Office complex that cost $1M sells for $19M

Office complex that cost $1M sells for $19M

In a deal that reveals his business acumen and modus operandi, not to mention the region’s hot real estate market, Sarasota attorney and investor David Band sold a cluster of medical office buildings at the southwest corner of Tuttle Avenue and Bahia Vista Street for $19 million.

It’s a property that Band bought for just $1.2 million in February 2002.

“That’s what you’re supposed to do in real estate,” said Ian Black, a commercial real estate broker in Sarasota. “It’s a classic example of buying low and selling high.”

MiamiHerald.com | 01/18/2006 | Key condo debtor case settled

Key condo debtor case settled

A woman has agreed to settle her bankruptcy case rather than wage a legal battle over whether appreciation in her condo should count against the homestead exemption in the new bankruptcy law.

A Sunny Isles Beach woman — among the first to become entangled in tougher bankruptcy rules intended to end Florida’s reputation as a debtor haven — won’t have to sell her condo to pay creditors.

‘Don’t file bankruptcy if [you] have more than $125,000 in equity,” he warned.

Family sells Sarasota County ‘oasis’ for $40 million

Family sells Sarasota County ‘oasis’ for $40 million

One of the last remaining big chunks of agricultural land west of Interstate 75 has been bought up for a high-end development, and at what is likely a record land price.

The 80 acres near Stickney Point Road, owned by one of the region’s founding families, is being bought by British home building giant Taylor Woodrow for $40 million.

The same developer that had been chasing Sarasota’s Pier 550, Taylor Woodrow plans 360 homes on the property in a “Tuscan-Italian” style community that will average $750,000 per house.

Texas real estate market undervalued

Texas real estate market undervalued

Housing experts say Texas is bucking a national trend in real estate. Investors are flocking here when sales are slow across the country.

Nationally, sales of existing homes are expected to fall a little more than four percent this year, according to the National Association of Realtors.

“In southern Travis where there’s the land to build, yes they’re coming – and they’re coming in droves. Builders from all over the area in Texas and nationally are building as much as they can,” Walker said.

Homes’ Tax Cap May Get Mobile

Homes’ Tax Cap May Get Mobile | theledger.com

Booming real estate market has officials taking a new look at a homestead break.

What looked like a radical idea a year ago — to allow Florida homeowners to take part of their tax cap with them when they buy a new home — isn’t so radical anymore.

Leaders in the Legislature, including the next Senate president, Ken Pruitt, are embracing the idea that Florida’s “Save Our Homes” property tax cap needs to be portable so Floridians have one fewer hurdle to buying a new home, be it empty-nesters wanting to downsize to a condominium or a young family needing more bedrooms.

He likes ‘ugly situations’

He likes ‘ugly situations’

HUNDREDS of HomeVestors billboards across the United States proclaim, “We buy ugly houses.”

But local franchisee Nick Cifaldi says the billboards should read: “We help homeowners in ugly situations.”

“It’s not what people think,” says Cifaldi, who bought a franchise in HomeVestors of America 18 months ago. “It’s not like I’m just buying ugly, dumpy houses. There are a lot of houses that are very nice. It’s just the situations that are ugly.”