Couple uses leverage to build an empire of eight vacation properties
“There’s not that much waterfront land out there,” she says. “So I think prices are going to continue to go up.”
Bradenton Florida Mainstreet Apartments going condo
Bradenton Florida Mainstreet Apartments going condo
Mainstreet Apartments were sold last month to Tarragon Realty Investors for $38 million, and last week residents were informed that the community is going condo.
Though the signs still say Mainstreet, residents of the newly named 210 Watermark may soon find themselves looking for a new place to live unless they want to buy.
Westside Lofts condo files for bankruptcy
Westside Lofts condo files for bankruptcy
Proposed South Beach condominium Westside Lofts filed for bankruptcy in a bid to reorganize the troubled development.
The move comes amid legal battles in Miami-Dade Circuit Court between the development company and its lender and general contractor. Eastern National Bank is seeking more than $2 million for an overdue construction loan and Diez Construction $200,506 for unpaid bills, according to court filings.
Next stop: Palmetto (South Florida)
Next stop: Palmetto (South Florida)
Newcomers love the city’s small-town charm, old-timers wonder what’s being lost and government tries to keep up
Sleepy Palmetto has about 5,000 homes and 14,000 residents. But the city has OK’d another 4,500 homes to go up within the next five years. Most are swank resort condos that contrast sharply with the homespun farm town that old-timers know.
Boston condo flippers may be in too deep
Boston condo flippers may be in too deep
The Hub’s jittery condominium market faces another storm cloud: hundreds of unsold units in new condo towers that brokers and mom-and-pop investors had bought early on in hopes of flipping for quick profits.
Some have exited, as planned, with thousands in windfall profits. But others may not be so lucky amid falling sales and dropping prices in an overloaded condo market, real estate executives say.
You can survive ARM increase
First, the bad news: If you’re among the millions who took out an adjustable-rate mortgage in the past few years, your monthly payment is likely to jump on the next adjustment date — by 20 percent, 30 percent, even 40 percent. Blame the Federal Reserve for driving up short-term interest rates.
But there’s good news, too: You can still get a good deal refinancing to a 15- or 30-year fixed-rate mortgage. Thank the bond market, which has defied the Fed and kept long-term rates low.