News about properties and real estate
Hotel to go back up for sale [Farmingdale, NJ] The 19th-century American Hotel, East Main Street, which operated as a banquet facility and restaurant for years before it was closed at the end of 2003, will be put on the auction block for a second time on March 23 at 1 p.m. The auction will …
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Thirteen dollars for $1.5 million property Reversing an appellate court’s decision, the Kentucky Supreme Court has ruled that a Breathitt County woman should get more than $1 million in real estate that her uncle decided on his deathbed to give her in exchange for $13. The property, intended not as an inheritance but as a …
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The boom is gone: Home sales fall 36% in Broward [South Florida] South Florida’s five-year housing boom is over. Prospective home buyers are finding prices falling to more affordable levels. Sellers are waiting impatiently as their houses sit on the market for weeks and months, only to receive tepid interest before reducing their asking prices. …
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Real estate investor has trouble shaking depreciation recapture tax DEAR BOB: If I move for 24 months into a rental house I’ve owned for 15 years, can I then sell it as my principal residence to avoid the recapture tax on all the depreciation I’ve deducted? –Elinor W. DEAR ELINOR: Sorry. The only way to …
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Affordable housing offers developer rich pursuit But spiraling land prices are squeezing such projects out of Central Florida In 1988, Alan Ginsburg decided to use the federal government’s new tax credits for low-income housing to accomplish two things: provide affordable rental housing for people, and build a thriving business for himself. He has done both, …
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55 West ready to rise [Orlando] Three years after it was first proposed, construction of the 55 West condominium tower in downtown Orlando is under way and headed for completion in spring 2008. Spiraling costs for material and labor had delayed the 32-story project, and a long list of prospective buyers evaporated as delays continued …