December 11, 2019
Home price gains continue to weaken in Florida and nationally

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Florida Trend Real Estate

Home price gains continue to weaken in Florida and nationally

| 6/3/2019

Home price gains continue to weaken in Florida and nationally

Home prices nationwide rose in March at the slowest pace in more than six years, a sign that weaker sales are cooling off price increases. U.S. home prices gained 3.7% over the year, off from 3.9% in February for the 12th straight month of sluggish price growth, the widely watched S&P CoreLogic Case-Shiller Indices reported Tuesday. Statewide, homes sold for a median $256,900 in March, up 2.0% compared with 2018, while condos changed hands for 3.6% more, at $189,500. More from the Sarasota Herald-Tribune and CNBC.

No move to tighten building codes as hurricane season starts in Florida

After the last category 5 hurricane hit Florida, nearly 30 years ago, the state revamped its building code. This time, Leslie Chapman-Henderson, who heads the Federal Alliance for Safe Homes, says there's been little movement in that direction. "After Hurricane Michael," she says, "one would expect that the policy direction would be toward adopting stronger codes. We have not seen that to be the case." [Source: NPR]

Why lenders are loosening rules for “sandwich generation” homebuyers

More Americans are opting to live in multi-generational houses. Now, lenders are working to make it easier for such family units to take out a mortgage. The housing market for decades has been dominated by “nuclear families” made up of parents and their children. That is changing, however. [Source: The Real Deal]

Colorful South Florida developer unveils ‘final masterpiece’ to end 33-year career

Superstar real estate developer Frank McKinney is going out with a bang. If you’re familiar with the self-described “real estate artist,” you’d probably expect the unveiling of his latest oceanfront spec house to be quite the event. You wouldn’t have been disappointed. McKinney introduced his latest creation to the world last week in spectacular fashion. [Source: South Florida Sun-Sentinel]

Hialeah is hot. Key Biscayne is not. Here’s where Miami property values stand in 2019

The glitzy skyscrapers and downtown skylines get all the postcards and travel brochures. But it’s the middle-class residential neighborhoods that are currently driving up Miami-Dade real estate, according to the 2019 preliminary report of taxable values released Friday by the Miami-Dade County Property Appraiser. [Source: ]

STAT OF THE WEEK
$77,000
Closing on a new home can be an exciting and busy time with lots of money on the line. It's also a time when you could be vulnerable to hackers trying to steal your life savings. One email scam recently cost a family on the Treasure Coast more than $77,000. [Source: WEAR]

ALSO TRENDING:

› A mega construction boom for a little area of St. Petersburg
Construction is booming throughout the Tampa Bay area but perhaps nowhere is it more concentrated than along 16th and 17th streets between Central and First avenues N near downtown St. Petersburg. Four big projects are underway in the area that abuts the city's thriving Edge and Grand Central Districts.

› Jaxi Builders puts One, Allure sites in Fort Myers on the market
A Miami developer has abandoned plans for a pair of ambitious high-rise condominium projects just outside downtown Fort Myers and is offering two sites for sale for a combined $16.2 million. Brokers say Jaxi Builders’ decision to shed its waterfront land has more to do with product type than market conditions, though.

› Construction adding thousands of jobs in Sarasota-Manatee
Southwest Florida’s labor-tight construction sector added 2,200 jobs in April, a 7.5% annual growth rate that outpaced state and U.S. gains. The Sarasota-Manatee and Charlotte County metro areas were among 250 out of 358 nationwide where construction payrolls rose over the year, according to a new report from the Associated General Contractors of America.

› Fast-growing Miami insurer focuses sales efforts on neighborhoods often bypassed by large insurance companies
Ivan Herrera, the CEO and co-founder of UniVista Insurance, an independent, Miami-based agency that specializes in coverage for Hispanic communities, started the company here with his wife, Ania, in 2009. It had zero revenues and two employees — the founders. By focusing sales efforts on Hispanic neighborhoods often bypassed by large insurance companies, Herrera and his wife were able to build UniVista into a firm with more than 1,100 employees.

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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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