Foreclosures rise for 8th straight month— Florida has the highest rate
Foreclosures across the U.S. continue to rise—and the increases are in the double digits. "Foreclosure activity continued its steady upward trend in October, the eighth straight month of year-over-year increases. Starts rose nearly 20%, while completed foreclosures were up 32% from last year," says Rob Barber, CEO at ATTOM, a real estate analytics firm. But there is some good news—while these foreclosure increases sound dire, the rates are "well below historic highs," says Barber. More from Realtor.com, CNBC, and World Property Journal.
This Florida mega-development is turning suburban backyards into a nature paradise
Sunbridge was just named the nation’s first Homegrown National Park Community, a designation highlighting the project’s focus on native plants, nature conservation, and sustainability focused on restoring a measure of biodiversity. Containing an array of different single-family homes, constructed by different developers, mostly ranging in price between $300,000 and $600,000, the larger development will feature a slate of standard suburban homes. [Source: Fast Company]
Florida Realtors sign Japan partnership
During the Southeast U.S.–Japan Association meeting in Tokyo, Florida Realtors signed a Memorandum of Understanding with the Japan-America Real Estate Coalition Office (JARECO), representing a vast network of real estate organizations across Japan. The agreement establishes a framework for sharing market data, professional training, and research, coinciding with ZIPAIR, a Japan Airlines subsidiary, preparing to launch the first nonstop passenger flights between Orlando and Tokyo in early 2026. [Source: Florida Politics]
Central Florida's housing turnover hits decades-low: Why homeowners are staying put
Orlando's real estate market is shifting as homeowners stay put now more than ever, while housing turnover has plunged to its lowest level in decades. The turnover rate – or the number of homes sold in the first nine months of the year divided by the total number of sellable homes – is at the lowest level in decades, according to a report from Redfin. In Orlando, there were about 26 sales per 1,000 homes in the first nine months of the year, with the Central Florida region seeing among the largest turnover declines. [Source: Orlando Business Journal]
AARP Florida survey finds older Floridians anxious about housing stability
Floridians age 45 and older are increasingly anxious about their financial security, health care access and housing stability, according to AARP Florida’s newly released Vital Voices survey. The statewide report — conducted every three years to identify the top issues facing older residents — paints a picture of deepening economic strain and persistent uncertainty over the cost of living and future government support programs. [Source: Florida Politics]
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19,000
A new beachfront home with 200 feet of direct Atlantic Ocean frontage and more than 19,000 square feet of interior space is the largest single-family house ever listed in the Florida Keys. [Source: Mansion Global]
› South Florida realtors emphasize importance of researching homeowners associations
Realtors in South Florida are advising potential homebuyers to thoroughly investigate homeowners associations (HOAs) before finalizing any property deals, emphasizing their impact on property values and community dynamics. Nathaniel Crawford, managing broker for Black Luxury Realty, emphasized the importance of understanding the role of HOAs in maintaining property appearance and values.
› Swerdlow seeks development deal with city of Miami
Swerdlow Group is seeking a deal with the city of Miami to build affordable housing on two city-owned properties in Little Havana. The City Commission will consider a resolution on Nov. 20 asking the city manager to negotiate a 99-year land lease with SG Little Havana LLC, an affiliate of Miami-based Swerdlow Group, for two properties. The resolution would require approval from four of the five city commissioners because these two properties are not headed to public bidding.
› Builder behind St. Petersburg’s tallest tower wants to redevelop Trop site
Another developer has thrown his hat in the ring to revamp St. Petersburg’s 86-acre Gas Plant District, the current home of Tropicana Field. This time it’s John Catsimatidis, the CEO of Red Apple Real Estate and New York billionaire behind the Residences at 400 Central, St. Petersburg’s tallest tower. In a letter sent to St. Petersburg Mayor Ken Welch and other city council members, Catsimatidis said his company is well-positioned to transform the site.
› Key West families sue Balfour Beatty, alleging toxic living conditions in military housing
Recent lawsuits against Balfour Beatty highlight serious concerns about the company’s ability to properly manage and maintain residential developments, particularly after families at Naval Air Station (NAS) Key West in Florida reported unsafe and unhealthy living conditions. Plaintiffs describe issues such as mold, collapsing ceilings, insect infestations and exposure to hazardous materials, alongside claims that Balfour Beatty failed to address complaints fully and misled residents about repairs.