Miami Tycoon Sues Real Estate Blogger for $25 Million

The fracas erupted after Lechuga criticized Hollo's Opera Tower development, calling the project "doomed" and predicting that at least half of the units wouldn't sell. The kicker, however, was when he claimed Hollo went bankrupt in the 1980s, which apparently never happened. The otherwise contrite Lechuga equivocates about the definition of the word "bankrupt," but unfortunately for him, that's not really one of those gray areas, definition-wise. Still, it's unlikely the lawsuit will produce much money from Lechuga.

Miami developer bets on condos' future

he condominium developer who led South Florida's high-rise building boom is making a $1 billion bet that the region's real estate market is a bargain.

Amid a slumping condo market, developer Jorge Perez is joining with a Wall Street firm to create an investor fund that will buy troubled mortgages and distressed property that ranges from raw land to finished condominium units in the southeastern United States. He will look at properties built by other developers as well as by his own Miami-based Related Group.

Florida's real estate market reeling ?

brokers in Miami increasingly are targeting wealthy New Yorkers as a potential new audience to buy their unsold properties. The push to market to New Yorkers is ramping up as brokers rush to sell properties now on the South Florida market before a flood of new condominiums goes on sale later this year.

Miami Business agenda

Miami has seen a record condo boom turn into a huge real estate bust. The Worst 25 Housing Market forecasts are selected from more than 250 local housing ...
On the House: Fear itself now rules the market Philadelphia Inquirer

Mortgage Fraud Surging In Florida

More potential mortgage fraud cases were reported by lenders in Florida in 2007 than in the entire country the previous year, William Stern, a supervisory special agent with the FBI, said Friday.

And Tampa, he said, ranks seventh on the agency's top 10 list for mortgage fraud, joining another Florida city on the list, Miami, which is No. 4. Stern highlighted the state's particular dishonor at an Appraisal Fraud Conference in downtown St. Petersburg that drew 110 appraisers, lenders, title agents and Wall Street investors.

Florida has strong real estate future

The basic fundamentals driving Florida's real estate market, which are historically low interest rates, stabilizing prices and reductions in inventory, indicate a positive environment for a recovery.

People purchase real estate as a result of positive events, like births, marriages and promotions, and because of unfortunate situations, including death, divorce and financial difficulties. These are the natural factors that influence the real estate market.

Real-estate gains

Why does The Miami Herald seem to love reporting doom and gloom about South Florida's real-estate market? In reality, property owners still have record levels of equity.

Homeowners control near-record equity holdings, reaching almost $11 trillion. The second-quarter equity number was down slightly by about $6 billion compared to 2006, but that is a drop in the bucket in an $11 trillion marketplace. The second-quarter equity number was $48 billion higher than it was at the end of 2006.

Increasing Miami Beach House Resale Value

Small home improvement efforts can go long way. As the real estate value of properties in Miami Beach area are rising slowly the touristic area homes of Miami Beach and South Beach in Florida can benefit from small home improvements and increase resale value of houses.

The city of Miami Beach has long been a famous tourist landmark in the United States. Its historic Art Deco district has had many tourists gawk with awe at the collection of uniquely designed and colored buildings and structures,