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Florida real estate firm accused of ‘equity theft’ by St. Louis homeowners
ST. LOUIS — Dianne Allen had been ignoring the calls from a number she didn’t recognize. But after so many, she finally relented. The woman on the other end asked if she was the owner of 8441 Midwood Avenue in Berkeley. “What’s this concerning?” Allen asked. “You could be eligible for up to $2,000 in upfront cash if you agree to use our real estate service,” the woman said. Allen needed some money to catch up on her truck payments. And before the end of that day in August, a notary was at her house, thumbing through papers for her to sign. They gave her a check for $500. “I…
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Florida couple loses life savings in email real estate scheme
ORLANDO, Fla. – A couple who just lately moved from Connecticut to Central Florida has grow to be the latest victim of a nationwide multi-billion-greenback authentic estate scheme dubbed Business enterprise Electronic mail Compromise. Aimee and Michael Ferla confess they were fooled by e mail messages past thirty day period that appeared to be from the title enterprise employed to cope with the closing of their home in De Leon Springs. [TRENDING: WATCH AGAIN: SpaceX Falcon Heavy rocket launch from Florida | Merritt Island homecoming king gives crown, sash to classmate | Become a News 6 Insider] “I sent the wire on Sept. 6, we signed all the closing documents…
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FEMA Rule Gives Investors An Opportunity To Swoop In On Florida Real Estate
The devastation wrought by Hurricane Ian could be an option for authentic estate investors mainly because of a federal catastrophe rule that victims are just beginning to become informed of. Householders alongside Florida’s Gulf Coastline whose residences had been weakened and ruined by the storm are topic to the Federal Crisis Administration Agency’s (FEMA) Sizeable Damages and Substantial Improvements rule, also recognized as the FEMA 50% rule. The rule also applies to professional house. According to the FEMA 50% rule, if any repairs or renovation to the dwelling are estimated to cost more than 50% of its value, the owner is necessary to convey the framework into compliance with flood…
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How Designer Trish Becker Saved a Decrepit 1930s Spanish Colonial Home in Florida
In September 2020, jewelry and interior designer Trish Becker took on an ailing Spanish Colonial style stucco home in West Palm Beach, Florida. Not only was it missing a kitchen (the prior buyer had gutted it before losing steam and putting the house back on the market), there wasn’t any plumbing. “We discovered that after we bought it, so the reno was even more significant than imagined!” Becker says. Plus, the house was infested with rodents. Undeterred, the designer worked her way through the 2,900-square-foot property, which was built in 1931, turning it into a three-bedroom showplace with a funky, Mediterranean sensibility. Before this project, Becker had never worked on…
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Real Estate Fund Quietly Purchases Entire Community Of 233 Single-Family Rental Homes In Panama City, Florida
Real estate investment platform Fundrise recently acquired Sunset Village, a community of 233 detached, single-family rental homes in Panama City, Florida. The purchase was made by a joint venture between two Fundrise-sponsored funds: the Flagship Real Estate Fund, which was backed by Goldman Sachs Group Inc. (NYSE: GS) last year with a $300 million credit facility, and the Growth eREIT VII. The joint venture acquired the community for approximately $110.2 million from a developer who completed construction of the homes in February 2022. According to Fundrise, approximately 52% of the homes were occupied at the time of acquisition. The community consists of three-, four- and five-bedroom homes. A portfolio update…
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Housing bubble 2022? Real estate expert on Florida, Austin, Boise
Anyone looking to buy a house right now is in a rough spot: Home values continue to be at all time highs, and rising interest rates make mortgages increasingly expensive. As of March, Zillow values the typical U.S. home at $337,000, a nearly 21% increase from year ago and a nearly 34% increase from 24 months ago. In some of the country’s hottest housing markets, the jump in home values is even more dramatic. Home values in Austin, Texas, for example, have increased some 71% since March 2020, according to Zillow data. In fact, nearly 40 the country’s biggest metros have seen home values increase more than 40% in the…
