News about properties and real estate
Commercial real estate still roars [Central Florida] Rob Guthrie has been expecting demand to fall for the small industrial buildings he builds. After all, a slowdown in industrial property usually follows a slowdown in the housing market, and right now, housing is in one doozy of a slowdown. Instead, this year, Guthrie has sold out …
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Bankrupt condo – hotel reflects downturn Aug Funding lent the owners of the St. Augustine condo-hotel $5 million in late 2005 and hoped to be paid off with interest by now. But its attempt to auction off the 24-room South Beach hotel failed, despite more than 100 inquiries. ”Nobody showed up,” said Phillip Hudson III, …
Champion for homeless now faces own housing woes Westgate Tabernacle Pastor Alan Clapsaddle has fought for his church’s right to house the homeless and worked to find them a more permanent place to live, but he’s nearly lost that battle personally. The home he and his wife, Kim Guzma, owned is no longer theirs and …
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As Condos Rise in Florida, Investors Try to Flee As dozens of condominium towers conceived during Florida’s real estate boom near completion, investors who snatched up units in the preconstruction phase in hopes of turning a quick profit are increasingly trying to break contracts, even walking away from fat deposits. “Motivated” sellers are flooding online …
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No profit doesn’t mean no taxes DEAR BOB: I bought a rental property in 1991, which I sold for $450,000. To avoid capital gain tax, I used an Internal Revenue Code 1031 tax-deferred exchange to buy another rental property for $450,000. After renting it for 12 months, I moved in and have lived in it …
Retirement interrupted One couple mapped out their retirement, but the plan hinged on being able to flip Florida real estate. Oops. Time for Plan B. Walking along a pier in Daytona Beach with their youngest grandson on a recent Saturday afternoon, Steve and Carol Daimler stopped to see what fish the locals were catching. The …