News about properties and real estate
Proposal: Pay fee, skip condo-conversion line Waiting to go condo is San Francisco’s version of waiting for Godot. Building owners can spend years vying for one of 200 condo-conversion slots awarded annually via a lottery. But this year San Francisco is considering letting people skip the line, offering a one-time chance to the hundreds of …
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La Via Units Sell for $55,000 Each [South Florida] A foreign investor has purchased 26 units at the La Via Condominium complex in Pembroke Pines for just over $1.4 million, or $55,000 per unit, in an all-cash transaction. Atlanta-based Apartment Realty Advisors Inc., which arranged the sale, expects to see more such fractured condo purchases …
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Con artists take advantage of homeowners in trouble As tens of thousands of Los Angeles County residents lost their homes to foreclosures in recent years, a Van Nuys businessman and his associate knocked on doors and mailed out fliers offering “Foreclosure Relief Services” to desperate homeowners. The two men, ages 59 and 71, allegedly told …
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Joe Adams: Pooled reserves ensure there’s cash when needed Q: Our board of directors has been talking about switching over to “pooled” reserves. Can you explain what this means? L.A. (via e-mail) Advertisement A: The concept of funding condominium reserves through the “pooling” method, sometimes also known as the “cash flow” method, came into vogue …
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New rules raise the bar for condo mortgages in Florida Lending giant Fannie Mae is slapping tough new requirements on mortgages for Florida condos, moves that analysts believe will make it even more difficult to sell units in buildings already starved for residents and struggling financially. The standards, which took effect last week and apply …
Future retirees buying homes in Southwest Florida now to enjoy later Flexible work schedules and the lowest home prices in years are attracting a new type of buyer to Southwest Florida — future retirees. These buyers are planning ahead for retirement, purchasing now to enjoy later. In the meantime, many are testing the Florida waters, …
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