August 21, 2019
Living (too) large: Aging baby boomers struggle to sell sprawling Sunbelt homes

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Florida Trend Real Estate

Living (too) large: Aging baby boomers struggle to sell sprawling Sunbelt homes

| 3/25/2019

Living (too) large: Aging baby boomers struggle to sell sprawling Sunbelt homes

Older owners of large homes throughout the Sunbelt are struggling to sell them. Many baby boomers spent heavily to retire in jumbo-size houses in such Sunbelt states as Arizona, Florida and South Carolina. But as these sprawling houses cease to meet the needs of their aging owners, finding buyers has become problematic. More from The Real Deal and the Wall Street Journal.

Column: In South Florida, private lenders filling the gaps

In 2019, several key sectors will be driving robust growth in the South Florida commercial real estate market: industrial, multi-family and technology/e-commerce. As companies in these and other spaces flock to Florida—taking advantage of such benefits as a pro-business tax structure, easy access to international transportation, and an all-around business-friendly environment— their presence will help to spur local economic activity. But they may also find some challenges when it comes to securing financing. [Source: Commercial Property Executive]

Florida and Las Vegas are the best markets for first-time homebuyers

First-time buyers looking for an affordable home without steep competition will have the best luck in Tampa, Florida, according to Zillow®'s 2019 Best Markets for First-Time Buyers Analysis. This is the second year in a row that Tampa tops this list. [Source: Florida Trend]

'We will miss the warm winters.' Retirees are fleeing Florida as climate change threatens their financial future

Florida, with its plentiful beaches, warm weather, and lack of a state-income tax, is the most popular destination for older adults in the U.S. But some who have lived in the Sunshine State for years are moving in the opposite direction. As damaging storms and other effects of climate change have hit Florida particularly hard in the past few years, some older adults living there have become concerned about their safety and their ability to enjoy retirement. [Source: Money]

A wealth of history, a history of wealth

The warm weather and white sand beaches are what draw people to Naples, in southwest Florida. Naples is packed with culture and neighborhoods boasting some of the priciest real estate in Florida. The city on the Gulf of Mexico, about a 45-minute drive from Fort Myers, is home to roughly 22,000 people (51.5% are over the age of 65), according to census data. [Source: ]

STAT OF THE WEEK
$25 million
A luxury estate that featured on “Miami Vice” now has another claim to fame — at $25 million, it’s the most expensive listed home on Key Biscayne, at least for now. [Source: South Florida Sun-Sentinel]

ALSO TRENDING:

› Here's why H. Wayne Huizenga's mansion and others may benefit from selling through auction
They can be described as dream homes, these two waterfront mansions in Fort Lauderdale that take luxury to new heights. One is a sprawling $27 million estate owned by the late billionaire H. Wayne Huizenga, whose auction begins Tuesday. The other is the $36.25 million Bella Fortuna estate, patterned after a Venetian palace.

› Florida investor snaps up two Plano office buildings
A Florida-based investor has purchased a two-building Plano, Texas office campus. TerraCap Management LLC, a privately held investment firm in Estero, Fla., bought the Preston Park Financial Center on Preston Road. Built in the 1980s, the office complex includes two nine-story buildings with almost 370,000 square feet of space.

› Judge upholds Miami referendum on land lease negotiations for soccer stadium project
A judge upheld the result of a Miami referendum authorizing the city to negotiate a lease for a stadium where David Beckham’s Major League Soccer team would play. The ruling by Miami-Dade Circuit Judge Mavel Ruiz preserved the outcome of the referendum in November, when 60 percent of Miami voters authorized the negotiation of a 99-year lease for the development of a stadium and commercial complex.

› A piece of Jacksonville history is for sale for $799,000
Despite the historic reputation of St. Augustine, Jacksonville, Florida actually has more historic houses than any other community in that state. And now, one of the most historic homes in the northeastern Florida city is coming on the market.

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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.

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