News about properties and real estate
Woman looks to diversify nest egg out of real estate As she watches the Florida real estate market soften around her, Susie Hurst is getting nervous. The 59-year-old former teacher had thought that rental income from several properties she had accumulated over the years would fund her retirement. But higher insurance costs (the result of …
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Normans’ Jupiter Island estate could fetch $30M [South Florida] In the midst of their stormy divorce, Greg and Laura Norman’s 7-acre Jupiter Island mansion, Tranquility, has hit the real estate market and could fetch as much as $30 million. If it’s not featured on the Realtors’ multiple listing service now, it will be shortly, said …
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Condo Saturation Soaks Developers [Central Florida] Condos For Sale. The loud signs flaunted from street corners across the Bay area are meant to grab the attention of potential buyers. Developers advertise slashed prices and promise flat-screen TVs and computers. They put up inflatable gorillas and even pay people to dress as superheroes at busy intersections. …
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As ‘subprime’ rates shoot up, owners despair [Central Florida] Twanda Thompson doesn’t want to lose her home. But unless she can solve her mortgage woes, she and her four children may have to start looking for an apartment. Like many would-be homeowners with below-average or poor credit, the Orlando woman took out a “subprime” mortgage …
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Holdouts from condo sales fear bill Some Florida condo owners are fearful of legislation that they say could make it easier for developers to force them to sell their properties. Right now, many condo projects are safe from a hostile purchase by developers because of contracts that say all owners within the project must agree …
Real estate developer’s three-year plan starts bearing fruit When a Florida-based real estate company doggedly pursues a small Farmington Hills-based REIT with three all-cash offers over a month, it’s difficult to find a word other than “flattering.” After all, the final offer for Agree Realty Corp. [NYSE:ADC] topped out at $395.64 million, a 19 percent …
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