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Florida Trend Real Estate
Real estate groups call for appraisals to be deemed essential
Real estate groups call for appraisals to be deemed essential
A coalition of five real estate and professional appraisals organizations are appealing to local and state governments to declare property appraisals as essential business. Executive orders compelling non-essential businesses to stop reporting to work have been put in place in many states, cities and counties throughout the country amid the pandemic. But only seven states so far have declared appraisals for real estate-related services as exempt from those restrictions, the group asserts. More at The Real Deal and Florida Trend.
See also:
» NAIOP calls for government relief for commercial real estate industry
Southwest Florida Realtors remain optimistic in spite of coronavirus-fueled decline in business
Just like other industries that are suffering under the weight of the pandemic, the residential real estate market is starting to see the impact. Southwest Florida experts are reporting substantial decreases in showings, listings and sales, and the situation is still too fresh to determine the long-term effects. [Source: Fort Myers News-Press]
Florida orders two-week delay in property tax payment deadline
The state on Thursday ordered a two-week delay in Florida property tax payments that were due March 31. The due date is now April 15, said state Rep. Chip LaMarca, R-Lighthouse Point, who had urged Gov. Ron DeSantis to grant an extension. Under Florida law, property taxes that aren’t paid by March 31 are considered delinquent on April 1. More from the South Florida Sun-Sentinel, the Miami Herald, and the Pensacola News-Journal.
Publix offers free rent to tenants in shopping centers it owns
Lakeland-based Publix owned, rather than leased, 425 of its stores as of the end of 2019, according to the company’s latest annual report. Publix now owns the dirt under 34 percent of its stores. Now, Publix, Florida’s dominant grocer, says it’s offering rent relief to tenants that operate in its shopping centers and have been closed by the coronavirus pandemic. [Source: Palm Beach Post]
Palm Beach agents offer virtual open houses, digital tours
Amid all the worries surrounding the coronavirus pandemic, the big business of real estate in Palm Beach churns on, even as new marketing strategies are being put into place every day to adapt to an ever-changing world. Take open houses, a longtime staple of the real estate scene on the island, where agents announce they’ll be on hand at properties for a specified time. Real estate agents, brokers and house-hunters are toured through the property — and often get a coffee, a pastry or even lunch as a bonus. [Source: ]
8,459
Sarasota and Manatee counties have been an epiccenter for multifamily rental development since 2015 In the two counties, 8,459 new apartment units were delivered between the years of 2015 and 2019. [Source: Business Observer]
› South Florida lenders and landlords battle new coronavirus reality
As businesses shutter across South Florida and unemployment skyrockets to record highs, landlords are facing a difficult dilemma: How to offer rent deferrals to tenants and at the same time pay their mortgages? Landlord Shane Neman said he has offered deferrals to commercial tenants, but claims two of his lenders have yet to give him final guidance on whether he can modify his loans and delay his mortgage payments.
› Real estate firm adapts to coronavirus conditions as demand continues
The effects of the pandemic on Sarasota-based real estate firm Michael Saunders & Co. haven’t been as clear-cut as they have been for some industries like travel and hospitality. Founder and CEO Michael Saunders says the firm has closings in progress and contracts being written. Some processes, such as mortgage applications and closings, are just taking longer, she says.
› Miami commercial developers: video chats, planning and stress relief rule the day
In the face of coronavirus, many companies are seeing their first real test of working virtually. That includes South Florida commercial developers. Like much of their staffs, CEOs are often working remotely, relying on the conference calls and video chats that have largely replaced in-person meetings.
› Another retail center coming to Daytona’s red hot LPGA corridor
A Maitland developer plans to build a mixed-use center next to Cornerstone Office Park that will include restaurants and possibly retail shops. Initial plans for Equinox Development’s Cornerstone Exchange project also included a movie theater, but that may no longer be the case.
Previous Real Estate Updates:
- Florida home values have more than doubled in the past decade
- Florida insurance market full of ‘low quality' companies, study finds
- Real estate pros say Florida's future looks bright
- What are squatters' rights? New Florida law targets occupancy fight
- Is trouble brewing in Florida's housing market? Here's what the data says
- Florida is growing. Can affordable housing keep up?
- Florida condo sales plummet despite falling prices and rise in 'motivated' sellers
- Want to get rich quick selling Florida real estate? Think again.
- New law would give new homebuyers better idea what their property taxes will be
