News about properties and real estate
WCI’s Financial Fortune Is Staked To Condo Tower In Miami [South Florida] One Bal Harbour may look like just another sign of excess in Miami’s oversaturated condo market, but to developer WCI Communities ( WCI) the luxury tower represents crucial cash. The Bonita Springs, Fla.-based developer is counting on sales of 185 condos and 115 …
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Home appraisals defy the market [South Florida] Despite a collapsing real estate market, appraisers determined that the value of a surprising 48 percent of homes actually went up in Manatee, Sarasota and Charlotte counties. In Manatee County, 85 percent of single-family homes built before 2006 rose in value, while 39 percent of similar properties in …
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Home buyers wait years, but lots are still empty Minh-H-Nguyen and her husband, Ha Ngoc Nguyen, took out a loan for a down payment on a “dream home” in Lake County two years ago after being dazzled by pictures of a sprawling house with a screened pool. “The dream has not come true,” said Minh-H-Nguyen, …
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Investor sues to bail out of four WCI condos A Virginia investor who bet on South Florida’s condo market in headier days is trying everything he can to get out of contracts on four Singer Island units and recover about $1.6 million in deposits. John Cherin has filed three federal lawsuits against Bonita Springs-based WCI …
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Retail builders feel credit pinch [Central Florida] The credit crunch triggered by subprime home mortgages gone bad has spilled into the retail shopping center industry. The word of tighter lending restrictions spread Monday among 5,500 retailers and developers gathered at the International Council of Shopping Centers’ annual Florida Dealmaking Conference in Orlando. The news came …
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Millionaire hopefuls’ cash gone with breeze [South Florida] In January, Ocean Land Investments of Boca Raton agreed to pay Briny trailer owners $510 million for their oceanfront property, a defiantly unpretentious middle-class oasis wedged amid mansions, high-priced condominiums and opulent hotels. Ocean Land planned a development featuring 900 condos, a 349-room hotel, a marina and …
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