Co-Op Maintenance Fees Are Rising. The average co-op maintenance fee in New York City climbed 19% from 2009 to 2010 to $1.76 per square foot per month, according to Miller Samuel, a Manhattan-based appraisal company that tracks maintenance costs. The main driver behind the fee increases has been a jump in property taxes brought on …
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Governments, community groups to get first crack at foreclosed homes
Governments, community groups to get first crack at foreclosed homes. Cash investors hunting for abandoned and foreclosed properties will take a back seat to buyers using federal housing money under an "unprecedented" agreement with the nation’s largest private lenders. The "First Look" program, announced Wednesday, gives local governments and community groups using Neighborhood Stabilization money …
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Israelis, Venezuelans buy condos as homes, investments
Israelis, Venezuelans buy condos as homes, investments. Many of the international buyers scooping up condos in South Florida’s top bayfront communities are buying to occupy part-time, brokers say, but many would consider a future sale at a profit. Where these buyers decide to purchase depends in part to the condominium’s location, as some are more …
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Bulk buyer’s condo coup busts small-time investors
Bulk buyer’s condo coup busts small-time investors In early 2008, with the real estate market well into meltdown, a deal to sell more than 100 condominium units in Royal Palm Beach was struck. Considered one of South Florida’s first bulk condo buys, it was called “savvy” by market analysts and heralded as a sweetheart deal …
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After the craze: Condo conversions leave fractured communities
After the craze: Condo conversions leave fractured communities Michael Jacob was living at the Monterra apartments in Bonita Springs in 2006 when the wave of condo conversions came through. Jacob, and everyone else in the 244-unit complex, was told by management to leave if they didn’t want to pay the sky-high price to buy – …
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Professional investors move into flipping foreclosed homes
Professional investors move into flipping foreclosed homes Hoping there are big profits to be made in the aftermath of California’s housing collapse, professional investors are flocking to the business of buying foreclosed homes at distressed prices. The investors, primarily private equity funds and groups of wealthy individuals, purchase the homes at public auctions, which are …
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