News about properties and real estate
GL Homes bucks trend, buys $117 million of land [South Florida] Home builders are dumping land, cutting workers and otherwise retrenching, yet GL Homes is still buying. The Sunrise-based builder just paid $117 million for 1,068 acres west of Delray Beach. Privately held GL Homes bought the site from the Hyder family. The builder put …
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Real estate investment trusts prove disappointing in 2007 Since January 2001, I have regularly suggested that investors consider adding real estate investment trusts, or REITs, to their portfolios. In that time, the total return from REITs through 2007 has been about 273 percent. Thus, investors who followed the suggestion did quite well. However, 2007 was …
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As Sky Falls, Condos Look For Protection [Tampa Bay Area] When the foreclosure filing came last month, developer Fida Sirdar determined the only way to save The Place at Channelside condominium was to file for bankruptcy reorganization. It was either that, he said, or hand the keys over to the bank and walk way. “Generally, …
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Qualified borrowers face credit squeeze Lenders are rejecting more loan applicants with strong credit scores, the latest indication the nation’s credit crunch is deepening and further depressing the housing market and the economy. Mortgage companies are growing more cautious and tightening lending standards for some of their most credit-worthy customers – from increasing down payments …
Vacancies on rise at South Florida shopping centers as economy worsens The housing woes are spilling over to commercial real estate. Cracks are evident in the office and retail sectors in South Florida and nationwide, according to real estate analysts and brokers. “We’re definitely seeing things slow down,” said David Luther, a senior associate at …
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Bear Stearns CEO Is Said to Rent House Bear Stearns Cos. Chief Executive Alan D. Schwartz has taken off the market his suburban New York house, listed for $4.5 million, and is renting it, the real-estate agent who had listed the home says. Meanwhile, Bear Chairman and former CEO James Cayne closed last month on …