Real Estate Finance Headlines: November 2009

Monday, November 30, 2009

Dade's new flood-risk maps are a mixed blessing for homeowners

Mercy Torres has weathered massive rainstorms and more than one hurricane during the past 25 years in her Westchester home. Not once has her property flooded. http://bit.ly/4VUIMe

Special session on rail set for Thursday

Florida lawmakers will convene on Thursday for a special session on rail transit funding.

http://bit.ly/5fdYut

UM study: Stem cells help heart patients

A study led by the University of Miami may cause a sea change in cardiac care as it shows stem cells from bone marrow appear to help heart attack patients recover better.

http://bit.ly/4OuHPN

Arch Aluminum and Glass files Chapter 11

The decline of the construction market has taken another South Florida company into bankruptcy.

http://bit.ly/80MnOB

Report: Regulatory actions against banks slip

Regulatory orders and actions by federal banking regulators eased for the first time in at least four quarters, according to the Third-Quarter 2009 Regulatory Actions report from MortgageDaily.com. However, more cease and desist orders were issued.

http://bit.ly/76Wk9q

FirstBank files foreclosures in Miami, Oakland Park

FirstBank Puerto Rico has filed foreclosure lawsuits targeting commercial projects in Miami and Oakland Park.

http://bit.ly/4WE37d

Sunday, November 29, 2009

Real estate listings from Michael Y. Cannon

OPA-LOCKA<p/>WAREHOUSE SELLS<p/>FOR $5,250,000<p/> Location: 12890 Aswan Rd.<p/> Seller: Overland Holding Corp., represented by Eugene Calabrese, president. http://bit.ly/5O99P3

Saturday, November 28, 2009

Demystifying design: With Design Miami, Ambra Medda opens a window into the world of decor

Ambra Medda is in her office overlooking Northeast Second Avenue sitting in a Gio Ponti mid-century Italian chair and facing two other gems: an orange clay chair designed by Maarten Baas and a delightful petite chair found at a Paris flea market when she was a little girl. The bookshelves are stacked with big bound design bibles and the walls are dressed in abstract art. http://bit.ly/5tIssq

Wednesday, November 25, 2009

3 economic reports give reasons for optimism

In a hopeful sign for the economy, the number of newly laid-off workers filing claims for unemployment benefits fell below 500,000 last week for the first time since January. In addition, consumer spending also picked up in October, and new-home sales hit their highest point in more than a year. http://bit.ly/7WCqeA

Government revises GDP to 2.8%

The government's second read on third quarter economic growth is a little weaker than first blush.

http://bit.ly/7ZgdnY

Rothstein lawsuit targets Levin

Legal battles over Scott Rothstein’s alleged billion-dollar financial scandal mushroomed into a fight between titans of the Fort Lauderdale investment world on Wednesday.

http://bit.ly/4Wdwuw

Edgewater Lofts condos sold in bulk deal

The 69-unit Edgewater Lofts condominium sold 50 units at the second lowest bulk price - $99 a square foot – greater downtown Miami has recorded.

http://bit.ly/6b9ZDF

Fort Lauderdale’s Georgian Oaks loses $11M foreclosure judgment

Glenn Wright Construction & Development lost a $10.7 million foreclosure lawsuit targeting its Georgian Oaks single-family home project in Fort Lauderdale.

http://bit.ly/5CNzf2

Former GlobeTel CEO pleads not guilty

The former CEO of Fort Lauderdale-based GlobeTel Communications Corp. – a publicly traded company now known as Sanswire Corp. – pleaded not guilty on Wednesday to charges he participated in a $20 million scheme to fraudulently inflate GlobeTel's revenue between 2002 and 2004.