News about properties and real estate
Condo slowdown trips up bulk buyers [South Florida] Back when condos were still hot, mom-and-pop investors all over South Florida waited overnight in lines that snaked around the streets just for a chance to buy in. Not the men behind The Formula, a company that bought condos in bulk directly from developers and flipped them. …
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Conversion delays ending for Boca, Palm Beach condos Condo converter Ceebraid-Signal promises progress in two of its troubled projects, both of which have experienced significant delays and been the subject of liens and lawsuits. Company officials say they will resume work on the long-delayed Eden Condominium project in Boca Raton next month.
Carolina Mall Owners Deal in Alleged Real Estate Scam [South Carolina] A failing mall in Columbia, S.C., is now under scrutiny to discover what happened to cause its fall over a 20-year time span. Now named Midtown at Forest Acres, the mall has previously been known as Richland Mall, and Richland Fashion Mall. Although the …
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Run-down complex will go condo [Central Florida] Families who thought homeownership was out of their financial reach may have a chance to buy a place for less than half the average price of a new home in Lake County. The City Commission has agreed to spend $2 million to renovate the run-down Kristen Court apartment …
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Towers can’t dig out of hole [Northern California] It’s just a hole in the ground near the Sacramento River right now. But to get an idea of what might be built where John Saca tried and failed to erect two 53-story high-rises, look 2,700 miles east to the banks of the Potomac. That’s where CIM …
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Tax Benefit Falls From Favor Some smaller real-estate investors are turning away from a popular tax-deferral strategy that has attracted scrutiny after fraud allegations. A number of investors had already started to reject the option out of concern about another problem: high prices for commercial properties. The so-called 1031 exchange strategy allows participants to defer, …