News about properties and real estate
Boxing promoter Don King has relisted his more than three-acre oceanfront property in Manalapan, Fla., south of Palm Beach, for $20 million. The gated estate, which contains two homes, was originally offered in early 2009 for $27.5 million. Mr. King took it off the market last summer. The larger of the two homes has nine …
Continue reading “Don King, Mel Gibson and the ‘Home Alone’ House”
Celebrity name-dropping, Twitter contests, skywriting planes and free grub are all strategies home sellers and real estate agents are using to entice buyers to the closing table in South Florida’s oversupplied and uncertain housing market. The list of marketing gimmicks used to sell houses and condos has grown longer and more eccentric as the real …
Continue reading “South Florida home sales hit 6-year high in volume but not price”
The historic El Patio Hotel in downtown Venice has been sold for $2.195 million to longtime real estate investor and restaurateur David McRae. The 16-room business at 229 W. Venice Ave. is the only remaining operational hotel in downtown Venice and is listed in the National Register of Historic Places. It was built in 1927 …
The Vasquezs are not unique; cash buys are becoming common. The number of homes bought with cash jumped to 32% in January compared to 26% a year earlier, according to the National Association of Realtors. In Southern California, about 30% of the sales in January were cash, according to DataQuick Information Systems. Same thing in …
Continue reading “More people are buying their homes with cash”
Things have been pretty bad in the mortgage business for the last three years. So, Phyllis Taylor found her paychecks getting slimmer. Taylor, who works for a mortgage firm, could no longer afford her mortgage. She thought she might have to sell her house in Chesterfield and move to something cheaper. Instead, she took out …
Continue reading “Reverse mortgages offer benefits, pitfalls”
Real estate: Candy Spelling gets $12-million price break on new penthouse Candy Spelling’s long-pending purchase of a two-story penthouse condominium in Century City closed Wednesday at a reduced price that still made it one of the most expensive deals ever for a Los Angeles condo.The widow of TV mogul Aaron Spelling paid $35 million — …
Continue reading “Real estate: Candy Spelling gets $12-million price break on new penthouse”