News about properties and real estate
Briny backer finds himself in middle of mortgage mess John Devaney, the deep-pocketed, high-flying trader who’s lead financier for the $510 million purchase of Briny Breezes, is facing a financial squeeze after a series of bad bets on the subprime mortgage market. Angry neighbors and skeptical regulators had been the biggest obstacle to a development …
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Investors: Few deals at foreclosure auction [South Florida] Investor Tony Barquin shifted amid the crowd in the stuffy auction room at the Miami-Dade County Clerk’s office Thursday, pondering which among scores of homes in foreclosure he might bid to buy. As more and more homeowners can’t pay their mortgages, the number of properties hitting the …
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Mortgage Mess Shines Light on Brokers’ Role In 2005, World Savings Bank honored Secure Financial Inc. with a “Top Broker Award.” It was a tribute to the sales prowess of Zak Khan, who arranged more than a hundred mortgages out of the small real-estate firm’s Union City, Calif., office. But Mr. Khan, a onetime professional …
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Texas Resort Avoids Foreclosure A West Texas resort billed by its owner as an exclusive desert getaway for the rich and famous has filed for federal bankruptcy protection. The eight-page filing in federal court in Midland on Monday came a day before a Connecticut real estate loan company was set to foreclose on an unpaid …
Housing market still troubled [Central Florida] Property appraisers’ report reflects slowdown — coastal areas hit hard Central Florida’s most troubled real estate: low-end condos. Where are values level? Established neighborhoods. What prices are rising? Lakefront property. That is a synopsis of what lies behind the property-tax rolls appraisers reported to the state by Monday. Overall …
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Values rise at condo tower [Denver] At the new Glass House near downtown, many owners are investors who are quickly selling their units for tidy profits. A week after Deviree Vallejo and Dan Brown closed on their one-bedroom condo in the Glass House, they put it back up for sale. Within two days, they sold …