Suspect in Yonkers doctor’s slaying had financial setbacks

Suspect in Yonkers doctor’s slaying had financial setbacks

The suspect in last week’s killing of Dr. Leandro Lozada had suffered a number of recent financial setbacks, and foreclosure proceedings were filed against him on the same day that he sold the house on Brendon Hill Road where the slaying occurred.

Samuel L. Saunders, 59, borrowed and repaid more than $1 million in mortgage loans against a series of properties in Yonkers and Mount Vernon in at least 20 transactions over the past five years, according to papers on file with the Westchester County Clerk’s Office. Saunders remains in the Westchester County jail without bail, accused of shooting Lozada in the head at least two times on Wednesday.

In the spring, Saunders defaulted on a $650,000 loan he had taken out in June 2004 to buy the house at 43 Brendon Hill Road, for which he paid $825,000. But because of the timing, Saunders managed to pull off the sale before any liens were attached to the property. When he sold it to Lozada on May 10, he got only $800,000 for the house and was responsible for $32,000 in fees to Prudential Rand Realty.

Mortgage Applications Up as Home Buyers See a Break in Rates

Mortgage Applications Up as Home Buyers See a Break in Rates

Low mortgage interest rates are buoying the housing market even as experts are debating whether the market has hit bottom.

The recent decline in rates has been relatively small, and there is still concern that the slump will worsen in the spring when more homes come on the market. But the low rates, real estate and mortgage brokers say, have still provided a significant boost to their business, which had dropped significantly from 2005, the best year for home sales in history.

Lower rates get “them off the fence,” said Tom Carlson, an agent at Pacific Union GMAC Real Estate in San Francisco. “There’s a sense of urgency that mortgage rates probably will rise.”

Even in a home buyer’s market, it’s important to use your clout wisely [South Florida]

Even in a home buyer’s market, it’s important to use your clout wisely [South Florida]

Jenn Vest made what she thought was a fair offer on a house in Broward County, but the seller rejected it and wasn’t much in the mood to haggle. The same thing happened on another property.

Vest later found a two-bedroom house in an eclectic neighborhood near downtown Fort Lauderdale. Originally listed at about $550,000, it was reduced to $349,000. She closed on the deal Dec. 29 for $316,000.

“She got the buy of the century,” said her real estate agent, Pamela Orr of Balistreri Realty in Lighthouse Point.

Buyers have been wielding more power since South Florida’s five-year housing boom last year yielded to a significant slowdown. Those getting the best deals are hiring experienced agents, pushing for incentives, wearing poker faces, finding motivated sellers and, when all else fails, walking away.

Location, location …. timing

Location, location …. timing

Builder finding it tough to sell his hurricane-resistant houses in a swirling real estate market.

You know what they say about the importance of location in real estate.

But the recent flow and ebb of the housing market have reminded us another word belongs with that “location, location” mantra: timing. It’s a hard-learned lesson for home buyers, investors, builders and everyone else who makes a living in the real estate market.

Mike Marcus is no newcomer to the game; his Sarasota Builders and Remodelers has been in business for years. But even an experienced contractor like him feels the pinch of the slowdown in sales and the subsequent reduction of prices.

The Lure of Living Above It All

The Lure of Living Above It All

It is a fine feeling to step into the elevator of an apartment building, press the button marked “PH” and take a ride to the top — or at least near the top. And at a time when the wealthiest New Yorkers are getting even wealthier, there are more buildings in Manhattan with many more of these elevator buttons that bespeak the privileges of penthouse living.

Christine Harris, a 34-year-old director at UBS Global Asset Management in Manhattan, expects to experience that feeling when she and her boyfriend move into their $2.5 million 11th-floor penthouse on the northern edges of Chelsea when the apartment is completed next summer.

Speaking by telephone over the clatter of the UBS trading floor, Ms. Harris calmly envisioned opening her apartment to friends for French feasts and glasses of pinot, and unwinding after work on her private 700-square-foot terrace.

Fixer? Break it down – Los Angeles Times

Fixer? Break it down

Check your math before buying on the cheap with dreams of renovation, experts advise.

Marry in haste. Repent at your leisure. That old saw could apply just as well to buying a fixer.

Before you fall in love and rush to buy and renovate a rundown old house that has a certain charm, take some time to get to know it better. A little due diligence, experts say, can save a lot of heartbreak — and serious money.