November 29, 2021
Overpriced homes are declining. Maybe a slowdown is finally coming.

Florida Trend Real Estate

Overpriced homes are declining. Maybe a slowdown is finally coming.

| 8/30/2021

Overpriced homes are declining. Maybe a slowdown is finally coming.

Homes in Florida are a little less overvalued than they were a month ago, a positive sign after a year of insane pricing. The slight dip from last month’s index could signal a slight slowdown in the market, as mortgage applications have fallen. Or it could be the typical summer slowdown as families go on vacation. [Source: South Florida Sun-Sentinel ]

South Florida apartment crunch: Locals squeezed out, as demand from newcomers leads to record rents

South Florida has long been notorious for catering to well-heeled out-of-staters, while allowing its middle class to become housing cost-burdened. But the current climate of unprecedented rent increases, amid never-before-seen demand, has made renting more out of reach for locals than ever before, according to market analysts. [Source: The Real Deal]

Netflix to feature Tampa real estate company in reality series

A Tampa real estate company will be featured on a Netflix reality series by the creators of "Selling Sunset." The show, officially named "Selling Tampa," centers around Allure Realty selling luxury real estate in the Tampa Bay area and throughout Florida. Allure Realty is a 2-year-old Black, woman-owned real estate brokerage in Tampa. The female-run firm is owned by Sharelle Rosado, a military veteran. [Source: WTSP]

Real estate firms navigate their own return to office dilemmas

Shifted return timelines, hybrid work policies and vaccine mandates are all part of the picture as real estate companies set rules for their own employees. The real estate industry is smack dab in the center of these rapid shifts in the pandemic terrain. As landlords and investors, real estate companies have felt the effects of their tenants’ decisions. But companies are occupiers themselves and are continuing to assess their own remote work policies, return-to-office timelines and vaccine mandates. [Source: Wealth Management]

Real estate service Ribbon launches in Florida, guarantees financing offers same as cash

The real estate service Ribbon is coming to Florida, presenting assistance to homebuyers struggling to have their offers accepted in one of the tightest housing markets on record. The tech-based company turns mortgage-financed offers into all-cash offers. “We’re standing in as a way to protect the [homebuying] transaction for everyone,” said Shaival Shah, Ribbon’s president and CEO. More from the  Orlando Sentineland the Tampa Bay Times.

State elections officials have received more than 50,000 valid petition signatures for a ballot initiative that seeks to ensure money for affordable housing. As of midday Friday, the number of petition signatures submitted had reached 50,046, according to the state Division of Elections website. [Source: Jacksonville Business Journal]


› Employees at Florida real estate firm raided by SWAT team could face felony charges
Employees of a prominent Gainesville commercial real estate firm whose offices were stormed by an armed SWAT team this summer could face felony charges after a criminal investigation said they bilked their former employer out of a cache of confidential documents and deals worth millions.

› New real estate school comes to Sarasota
A Real Estate Couple in Sarasota has just launched a new Real Estate Prelicensing School in Florida, SHORE Real Estate Academy. Real Estate Broker Associates and Educators Erick & Tracy Jones have a combined 25 years in the real estate industry. They have a taught prelicensing courses in another state for many years and are excited to bring their school to Florida.

› Disney looking to develop massive 55+ community near Lake Nona
Yet another deal is in the works between Walt Disney Co. — Central Florida's biggest employer — and Lake Nona developer Tavistock. Burbank, California-based Disney (NYSE: DIS) is in talks with Tavistock Development Co. to develop an age-restricted community as part of the roughly 27,000-acre Sunbridge development near southeast Orlando's Lake Nona community.

› New York realty company pays $26.7 million for apartment complex near USF
A New York City real estate company has bought a 168-unit apartment complex north of the University of South Florida for $26.75 million. The St. Moritz Apartments, which is made up of rental townhomes, sold to Shlomo Tajerstein, principal of TG Realty in Brooklyn. Frank Carriera, of an executive vice president at the real estate agency CBRE, says in a press release announcing the sale that “the buyer will be executing on interior and exterior renovations, including refacing the buildings, new landscaping, signage and renovated amenities.”

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