News about properties and real estate
Miami Condo Glut Pushes Florida’s Economy to Brink of Recession [South Florida] In the middle of the biggest glut of condominiums in more than 30 years, Miami developers keep on building. The oversupply will force prices down as much as 30 percent, the worst decline since the 1970s, and help push Florida’s economy into recession …
Continue reading “Miami Condo Glut Pushes Florida’s Economy to Brink of Recession [South Florida]”
Renters win in slow market [South Florida] Now that Palm Beach County’s boom-time home-sales market is settling down … guess what? It’s become a renters’ market, according to a report released Wednesday. While that’s good for renters, it isn’t welcome news to landlords or home sellers. Home sellers competing for buyers in the county’s volatile …
Continue reading “Renters win in slow market [South Florida]”
Silicon Valley home market squeezing buyers and sellers [Silicon Valley] Statistically high median home prices in Silicon Valley’s housing market continue to belie soft market conditions, including falling prices, swollen inventories and tight mortgage money in some areas. Real estate agents on the street say an “inverse” market has emerged, forcing sellers to cut prices …
Continue reading “Silicon Valley home market squeezing buyers and sellers [Silicon Valley]”
Islamorada developer faces lawsuit Robert Falor, the embattled condo-hotel developer, faces a new lawsuit over his ownership interest in Islamorada’s Cheeca Lodge. The Chicago developer who has feuded with partners in several hotel projects in South Florida now must fight a lawsuit in Monroe County from investors claiming mismanagement and breach of contract. At issue …
Housing developer’s investors ask federal court to step in [Norfolk Virginia] A half-dozen investors in CM Development have asked a federal court to force the company and its president into bankruptcy in an attempt to recoup some of the millions they’ve spent on properties across Hampton Roads. If successful, the investors’ move could spell the …
Continue reading “Housing developer’s investors ask federal court to step in [Norfolk Virginia]”
North Port builders see grim future [South Florida] Because of the dramatic downturn in the real estate market, home builders are now replacing scrub jays as the most endangered species in this once rapidly growing city. Ignoring the laws of supply and demand, those builders churned out far more homes than were needed during the …
Continue reading “North Port builders see grim future [South Florida]”