Florida Trend Real Estate
One of Florida's biggest real estate investors says market is headed for a correction
One of Florida’s biggest real estate investors says market is headed for a correction
Just before a power lunch at Sant Ambroeus in Palm Beach, real estate billionaire Jeff Greene picks up the phone to discuss the past year’s “huge migration” to southern Florida. “People have realized that they can get a much higher quality life and still make the same amount of income,” he says. But Greene — who owns more than $2 billion worth of property, roughly half of it in Florida — thinks the frenzy is nearing a peak. “Prices have just gone higher than anyone ever could have imagined,” he says. Come autumn, he believes, many families will return to their original homes in New York, Los Angeles and other cities, causing prices to moderate. [Source: Forbes]
Florida lawmakers sign off on bills to combat sea-level rise, affordable housing
David Plowden paid $197,000 for his 700-square-foot studio with a view of Lake Eola. He said the price was originally listed at $200,000, but he talked the owner down, something many real estate agents say isn’t happening much in the single-family housing market these days. [Source: Orlando Sentinel]
Florida leaders OK using affordable housing trust fund for sea level rise, sewage plants
The House voted 118-0 to approve a measure (SB 1954) that calls for spending up to $100 million a year on projects to address flooding and sea-level rise and creating a grant program for local governments. The “resiliency” issue has particularly been a priority of DeSantis and House Speaker Chris Sprowls, R-Palm Harbor. [Source: WUSF News]
Historic Florida church now a 4-bedroom, $1.3 million home
A 1928 church has been renovated into a four bedroom home, complete with a large stained glass window of Jesus. The home in St. Petersburg is slated for closing at $1.3 million later this week, listing agent Bryan Belcher told the Tampa Bay Times. The home’s great room features high ceilings with the original exposed scissor trusses, and comes with a few pews. [Source: Tampa Bay Times]
Disney in talks for mixed-use development in Lake Nona, sources say
Burbank, California-based The Walt Disney Co. and developer Tavistock Development Co. LLC are in talks to build a residential and commercial community in Lake Nona in southeast Orlando. It's unclear what relationship this potential deal has, if any, to Disney's talks with Lake Nona developer Tavistock to relocate jobs from California to the master-planned community. [Source: Orlando Business Journal]
› Miami's real estate boom: Too good to be true?
With South Florida now experiencing a well-publicized real estate boom characterized by top-dollar prices and fierce competition for homes, you might expecttop real estate agents to be thrilled. But many of them are fearful.
› Largest penthouse in Hillsboro Beach listed for $3.85 million
You might be aware that some of the most popular television shows were syndicated by King World Productions. But did you know that the King family was also active in the South Florida real estate industry and developed a condominium project in Hillsboro Beach?
› Raising Cane's explores future Central Florida locations at The Loop and near Lake Nona
The chain — which offers chicken fingers, fries, Texas toast, coleslaw and drinks — has roughly 500 restaurants nationwide.
› Richard Perrone chosen Gulf Coast Builder of the Year
This prestigious recognition follows a 40-year history of building notable custom waterfront homes in Sarasota.
Previous Real Estate Updates:
- The dwindling supply of homes may be poised for a turnaround, cooling the red-hot market
- Smaller, affordable homes are heading back to the market
- Overpriced homes are declining. Maybe a slowdown is finally coming.
- Florida's home prices spike ‘well in excess of recent norms,' but could cool soon
- Home prices in Florida cities jump 32%, biggest U.S. gain
- More than 144,000 Floridians at risk for eviction
- Florida's sizzling real estate market could ease in summer