Ruling favors condo builder Trying to back out of a pre-construction purchase on a condo? If you’re rich, forget it. But if you have money troubles, it might be easier to do. That’s the finding of a Palm Beach County Circuit Court judge, who earlier this month ruled that a buyer could not back out …
Category Archives: Real Estate
WCI Slides After Rejecting Bid [South Florida]
WCI Slides After Rejecting Bid [South Florida] When billionaire activist Carl Icahn proposed a $22-a-share buyout of WCI Communities Inc., the Bonita Springs, Fla., home builder rebuffed him in hopes of finding a richer suitor. But as the housing market continues to slide, along with WCI’s stock price, it looks as if WCI should have …
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Briny backer finds himself in middle of mortgage mess
Briny backer finds himself in middle of mortgage mess John Devaney, the deep-pocketed, high-flying trader who’s lead financier for the $510 million purchase of Briny Breezes, is facing a financial squeeze after a series of bad bets on the subprime mortgage market. Angry neighbors and skeptical regulators had been the biggest obstacle to a development …
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Investors: Few deals at foreclosure auction [South Florida]
Investors: Few deals at foreclosure auction [South Florida] Investor Tony Barquin shifted amid the crowd in the stuffy auction room at the Miami-Dade County Clerk’s office Thursday, pondering which among scores of homes in foreclosure he might bid to buy. As more and more homeowners can’t pay their mortgages, the number of properties hitting the …
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Mortgage Mess Shines Light on Brokers’ Role
Mortgage Mess Shines Light on Brokers’ Role In 2005, World Savings Bank honored Secure Financial Inc. with a “Top Broker Award.” It was a tribute to the sales prowess of Zak Khan, who arranged more than a hundred mortgages out of the small real-estate firm’s Union City, Calif., office. But Mr. Khan, a onetime professional …
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Housing market still troubled [Central Florida]
Housing market still troubled [Central Florida] Property appraisers’ report reflects slowdown — coastal areas hit hard Central Florida’s most troubled real estate: low-end condos. Where are values level? Established neighborhoods. What prices are rising? Lakefront property. That is a synopsis of what lies behind the property-tax rolls appraisers reported to the state by Monday. Overall …
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