News about properties and real estate
Florida’s oversupply of condo-hotels could spell big trouble Florida leads the nation in the number of condominium-hotel rooms in the pipeline, but analysts fear an oversupply could prove troubling for developers and consumers. The Sunshine State has more than 31,500 condo-hotel rooms under development, according to Smith Travel Research of Hendersonville, Tenn. Nevada is second …
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Riviera’s titanic waterfront revamp faces sinking feeling [South Florida] For Bob Healey, the city’s $2.4 billion waterfront redevelopment plan is like a yacht stalled at sea. The New Jersey yachtmaker should know. His company, Viking Inlet Harbor Properties, was picked a year ago this week to turn 400 acres of blight into a dazzling waterfront. …
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Complex owners’ dilemma: Condos or apartments? [South Florida] With the real estate market showing little signs of revival, some condo converters are facing this dilemma: Should I keep trying to sell these units as condos, or just give up and go back to apartments? The owner of the 450-unit Mizner Court at Broken Sound will …
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Moving here? Good luck finding an apartment [Central Florida] When Cynthia Valentin and her three children moved from Reading, Pa., to Orlando, she needed two things quickly: a place to live and a job. With a 3.2 percent unemployment rate, the job was a snap. But finding an apartment took several frustrating weeks. “Everything was …
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An Investors’ Dream or Just a Mirage? [Southern California] Ashraf Fahim insists he is not a gambler. Yet when he decided to begin betting on real estate, he headed straight to the high-stakes table in California’s remote desert. Two years ago, as some experts cautioned that soaring housing prices were creating a market bubble, the …
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St. Joe to stop building houses [South Florida] Evidence is mounting that the downturn in Florida’s real estate market may be broader than experts had expected. St. Joe Co., the largest private landowner in Florida, is exiting the homebuilding business in the state. Giant homebuilder Lennar Corp. of Miami is reducing its third-quarter earnings estimates. …
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