Florida Trend Real Estate
Fight over vacation rentals in Florida revs up again
Fight over vacation rentals in Florida revs up again
A years-long effort to block local governments from regulating vacation rentals is on the move again, as House and Senate leaders revive a proposal to prevent cities and counties from inspecting and licensing properties offered on platforms such as Airbnb. In a 10-7 vote on Wednesday, the House Regulatory Reform Subcommittee gave an initial nod to the latest version of the proposal (HB 219). While the legislation has morphed over the past few years, the controversy over the issue has remained consistent. [Source: News Service of Florida]
Rental assistance update: Money coming soon to strapped tenants and landlords
Landlords and tenants won’t have to wait much longer for promised federal money to help pay past-due rent. Federal relief money is slowly working its way to Florida renters and landlords who need it, according to officials overseeing several programs set up to distribute the funds. Statewide, $1.4 billion in coming weeks and months. [Source: South Florida Sun-Sentinel]
Despite rising housing costs, more South Floridians are staying put
The rising cost of living has been driving Miami-Dade residents outward for a decade. Is the tide finally turning? New projections from real estate group Redfin show that despite another year of outflows among existing residents of Southeastern Florida — driven largely by Miami-Dade County — the pace of the exodus appears to be slowing. That’s good news for municipal coffers and the taxpayers who feed them. [Source: Miami Herald]
Can you file bankruptcy and keep your house in Florida?
When people consider filing for bankruptcy, one of the first questions they often have is regarding whether they will or will not lose their home and other major assets. The home, especially, is of paramount concern for those who are facing overwhelming debt, since housing can be difficult to come by when you’re already struggling financially. Florida is one of the best states to live when it comes to filing bankruptcy. Why? Because the state of Florida has a very generous allowance called the homestead exemption. [Source: South Florida Reporter]
State-run Citizens Property Insurance is sounding alarm bells over their rising number of policies it holds in Orange, Osceola, Seminole and Lake counties. CEO Barry Gilway says Florida’s overall insurance market is “unhealthy” and has warned of higher premiums ahead for all Florida homeowners if the trend continues. [Source: Orlando Sentinel]
› Despite pandemic, Sarasota housing market broke records in 2020
Despite the Covid-19, the Sarasota and Manatee real estate market broke sales records in 2020. According to data from Florida Realtors and the Realtor Association of Sarasota and Manatee (RASM), home sales surpassed 2019’s totals with 10.4 percent more single-family sales and 15.1 percent more condo sales. In terms of inventory, compared to 2019, the month’s supply dropped by nearly 2 months in all markets.
› Fisher Island residents sue homeowners association, claiming $11M in losses
Seventeen Fisher Island owners have sued the tony enclave’s homeowners master association for a combined $11 million in losses, claiming some residents were unfairly exempted from paying dues. The plaintiffs sued the Fisher Island Community Association late last month, claiming it has allowed owners to combine units, then undercharged them dues for the last five years.
› As slice of old Seminole disappears, Longwood looks forward to new development
Back in its heyday more than four decades ago, tourists and locals would flock by the thousands to the Sanford-Orlando Kennel Club in Longwood for the thrill of watching greyhounds dash around a track and the chance of winning hundreds of dollars off a $2 wager. But in recent weeks, bulldozers, dump trucks and other heavy machinery have been tearing down what’s left of the three-story grandstand with ceiling to floor windows and razing the track to make way for hundreds of new apartments and eventually shops and restaurants on the nearly 30-acre property off Dog Track Road.
› Real estate firm names vice president to oversee Southwest Florida region
Coldwell Banker Realty in Florida has named Victoria Rivadeneira regional vice president for the company’s Southwest region. In this role, she will oversee affiliated sales associates and managing brokers in 19 offices from Manatee County through Collier County, according to a press release.
Previous Real Estate Updates:
- Florida's latest insurance crisis was decades in the making
- Buyers' income rises along with home prices
- Florida housing market most susceptible of a downturn in a recession
- 27, not 17, Florida insurers marked for downgrades. Officials warn of havoc for homeowners
- Florida ranks among top 10 states of America's most stable housing markets
- Florida real estate prices grew this spring but housing market is getting a wakeup call
- High demand for industrial warehouse space in Polk County remains strong
Report shows majority of Florida hospitals are not complying with the federal price transparency law
At some universities, tenure may become a thing of the past. That could have an economic impact.