News about properties and real estate
In Florida, Despair and Foreclosures Desperation has moved into this once-middle-class exurb of Fort Myers, where hammers used to pound. Its straight-ahead stare was hidden amid the chatter of 221 families waiting for free bread at Faith Lutheran Church on a recent Friday morning; and it appeared a block away a few days earlier, as …
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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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Want a green card? Pay $1M for stake in Orlando-area condo hotel [Central Florida] Condominium hotels were among the first real-estate investments to go sour as the housing market slumped and, later, the credit markets seized up. But Lake Buena Vista Resort Village & Spa is hoping the lure of permanent U.S. residency will eventually …
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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