Michael Y. Cannon Real Estate [South Florida]

Michael Y. Cannon Real Estate [South Florida]

RETAIL BUILDING SOLD FOR $4.1M

Location: 2000 Harrison St.

Seller: Levymint, represented by Jerry Mintz, president.

Buyer: Seattle Properties, represented by Pablo Rodriguez, manager/president.

Price: $4.1 million or $264.99 per square foot, based on 15,472 square feet of building area.

Total Assessed Value (2006): $1,408,890 or $91.06 per square foot of building area.

Financing: $3.075 million provided by Wachovia Bank.

The retail building is located within the Hollywood subdivision. Previous sales reported were in July 1997 for $360,000, in March 1987 for $155,000 and in June 1972 for $125,200.

New trend for first-time home buyers [Contra Costa]

New trend for first-time home buyers [Contra Costa]

In the hypercompetitive world of Bay Area real estate, a trend has emerged that brightens the prospects for first-time home buyers but tightens the options for the most cash-strapped among us.

The trend — developers converting rented apartments to owner-occupied condominiums — has been gaining speed in the past few years. As interest rates stayed low and mortgages were easily accessible, more first-time buyers were able to get into condominiums in the $200,000-to-$500,000 range while being priced out of more traditional — and expensive — homes in this hot real estate market.

Easy-to-get loans cause thousands to lose homes

Easy-to-get loans cause thousands to lose homes

Easy money has led to hard times.

The millionaire businessman living in a $5 million Palm Beach Gardens home; a couple’s county-subsidized 3-bedroom, 2-bath slice of suburbia; a Fort Pierce widow struggling to keep her hurricane-damaged house: pre-foreclosure notices have landed on all their doorsteps.

More than $106 million in home loans collapsed in Palm Beach, Martin and St. Lucie counties in the first quarter of this year alone, according to a Palm Beach Post analysis of data collected by RealeSTAT.com, a local commercial firm that gathers foreclosure and default records. A little more than $68 million in mortgages defaulted in the first quarter of 2005.

Owners seek loan to avoid ‘fire sale’ of condo

Owners seek loan to avoid ‘fire sale’ of condo

Frustrated and angry homeowners of the hurricane-ravaged 1515 Tower condominium are scrambling this week to get a construction loan so they aren’t forced to sell the West Palm Beach high-rise at a fire-sale price.

Rather than just take the money two suitors are offering for the waterfront condo that was severely damaged by hurricanes in 2004, they have asked attorneys to search for a loan to cover the estimated $30 million they need to restore the 30-story building along South Flagler Drive.