November 13, 2019

Florida Trend Real Estate

Florida leads nation in growth of first-time homebuyer rates

| 12/17/2018

Florida leads nation in growth of first-time homebuyer rates

First-time homebuyers made up the largest share of the U.S. home purchase market since 2005 during the first nine months of 2018, according to a recent report from Genworth Mortgage Insurance. Florida in particular has seen its first-time buyer market grow substantially faster than average since 2014. [Source: Miami Agent]

Tiny homes developer looks to fill huge void in state housing

If tiny homes are part of the solution to one of Florida’s biggest problems, Mike McCann wants to be involved. McCann is the CEO of Simple Life Communities, a development company headquartered in Jacksonville Beach. His company is building neighborhoods full of little houses in North Carolina and also has some projects just starting in Florida. [Source: St. Augustine Record]

Column: A road map to regional resiliency: solving climate change with capitalism

South Florida’s real estate community will play a pivotal role in our region’s efforts to become more resilient. Our industry has enjoyed decades of growth and prosperity despite currency fluctuations, natural disasters and economic volatility. We now face our most significant challenge yet: showing the world how we will ensure long-term viability by hardening our infrastructure and adapting to climate change. [Source: Miami Herald]

Related Group launches pre-construction sales for beachfront condo in Cancun

Related Group launched pre-construction sales of units at a beachfront condominium development in Mexico. Miami-based Related is developing SLS Marina Beach in Cancun in a partnership with hospitality company SBE and local developers U-Calli and Immoblia. [Source: The Real Deal]

He’s one of Miami’s brightest developers. A trio of lawsuits suggests a darker side

Edgardo Defortuna has been flying high for years, hiring star architects and erecting a string of ultra-luxury condo and hotel towers on his way to becoming one of Miami’s most prominent developers. He recently announced his first foray outside South Florida, unveiling a design for a trio of luxury towers in Paraguay. [Source: ]

STAT OF THE WEEK
$28.5 million
A private Lake Butler estate is being offered in the Central Florida market with a price tag that will more than double the current home sales record of $11 million, if the sellers get their price. [Source: WKMG]

ALSO TRENDING:

› Denver firm buys affordable housing property in West Palm Beach
Denver-based Grand Peaks Properties paid $21.4 million for a 252-unit affordable senior living facility in West Palm Beach. Grand Peaks was founded in 2003 and manages and invests in apartments throughout the country. It has $2 billion in current assets and owns 30 properties

› Real estate firm pulls out of $14.5 million deal with Port St. Lucie for former VGTI building
Financial considerations have prompted a distressed-real-estate firm to scrap a $14.5 million deal to buy the city-owned Vaccine & Gene Therapy Institute Florida building, the firm's manager said Friday. "We concluded after a great deal of market effort that there is not a market for that space in Port St. Lucie,” said Christopher Kallivokas, manager of RER Ventures of Coral Gables.

› Publix pays about $7.7 million for store under construction in Tampa's Channel District
Developer Ken Stoltenberg’s Mercury Advisors this week sold the downtown Publix now under construction at the corner of E Twiggs Street and N Meridian Avenue to the supermarket chain for nearly $7.7 million, according to a deed recorded on Thursday.

› Orlando Ritz Carlton, JW Marriott reportedly sold for nearly $900 million
The Grande Lakes Orlando Resort, one of the most luxurious hotel complexes in Central Florida, has been sold to an investment group for a reported amount of nearly $900 million just four years after a hedge fund bought it.

Tags: Real Estate eNews

Previous Real Estate Updates:

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single digital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Real Estate Video Pick

New FHA mortgage policy benefits first-time home buyers — and developers
New FHA mortgage policy benefits first-time home buyers — and developers

New Federal Housing Administration rules make it easier for first-time home buyers to purchase condos — and for developers to sell them. Since 2010, the FHA has limited condo mortgages to approved developments, with re-certification required every two years. Beginning Oct. 15, certification will be extended to three years.

Watch the video and read more at the Miami Herald.

Real Estate Videos | Viewpoints@FloridaTrend

Ballot Box

What threat level do you believe global warming is?

  • Global warming is man-made
  • Global warming is a natural threat
  • Global warming is a hoax
  • Other (Please share your comments in the comment section below)

See Results

Florida Trend Magazine
490 1st Ave S
St Petersburg, FL 33701
727.821.5800

© Copyright 2019 Trend Magazines Inc. All rights reserved.