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Archive for May, 2007

Buyers and Builders File Lawsuits, Hope to Ditch Contracts

Wednesday, May 30th, 2007

With the ebb in real estate cash flow, insiders are turning to lawsuits — builders, subcontractors and Florida mortgage borrowers are suing each other to get out of contracts or simply to get paid. (more…)

Time to Buy in Indian River County?

Wednesday, May 30th, 2007

Sales of existing homes in Indian River County continued to slide, as home prices inched down and Realtors sold 30 fewer homes in April than they did in the same month last year. (more…)

Editorial: Slashing Property Taxes May Not Be Prudent

Wednesday, May 30th, 2007

The following appears in the May 29 issue of Florida Today, and offers a different perspective to the many voices we’ve heard on the property tax issue to date. (more…)

Nervous Investors Bail On Deposits, Condos

Wednesday, May 30th, 2007

As dozens of condo towers conceived during the Florida real estate boom near completion, investors who snatched up units early in hopes of flipping for a fast profit are increasingly trying to break contracts.

Even if and when that means walking away from fat deposits. (more…)

One Man’s Florida Mortgage Default is Another Man’s Bargain

Tuesday, May 29th, 2007

The blue-tinted windows looked odd, not the facade of your typical Florida house. The stench was rancid.

“It was so bad the rats had died,” Shaun Carcary said. (more…)

Florida Mortgage Lender Interview: State of the Market Discussed

Tuesday, May 29th, 2007

Joe Nunziata is the CEO and co-founder of FBC Mortgage LLC. The Florida mortgage lender recently talked with the Orlando Business Journal about the state of his industry… (more…)

Banks Come to Aid of Troubled Florida Mortgage Borrowers

Tuesday, May 29th, 2007

Fearing that a spike in foreclosures will lower property values, the city of Miramar is exploring ways for the city to help owners in distress. (more…)

Florida Mortgage Lenders, Bankers Blame Federal Reserve for Subprime Woes

Tuesday, May 29th, 2007

Angelo Mozilo, the butcher’s son who built Countrywide Financial Corp. into the largest national and Florida mortgage lender in the United States, was in no mood for soul-searching over the subprime home crisis. (more…)

Brevard County Housing Market Problems Not Over

Tuesday, May 29th, 2007

The housing market in Brevard County is doing better than many other markets in Florida, and doing worse than others, said Franck Kaiser, chief executive officer of the Home Builders & Contractors Association of Brevard. (more…)

Florida Housing Market Slump Felt in Britain

Tuesday, May 29th, 2007

Hundreds of British investors who pumped money into the Florida housing market have been caught out in its spectacular collapse. (more…)