News about properties and real estate
The common myth among refinancing homeowners is that the mortgage industry will count the rental income they are receiving from their homes. In fact, rental income will not count toward the borrower’s qualifying income, even though the homeowner is reporting it on his tax returns, unless the subject property is a legal and conforming multi-unit …
Continue reading “Rental income may not help refinancers qualify for mortgage”
When the office building at 250 Royal Palm Way came on the market in a 2010 foreclosure sale, Anthony DiTommaso and Rusty Warren, co-CEOs of Ivy Equities, saw an opportunity they couldn’t pass up. The Greenwich, Conn.-based executives, whose firm Ivy Realty, is headquartered in Montvale, N.J., entered a market they had set their sights …
Continue reading “New owners DiTommaso, Warren complete 250 Royal Palm Way renovation”
When Donald Soffer first visited a patch of swampy wetlands just south of the border between Dade and Broward counties, his original intent was simply to build a shopping mall. But after seeing the land, the idea came to him for an upscale community created around an expansive golf course and country club, a vision …
An unexpected increase in Chinese property buyers is moving Singapore’s real-estate market, in the latest sign of the effects of Chinese money elsewhere in Asia. For years, Indonesians and Malaysians were the dominant foreign property buyers in Singapore, a rich Southeast Asian city-state that is widely regarded as one of the safest places in Asia …
Continue reading “Chinese Property Buyers Boost Role in Singapore”
A lender-owned beachfront property in Jupiter just sold to a foreign investor for $9.75 million, or $812,500 per unit. 3000 Ocean Dr., a 12-unit condo, was completed in 2010 at a cost of $18 million.CBRE marketed the property for sale on behalf of the lender, West Suburban Bank, after it foreclosed on the property in …
Continue reading “Bahrain Buyer Grabs Lender-Owned Condo for Half Price”
Meg McKennon’s workload has surged since the Seattle real estate agent switched to managing residential properties. Now she gets paid for finding tenants instead of buyers – an easier task as rentals soar. “In the past two months, my business probably came close to tripling,” said McKennon, who started management company Dwellings Seattle Real Estate …
Continue reading “Property managers busy as rental market surges”