News about properties and real estate
Insurance burden could fall on policy holders [Florida] Picking up the pieces after Poe Financial Group’s breakdown will fall to the state’s insurance pool — and possibly Florida residents. The downfall of Poe Financial Group, Florida’s largest insurance insolvency, is a burden that will fall to the state’s insurer of last resort — and eventually …
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Home today, gone tomorrow? A Supreme Court ruling giving the government more power to take private land for economic development has property owners across the state on edge and lawmakers debating ways to rein in eminent domain It was a court ruling that spread fear and anger throughout the nation — the idea that government …
Loan of $159M Finances Multifamily Buy The Bethany Group has acquired a portfolio of 2,873 apartment units in Florida, Texas and South Carolina from Aimco and has financed the purchase with a $159-million loan from GE Real Estate. Greg Garmon, CEO of Bethany, tells GlobeSt.com that the financing will go toward both the approximately $151-million …
Region’s typical home price tops $500,000 [Southern California] The median price of a Southern California home punched through the half-million-dollar mark for the first time in March even as sales remained soft, an industry tracker said on Tuesday. The sales decline is in response to rising interest rates and a market past its “frenzy phase,” …
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Home sales slip, condos soar [Central Florida] The number of homes on the market in Orlando ballooned again last month as sales of single-family houses continued to cool and the momentum shifted strongly to condominiums, according to figures released Wednesday. The Orlando Regional Realtor Association’s inventory reached a record 14,559 homes in March — a …
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Glut keeps rental rates down Think the auto industry is tough? Try the office market. Back in the mid-’80s, developer Peter Burton built the Arboretum office park in Farmington Hills and advertised space at the going rate of $18 per square foot. Today, in an office market awash with high vacancies and low demand, the …