News about properties and real estate
Future of Vista Meadows Golf Course up in air [South Florida] Residents who live along the Vista Meadows Golf Course are wondering about the course’s future after it was sold at a foreclosure auction Thursday to a company that intends to resell the property. A previous owner of the course said he believes it may …
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Owners grapple with choice to sell, rent As the real estate market in Washington slowed in 2006, some home sellers opted to offer incentives to potential buyers, such as closing-cost assistance or payment of condominium fees, while other home sellers dropped their listing price, sometimes more than once. Some sellers, frustrated by a lack of …
Failed loan by ex-Husani partner threatens one bank’s bottom line Michael Tringali borrowed $83 million from seven banks The second largest Florida-based bank could be writing off nearly 15 percent of its annual profits because of fallout from a loan to Neil Mohamad Husani’s former business partner, Michael Tringali. BankAtlantic Bancorp, a Fort Lauderdale-based bank …
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Bills to tackle ground rents [Baltimore] Several state legislators said yesterday that they are drafting legislation to change Maryland’s arcane ground rent system, including bills to prevent homes from being seized over missed rent payments and to ban the creation of new land leases. “We’re just going to do what we did with flipping and …
Trailer park windfall: $510 million for Briny Breezes [South Florida] A link to South Florida’s past saw the future Tuesday: It’s big and splashy and comes with a lot of zeroes. And, if shareholders in this oceanfront mobile home park give their blessing, a Boca Raton developer they’d already spurned once will buy their town, …
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Part 2 of 3: The new lords of the land [Baltimore] A small number of investors who own many Baltimore ground rents often sue delinquent payers, obtaining their houses or substantial fees Paul W. Nochumowitz describes himself as a bail bondsman who takes home $14,000 a year and is bankrupt. Still, he and his wife, …
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