Forced To Give Up Condos Shane Mummery and dozens of his neighbors are on the verge of losing their homes – and they face hefty losses on their investments. They haven’t missed mortgage payments, and they don’t want to sell. But none of that matters. Mummery and his neighbors own units in a New Tampa …
Category Archives: General
Deal in works to save condo facing liens [South Florida]
Deal in works to save condo facing liens [South Florida] Could there soon be an end in sight to the foreclosure quagmire at The Whitney, West Palm Beach’s newest condo? Developer Enrique Dillon confirmed he’s crafting a deal to satisfy a foreclosure and liens on the 210-unit building at Evernia Street and South Dixie Highway. …
Continue reading “Deal in works to save condo facing liens [South Florida]”
General Growth Shops for Partners
General Growth Shops for Partners General Growth Properties Inc., the second-largest U.S. mall owner and operator by market value, is shopping its portfolio to potential joint-venture partners as it scrounges for capital to pay off $18.7 billion of debt coming due over the next four years. [Chart] Chicago-based General Growth, which owns more than 200 …
Banks auction homes at fire-sale prices [South Florida]
Banks auction homes at fire-sale prices [South Florida] Another sign of desperation in the South Florida housing market: banks tired of paying taxes and upkeep on foreclosed homes put 200 up for auction Saturday in Fort Lauderdale. Ranging from the most modest one-bedroom efficiency condos to five-bedroom houses worth close to a million dollars at …
Continue reading “Banks auction homes at fire-sale prices [South Florida]”
Did appraisers juice Florida real-estate market?
Did appraisers juice Florida real-estate market? Almost every street has one: a vacant house that sold a couple of years ago for a jaw-dropping price. It could be another example of appraiser-inflation during the overheated housing market, which saw property values soar tens of thousands of dollars with each sale. Appraisers so commonly pumped up …
Continue reading “Did appraisers juice Florida real-estate market?”
Did20appraisers20juice20Florida20real-estate20market3F20–20OrlandoSentinel.com
Did20appraisers20juice20Florida20real-estate20market3F20–20OrlandoSentinel.com Almost20every20street20has20one3A20a20vacant20house20that20sold20a20couple20of20years20ago20for20a20jaw-dropping20price.20It20could20be20another20example20of20appraiser-inflation20during20the20overheated20housing20market2C20which20saw20property20values20soar20tens20of20thousands20of20dollars20with20each20sale.0D0A0D0AAppraisers20so20commonly20pumped20up20house20values20to20meet20demands20of20developers2C20real-estate20agents20and20lenders20that20complaints20against20them20tripled20in20Florida20in20recent20years20–20the20largest20complaint20increase20for20any20profession20regulated20by20the20state.0D0A0D0AFrank20Gregoire2C20former20chairman20of20the20Florida20Real20Estate20Appraisal20Board2C20said20most20appraisers20are20honest20but20some20succumb20to20pressure20from20lenders20who20want20higher20appraisals.0D0A0D0A22Im20not20alone.20Plenty20of20appraisers20want20a20light20shined20on20this2C2220said20Gregoire2C20who20owns20an20appraisal20company20in20Pinellas20County20and20is20campaigning20to20become20Pinellas20property20appraiser.2022Consumers20need20to20know20about20what20they20are20buying20and20the20devastating20effects20of20this20on20their20neighborhoods.22