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December 15, 2018

Florida Trend Real Estate

Florida timeshare industry changing amid rising default rates

| 11/26/2018

Florida Trend Exclusive
Florida timeshare industry changing amid rising default rates

Florida timeshare companies and exit companies are blaming each other for rising default rates. The timeshare industry is now taking steps to combat the problem, suing some of the biggest actors and lobbying lawmakers and regulators for policy changes. Read the full story from Florida Trend here.

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850-acre wild Florida playground on the market

This $3.5 million property for sale does not hold a ginormous mansion, a pool the size of a lake or a five-car garage. No horse barns, no tennis courts, no golf course. But you could build all those things and more. “This is the largest contiguous native/natural Florida property that is privately owned on the Peace River,” says Mac Martin, the broker/owner of Port Charlotte-based United Country Gulfland Real Estate. [Source: Sarasota Herald-Tribune]

Caribbean real estate dream turns into $100 million nightmare for retirees

When Frank Balluff and his wife, Rebecca, purchased a lot in what seemed to be an exciting new Caribbean resort development, little could they imagine what they were getting into. In fact, it was what the Federal Trade Commission now calls the biggest real estate scam involving overseas property it has ever investigated. [Source: The Real Deal]

Florida Southern’s residential real estate holdings raise tensions

Florida Southern for decades has owned many properties — most of them houses — outside its campus boundaries. And for just as long, the college has contended with some suspicion and resentment from people living in adjacent neighborhoods. [Source: Lakeland Ledger]

UAE group Sternon to start work on $150 million Florida project

Dubai-based developer Sternon Group said its international real estate unit is set to break ground on its $150 million Fortune Star, a massive development that will deliver 550 luxury apartments at an area near Disney World in Orlando, Florida. [Source: ]

STAT OF THE WEEK
$298,000
Median prices for single-family homes in Manatee County increased by 4.2 percent to $298,000 in October. [Source: Bradenton Herald]

ALSO TRENDING:

› Eden Multifamily plans to replace shopping center in Tamarac with apartments
A Coconut Grove-based developer proposed replacing a shopping center in Tamarac with 212 apartments. Eden Multifamily LLC, led by its president Jay Jacobson, wants to build the apartments on the site of the shopping center at the northeast corner of West McNab Road and North Pine Island Road.

› St. Johns County is Northeast Florida’s hottest retail market
Unless there’s some kind of catastrophic economic downturn, St. Johns County is going to have more new venues for holiday shopping in 2019 than any other market in Northeast Florida. That’s the conclusion from Colliers International Northeast Florida, a real estate services and investment management company that recently released its semiannual report for retail development.

› Developer proposes building massive warehouse development near Florida Polytechnic University in Polk
A developer has proposed building a logistics park with 1.4 million square feet of warehouse space southeast of Florida Polytechnic University. The proposal includes three buildings on about 105 acres in unincorporated Polk County between Lakeland and Auburndale.

› Lake County home sales are soaring, prices climbing
Homes sales are booming across Lake County, reflecting a nationwide trend that sees sellers able to move homes fast and for strong prices. More than 5,700 homes have changed hands in Lake County already this year, according to data from the Orlando Regional Realtors Association.

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