November 13, 2019
Florida bucks national trend, home sales jump 11% in September

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Florida Trend Real Estate

Florida bucks national trend, home sales jump 11% in September

| 10/28/2019

Florida bucks national trend, home sales jump 11% in September

According to the latest housing data by Florida Realtors for September 2019, Florida's housing market reported more closed sales, higher median prices and increased pending inventory compared to a year ago. Sales of single-family homes statewide totaled 23,510 last month, up 11.5% from September 2018. [Source: World Property Journal]

See also:
» September a strong month for Tampa Bay home sales, prices
» Miami Enjoys Both Condo, Home Sales Spikes in September
» Palm Beach County Real Estate Total Home Sales Rise in September

Why shipping container homes are trending in Florida

Shipping container homes are gaining popularity in Florida. Whether you want to live in a popular city like Miami or a suburb of Orlando, you can purchase the home of your dreams for a very high price. Many homebuyers get stuck in the “money pit” of a dream home. As an alternative, you can purchase a house made out of shipping containers that still offers tremendous value, space and looks. [Source: South Florida Reporter]

As Florida grows, low-impact development could offer protection for waterways

Low-impact development (LID) is a design approach for real estate developers to manage future stormwater runoff needs. When used effectively, rain gardens, permeable pavement, rain harvesting and other LID methods can often improve nutrient removal, use a smaller footprint and provide additional benefits when compared to a traditional stormwater pond system. [Source: Flagler Live]

Rising financial wealth boosts demand for vacation homes

Increased financial wealth and low mortgage rates boosted the demand for and price of vacation homes, according to the National Association of Realtors 2019 U.S. Vacation Home Counties Report. Between 2013 to 2018, the median sales price in vacation home counties increased at a slightly higher pace of 36 percent compared to the pace of increase of all existing and new homes sold at 31 percent. [Source: National Association of Realtors]

Flooded house? Florida sellers don’t have to tell.

As of last month, Texas home sellers have to disclose a lot more information about flood risk and flood history. Now they must tell potential buyers if the home has ever flooded or if it’s in a flood pool, in or near a reservoir or if it’s within a 500-year floodplain. Meanwhile, in Florida, the state most at risk from sea rise driven flooding, no such law exists.  [Source: Miami Herald]

STAT OF THE WEEK
4,290
A 4,290-square-foot estate fronting Biscayne Bay boasts a unique feature: It was designed by the same man who helped to create many of Gianni Versace’s boutiques and homes around the world. The asking price for its European elegance: $19.9 million. [Source: South Florida Sun-Sentinel]

ALSO TRENDING:

› Real estate firm pivots from management to ownership
Is it better to manage a commercial property or to own it? For the Tampa-based Florida division of Ciminelli Real Estate Services, a firm headquartered in Buffalo, N.Y., the answer is simple: Why not both?

› Here are the 20 Tampa Bay ZIP code areas where prices have shot up the most
Anyone looking to buy a house near downtown Tampa or downtown St. Petersburg knows all too well that sale prices have soared in recent years. Some of the biggest increases recently, however, have been in places far removed, a Tampa Bay Times analysis shows.

› Co-living venture Urbin expanding to Miami Beach
Developer Rishi Kapoor is betting on co-living, starting with three projects in Miami-Dade. Kapoor, CEO of Location Ventures, is moving forward with a $50 million co-living project at 1234 to 1260 Washington Avenue, now that the Miami Beach City Commission passed co-living legislation for a portion of Washington Avenue from Sixth to 16th streets.

› Residential real estate team adds new director of operations
A rapidly growing residential real estate team added a new director to its staff. Southwest Florida R.E. Group, based in Bonita Springs, named Alyssa Sweat as director of operations, according to a news release. The principals created the new senior position to help the organization and management of the team which has grown to nearly 50 agents over the last two years, the release says.

Tags: Real Estate eNews

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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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