Florida leads nation in foreclosures

Florida had the highest foreclosure and mortgage delinquency rate in the nation during the third quarter of 2009, as 18.8 percent of all loans were either 90 days overdue or in foreclosure, the Mortgage Bankers Association reported Thursday.

Mortgage rates fall to record lows

Mortgage rates dropped to a historic low, but fewer people are getting home loans.

The benchmark 30-year fixed-rate mortgage fell 13 basis points, to 5.06 percent, according to the Bankrate.com national survey of large lenders released Thursday. A basis point is one-hundredth of one percentage point.

High-profile builder's Palm Beach office complex to be auctioned

Palm Beach builder Robert Matthews' development dynasty has tumbled during the past several months, losing to foreclosure his historic Nantucket Inn, the former Heart of Palm hotel in Palm Beach, and now a second island property, which will go to auction next week.

U.S. mortgage delinquencies hit another quarterly record

The pace at which people fell behind on their mortgages slowed during the summer for the third consecutive quarter, but the overall delinquency rate hit another record, a new report shows.

Equity One buys land in New York

North Miami Beach-based Equity One, an owner, developer, and operator of shopping centers, said Tuesday it has closed on the purchase of a 22-acre property on Long Island, N.Y.

HOSPITALITY

Low-frills hotels have advantage in downturn

No room service? No waiters? No problem. Developers of limited-service hotels say they're hurting, too, but feel braver about jumping into a rocky lodging market.

Real estate listings from Michael Y. Cannon

HIALEAH

OFFICE BUILDING

SELLS FOR $675,000

Location: 2899 W. 4th Ave.

Seller: First States Investors 4200, LLC, represented by Allan B. Rothschild, vice president.

SOUTH BEACH | CASA CASUARINA

Cash crunch shuts Versace hot spot

Casa Casuarina has closed after parting ways with embattled lawyer Scott Rothstein. The former Versace manse hopes to reopen as South Beach's fanciest party spot.

Mortgage application index falls to lowest level since 2000

Mortgage applications to purchase homes in the United States plunged last week to the lowest level in almost nine years as Americans waited for the outcome of deliberations to extend a government tax credit.

Dip in S. Fla. foreclosure rate might be temporary

The number of homes mired in the foreclosure process in Miami-Dade County fell by 25 percent in October compared to the same month last year.

But the decline followed a 96 percent year-over-year increase in September and so may signal little relief.

REAL ESTATE

Home sellers keep on cutting prices

Nationwide, home prices have been lowered by $28.1 billion, or 10 percent per home.

REAL ESTATE

FHA moves to boost condo market

The FHA recently announced more lenient, albeit temporary, underwriting guidelines for condo projects, but is still singling out Florida for special attention.

Florida home buyer program hits snag

The state's plans to stoke the housing market with down-payment assistance have hit a bureaucratic wall.

South Florida housing agencies say the money arrived late and demand for the grants from home buyers has been weak.

Federal housing plan has helped only 12% in Florida

The Obama administration's plan to combat the foreclosure crisis has reached about 20 percent of troubled homeowners in the states most affected by the housing meltdown, according to data being released Tuesday.

MORTGAGES

Slightly fewer South Florida homes 'underwater'

Nearly half of all owners of single-family homes in the Miami-Fort Lauderdale metropolitan area were underwater at the end of the third quarter, meaning their homes were valued for less than the mortgages owed against them.

46% of South Florida homeowners are `underwater'

Nearly half of all owners of single-family homes in the Miami-Fort Lauderdale metropolitan area were underwater at the end of the third quarter, meaning their homes were valued at less than the mortgages owed against them.

Real estate listings from Michael Y. Cannon

DEERFIELD BEACH

OFFICE BUILDING

ACQUIRED FOR $1.2M

Location: 1300 E. Hillsboro Blvd.

Seller: Denise A. Ashleman.

REAL ESTATE

In current real estate market, even God's House is for sale

In South Florida's bleak real-estate market, houses for sale aren't the only glut. Churches and other religious properties, some of them bank foreclosures, are plentiful, and stuck in a commercial purgatory.

CHINESE DRYWALL

Expert: Problem of defective Chinese drywall is no surprise

During a summit on defective Chinese drywall, a toxicologist said that kind of problem was expected.