News about properties and real estate
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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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 …
Updated: Downtown Sarasota condo tower evacuated City officials went door to door in Dolphin Towers this morning, checking to make sure residents had evacuated the building deemed unsafe Wednesday. Just before the 11 a.m. evacuation deadline, the last residents carried what possessions they could out of the 15-story building. Some shed tears, but most are …
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Florida condos get new tool for collecting fees [South Florida] A new law offers a stark choice for South Florida condo renters living in units owned by people who are behind on their maintenance fees: Fork over the rent money to the association, or face eviction. The “Distressed Condominium Relief Act,” signed by Gov. Charlie …
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Home Ownership in the U.S.: Rethinking Big Part of the American Dream It’s time to have a serious conversation about the American approach to home ownership and mortgages. A system once celebrated for putting so many families into their own homes and for making mortgages so widely available has become, as one housing economist puts …
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