News about properties and real estate
Restaurant properties: Are they still in demand? [South Florida] What’s the outlook for restaurant properties? Two brokers, Richard Ruvo of Port St. Lucie-based All Florida GMAC and Jim Traina of Americas Realty in Stuart, offered their perspective. Q. Are restaurant listings up? Ruvo. There are a lot more restaurants on the market now. I’d say …
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Condo crunch in S. Florida good news for bargain hunters The glut of condominiums for sale in South Florida is attracting a legion of bargain hunters. Out-of-state and international buyers are descending on the area in search of deep discounts as prices continue to crater. They want to get in now and wait out the …
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Even top commercial properties are suffering from market crisis [South Florida] Even top-tier properties are showing they’re vulnerable to turmoil in the residential real estate industry. The owners of prime properties in Aventura and the West Brickell area of Miami are the latest to feel the financial pain. Lehman Brothers Holdings is suing developer Shefaor/Tarragon …
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As mortgage noose tightened, these 3 slipped its grip [Philadelphia] When Janice Freeman bought her $65,000 fixer-upper in Overbrook six years ago, she was working two human-services jobs, including one with lots of overtime, and had tenants paying $1,000-a-month rent. She was proud that buying her first house after a lifetime of renting provided a …
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The vacation-home buyer [Central Florida] If Daytona’s complicated real estate market could be reduced to a round of “Jeopardy!,” one answer recited by Alex Trebek might be this: the beach, Disney, deep discounts and a droopy dollar. And the question? What factors are Realtors counting on to start a recovery in the area’s vacation-home market? …
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Mortgage Crisis [South Florida] As more South Florida homeowners fall behind on their mortgage payments, many lenders are slow to embrace a less costly alternative to foreclosure: short sales. In a short sale, lenders allow owners facing foreclosure to sell their homes for less than the mortgage balance. The lender absorbs the shortfall, but limits …