Shocked by home prices? 6 of top 10 cities with fastest-growing home prices are in Florida | Florida Trend Real Estate – Florida Trend
Shocked by home prices? 6 of top 10 cities with fastest-growing home prices are in Florida
Six Florida cities are among the top 10 in the U.S. when it comes to the fastest-rising home prices. Florida dominated the ranking, with prices skyrocketing at national highs in six cities. With low supply, great weather, and national and international interest, the state has seen property prices soar as supply fails to meet demand in the Sunshine State. [Source: Sarasota Herald-Tribune]
How did My Safe Florida Home money vanish so fast and how much more funding does it need?
It took only two weeks for part of the funding for the My Safe Florida Home (MSFH) program to run out. “It speaks to how high the demand is,” state Rep. Anna Eskamani, D-Orlando, said. “It definitely speaks to the need to do more as a Legislature.” The MSFH program ran through over $500,000 allocated for 3,442 initial home inspections and has now put a pause on any new applications. More from WPTV and the News Service of Florida.
Commercial real estate in Florida: A booming market
Florida, renowned for its sunny beaches and vibrant culture, also stands out as a hotspot for commercial real estate investments. The state’s strategic location, favorable tax environment, and diverse economy make it a compelling choice for businesses looking to establish a presence or expand operations. From bustling urban centres to picturesque coastal towns, Florida offers a range of opportunities in the commercial property sector. [Source: News Anyway]
Another sign of trouble? South Florida condo sales drop by double-digits, report shows
It seems like the perfect storm right now for South Florida’s high-rise market. Condo deals in Miami-Dade and Broward counties fell double digits in June, according to the latest real estate report — just as condo owners become increasingly strapped by rising homeowners association fees aimed at meeting new legal requirements to maintain larger maintenance reserves after the Surfside condo collapse. [Source: Miami Herald]
Agent commissions are getting more transparent — but critics still say the real estate industry operates as a ‘cartel’
When the National Association of Realtors (NAR) and major brokers last year lost a federal antitrust suit, the verdict unleashed new scrutiny of the industry and its practices. With new commission rules set to go into effect in August as a result of the settlement, critics — even some inside the industry — are growing louder, saying the National Association of Realtors is a “cartel.” More from Bankrate and the Orlando Sentinel.
75%
Under the Live Local Act, any apartment project is eligible for a 75% savings on its property tax bill if it’s less than five years old, has at least 70 units and offers rents deemed affordable for renters making up to 120% of the region’s median income. [Source: Orlando Sentinel]
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› ‘We lost.’ Settlement in case against ‘King of Coconut Grove’ angers buyers of townhouses
Take a walk down a block of Coconut Avenue and hear the ghostly silence. No children playing, no dogs barking, no neighbors grilling hamburgers. A dozen immaculate townhouses remain uninhabited three years after most were sold or double sold, triple sold and, in one case, quadruple sold to buyers duped by developer Doug Cox into believing they were weeks away from closing on their dream homes.
› A rare Weeki Wachee spring house hits the market for $799K
A rare spring-adjacent Florida home is for sale, and it sits on the banks of arguably one of the most touristy rivers in the Tampa Bay area. Located in Weeki Wachee Gardens at 6090 Waverly Rd., the home was built in 1974 and sits directly on the crystal clear, manatee-preferred Weeki Wachee River.
› South Florida remains a top market for high-income households, real estate experts say
Newly released data from the Internal Revenue Service indicates that South Florida was still a top spot for high-income households as of 2022. Thanks to the migration of high-income households toward South Florida, Miami-Dade, Broward, and Palm Beach counties had a net income gain of about $8.6 billion between 2021 and 2022.
› 100-year-old building in downtown Orlando goes on the market
A more than 100-year-old commercial building has been put up for sale in downtown Orlando. Built in 1923, the two-story, 4,380-square-foot historic Rose Building at 49 N. Orange Ave. is being marketed for $2.9 million, according to a listing from Avison Young’s Nathan Eissler and Gunner Leslie.
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