News about properties and real estate
Miami’s Fisher Island Enjoying an Uptick in Uber-Lux Condo Sales According to several local real estate professionals, the ultra-wealthy residential island community of Fisher Island is experiencing a strong increase in sales activity in the latter half of 2009, amidst a tough real estate economy for most. Fisher-Island-and-South-beach-Miami-Florida.jpg Phyllis Winick, on-island broker of Fisher Island …
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Condo buyers allege flipping scheme Back in 2007, Steven and Joan Haber paid $260,000 for their retirement home in Charlotte County, a short drive from the multimillion-dollar beachfront estates of Boca Grande. The Condominiums at Waterside seemed like a steal. Within 18 months, the buildings were sold out and the newest units were fetching record …
CDD defaults may be disaster for a swath of homeowners [Tampa Bay] More than 50 of Tampa Bay’s community development districts are in or near default, a condition that could have serious ramifications for thousands of homeowners across Tampa Bay and accelerate the decline of already troubled Florida banks. Developers use CDD bonds, or “dirt …
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Reason not to foreclose quickly Q: In today’s real estate market it may not be wise to foreclose. Lien, yes. Against my opinion, my board foreclosed and now is responsible for trying to sell a home in the community of 1,100 homes. The board, of course, is footing the bill for upkeep and paying all …
Banks Take Losses on Short Sales as Foreclosures Soar Drew Schlosser tried for two years to sell his three-bedroom Punta Gorda, Florida, waterfront condominium for less than he owed on its two mortgages. The deal only went through last month when Wells Fargo & Co. agreed to take a $165,000 loss on the loans. Even …
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Dubai: A High Rise, Then a Steep Fall As financial crisis roiled much of the world in October 2008, the head of Dubai’s biggest state-owned developer unveiled his latest megaproject: a $38 billion development that would include a tower nearly two-thirds of a mile tall. “I’m sure most of you are asking why we’re launching …