News about properties and real estate
Illegal renting results in revenue losses The atmosphere around Cocoa Beach Towers on a recent sunny day was like a vacation resort. The Monkees’ “I’m a Believer” was blaring from the condo complex next door, sunbathers relaxed on the Towers’ balconies overlooking the beach, families lounged by the pool. One could hardly tell that the …
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Homes bulging as Floridians move back in with parents Deb Jacobs left home nearly four decades ago, saying goodbye to her mom and dad to start her adult life. Now, at 58 years old, she is returning. No longer able to afford her mortgage, and following a failed attempt to get a loan modification on …
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Appraisers say cheaper valuations open door for short-sale abuses A run-up in housing prices contributed to the downfall of real estate, but now some appraisers fear low-ball valuations could lead to the next market muddle. They say a new federal rule to speed up short sales will increase banks’ reliance on broker price opinions — …
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Fall from grandeur: Recession, foreclosure shutter Grand Bay Pigeons live in the barren penthouse nightclub of the former Grand Bay, South Florida’s last five-star hotel. A vagrant recently went to the bathroom in the vacant lobby, where black graffiti colors the walls. The dining room hints of smoke, the remnant of a campfire built on …
Ask a real estate professional: Why can’t I get flood insurance? Q: My bank just informed me that my loan has been approved. But I can’t close because I don’t have flood insurance for the property, which happens to be in a flood zone. How can this be? Isn’t this something I can get later …
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Charlotte County looks to buy distressed homes [South Florida] The housing crisis peaked in Charlotte County in 2008-2009, with foreclosure filings running at about 400 a month. While the numbers are down so far this year, the problem of vacant homes remains for neighborhoods. Now the county is trying to salvage some of those homes …
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