September 15, 2019
As senior population rises in Florida, lots more new housing is on the way for them

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Florida Trend Real Estate

As senior population rises in Florida, lots more new housing is on the way for them

| 8/19/2019

As senior population rises in Florida, lots more new housing is on the way for them

Florida is a national leader in drawing senior citizens from other states as permanent residents. According to a recent survey by MagnifyMoney, a site owned by Lending Tree, baby boomers and older people who have surpassed retirement age are fueling a rapid growth in the upper age groups of warm weather states such as Florida and Arizona. And they are bringing lots of financial power with them. But that doesn’t mean that with all of that financial strength, there is a enough suitable housing to go around for longtime incumbent residents who have graduated into the twilight years, as well as the newcomers from out of state. [Source: South Florida Sun-Sentinel]

Grocery stores have the goods (for real estate)

While it is no surprise that homeowners want to maximize the value of their property, it might come as an eye-opener that proximity to certain grocery stores can substantially improve the value of real estate. The findings are compelling because homebuyers, whether they are solely looking to invest in real estate or simply seeking to raise a family, may count on their purchase paying off by just living near certain grocery store chains as those chains seem to provide a quality return on investment and secure higher home equity. More from Laywers.com and South Florida Law Blog.

Are market predictions for 2019 ringing true in Southwest Florida?

How time flies. It has been six months since three experts revealed the latest real estate trends in Southwest Florida at the 2019 Market Watch. What do they say now? The Naples Daily News checked in to see if their predictions for the residential and commercial markets are ringing true. First up? Denny Grimes, a longtime residential real estate broker in the region, who made several predictions at the area's top real estate event in February. One of his prophecies? Real estate sales agents were going to have to roll up their sleeves and work harder in 2019 than they did in 2018 [Source: Naples Daily News]

Kushner to soon break ground on its first development in Florida — a 400-foot, $550M tower

Kushner Companies LLC, the real estate company partly owned by presidential son-in-law Jared Kushner, has taken ownership of a previously announced rental project in Miami’s Edgewater. The real estate developer plans to break ground in October on its first ground-up development deal in Florida. Kushner Companies is the third owner to the three-quarter acre development site at 2000 Biscayne Boulevard, adjacent to Braman auto showrooms on the west side of the thoroughfare. [Source: Miami Herald]

Where are the vacant homes? Study points to New York and Florida

New York and Florida are the states with the highest number of vacant homes, according to a new Attom Data Solutions study released today. Across the country, just over 1.53 million single-family homes and condos currently sit vacant in the third quarter of 2019. This represents 1.6 percent of all homes. Overall, fewer homes are being left vacant or otherwise abandoned than in prior years. [Source: ]

STAT OF THE WEEK
1.2%
Palm Beach County single-family home sales rose 1.2% year-over-year in 2Q 2019, increasing from 5,216 to 5,276. Condo transactions declined 4.1%, from 4,173 to 4,003. [Source: World Property Journal]

ALSO TRENDING:

› Realtors group partners with Goodwill Manasota on annual Fashion Show
On Wednesday, September 4 at 11 a.m., Women’s Council of REALTORS® (WCR) Sarasota will present its 26th annual Fashion Show, “Stars, Stripes & Style.” The event takes place at The Hyatt Regency Sarasota (1000 Boulevard of the Arts). In addition to event proceeds supporting the WCR Scholarship Fund, WCR has selected Goodwill Manasota as its charity of choice for this year’s event – these funds are raised through the raffle of a “Lottery Giving Tree” during the program.

› Zombie foreclosures take smaller bite out of Sarasota-Manatee housing market
The zombies are still out there, but the plague has eased in the Southwest Florida housing market. Zombie foreclosures — homes abandoned by their owners but not yet seized by lenders — accounted for 4.9% of all distressed properties in the Sarasota-Manatee region, real estate researcher ATTOM Data Solutions reported last week. The two-county area has 74 of the undead properties, three fewer than last year and down from 111 in 2016.

› Real estate mogul Ben Mallah buys Marina at John’s Pass for $17.2 million
Buffeted by storms and recession, the Marina at John's Pass is getting a new lease on life. Entrepreneur Ben Mallah paid $17.2 million Friday for the waterfront complex, a popular but run-down tourist attraction with shops, water sports and restaurants, including Hooters, Bubba Gump Shrimp Co. and the Friendly Fisherman.

› Domio inks first South Florida deal for short-term rentals
Short-term rental operator Domio is expanding to South Florida, The Real Deal has learned. The New York-based startup paid about $1.45 million to lease 45 units at the beachfront Monte Carlo at 6551 Collins Avenue in Miami Beach, co-founder and CEO Jay Roberts said.

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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.

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