Beach ball By ANDY WANG Last Updated: 5:18 PM, December 3, 2009 Posted: 11:59 PM, December 2, 2009 The Miami winter social season starts in earnest this week as Art Basel, Art Miami and dozens of satellite events take over much of the city’s prime real estate. But when it comes to selling ultra-pricey Miami [...]
By LINGLING WEI and ANTON TROIANOVSKI – Wall Street Journal About 10 investors are expected to submit bids to the Federal Deposit Insurance Corp. by Friday for $5 billion in condominium loans and other property held by the failed Corus Bank, in a key test of U.S. commercial real-estate values. The government-run auction, with loans [...]
South Florida Business Journal – by Brian Bandell A New York City investor is the new owner of the Caribbean Miami Beach condominium. The buyer, an affiliate of New York City-based Melohn Properties, bought the mortgage from ailing Corus Bank. The Chicago-based bank (NASDAQ: CORS) had given Caribbean Group Owners a $127.7 million mortgage to [...]
David Sutta (CBS4) Are the good ‘old days of real estate back? It appears so in Downtown Miami. In recent weeks developers have sold hundreds of condos, in a flurry of activity they haven’t seen since the peak of the housing market. Some builders are actually running out of inventory. The first building to sell [...]
BY MONICA HATCHER mhatcher@MiamiHerald.com Patricia Delinois’ Black-Berry is buzzing again. After a long, dreary drought, her Sunday afternoons are filling up with open houses.Delinois, who handles very expensive real estate, says a flurry of new activity is providing hope that the luxury home market has a pulse again, after taking a beating in recent months [...]
By DAVID STREITFELD New York Times After a plunge lasting three years, houses have finally become cheap enough to lure buyers. That, in turn, is stabilizing prices, generating hope that the real estate market is beginning to recover. Eight cities, including Chicago, Cleveland, Denver and San Francisco, showed price increases in May, up from four in [...]
By Lynn Adler NEW YORK (Reuters) – U.S. single-family home prices rose in May from April, the first monthly increase in nearly three years, suggesting prices may be stabilizing, according to Standard & Poor’s/Case Shiller home price indexes on Tuesday. The annual rate of decline for the 10- and 20-city indexes improved for the fourth [...]