Arkansas bank is biggest lender in Miami-Dade's condo boom

Arkansas bank is biggest lender in Miami-Dade's condo boom

During a period when banks across Florida were hesitant about lending on large construction projects, Bank of the Ozarks was on a tear: With $22 billion in assets, it provided more than $1.2 billion in construction loans in the Miami metropolitan area from 2013 through 2017. The bank was the largest condo construction lender for Miami-Dade’s biggest projects, responsible for 26.5 percent of the total dollar volume of loans issued to the 25 biggest projects. Bank of the Ozarks, the largest bank in Arkansas, is also the biggest construction lender in Los Angeles. [Source: The Real Deal]

Florida median home prices continue to uptick in 2018

According to the Florida Association of Realtors, Florida's housing market reported slightly more new listings and higher median prices during the first quarter of 2018. A shortfall of for-sale inventory continued to impact Florida residential property sales even as the number of owners listing their properties for sale inched up over the quarter. More from World Property Journal and National Mortgage Professional Magazine.

Repealing Florida's 'Non-Homestead Exemption Cap' could result in annual $700 million tax increase

A new report from the state's independent, nonpartisan, nonprofit government watchdog and taxpayer research institute, Florida TaxWatch, shows that failure to make permanent the non-homestead exemption cap could result in Floridians paying as much as $700 million more in property taxes annually. Read the full Florida TaxWatch report here.

Disney expansion turning Orlando into hot spot for Brazil real estate investors

International investors have been the predominant investors in South Florida and they are now looking at Orlando because the returns are good thanks to tourism. This is a unique time for Orlando. The window of opportunity has not closed like I think it has in South Florida for the time being," says Kevin Mays, director of development at BTI. [Source: Forbes]

“Halfback” trend revives as more retirees leave Florida for other states in the South

The economic recession in the late 2000s slowed the flow of native-northern halfbacks who moved to Florida and then moved roughly halfway back, settling in small mountain towns in such states as North Carolina and Tennessee. But the halfback trend, which was well under way by the early 2000s, has regained momentum. [Source: The Real Deal]

ALSO TRENDING:

› Tampa's Lakeview Center sold for $21.8 million [Tampa Bay Reporter]
TerraCap Management, a commercial real estate investment management company based in Florida, has sold Lakeview Center in Tampa for $21.8 million. The buyer for the 186,300-square-foot office property is TriOut Advisory Group, a Miami-based real estate investment firm.

› Henley USA expands to hospitality market in South Florida [Longview News Journal]
Henley, the global private equity real estate investor, has purchased two hotels in the vibrant urban areas of Little Havana and South Beach, Miami. It will fund the transformation of the properties by introducing both private and shared accommodations at each location, providing travelers more options than a traditional hotel or Airbnb stay.

› Surge of home starts in Hillsborough, Pasco still can’t meet demand [Tampa Bay Times]
Over the past 12 months, the number of new home starts jumped 16 percent compared to the previous 12-month span. In Waterset alone, 340 houses began construction as bulldozers and backhoes continued to transform one-time farm fields into what ultimately could be a community of 10,000.

› Real estate heavy hitter leads company with focus on vision [Business Observer]
In her over three decades in the real estate industry, Judy Green has helped grow several successful companies — all while staying true to her vision and herself.

Tags: Real Estate eNews

Previous Real Estate Updates:

• Florida insurance market full of ‘low quality' companies, study finds
• Real estate pros say Florida's future looks bright
• What are squatters' rights? New Florida law targets occupancy fight
• Is trouble brewing in Florida's housing market? Here's what the data says
• Florida is growing. Can affordable housing keep up?
• Florida condo sales plummet despite falling prices and rise in 'motivated' sellers
• Want to get rich quick selling Florida real estate? Think again.
• New law would give new homebuyers better idea what their property taxes will be
• When will housing affordability improve? Spoiler alert: It will take some time