May 25, 2020
Florida real estate agents waiting for federal unemployment

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Florida Trend Real Estate

Florida real estate agents waiting for federal unemployment

| 4/27/2020

Florida real estate agents waiting for federal unemployment

Florida real estate agents seeking unemployment benefits are stuck waiting as the state plans to roll out a new system to process claims from independent contractors and gig economy workers. More than one-fourth of the 170,000 total claims processed by the state have been rejected so far, according to the Associated Press. That could mean that those who were rejected are self-employed and are only eligible for federal benefits. [Source: The Real Deal]

Real estate will never be the same post Covid-19. Three top developers explain the new normal

In less than eight weeks, Covid-19 has re-ordered virtually every industry in the world. But few more rapidly than real estate and development. Now that hundreds of millions of people have gotten a new taste of how important “home” actually is, the spaces we live in, and more importantly what we demand of them, stand to look profoundly different in the post-coronavirus world. [Source: Forbes]

Re-Open Florida: Construction staying afloat, real estate and transportation on edge

The third meeting of the Re-Open Florida Task Force group on the hardest-struck businesses was less a brainstorm of best practices than a review of the status of each industry. Unlike other industries, construction, real estate and transportation never really stopped. Of the three industries, construction and real estate, two of the hardest-hit sectors during the Great Recession, are performing the best. Yet the real estate industry won’t feel the greatest effects of the induced recession until May when rent checks start coming in — or, rather, don’t. [Source: Florida Politics]

Pandemic to stress need for already-limited affordable housing in South Florida

Measures to contain the spread of coronavirus are still shifting by the day — and so are responses by investors, developers, builders, banks and buyers. To track the impact in real-time, RE|source Miami is asking area real estate professionals in various sectors for on-the-ground reports. Hear from Stephanie Berman-Eisenberg, chief executive officer and president of Carrfour Supportive Housing. The Greater Miami Chamber of Commerce established the nonprofit in 1993 to develop and operate affordable and supportive housing in South Florida. [Source: Miami Herald]

Homeowners have options for mortgage during the pandemic, but might not get the full story

Most out-of-work homeowners frightened by the thought of suspending their mortgage payments can rest easy. Regardless of what their mortgage servicer tells them, the 70% of borrowers with federally backed loans won’t be on the hook to repay those missed payments all at once at the end. But that's not what many are being told when they reach out to hit the pause button on their monthly payments. [Source: ]

STAT OF THE WEEK
$2.2 million
The city of Miami could offer rent and utility assistance to residents who lost their jobs, starting as early as May, possibly becoming one of the first cities in the U.S. to do so. Using federal money, the city would provide up to $2.2 million, paying landlords and utility companies directly. [Source: The Real Deal]

ALSO TRENDING:

› Free pools, gift cards: Tampa Bay real estate market sees surge of perks as hesitancy grows
Across the Tampa Bay area, there are examples of these incentives springing up, for both people looking to buy new houses or sign an apartment lease. In an area that has typically seen both the prices of single-family homes and rent steadily go up the past few years, it’s a sign that some in the local real estate market are having to work harder than usual to attract interested customers as the coronavirus pandemic continues to keep the economy on hold.

› Keeping up with the Joneses’ real estate business
Jontrell Jones is eager to expand his real estate business. Jones, 25, is a young entrepreneur, businessman and app developer located in Tallahassee. Jones is a Florida State University graduate who hopes to build his own real estate office. Jones has been passionate about pursuing the field for almost seven years.

› Local banks are stepping up. Why this crisis will spare South Florida lenders
During the last downturn, it was the banks that failed. This time, it is the banks that are being asked to prevent everyone else from failing. As coronavirus morphs from a health crisis to an economic one, local lenders are taking steps to prevent a likely recession from turning into a full-blown depression.

› Affordable housing management company donates to Orlando food bank
Low-income housing company Concord Management on Tuesday promised to make a $100,000 donation to an Orlando-area food bank. The company also promised to commit an additional $10,000 per month to Second Harvest Food Bank of Central Florida and to maintain that donation “until further needed, to ensure that a steady food supply is readily available to families in need."

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