Developers have sold 85 percent of the condos built in South Florida during the building boom beginning in 2002, according to a report released this week by Bal Harbour-based consultancy Condo Vultures. The report, which studies condo markets from South Beach to West Palm Beach, found that developers have sold 41,258 condos in the last …
Category Archives: Commercial Properties
Churches Find End Is Nigh
Residential and commercial real-estate owners aren’t the only ones losing their properties to foreclosure. The past few years have seen a rapid acceleration in the number of churches losing their sanctuaries because they can’t pay the mortgage. Just as homeowners borrowed too much or built too big during boom times, many churches did the same …
Low prices spur sales at Riviera high-rise
Four years ago, the Marina Grande condominium in Riviera Beach was among the first Palm Beach County condos to experience the buyers’ remorse crowd. As the market for flipping real estate died during early 2007, dozens of investors at Marina Grande scrambled to try to undo their pre-construction contracts. Now Marina Grande is finding popularity …
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In Lakewood Ranch, land brings growing influence | HeraldTribune.com
By wielding its ownership of 54 square miles of land, Lakewood Ranch developer Schroeder-Manatee Ranch has coaxed one project after another to its master-planned community, removed from the urban cores of Sarasota and Manatee counties. In its latest potential coup, SMR is offering up discounted land for a proposed $14.4 million complex to house the …
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Property managers make money off condos’ insurance
Your property management company may be making money off your condo association’s insurance policy. Some say that’s a conflict of interest because management companies also help associations pick their insurance. "Referrals should be based on good service only and not financial incentives," wrote Jerri Franz, a spokeswoman for the Department of Financial Services. On Monday, …
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Cape Coral couple plead guilty in fraud
A Cape Coral couple charged with swindling banks by falsely obtaining mortgages pleaded guilty Wednesday. Maria Arantegui-Vasconez, 36, and Alfredo Arantegui, 40, each entered guilty pleas to one count of scheming to defraud a financial institution in exchange for sentences of five years probation. Arantegui-Vasconez also was sentenced to two years of prison, suspended, meaning …