News about properties and real estate
Florida’s real estate market remains haunted by decaying and abandoned properties even as new foreclosures slow and home values rise. These so-called “zombie” foreclosures — properties forsaken by both the bank and borrower — number 54,900 statewide, including 14,600 in Palm Beach, Broward and Miami-Dade counties, according to a new report from RealtyTrac. The concentration …
Continue reading “Abandoned homes haunt Florida’s housing market”
Gil Dezer, a Miami-area developer, five years ago had 850 unsold condominiums on his hands and almost $500 million in loans coming due as credit markets froze and buyers disappeared.Today, he’s back in the market with what he sees as a safer bet: a 132-unit luxury project for auto enthusiasts called the Porsche Design Tower. …
Continue reading “Miami Luxury Condos Revived With Buyer Cash Deposits”
It has been nearly three years since builder Josh Anderson purchased 36 distressed lots just outside of Las Vegas for an average of about $90,000 each, hoping that a bet on troubled land would pay off once the market turned. If all goes well this week, his gamble could result in a jackpot. One of …
A new downtown hotel contemplated by Tampa Bay Lightning owner Jeff Vinik could marry 400 hotel rooms with 50 high-rise condo units, a city of Tampa document shows. Such hotel/condo hybrids were popular around the country until last decade’s real estate bust, particularly among luxury hotel developers, said Chuck Ross, a hotel consultant not affiliated …
Continue reading “Possible Vinik hotel could have 400 hotel rooms, 50 condo units”
Earthmovers and other construction equipment are clearing the way for a “boutique hotel” at the old American Outdoors RV Park bayfront lot at mile marker 97.5 in Key Largo.Developers are seeking “a multitude of approvals” from Monroe County, said Larry Abbo, chief executive officer of Prime Hospitality Group. Prime Hospitality wants to build a 15-building …
Continue reading “Infamous foreclosed Keys condo site now future home of a Marriott boutique hotel”
Ure Kretowicz, a home developer here, built his company and fortune constructing suburban communities marked by detached, Mediterranean-style houses along winding cul de sacs. Now he has run out of space. For the first time in his four-decade career, Mr. Kretowicz doesn’t have one detached, single-family home under development in metro San Diego. From the …
Continue reading “Land Crunch Hits Builders in ‘Brady Bunch’ Country”