News about properties and real estate
Home price surge worries longtime residents
Hudson County home prices are soaring – and while that might be good news for those who are selling, it’s a cause for concern for residents who don’t want to cash out, according to a new poll by The Jersey Journal/New Jersey City University.
Nearly two-thirds of residents surveyed in the poll said they probably couldn’t afford to buy a home in the neighborhood they live in now; less than 30 percent were confident they could
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Team turns ‘distressed’ homes into sales
SDV Real Estate Holdings has worked out a system for turning dumps into marketable delights.
Some might think buying deeply distressed homes and condominiums in a sputtering realty market is a recipe for a financial hemorrhage.
Others, like the partners of SDV Real Estate Holdings LLC, see gold.
SDV stands for the first names of the three partners, Shea Ralph, Dan Kotwicki and Vincent Terpe, who have plowed about $1.4 million into six distressed Sarasota County properties within the last 12 months.
Warning: Flipping property isn’t as easy as it looks
You come home from a long day at work and, while channel surfing, you come across a show in which guys are buying run-down houses, fixing them up and reselling them for huge profits before the first mortgage payment is due.
Wow. What’s more, they claim they make as much money on this one house as you have in the last year.
They don’t look or sound any smarter than you are and they’re raking in the cash. You start crunching numbers and, before you know it, you’re thinking about a career change.
Before you quit your day job, can we talk?
Baiting a hook for condo buyers [South Florida]
In South Florida’s slowing real estate market, single-family home sellers aren’t the only ones getting nervous. Developers of new condominiums are antsy and trying to come up with creative ways to distinguish themselves from the competition.
Free closing costs, purchase price discounts and appliance upgrades are just some of the freebies being offered.
And then there’s the Koi.
Ownership dreams take a bitter turn
Buyers sue over sales methods they say led to inflated prices and high foreclosure rates
The white double-wide with blue shutters in Emerson Estates, sitting on nearly a quarter of an acre of land, seemed a quiet spot in the country. The three-bedroom, two-bath, 1,344-square-foot home also meant their two daughters had their own rooms.
To add to their excitement, they were approved for a loan despite a credit history that included a bankruptcy and repossession of a used car.
But the excitement didn’t last.
Shifting home market gives buyers an edge [South Florida]
As he looks for a home to buy, Juan Saiz is finding owners eager to negotiate.
Take an owner of a 1,400-square-foot pool home just west of Coral Gables. The owner had already dropped the asking price by $62,000, asking $588,000 for his remodeled home. But when Saiz came to tour the ranch-style three-bedroom home at an open house, the owner had knocked off another $10,000.
Saiz himself settled for $35,000 less when he recently sold his Coral Gables condo for $390,000.