News about properties and real estate
Condo may be on city property [Tampa Bay Area] Developers have spent more than a year constructing a $100-million high-rise condominium and retail complex in downtown Clearwater. But they may be building on some city-owned property. And that isn’t good, it seems, for anyone – the developer, the city, a local church, a title insurance …
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Ruling favors condo builder Trying to back out of a pre-construction purchase on a condo? If you’re rich, forget it. But if you have money troubles, it might be easier to do. That’s the finding of a Palm Beach County Circuit Court judge, who earlier this month ruled that a buyer could not back out …
Sinkhole problems driving family toward foreclosure Nicole Stotz’s patience is broken. The same goes for her terrazzo floor and stucco walls. You can see the cracks. Two years after moving into her one-story home along Pinehurst Drive, sinkhole conditions have caused her abode to show signs of ruin. “I didn’t want to move before,” Stotz …
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WCI Slides After Rejecting Bid [South Florida] When billionaire activist Carl Icahn proposed a $22-a-share buyout of WCI Communities Inc., the Bonita Springs, Fla., home builder rebuffed him in hopes of finding a richer suitor. But as the housing market continues to slide, along with WCI’s stock price, it looks as if WCI should have …
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Commercial sales signal active market A spate of recent sales illustrate that while the region’s residential market remains sluggish, commercial real estate here continues to be highly sought after. The trend of recent transactions, involving nearly a half-dozen high-profile properties, also underscores how capital is still flocking to land and buildings. The transactions involve the …
Briny backer finds himself in middle of mortgage mess John Devaney, the deep-pocketed, high-flying trader who’s lead financier for the $510 million purchase of Briny Breezes, is facing a financial squeeze after a series of bad bets on the subprime mortgage market. Angry neighbors and skeptical regulators had been the biggest obstacle to a development …
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