July 11, 2020
'The way of the future': Realtors embrace new, virtual methods to market homes during coronavirus pandemic

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Florida Trend Real Estate

'The way of the future': Realtors embrace new, virtual methods to market homes during coronavirus pandemic

| 6/1/2020

'The way of the future': Realtors embrace new, virtual methods to market homes during coronavirus pandemic

For Florida Realtors, impacts of the coronavirus pandemic have revealed a silver lining. As a result of the pandemic, normal real estate business has seen dips in recent months, and face-to-face interactions that are usually a critical part of the buying and selling process have become challenging. But agents are turning to virtual methods of marketing their homes and doing business, which some professionals say is a blessing in disguise. [Source: Fort Myers News-Press]

Indecision on extending eviction ban leaves renters, real estate in limbo

Just three days before rent and mortgage payments are due for many Floridians, Gov. Ron DeSantis said Friday he has not decided whether to extend the moratorium on evictions and foreclosures that expires Monday. For many Floridians, the first-of-the-month rent and mortgage payments mark the second or third month they have been unable to pay their housing costs. Asked at a press conference early Friday afternoon west of Boca Raton when he would decide whether to extend the moratorium, DeSantis replied “pretty soon.” [Source: Tallahassee Democrat]

Opinion: A tidal wave of higher property insurance rates is about to hit Florida

Like the worrying economic and unemployment data emerging as Florida and the world fight the coronavirus pandemic, the emerging picture for homelessness, bankruptcies, and insurance rate increases are raising fears of a property insurance crisis impacting Florida’s real estate market. [Source: Tampa Bay Times]

Florida has second highest number of zombie foreclosures in the nation

So-called zombie foreclosures made up about 7,650 (3%) of the homes in foreclosure in the second quarter, where the owner has abandoned the property and the foreclosure is put on hold indefinitely. Florida had the second highest number of zombie foreclosures in the second quarter with 1,136, following New York, which reported 2,158. [Source: Miami Agent Magazine]

South Florida retailers might be catching a break, thanks to lower rents

Retailers are finally getting a little breathing room. South Florida commercial landlords have dropped asking rents — at least slightly — and are poised to go lower. So says Colliers International retail market first quarter 2020 report. Between the fourth quarter of 2019 and the first quarter of 2020, asking rents dipped ever so slightly in Miami-Dade — by 0.2% — and slightly more in Broward, by 2.7%. Vacancy rates were flat in Miami-Dade and up by a mere 0.1% in Broward. [Source: ]

STAT OF THE WEEK
$31.62 million
Luxury buyers continue to drop millions on condo living in Miami. The luxury residential 64-story tower Brickell Flatiron at 1000 Brickell Plaza closed on four of its five penthouse units in the last 90 days totaling $31.62 million, said Vanessa Grout, president of CMC Real Estate. [Source: Miami Herald]

ALSO TRENDING:

› Polk real-estate agents face their own coronavirus-related challenges
With so much turmoil in the financial markets, buying a home might not seem like an ideal goal in the present market. The coronavirus pandemic has prompted many Americans to rethink where they live. And Polk real-estate agents say if you’re thinking about selling your home, now might be the time.

› Short-term damage expected for Sarasota-Manatee real estate market
Spring is traditionally the peak buying-and-selling season for homes in the Sarasota-Manatee region, but this is expected to be one of the weakest in years. But many believe the the local residential real estate market will quickly rebound, as the economy re-ignites after the coronavirus-induced shutdown and buyers who retreated to the sidelines jump back in the game.

› Volusia-Flagler Realtors: ‘We consider ourselves on the front line’
Realtor Rachel McGrath no longer shakes hands with clients since the coronavirus pandemic began. Instead, she bows. “No more handshaking. No fist or elbow bumping either. There’s no touching at all. It’s not necessary,” said the longtime real estate agent with Sotheby’s International Realty in the Spruce Creek Fly-In community. While Realtors in Volusia and Flagler counties have adopted social distancing measures to protect both themselves and their clients from the coronavirus, they say demand for homes here remains strong, especially from prospective buyers looking to move to Florida from the Northeast.

› Palm Beach real estate agents expect busy summer by all indications
Anticipating a busy summer amid continued concerns about the coronavirus, Palm Beach real estate brokers and agents and brokers are reporting keen interest from would-be buyers, especially those who live in densely populated areas of the Northeast such as New York City.

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