News about properties and real estate
High roller of home loans [Central Florida] Daniel Sadek played Orange County’s subprime lending boom like a card shark dealt the ace and jack of spades. Just five years ago he was selling cars. Then, in January 2002, he anted up $250 for a state lender license and started selling home loans through his company, …
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Attorney sees his opportunity, switches to real-estate investing [South Florida] Southwest Florida has long been fertile ground for lawyers with a hankering for investing in real estate. Chad Gates simply represents the latest iteration of the trend. Using largely borrowed money, Gates and his partners have spent more than $16 million to buy raw land, …
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Foreclosure flood In real estate, timing is everything. That’s what David Elosegui discovered when he made an offer on the Lake Orion house he fell in love with in February for himself and his daughter. “I went to make an offer and the bank said the house had just gone to auction,” said Elosegui, who …
Seeking bargains on top-dollar properties at auction [South Florida] It was like a folksy old-time revival crossed with a white-knuckle, high-dollar real estate sale. The Sky Sotheby’s/J.P. King real estate auction — offering one of the largest luxury home portfolios ever presented in a single swoop — drew an overflow crowd of 300 people to …
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Residential Slowdown Mordechay Shahak and his six-acre Wellington estate don’t fit the profile of a homeowner caught between rising interest rates and a cooling residential market, but his lender is moving against the 9,080-square-foot house. Shahak paid $2.3 million for the property with a large pond in December 2004. The property is for sale, listed …
Real estate firm’s collapse worries investors [Northern California] Millions of dollars in real estate investors’ money has apparently disappeared with the collapse of a firm that helped investors in Silicon Valley and elsewhere buy and sell property and defer paying capital gains taxes. 1031 Tax Group of Richmond, Va., which operated in San Jose as …
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