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condos: Tonight's Keynote Speaker Joins Starwood Capital's Team - 03/23/10 09:16 AM
Jonathan M. Pertchik, the former chief restructuring officer for luxury condo developer WCI Communities which built several South Florida towers before seeking bankruptcy protection for a time, will have plenty to discuss as the keynote speaker at tonight's Condo Vultures® seminar.
Pertchik has just been named the chief operating officer for the newly created residential division of Starwood Capital, which last fall beat out several bidders for the $3 billion portfolio of the failed condo construction financier Corus Bank. Starwood Capital acquired the failed Chicago bank's portfolio in a complex deal that allows the Federal Deposit Insurance Corp. - the appointed receiver … (0 comments)
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condos: Tax Assessor: Miami Condo Values Down As Much As 40% - 05/13/09 08:58 AM
Condominium owners in Greater Downtown Miami can expect to see their assessed real estate values for property tax purposes drop by as much as 40 percent in the upcoming year based on early indications from Miami-Dade County Property Appraiser Pedro J. Garcia.Garcia's office is currently assessing the value of every property in the county for 2008 property tax purposes, which are in arrears. Once these values are computed on July 1, government officials will then begin the process of levying taxes against every property owner in order to generate revenue to operate the county, school system, and local municipalities."Property taxes generally … (0 comments)
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condos: Miami's Condo Crash Subject Of New eBook - 03/12/09 08:08 AM
Miami's great condominium crash of the 21st Century is the subject of a new 350-plus page eBook scheduled for release in April by Condo Vultures® LLC.The soon-to-be-published eBook provides a running chronicle - in words and photos - of Greater Miami's condominium boom and bust since 2006. This eBook is a compilation of more than 100 chapters written by a variety of South Florida industry professionals including:- Peter Zalewski, a consultant, real estate broker, and former South Florida financial journalist;- Mark Zilbert, a Miami Beach broker and creator of CondoFlip.com;- Jim Freer, a veteran South Florida banking journalist;- John Fakler, a … (0 comments)
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condos: JP Morgan Chase Offers Loan Modifications To Investors - 01/21/09 09:53 PM
Fearing widespread mortgage default on $1.1 trillion of investor-owned properties, JP Morgan Chase has launched a new loan modification program aimed at keeping landlords paying their debt service.JP Morgan Chase's loan modification program - dubbed The Way Forward - piggybacks off the financial institution's efforts implemented late last year geared toward homeowners who are primary users. "Over the past two years, Chase has helped 330,000 families avoid foreclosure," according to a company statement. "And now, by addressing investor-owned loans, we will help even more Americans keep the homes they've worked so hard to buy."As part of the initiative, investors can utilize … (0 comments)
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