1 2 »

Fla. attorney general considering New York’s mortgage settlement banks complaint

Florida Attorney General Pam Bondi Florida’s attorney general Pam Bondi said her office is considering claims that Wells Fargo and Bank of America are violating the terms of last year’s nationwide, five-bank mortgage settlement. New York Attorney General Eric Schneiderman has notified a national oversight commission created to enforce the agreement, which requires banks to […]

‘A tenant’s market’ in Broward, CBRE report says

Kenneth Krasnow, CBRE South Florida Office space in Broward County, Fla., dropped in the first quarter to a vacancy rate of 18.6 percent while retail and industrial space vacancy hovered around 8 percent, according to a CBRE research report released today. The county north of Miami-Dade saw new tenants absorb 118,000 square feet of additional […]

Foreclosure cases clog South Florida courts

Foreclosure cases mount up Clearing the dockets of foreclosures can appear a Sisyphean task for South Florida’s courts as new filings keep apace with closed cases, the Palm Beach Post reported. From July 1 through the end of March, judges moved 168,589 cases out of the system statewide, but 143,772 cases were added during the […]

Renters getting crushed by U.S. housing costs

Share of working households with a severe housing cost burden by state, 2011 In the grand scheme of personal finances, your take home pay is like an apple pie. Your bills are the hungry flock of kids banging their fists on the table to get their share. For renters in America, housing is usually the […]

Fla. Senate approves changes to state-run insurer

Sen. David Simmons Florida lawmakers approved major reforms to state-run Citizens Property Insurance Corp. in a Senate vote Thursday, the Miami Herald reported. The bill would push up prices for new policyholders and “steer” current policyholders into the private market, the Herald reported. The debate over the bill dragged two weeks over concerns about substantial […]

Land cleared as commercial real estate heats up

Flagler Station UPDATED, 4:22 p.m., April 26: Two major tenants signed $4.2 million in leases for space at Flagler Station as commercial real estate in South Florida stirs anew ahead of Panama Canal expansion plans, according to Corporate Solutions senior vice president Michael Torna, the tenants’ broker. Global air-freight provider Traffic Tech leased 38,000 square […]

International buyers mix for oceanfront units

Philip Spiegelman International buyers are visiting South Florida in search of sun, sand and condos in which to invest their cash. “Three hundred feet of beach for 24 people? It doesn’t exist,” Philip Spiegelman, a principal at International Sales Group, or ISG, said at a recent sales party on a beach in Hollywood, Fla., part […]

Chinese investors build rental holdings in Miami

Miami Chinese investors have joined an international group of buyers in Miami, picking up properties to build a rental portfolio of condos, houses and duplexes by purchasing bank-owned units, Daily Business Review reported. Like other overseas buyers, Chinese private equity groups see real estate as relatively inexpensive in South Florida, where prices are still depressed […]

Florida lawmakers tag mortgage settlement funds for non-profit housing, foreclosure court cases

Florida legislative budget-writers are shifting more of the state’s national mortgage settlement money into programs targeting homelessness and foreclosure-clogged courts, the Orlando Sentinel reported. An amendment to Senate Bill 1852 would reallocate an additional $200 million from the settlement. The legislature has already devoted about $275 million to rental assistance and housing down-payments and housing […]

Zillow chief sees home value surge halting

Spencer Rascoff South Florida home values rose 12 percent in the first quarter of 2013, according to Seattle-based Zillow.com, but the surge won’t last, chief executive Spencer Rascoff told an interviewer at University of Pennsylvania’s Wharton School. “South Florida is appreciating very quickly. That’s a little worrisome. I think those rates of appreciation are unsustainable,” […]