News about properties and real estate
Harbor Beach home sale fetches $12 million: South Florida Sun-Sentinel
A palatial home in the prestigious Harbor Beach neighborhood of Fort Lauderdale sold this past week for $12 million.
The property, which was poised to be the new home of Miami Heat’s Shaquille O’Neal, was snatched up by biotech and pharmaceutical giant Myrtle Potter, when the contract on Shaq’s Miami home fell through.
Slowing home appreciation may help buyers
When Jason and Laura Bennett bought their home two years ago, the housing market was among the hottest in the nation. Would-be buyers made offers as soon as “For Sale” signs went up, then bid even higher in the frenzy to close the deal.
Less than two months after the couple listed their two-bedroom, two-bath condo, they’ve had to slash the high-end of their asking price by $10,000 to keep up with other sellers in the same complex who have dialed back prices in hopes of hooking a buyer.
The sale of more than 2,000 abandoned lots in North Port is scheduled to begin Jan. 19.
Doug Dennison, assistant vice president of Fisher Auctions, has toured some of the available lots in North Port, and he knows that not all of them are in pristine condition.
New tenants will join Winter Springs center
Three new tenants are on their way to Winter Springs Town Center: Carrs Barbers’ Club, Century 21 Real Estate and Fuji Mountain Sushi. Carrs Barber Club, billed as an “old English style” barbershop “with classic grooming and a relaxed club atmosphere,” will open in December. Century 21 and Fuji Mountain Sushi will open in January.
More Return On Equity For Your Investment Property Dollar
Few would deny that real estate is a solid investment. It provides an attractive combination of stability, reliable cash flow, preservation of principal and capital appreciation. However, many investment property owners nearing retirement find themselves in a quandary. They are equity rich, but cash poor, with increases in the value of their property far outpacing income growth. They also are often tied down by the day-to-day issues of property management and, particularly in cities like San Francisco, California, shackled to the constraints of rent (and eviction) control. In fact, San Francisco is home to some of the lowest cash return on equity in the state’s real estate marketplace, which is somewhat counter-intuitive given California’s ever-booming property market.
Thor Adds Philadelphia Mall to Retail Portfolio
Thor Equities L.L.C. has continued a busy year of acquisitions by adding the 640,117-square-foot Cheltenham Square Mall in Philadelphia to its portfolio. Thor has purchased the mall from Simon Property Group for an undisclosed price, according to reports in the Philadelphia Inquirer and Philadelphia Business Journal. A spokesperson for Simon referred calls to Thor, which could not be reached by deadline for comment about its plans for the mall.