News about properties and real estate
Commercial property forclosures expected to be next wave in recession South Florida’s residential and commercial real estate markets suffered in 2008, and the new year doesn’t figure to offer much relief. Although home sales started picking up this summer, the beleaguered housing market has been hammered by foreclosures and falling prices. Both trends are expected …
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Can you afford it now? [Southern California] We’ve pretty much blown through the first couple of stages of grief with regard to the Southern California housing bust. There’s no room left for denial now that home prices in the Southland are down 44% from their peak in 2007, and there’s not much use for anger. …
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More ways to profit from market downturn Still shedding tears over your mansion’s declining value and your beaten-down stocks? Edward Mendlowitz, CPA and partner with the New Brunswick, N.J. accounting firm, WithumSmith Brown, says his wealthy Florida clients have been benefiting from the economic downturn. How? They’re getting assets out of their taxable estates in …
Bargains drive up home sales in Palm Beach County [South Florida] Even as job losses mount and mortgage lending remains tight, South Floridians still are buying homes. Bargain hunters continue to respond to plunging prices, with October sales of existing homes in Palm Beach County rising 37 percent, to 618 from 450 a year ago, …
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Siesta Key resort operator goes after lender Like practically every major real estate investor in the region, Richard Dear is reeling from the multimillion-dollar decisions he made during the boom. The Siesta Key vacation rental operator has defaulted on eight loans totaling $10.8 million since June, and sought Chapter 11 bankruptcy protection in September for …
Marinas watch, wait for end to slow dock market [South Florida] Southwest Florida’s dockominium industry – going full speed ahead three years ago – is going through a no-wake zone now, say owners and builders. But long term, they say, individually owned spaces in a dry dock facility are still a good investment because they …
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