News about properties and real estate
Cash buyers push out would-be homeowners [Northern California] When Marianna and Shannon Chaffin saw the three-bedroom, two-bathroom house on two acres in the Madera County countryside, they fell in love and made their best offer — only to see someone else snap it up for $9,000 less. Why? The buyer paid cash. It’s a harsh …
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Unsealed drywall documents show how information was stifled Unsealed drywall documents show how information was stifled [Central Florida] Once it had replaced the tainted Chinese drywall causing a furor among builders and suppliers in South Florida during 2006, Knauf Plasterboard Tianjin Co. Ltd. offered the problematic material back to its main supplier with the caveat …
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Property insurance: How prepared is Florida’s property insurance market for the hurricane season? Hurricane season officially will begin Tuesday, and Florida’s state-run property insurance programs are better prepared this year than in the past. Private insurers are largely stable, but there are questions about whether several can handle the impact if major hurricanes strike the …
Faces of the Downturn: Foreclosure crisis creates heartache, opportunity [South Florida] It was a motley crew that arrived at the Fort Myers courthouse, and it had one thing on its mind — profit. Men and women wedged themselves into a windowless second-floor room and spilled into the neighboring jury room. They mingled in baseball caps, …
Luxury downtown hotel faces economic music [Southern California] Just 1½ years after opening one of downtown San Diego’s glitziest hotels in the midst a deep recession, the owner of the 184-room Sè San Diego has been notified that it is in default on its construction loan, owing the lender nearly $73 million. Although the original …
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Struggling Miami ‘Bulk Condo Buyer’ Opts to Auction Remaining Units at Discount Prices According to a new report from Condo Vultures, a Miami bulk buyer struggling to resell individual condos is taking the surprising step of auctioning off most of its remaining units at an asking price of $11 per square foot less than the …