News about properties and real estate
WCI’s Financial Fortune Is Staked To Condo Tower In Miami [South Florida] One Bal Harbour may look like just another sign of excess in Miami’s oversaturated condo market, but to developer WCI Communities ( WCI) the luxury tower represents crucial cash. The Bonita Springs, Fla.-based developer is counting on sales of 185 condos and 115 …
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Bradenton builder stays busy in down market [South Florida] At a time when several small- to medium-sized regional home builders have hit rough patches or simply folded, Bradenton’s Gibraltar Homes seems to have weathered the storm of real estate’s big downturn. Albert Sanchez, Gibraltar’s president and owner, sees an improving housing market ahead. He thinks …
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Official knee-deep in debt [Tampa Bay Area] Already facing the challenges of a lengthy 2008 presidential ballot, the retooling of his office’s voting system and his own re-election campaign, Hillsborough Elections Supervisor Buddy Johnson has chosen this year to revamp entirely his finances and his living arrangements. In the last eight months, he has sold …
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Home appraisals defy the market [South Florida] Despite a collapsing real estate market, appraisers determined that the value of a surprising 48 percent of homes actually went up in Manatee, Sarasota and Charlotte counties. In Manatee County, 85 percent of single-family homes built before 2006 rose in value, while 39 percent of similar properties in …
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Investor sues to bail out of four WCI condos A Virginia investor who bet on South Florida’s condo market in headier days is trying everything he can to get out of contracts on four Singer Island units and recover about $1.6 million in deposits. John Cherin has filed three federal lawsuits against Bonita Springs-based WCI …
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Retail builders feel credit pinch [Central Florida] The credit crunch triggered by subprime home mortgages gone bad has spilled into the retail shopping center industry. The word of tighter lending restrictions spread Monday among 5,500 retailers and developers gathered at the International Council of Shopping Centers’ annual Florida Dealmaking Conference in Orlando. The news came …
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