Florida Trend Real Estate
Why Publix is stocking up on real estate
Why Publix is stocking up on real estate
As Amazon’s acquisition of Whole Foods threatens to upend the entire grocery sector, those currently sitting atop the retail food chain are working hard to solidify their standing. Publix Super Markets is making moves to ensure that it can weather any market challenges by increasingly becoming owners of their stores, as well as the shopping centers in which they operate. [Source: Real Deal Miami]
In May, Florida’s housing market reported more sales, higher median prices and more new listings from owners ready to sell, according to the latest housing data released by Florida Realtors®. May was the 77th consecutive month that the statewide median sales prices for both single-family homes and townhouse-condo properties rose year-over-year. More from Florida Trend, Builder, and Sarasota Magazine.
» Median price for existing single-family homes rises to more than $300,000 in Manatee
» Miami-Dade home sales drop 13% in May: Florida Realtors
» A tight supply cuts into Tampa Bay home sales while prices keep rising
From the frothy assault of the Atlantic Ocean to the placid trespass of the Lake Worth Lagoon, sea level rise is a mounting concern for South Florida property buyers who are turning to science, and private companies, for guidance. [Source: Palm Beach Post]
Florida’s legislature has gone out of its way to mandate disclosure to buyers of residential real estate. Many statutes presuppose that buyers cannot or will not investigate a property on their own and must be warned or offered written information from the seller. Florida courts have also created protection in addition to that provided by the legislature. [Source: Coastal Breeze News]
With the World Cup in full swing, developers and brokers are capitalizing on the 2018 FIFA frenzy to try to boost the visibility of their South Florida luxury projects. Soccer and its international following played a large part in the design of the Paramount Miami Worldcenter. [Source: The Real Deal]
› Punta Gorda real estate broker pleads guilty to wire fraud
A real estate broker in Punta Gorda has pleaded guilty to federal wire fraud charges in a scam that netted nearly $150,000. Hollie D. Dustin faces up to 20 years in prison, but federal prosecutors say they will not oppose a lesser punishment.
› Southwest Florida’s biggest surge in hotel development in 10 years is under way
Southwest Florida is seeing its biggest surge in hotel development in more than a decade. About two dozen hotels are in various stages of development in Collier and Lee counties. Hotel developers overbuilt in Southwest Florida in the go-go years before the Great Recession. But worry about possible overbuilding is muted now.
› Materials, labor, impact fees could all drive up costs of new homes in St. Johns County
In a place where home prices have been steadily rising, the current outlook is that several factors are going to push costs higher for new homes in St. Johns County. A report this week released by Florida Realtors said builder confidence in the market for newly built, single-family homes declined slightly this month despite what is generally considered a solid market.
› Domain Homes: Buyers love them, some others don’t
Domain Homes is one of the largest urban infill builders in the Tampa Bay area. It has built more than 600 houses in older neighborhoods from Seminole Heights, Riverside Heights, North Hyde Park and West Tampa to Roser Park, Palmetto Park and Euclid-St. Paul in St. Petersburg.
Previous Real Estate Updates:
- As senior population rises in Florida, lots more new housing is on the way for them
- Sarasota-Manatee foreclosures kicking up
- Florida dominates in mortgage application defects
- Home sales up double digits in county hardest hit by Michael
- Total sales of Florida homes to foreigners down 50% since 2017
- South Florida housing turns marginally more affordable, university real estate index shows
- Florida remains a hotspot for commercial real estate development
- Build-to-rent housing market explodes as investors rush in
- Taxed to the hilt, more northern homebuyers are migrating to Florida