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Federal bill to help FHA recoup losses unlikely to pass U.S. Senate

Federal legislation giving the Federal Housing Administration increased power to recoup losses on bad loans is not likely to pass in the Senate by the end of the year because of Republican opposition, according to the Wall Street Journal. The bill would give the FHA the power to force lenders to cover the cost of […]

South Florida Residential Inventory

Compiled by Condo Vultures Realty using the South Florida Shared Multiple Listing Service. Active listings are properties where no current sale contract exists; pending sales are properties in which a contract for sale has been executed, but not yet closed. Listing brokers control the status of a property listing. — Christopher Cameron

Miami metro area construction contracts up 73 percent: report

A crane at Chateau Beach in Sunny Isles Contracts for future construction in South Florida are up 73 percent for the year to date through November, compared to the same period in 2011, according to a report from McGraw Hill Construction. Building contracts totaled $5.4 billion at the end of November, up from $3.12 billion […]

Broward County townhome, condominium prices jump 22 percent: report

The median price of existing single-family homes in Broward County rose 8.8 percent in November compared to the same period in 2011, according to a new report from the Greater Fort Lauderdale Realtors. The median sales price of townhomes and condominiums rose 22.7 percent to $92,000 in November. “The year-over-year median price increase of Broward […]

Survey finds discrimination in foreclosure housing maintenance in South Florida

Florida has one of the highest foreclosure rates in the nation, which means banks are often responsible for maintaining large swaths of  properties. But a study by the National Fair Housing Alliance has found that homes owned by the three largest U.S. banks, Wells Fargo, U.S. Bank and Bank of America, are not maintaining their […]

U.S. home sales rise 15.7 percent: report

National home sales rose 15.7 percent year-over-year in November, the second-highest annual increase in 2012, according to a new report from RE/MAX. That followed a 17.8 percent year-over-year increase in October. In the same period, home prices rose 6.9 percent compared to November 2011. The average number of homes for sale is now 29.1 percent […]

Mortgage apps down, as interest rates inch up

The number of mortgage applications decreased 12.3 percent on a seasonally adjusted basis, while increasing 13 percent on an unadjusted basis, during the week ending December 14, the Mortgage Bankers Association announced today. The Refinance Index fell 14 percent from last week, reaching the lowest level since the week ending November 2, 2012, and the […]

Miami Beach’s Mango’s Tropical Cafe expanding with Orlando location

Mango’s Tropical Cafe in Miami Beach is expanding to Orlando’s International Drive, according to CBRE.The company, whose flagship is located in South Beach, has acquired a 2.9-acre site at 8102 International Drive at the entrance to the Orange County Convention Center district. CBRE’s Bobby Palta provided site selection and buyer representation services to Mango’s. Mango’s […]

Ferraro Law Firm signs deal to occupy floor at 600 Brickell at Brickell World Plaza

600 Brickell at Brickell World Plaza The Ferraro Law Firm has signed a 15-year lease at 600 Brickell at Brickell World Plaza, the Class A office tower announced. The firm, which specializes in chemical, asbestos and pharmaceutical litigation, will occupy the entire 38th floor of the new building starting in mid-2013. The tower was represented […]

Lil Wayne keeps Miami Beach home after paying $7.7 million in back taxes

Lil Wayne’s home Rapper Lil Wayne is holding on to his Miami Beach manse after paying back $7.72 million in taxes he owned to the Internal Revenue Service, the Daily Mail reported. The IRS had filed liens on the home, which is located on tony La Gorce Island. Wayne, whose real name is Dwayne Michael […]