News about properties and real estate
The vacation-home buyer [Central Florida] If Daytona’s complicated real estate market could be reduced to a round of “Jeopardy!,” one answer recited by Alex Trebek might be this: the beach, Disney, deep discounts and a droopy dollar. And the question? What factors are Realtors counting on to start a recovery in the area’s vacation-home market? …
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Investment losses hard to swallow People such as Freddie Wright, Judith Baron and Nelia Raber say they thought their money was safe in the now-troubled Paso lender Freddie Wright has been living for years in San Luis Obispo in an old orange Ford van, a choice he makes to save money. In 2006, a longtime …
Almost homeless over $100 Can you lose your home over $100 in late fees? Most Southwest Florida residents are by now quite familiar with how lenders can take back a property through foreclosure. But under Florida law, it is not just banks that can foreclose — homeowners and condominium associations can take a home to …
Dealmaker elevated flip to an art In the midst of the 2006 U.S. congressional campaign, Mark Brivik held a fundraiser at his multimillion-dollar home on Longboat Key for Republican candidate Vern Buchanan. It was a swank affair, say those who attended. Even the Israeli ambassador was there. The party spotlighted Brivik at the height of …
Mortgage Crisis [South Florida] As more South Florida homeowners fall behind on their mortgage payments, many lenders are slow to embrace a less costly alternative to foreclosure: short sales. In a short sale, lenders allow owners facing foreclosure to sell their homes for less than the mortgage balance. The lender absorbs the shortfall, but limits …
Condo sales turn sour [South Florida] Market-distorting rebates and incentives helped move units at Vintage Grand, and banks are left with bad loans Martin Caparros was late to the party with his Vintage Grand condominium conversion project, but his sales team still managed to sell 238 units for a total of $43.4 million from January …