Florida’s bargain homes beckon Ever dreamed of owning a vacation home in Florida? Maybe a nice one- or two-bedroom winter getaway near the beach and a swimming pool in the courtyard? U.S. developers are hoping that snowbirds from cities such as Toronto will take advantage of bargain-basement prices to make that dream a reality. With …
Category Archives: General
Royal Palm hotel heads for bankruptcy
Royal Palm hotel heads for bankruptcy Six years after opening the Royal Palm, developer R. Donahue Peebles has put the entity that owns the South Beach hotel into bankruptcy protection amid a dispute with a lender trying to foreclose on the property. The bankruptcy filing of Royal Palm Senior Investors marks the latest twist in …
Pa. investor buys 26 condos in West Palm for $5 million
Pa. investor buys 26 condos in West Palm for $5 million In a sign that bargain hunters are taking advantage of West Palm Beach’s condo glut, the head of a large Pennsylvania-based roofing company has snapped up 26 units at The Edge. Ed Dunlap, chairman of CentiMark of Canonsburg, Pa., paid $5 million for condos …
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Default-y tower
Default-y tower The New York owner of Boston’s landmark Hancock Tower defaulted on a key loan payment this week, in what’s become one of the most spectacular commercial real-estate flops in the city’s history. Broadway Partners LLC, the once high-flying investment firm that purchased the Hancock for $1.3 billion in 2006, was involved in intense …
Advice for renters if landlord faces foreclosure
Advice for renters if landlord faces foreclosure You’re paying your bills, but your landlord isn’t. And you’re the one holding the eviction notice. This is becoming an all-too-familiar scenario for thousands of renters nationwide who have become the unintended victims of foreclosures. Banks are booting good tenants onto the streets with little to no notice …
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Investors returning to Inland housing scene
Investors returning to Inland housing scene After retreating in fear from housing’s sudden collapse, those who buy homes as an investment are reappearing in Inland Southern California’s beaten down marketplace. Sharply discounted foreclosed properties are luring back the first wave of professional investors and amateurs, both those hoping to “flip” for a quick buck and …
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