First-time homebuyers buoy market The housing market is getting a much-needed boost as first-time homebuyers rush to take advantage of an $8,000 federal tax credit that is set to expire Dec. 1. The incentive is helping to slow the decline in home sales. In August, sales were down 1 percent over the comparable period last …
Category Archives: Commercial Properties
Board’s use of reserve funds results in fine for the owners
Board’s use of reserve funds results in fine for the owners Q: Our board willfully used funds from the reserve account without unit owner approval for other purposes. The state imposed a fine on the association and not the board. Who is responsible for such action? R.E., Miami A: The fine will be paid from …
Continue reading “Board’s use of reserve funds results in fine for the owners”
Downtown development: Miami, Fort Lauderdale and West Palm Beach officials check to see if they overbuilt in the early 2000s [South Florida]
Downtown development: Miami, Fort Lauderdale and West Palm Beach officials check to see if they overbuilt in the early 2000s [South Florida] Developers poured money and concrete into South Florida’s three county “capitals” this decade, furiously building up the downtown skylines with thousands of new residential high-rise condos and apartments. Now that the real estate …
Condo developer wears two hats [South Florida]
Condo developer wears two hats [South Florida] Q: I am a condominium owner in a complex that has approximately 200 units, of which approximately half are rental units waiting to be bought. The owner of the property owns these units and calls all the shots. We have one meeting per year, which means nothing, since …
Continue reading “Condo developer wears two hats [South Florida]”
A gilded headache [South Florida]
A gilded headache [South Florida] Jorge Perez joined Donald Trump Jr. Friday for a familiar task: selling a posh and pricey condominium high-rise on the ocean. How hard has that become lately? Perez says he is directing most of his sales energy toward people who have already signed sales contracts to buy units. “We are …
Low land prices create buzz to add county parks [Central Florida]
Low land prices create buzz to add county parks [Central Florida] The rain clouds of the real-estate market have a silver lining for those who want more public baseball and soccer fields: cheaper land. Orange County’s parks and recreation department has been scouting dozens of tracts 20 acres or larger across the county. The idea …
Continue reading “Low land prices create buzz to add county parks [Central Florida]”