News about properties and real estate
Hard times for Merco Group [South Florida] Starting with one earthquake-damaged building in downtown Los Angeles, the Meruelo family spent nearly four decades building a real estate empire stretching from California to Florida. But even as family-owned properties like the Grand Bay hotel in Coconut Grove and high-rise condominiums attest to the family’s success, the …
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Village offers cash so you’ll take Manhattan Not long ago, it was news when builders and home sellers were looking to spice up their deals by dangling, say, a flat-screen television in front of prospective buyers. But that’s sooooo 2007. Take, for example, south suburban Manhattan, where it’s the village government giving the incentives. The …
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Walk the line — or walk away [Northern California] Josefa Ramirez and her husband, Juan Carlos, both 43, spent 10 years moving in and out of San Francisco apartments before buying their two-bedroom, one-bath Antioch home in 2006 for $375,000. “It took almost two years to raise our credit score,” she said, but finally they …
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A bank on life support [South Florida] First Priority Bank is certainly not the only local bank suffering from the popping of the real estate bubble and a meteoric rise in foreclosures. But First Priority has been impacted far more than its Southwest Florida peers. The bank reported $33.8 million in problem loans at the …
Bankruptcy filings show deep debt of coastal investors [Alabama] Three of Bon Secour Village’s five developers have filed for bankruptcy, putting the already imperiled Gulf Shores development at further risk and illustrating how south Baldwin County’s burst real estate bubble has hit even the most moneyed investors. Cullman brothers Eddie and Josh Canaday — along …
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Family Narrowly Skirts Foreclosure A close look at a how California homeowners pulled off a short sale. The homeowners: April Reed, 35, a real estate agent, and Eric Reed, 38, an electrician. The home: In October 2005, the Reeds bought a house for $294,000 in Chester, Calif., a small mountain community east of Chico, Calif., …
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