News about properties and real estate
Homeowners hope mediation program can save their houses [South Florida] Lance Dunning tried for two years to sell his house in a short sale after its value plunged well below the $400,000 mortgage he took out in 2006. He had three offers for three short sales for $200,000, more than the home’s assessed value – …
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Closed Seville Beach Hotel to get new boutique brand The shuttered Seville Beach Hotel in Miami Beach will come back as a partnership between hip hotelier Ian Schrager and Marriott. The Miami Beach location, at 2901 Collins Ave., becomes just the second announced U.S. location under the boutique Edition brand. The first is scheduled to …
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Some HOAs sue or foreclose to collect dues When Helen Burgess fell behind on her bills after being diagnosed with cancer, she was able to work out payment plans on her mortgage, car note, credit card and tax obligations to the Internal Revenue Service. Her neighbors weren’t so accommodating. Because Burgess was late on her …
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Home building in Southwest Florida is on the mend After the worst year in the home building business since the Great Depression, Southwest Florida builders and their subcontractors are getting busy again. Builders in Manatee County are firing up their cement mixers and nail guns the fastest. But other parts of the region — including …
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Bulk Condo Sales Clear Supply—at a Cost The financial clouds hovering over the Monteverde condominium development in Boynton Beach, Fla., were driven away in late spring when an investor bought 118 of the project’s 219 units in a “bulk sale,” a popular method of moving large numbers of condos in one transaction. But Dan Berwitz, …
Rich have higher home default rates The well-off are losing their master suites and saying goodbye to their wine cellars. The housing slump that began among the working class in remote subdivisions and progressed to the suburban middle class is striking the upper class in privileged enclaves like this one in Silicon Valley. Whether it …