News about properties and real estate
Seeking bargains on top-dollar properties at auction [South Florida] It was like a folksy old-time revival crossed with a white-knuckle, high-dollar real estate sale. The Sky Sotheby’s/J.P. King real estate auction — offering one of the largest luxury home portfolios ever presented in a single swoop — drew an overflow crowd of 300 people to …
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Residential Slowdown Mordechay Shahak and his six-acre Wellington estate don’t fit the profile of a homeowner caught between rising interest rates and a cooling residential market, but his lender is moving against the 9,080-square-foot house. Shahak paid $2.3 million for the property with a large pond in December 2004. The property is for sale, listed …
Real estate firm’s collapse worries investors [Northern California] Millions of dollars in real estate investors’ money has apparently disappeared with the collapse of a firm that helped investors in Silicon Valley and elsewhere buy and sell property and defer paying capital gains taxes. 1031 Tax Group of Richmond, Va., which operated in San Jose as …
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Homeowners teeter [Colorado] If foreclosures continue on their current pace, Larimer County’s foreclosure rate is expected to increase by about 20 percent by the end of the year. Seventy-five percent of those foreclosures are the result of refinancing, said Kathi Williams, director of the Colorado Division of Housing in Denver. Foreclosure statistics for January through …
Battle over? Not quite [Florida] Six months after the locks on their timeshare units were reportedly “glued” shut, Camelot owners have their condominium back – at least for now. The lengthy, complicated and ongoing legal battle over ownership of the building began in December after the county seized and subsequently sold the 24-unit waterfront property …
More homeowners struggle with mortgages they can’t afford Sarah Portales wants to keep paying her mortgage on time, but she’s got a problem. Her monthly payments are $3,500 and her income is slightly less than that. All the efforts this San Jose custodial supervisor has made to find a way to refinance her loan into …
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