News about properties and real estate
Towers developer defaults on loan [Southern California] Developer John Saca Wednesday said he has defaulted on a $22 million loan he used to buy the downtown land where he broke ground last year for two 53-story condominium and hotel towers. The default — the first step in a foreclosure — doesn’t necessarily mean the development …
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Coast Bank will continue Tringali tract foreclosure [South Florida] Coast Bank of Florida passed on the chance to unload a property for less than a third of what the bank loaned on it. So the bank’s foreclosure against developer Michael Tringali will continue. An auction Thursday evening generated just two bids for the 253-acre tract …
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Ease our tax burden, lawmakers are urged [South Florida] Taxpayers asked their state lawmakers to come up with a plan to lessen the property tax burden on homeowners and businesses. Madeleine Hernandez stood at the microphone and told the crowd of 100 Miami-Dade and Broward taxpayers gathered at a town hall meeting about the toll …
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Where has the money gone? [South Florida] The arrest of Sarasota businessman Daniel Prewett has investors worried. Dr. Wayne Cohen and his wife invested $462,000 with Daniel Prewett, so the Cohens had reason to be alarmed when they heard Prewett had been arrested on a federal money laundering charge. The couple had given Prewett the …
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So what does $250,000 get you these days? [Central Florida] The median resale price of a home in Central Florida has hovered at a quarter of a million dollars for almost a year. A cool quarter of a million dollars. Two hundred and fifty grand. That’s roughly what it takes to buy a typical used …
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Toll, Centex, Lennar Join `Moron’ Speculators in Land Grab Bust Brian Tuttle owns so much land that he paid $3.6 million to get rid of 125 acres ready for development in the middle of Florida’s Palm Beach County. “In 2005, I was a brain surgeon, and in 2006, I was a moron,” said Tuttle, who …
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