News about properties and real estate
Towers developer defaults on loan [Southern California] Developer John Saca Wednesday said he has defaulted on a $22 million loan he used to buy the downtown land where he broke ground last year for two 53-story condominium and hotel towers. The default — the first step in a foreclosure — doesn’t necessarily mean the development …
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Coast Bank will continue Tringali tract foreclosure [South Florida] Coast Bank of Florida passed on the chance to unload a property for less than a third of what the bank loaned on it. So the bank’s foreclosure against developer Michael Tringali will continue. An auction Thursday evening generated just two bids for the 253-acre tract …
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Ease our tax burden, lawmakers are urged [South Florida] Taxpayers asked their state lawmakers to come up with a plan to lessen the property tax burden on homeowners and businesses. Madeleine Hernandez stood at the microphone and told the crowd of 100 Miami-Dade and Broward taxpayers gathered at a town hall meeting about the toll …
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Condo rules clash with market realities When some owners of condos in Pelican Cove wanted to hold an open house to help with sluggish sales, it set off a storm of controversy. Barbara Simons gazes at the serene view of Sarasota Bay that dominates the condominium she inherited from her mother, a spacious second-story waterfront …
Even reluctant landlords can reap tax breaks Perhaps you’re a reluctant landlord. Caught in the housing downturn and unable to sell your house or condo at a decent price in 2006, you may have decided to rent out the property. Now, at tax time, you are left with a jumble of rules you never encountered …
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Will quitclaiming interest to relatives have tax consequences? DEAR BOB: About five years ago, I co-signed a home mortgage for my nephew and his wife. They were newlyweds buying their first home. They both had great jobs and great income, but no credit history so I volunteered to help them get a mortgage loan at …
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