan problems linked to real estate and homebuilding plans gone awry …
Developer’s Money Woes Evident in Bartow Foreclosure Sale [Central Florida] An anchor building in downtown Bartow is going on the auction block Tuesday in a foreclosure sale, reflecting the financial nightmare plaguing Lakeland developer Jose Reynoso. He paid $380,000 for the Berkowitz building at 415 E. Main St. in 2006, and spent thousands of dollars …
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Property tax appeals: South Florida property tax appeals on a blistering pace The annual tax notices going out this month will bring a double whammy of bad news for many Florida property owners — lower values and higher taxes. But a small minority will get a break by challenging the county’s value of their homes, …
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Condo Buying Checklist A condominium is not homeownership in the truest sense. When you buy a condo, you own only what is inside the walls of your unit. Outside of those walls, the residents of the complex share ownership in a cooperative bound by a contract. That cooperative can be an advantage of buying into …
Lee County first in line for housing help [South Florida] Three housing counseling agencies have been chosen to implement the pilot Florida Hardest-Hit program being offered in Lee County – $23 million is available to help about 1,200 homeowners. County residents will have first crack at assistance because of the pilot program, according to a …
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