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Florida Trend Real Estate
Now is the time to buy, sell houses in Central Florida, report says
Now is the time to buy, sell houses in Central Florida, report says
Right now, there are fewer homes for sale in Central Florida but low-interest rates are creating a high demand. "I was very surprised. I thought when the pandemic started, I wasn't going to have any business, any clients,” realtor Beverly Dodds said. The pandemic has slowed many things down this year, bringing some things to an outright halt, but the housing market isn't one of them. [Source: WESH]
This was the year for Central Florida to make headway on affordable housing. Then the virus hit.
Already, housing advocates are bracing for 2021's legislative session and the real possibility the Sadowski Fund will be raided again to make up for the budget deficits brought on by the pandemic. At stake is $600 million sitting in the fund, bolstered by home sales that were surprisingly unaffected by the pandemic. And while the region struggles to address the housing shortage, another crisis looms: more than 3,400 evictions filed in Orange County since April and as many as 105,000 residents still out of work in metro Orlando. [Source: Olando Sentinel]
Housing market trend heading to Florida: Single-family homes to rent, not buy
Would you rather rent than own, but hate the idea of living right next to someone else? There's a new trend afoot: newly built, single-family houses that are for rent only. In the latest twist on the housing market, builders and analysts say the trend, prevalent in the western United States, is moving east, including into Florida. [Source: Palm Beach Post]
Here are South Florida’s largest office sales of 2020
Landlords have pulled out the stops to keep rents up and avoid the pitfalls of cities that have enacted more aggressive stay-at-home orders during the pandemic. [Source: The Real Deal]
Thousands of Central Floridians evicted since Florida eviction moratorium expired
The number of times local deputies have served formal eviction notices in the last two and a half months, has climbed into the thousands. These evictions represent both residential and commercial properties, but based on court filings, the majority are residential. It’s the first estimate of how many people in our community have been removed from their homes with fewer protections in the pandemic. [Source: WFTV]
18.51 percent
South Florida homes remain significantly overpriced but not as much as they were during the summer, according to a study from researchers at Florida Atlantic and Florida International universities. Miami-Dade County is 18.51 percent above its long-term pricing trend, compared to 19.20 percent in July, while Palm Beach County is overpriced by 18.32 percent, down from 18.70 percent. [Source: FAU]
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› Environmentalists against new wetlands construction permit process
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› Mick Jagger, girlfriend Melanie Hamrick buy house in Lakewood Ranch
Another rock star now has a home in Sarasota-Manatee.
› ‘I’m over this’: Building boom has some wishing for peace and quiet
Chainsaws buzz. Jackhammers clang. Backhoes beep. And a yellow crane hangs overhead, ready to work.
› Coral Gables estate features private beach
A 21,235-square-foot island estate in Coral Gables listed for $36.5 million has all the accouterments one would expect in a luxury home — 10 bedrooms, 11 baths, a home theater, elevator, wine cellar, fitness center and even two kitchens. It also comes with a feature many luxury homes lack — a private beach.
Previous Real Estate Updates:
- 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
- When will housing affordability improve? Spoiler alert: It will take some time
