News about properties and real estate
Builder allows customers to use forfeited deposits Frenzied flippers have walked away from contracts to purchase homes as the real estate market has slowed across Florida. In their dust, they’ve left behind cash. Rather than keep the cash, Taylor Woodrow is offering other buyers the opportunity to use forfeited deposits toward the purchase of a …
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Condo switchers flee Florida Miami’s condo market has nothing in common with its weather forecast these days; it’s freezing cold with a chance of bad investment. That might explain why more Florida condo converters are showing up in the Triangle. Meet Haim Einhorn. He has spent decades converting rentable apartments to for-sale residences in South …
Hoteliers walk a fine line With pictures of kids hanging on the office walls and rooms named after Gabriella, Francesca and Nick, the Captiva Beach Resort bears all the hallmarks of a family business. But the people who are most interested in the future of this 20-room inn on Siesta Key spend just a few …
Flipped in Florida — Selling in a Housing Bust There’s something about Florida residential real estate that attracts speculators like an alligator to an easy meal. Abundant sunshine has been known to distort investors’ perception of the laws of economics from the 1890s to the present. With tens of thousands of properties languishing on the …
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Creditors left in the lurch In the midst of an overheated market — where banks were hungry to make lucrative loan deals and many investors thought there was no direction except up for real estate values — a pair of developers went to work on Manatee County’s barrier islands. Steve Noriega, 56, and Robert Byrne, …
Primed to fail After landing in bankruptcy court in 2004, Cynthia King was deluged with letters from companies offering to help straighten out her finances so she wouldn’t lose her cozy St. Petersburg home. King went with a $143,250 loan from Resmae Mortgage of California. It paid off her original mortgage and gave her some …