News about properties and real estate
Silicon Valley home market squeezing buyers and sellers [Silicon Valley] Statistically high median home prices in Silicon Valley’s housing market continue to belie soft market conditions, including falling prices, swollen inventories and tight mortgage money in some areas. Real estate agents on the street say an “inverse” market has emerged, forcing sellers to cut prices …
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The Cost of Borrowing Moves Up When Metropolitan Real Estate Investors of Los Angeles and its Israeli financial partners agreed in April to buy 885 Third Avenue, a Midtown Manhattan office tower that is known as the Lipstick Building because of its elliptical shape, there seemed to be little doubt about how the deal would …
Islamorada developer faces lawsuit Robert Falor, the embattled condo-hotel developer, faces a new lawsuit over his ownership interest in Islamorada’s Cheeca Lodge. The Chicago developer who has feuded with partners in several hotel projects in South Florida now must fight a lawsuit in Monroe County from investors claiming mismanagement and breach of contract. At issue …
WCI’s stock decline raises question about it spurning Icahn’s offer Since billionaire investor Carl Icahn’s $22-a-share offer for WCI Communities Inc. expired in May, the luxury builder has seen its stock price fall as the housing market continues to stumble. Some question whether the company — a developer of waterfront and country club communities — …
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Housing developer’s investors ask federal court to step in [Norfolk Virginia] A half-dozen investors in CM Development have asked a federal court to force the company and its president into bankruptcy in an attempt to recoup some of the millions they’ve spent on properties across Hampton Roads. If successful, the investors’ move could spell the …
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North Port builders see grim future [South Florida] Because of the dramatic downturn in the real estate market, home builders are now replacing scrub jays as the most endangered species in this once rapidly growing city. Ignoring the laws of supply and demand, those builders churned out far more homes than were needed during the …
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