News about properties and real estate
Hillsborough: Mansion goes to $5.55-million bidder [South Florida] But $4-million from Paul Bilzerian’s Avila home sale may pay for attorneys and loans. The sprawling but embattled mansion in north Hillsborough County built by Paul Bilzerian was auctioned for $5.55-million Monday by a bankruptcy judge. “It was a good investment,” said Clearwater auctioneer Michael Peters, the …
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Treasure Coast official accused of land payoff [South Florida] The FBI arrested a governor’s appointee to the Treasure Coast Regional Planning Council Monday, making him the third defendant facing criminal charges in the corruption case against former Palm Beach County Commission Chairman Tony Masilotti. Daniel Miteff of Wellington, accused of making a $50,000 payoff to …
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Deals, Deals, Deals (and a Great Year for REITs) Wall Street has managed to post some pretty impressive gains in 2006. But again, the market for real estate investment trusts has beaten most stocks, as large investors pumped reams of capital into companies with large holdings of commercial property and, in some cases, gobbled up …
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Home sale victims tell of bounced checks from Harrison lawyer [New York] Lizette Santiago worked two jobs for a dozen years to pay the mortgage on her Queens home. The 41-year-old single mom used her earnings as a bookkeeper and waitress to build up equity in her Woodhaven home. She put her house on the …
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Would-be renters lose thousands The slight woman with the sharp tongue and unassuming personality talked a good game. It’s how she was able to convince four separate renters to pony up thousands of dollars each to rent houses she did not own. But in reality, Nancy J. Burgess attempted to rent properties in The Acreage …
Are REITs beginning to run out of gas? At a time when everyone seems to be debating the downshifting in residential real estate, some other real estate vehicles have been careening down Wall Street like a bunch of Lamborghinis in overdrive. They’re called real estate investment trusts, or REITs (rhymes with “treats”), and they offer …