News about properties and real estate
Condo owners can be caught up in market downturn When the real estate market boomed between 1995 and 2005, speculation ran rampant. Property “flippers” were rolling over huge profits, selling their contracts for condos in new buildings before they were even built. Just like the game of musical chairs, the music stopped and someone was …
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From Russia — With Cash The Russians are coming. As many of America’s wealthy are roiled by the credit crisis and general financial gloom, a growing number of rich Russians are house-shopping — and buying — in costly U.S. enclaves. Fertilizer mogul Dmitry Rybolovlev is set to pay nearly $100 million to Donald Trump for …
Market leaves housing flippers flopping At the peak of the real estate boom, they inspired TV shows, how-to Web sites and the envy of friends and neighbors. Then the tumbling economy snagged “house flippers” like Mark Lepzinski of Clearwater. After 36 whirlwind months buying and selling dozens of homes throughout the Tampa Bay area, Lepzinski, …
Real Estate Investors May Resort to Prayer As the president of Silverstein Properties, Larry Silverstein, recently remarked on my television show: “The capital markets’ dislocation in real estate is the worst I have seen in my 55 years in real estate.” The dislocation of those markets has had a critical effect on the sales of …
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Adjusting to a softer real estate market A big reason that Fiona Saulness has saved as much as she has for retirement is real estate. Not only has the 52-year-old made a good living as a realtor, her investments in her Arizona house (which she owns free and clear) and a Seattle condo (which she …
McCrary case cautions athletes Michael McCrary had known Edward Giannasca for half a decade, and, until the former Baltimore Raven realized that he’d been cheated out of millions, he thought of the longtime developer as a stand-up guy. McCrary trusted Giannasca so much that, with few questions asked, he handed him a $3million check three …