News about properties and real estate
Lawsuit charges that Fort Lauderdale developer sold undersized condos [South Florida] A Fort Lauderdale real estate agent is suing the developers of the Las Olas River House luxury condominium, saying they cheated her out of living space. Rebecca Riley said she bought a 2,600-square-foot condo last year from Tarragon Corp. and Omni Development Corp. But …
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Soft market teaches flippers an ever-so-humble lesson Investing in real estate looked so sexy. Like the tech-stock bubble that turned college kids and housewives into day traders, the real estate boom turned insurance brokers, doctors and bicycle mechanics into real estate flippers, who would buy and then quickly sell homes for easy profits. Now those …
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Planners OK replacing apartments with condos The developer is cutting back and delaying his plans because of the slumping real estate market. More than three decades after Gary Boruff became a landlord in Venice’s apartment district, his last tenants have been moved out and his rentals, which recently went for as little as $450 per …
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Escrow Bomb ticking in S. Florida You’d be smart to keep a close eye on that escrow account attached to your mortgage. There’s a good chance many Florida property owners won’t have enough money squirreled away this year. Escrow is money held for future obligations. Every month most homeowners pay principal and interest due on …
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Citizens deficit to cost all homeowners [Florida] All Floridians with homeowner insurance policies will have a one-time charge tacked on their annual premiums to help cover Citizens Property Insurance Corp.’s $1.7 billion deficit from 2005, officials with the state-backed insurer decided Thursday. And Citizens’ board will meet next month to consider another extra charge for …
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Taxpayers strain to swallow hikes [South Florida] When Patrick Moriarity opened his tax bill this year and saw a 35 percent increase in the amount of money he owed on his two commercial rental properties in Venice, he was more than outraged. He was disgusted. Moriarity and new homeowners, owners of second homes and owners …
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