December 11, 2019
Mostly sunny outlook for Florida real estate

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Florida Trend Real Estate

Mostly sunny outlook for Florida real estate

| 4/1/2019

Mostly sunny outlook for Florida real estate

Like Florida, the state’s real estate market and economy remain sunny with perhaps a few clouds on the horizon. “We’re certainly in a rising tide,” said Dean Saunders, president of Coldwell Banker Commercial Saunders Real Estate, told about 200 participants Friday at the annual Lay of the Land real estate conference at the Omni Orlando Resort at Championsgate. “Maybe it’s not rising as fast as it once was, but it’s still a good clip.” [Source: Lakeland Ledger]

Why listing a home in the first week of April may up your price

Anyone who lists a home for sale within the next week is no April fool. Data from the National Realtors Association’s Realtor.com claims sellers get the highest price — and close in the least number of days — when their listings went live in the first week of April. [Source: The Real Deal]

Commercial real estate investor finds niche in Southwest Florida retail centers

Don't tell Lita Sciturro-Smith retail real estate is dying. The investor, whose family has been in commercial real estate since the 1970s, has been patiently, and prudently, buying a series of income-producing retail-focused properties in the Sarasota-Manatee-Charlotte region for close to a decade. Her attitude toward the bogeyman of brick-and-mortar — e-commerce — is to build up a portfolio of tenants in service industries, including restaurants, gyms, hair salons and nail salons. [Source: Business Observer]

‘Underwater’ homeowners group promotes climate change action

The “Underwater Homeowners Association” sounds like a sad joke about the future of real estate in flood-prone Miami. It’s actually an earnest, block-by-block effort to turn neighbors into climate-change advocates. Starting in his affluent suburb of Pinecrest, artist Xavier Cortada hopes his concept will spread, helping people nationwide understand that melting polar ice is no abstract threat. [Source: AP]

Orlando home prices soaring in unexpected neighborhoods: Pine Hills, Orlo Vista, Parramore

Home values are soaring in traditionally low-income neighborhoods such as Pine Hills, Parramore and Richmond Heights. The ZIP codes where those neighborhoods are located have led the region in home price appreciation for the past five years, according to sales numbers from the Orlando Regional Realtor Association. [Source: ]

STAT OF THE WEEK
$1.345 million
By most accounts, Tampa Bay's foreclosure ended in 2015. Yet reminders of those crisis years between 2009 and 2015 can be found in listings for "bank-owned'' houses. Nearly 300 are currently for sale in the four-county bay area, most for under $300,000. The notable exception: a waterfront house in St. Petersburg priced at $1.345 million [Source: Tampa Bay Times]

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› Florida is the best state for investors to own vacation rentals
If you want to make bank renting out vacation homes, Florida is the place to be. A new report by Rented.com ranked 150 cities in terms of the returns investors could make with vacation rentals and the Sunshine State nabbed the first 19 spots, according to Forbes.

› What's up with the sizes and prices of condos in ONE St. Petersburg?
The 'sold' prices and square footage of condos in ONE ST. Petersburg, Tampa Bay's newest and tallest condo tower, differ from figures shown in property appraiser records.

› Why won't anyone buy Scottie Pippen's Florida mansion?
Basketball Hall of Famer Scottie Pippen has been trying to sell his waterfront estate for nearly a decade. The six-time NBA champion initially listed his incredible tropical paradise in 2010 for $16 million, although it was privately offered as far back as January 2009. Since then, it’s been bouncing on and off ... and on the market.

› Key limes responsible for real estate prices in Key West
We all know the “Key” in “Key lime pie” comes from the Florida Keys, but why is a lime native to Southeast Asia named after an island chain in Florida? And how is the price of a house in the Florida Keys tied to a singular citrus? Let’s dive into The Key Lime Pie Hole and find out.

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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.

Watch the video and read more at the Miami Herald.

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