November 15, 2019
After tax law, Florida sees movers but not from New York

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Florida Trend Real Estate

After tax law, Florida sees movers but not from New York

| 11/4/2019

After tax law, Florida sees movers but not from New York

In the first few months after the new federal tax law went into effect, Florida saw jumps in new residents moving from Connecticut and Massachusetts. There were smaller year-over-year increases in new Florida residents from New Jersey and Pennsylvania, but no jump from New York — traditionally the biggest source of new Floridians. More from the Bradenton Herald and the AP.

As Brightline sparks building frenzy, affordable housing on the way

Move over, developers. A nonprofit affordable housing group is looking for a piece of the Brightline real estate action. The high-speed rail service is attracting a growing stream of out-of-town tourists, business travelers and local leisure visitors. And competition has intensified among South Florida developers who are snapping up properties near existing train stations and the sites of potential new ones, real estate experts say. [Source: South Florida Sun-Sentinel]

Is investing in Florida a good decision?

Florida is a dreamland for investors. It has seen steady growth in economic development as the price of a property is gradually rising year after year. But does this mean that investors should go all in and trust the local market to be as beneficial in the future as it is right now? [Source: AZ Big Media]

‘Slice of heaven’ in Florida up for auction

Looking for a vacation home for your extended family? Consider a coastal estate overlooking Western Lake in Watercolor, Florida, which can accommodate 20 guests. The seven-bedroom retreat at 93 Vermilion Way will sell at auction at noon on Nov. 19 by Luxury Estates Auction Company. [Source: Dallas Morning News]

Development boom hits unincorporated area in Panama City Beach

As the first piece falls into place for one of the largest undeveloped commercial properties in Panama City Beach, a bigger plan for the area seems to also be coming into sharp focus. It represents a massive shot in the arm to the area’s economy after the devastating effects of Hurricane Michael on Oct. 10, 2018. [Source: ]

STAT OF THE WEEK
72,903
Spaghetti western movie star Francisco Martínez-Celeiro sold his 72,903-square-foot Overtown warehouse in an Opportunity Zone for $9.5 million. [Source: The Real Deal]

ALSO TRENDING:

› ‘Queen of Versailles’ Jackie Siegel: ‘We’re sorry we ever started’ house
At a Las Vegas gala last week for the Victoria Siegel Foundation, Jackie and David Siegel opened up about their lavish home under construction in Windermere. The charity event was to fight the opioid epidemic; 18-year-old Victoria Siegel died of an overdose in 2015. “After she overdosed we didn’t even care about the house anymore,” Jackie Siegel said. “We’re sorry we ever started. But we’re $50 million into it, so it really needs to get done.”

› A national real estate firm acquires Fort Lauderdale agency with 1,000 brokers
Last week, Dallas-based United Real Estate acquired Fort Lauderdale-based Charles Rutenberg Realty, scooping up 1,000 agents through the deal. The purchase is part of United Real Estate’s strategy to expand from its current total of 8,000 agents worldwide — 2,000 in company-owned brokerages and 6,000 in franchises — to 20,000 by late 2020.

› FSU Real Estate TRENDS Conference marks 25 years with industry luminaries
Real estate industry experts from across the country gathered at Florida State University for the FSU Real Estate Center’s 25th Real Estate TRENDS Conference held Oct. 24-25 in Tallahassee. This year’s event featured speakers including top real estate investment executives David Rubenstein of the Carlyle Group in Washington, D.C., and Dan Quayle, former vice president of the United States who is now with Cerberus Global Investments in New York.

› With move to Mar-a-Lago, Trump could use Florida real estate law to protect himself from creditors
In late September, President Trump and his wife Melania became the latest New Yorkers to relocate to Florida. The state has long been a refuge for business moguls, celebrities and athletes who are keen to protect their assets from looming threats.

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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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