Eager buyers keep eye on Holiday Isle resort deal

Eager buyers keep eye on Holiday Isle resort deal

The pending sale of Islamorada’s Holiday Isle may be stalled, but other potential buyers are eager to swoop in. Either way, this might be its last spring break, since a luxury rebuild is a likely outcome.

Four would-be buyers are hovering around the troubled sales talks involving Islamorada’s Holiday Isle resort in hopes the deal falls through, a representative of the owner said. A federal bankruptcy-court judge on Friday granted a West Palm Beach developer an extension on its $98 million purchase contract for the famed honky-tonk resort on the ocean.

An entity controlled by Ceebraid-Signal filed for bankruptcy protection in February in a last-ditch effort to secure financing before the contract expired. Judge Paul Hyman on Friday agreed to give Ceebraid until April 28 to close on the sale.

Charles Kovaleski: Is it too late for investing in Florida real estate? | naplesnews.com | Naples Daily News

Charles Kovaleski: Is it too late for investing in Florida real estate?

Close to one in four pieces of property sold in the past year were bought by investment buyers, according to the National Association of Realtors (NAR). And for these buyers, the payoff has been huge: Investment properties have increased in value 25.4 percent in the last three years.

But as the Florida market continues to cool and stabilize, flipping real estate for a quick and tidy profit has become more difficult. In fact, the investment boom has flooded the rental market in several cities throughout the state, creating a surplus of investor-owned properties that have forced many would-be sellers to lease their property.

Uphill climb to success

Uphill climb to success [North Georgia]

Here in Northeast Georgia about five miles from Amicalola Falls is a place where dreams can come true.

The road leading here is a nice two-lane blacktop. Sometimes it flows between green hills covered with cows, and sometimes it rolls through a forest. Many miles do not have a visible utility line, making the road and pastures with their perfectly lined fences the only signs of mankind.

Here, Forrest Hills Mountain Resort is a good example of what can happen when flatlanders decide to live in the mountains. It’s also a good example of how an off-hand remark can create dedicated new business people.

Housing Speculators Relocate to Hotter Spots [Southern California]

Housing Speculators Relocate to Hotter Spots [Southern California]

Some who scored with L.A.-area property take their profits to Las Vegas and Arizona. Their flight may soften the local market’s landing.

Southern California’s high housing prices have at least one silver lining. They have kept speculators like Jay McKee from driving prices even higher — and from making them more likely to tumble.

The former technology worker from Manhattan Beach was among thousands who caught the real estate investment bug during the housing boom. He bought an ocean-view condominium in neighboring Hermosa Beach two years ago, spent $30,000 to spruce it up and swiftly resold it for a $250,000 profit.

Making It Easier to Buy in Mexico

Making It Easier to Buy in Mexico

When Thomas Keeling, a New York City firefighter, retired from the force in 2003, it took him less than a month to leave College Point, Queens, for this beach town about five hours south of Tucson.

Mr. Keeling, 43, paid less than $500,000 for a 3,800-square-foot house with spectacular views from nearly every window.

But the fishing season in San Carlos proved too short for Mr. Keeling. He hopes to move across the Sea of Cortez to Cabo San Lucas — “where you can fish all year,” he says — and has listed his house for $695,000 — about 50 percent more than he paid two years ago.

Land boom drives off practice areas

Land boom drives off practice areas [South Florida]

When Hunter Nicholl first began playing golf 20 years ago in Naples, there were plenty of places to practice.

“There used to be (driving) ranges everywhere,” Nicholl, 35, said of the first stop for many newcomers to the game. “You had one every three or four miles.”

Thanks to Southwest Florida’s explosive growth and ongoing real estate boom, the opposite is true today.