August 12, 2022
Florida home to be sold in nation's first non-fungible token deal

Florida Trend Real Estate

Florida home to be sold in nation's first non-fungible token deal

| 2/7/2022

Florida home to be sold in nation's first non-fungible token deal

A home along Florida’s Gulf Coast will be auctioned off in the upcoming week as a non-fungible token in what is believed to be among the first such transactions in the U.S. Non-fungible tokens — or NFTs — use a version of the encryption technology employed to secure cryptocurrencies to create one-of-a-kind digital objects. The technology provides digital creations a kind of certificate of authenticity, allowing ownership of something that could otherwise be replicated endlessly. More from the AP, WTSP, and the Tampa Bay Times.

Sizzling housing market in Florida hurts many, but help slow to come from legislature

Florida’s white-hot housing market is setting new pricing records almost daily, but thousands of homeowners and renters are being scorched, unable to find anything they can afford. Now, talk of the unfolding crisis is coursing through the Florida Legislature, with calls for lawmakers to do something. But don’t expect help quickly. [Source: Gainesville Sun]

Counter balance: Nimble developer finds ways to navigate housing crunch

As home prices skyrocket in St. Petersburg and Pinellas County — which, being a peninsula on a peninsula, has scant land available for new construction — residential real estate developers are reaping the rewards of offering a new vision for surburban living. Tampa-based Metro Development Group, in particular, has been one of the big winners of the affordable housing crisis that’s taken hold in many Florida cities, particularly St. Pete and Tampa. Five of Metro’s communities — Epperson, Mirada, Southshore Bay, Union Park and Cypress Creek — rank among the 20 fastest-growing new-home communities in the Tampa Bay area. [Source: Business Observer]

South Florida’s rent crisis: Some no longer can afford their longtime homes as rents rise by as much as 40%

The house crisis has grown as a problem, with some families starting to lose hope, said Linda Taylor, president of H.O.M.E.S, a nonprofit in Broward County that provides community and economic development benefiting at-risk and disadvantaged lower income residents. “Many who can transition are, but many can’t afford to transition to another community,” Taylor said. Some renters are making the decision to leave South Florida all together, seeking areas out-of-state or farther north, where the cost of living is cheaper and rents aren’t as astronomical. [Source: South Florida Sun-Sentinel]

Rising insurance rates squeeze retirees

While Florida residents are not the only ones wrestling with this issue, the state’s popularity with retirees means that it is a problem a growing number will confront, experts say. When drawing up a budget for living on a fixed income, most would-be retirees think about services and goods, such as doctor visits or prescription drugs, that are likely to cost more in the future. Almost no one thinks of home insurance — an omission insurance professionals warn will be an increasingly costly mistake. [Source: New York Times]

STAT OF THE WEEK
$740 million
The Florida Department of Children and Families will be distributing more funds to help families amidst rising rent costs. The $740 million is the second round of federal COVID-19 money for DCF’s emergency rental assistance program, Opportunities for Utilities and Rental Assistance (OUR) Florida. [Source: WUSF]

ALSO TRENDING:

› Going green is 2022 home decor trend around Tampa Bay
Green is in, gray could be heading out. Love those clean mid-century lines, but how about something really comfortable. And wouldn’t a luxurious home theater be nice? With many of us spending a lot more time at home during the pandemic, tastes in furnishing and decor have changed.

› New Downtown Miami high-rise project seeks to bring more affordable urban living
A proposed new high-rise project in Downtown Miami will aim to to bring workforce housing — and potentially affordable housing — to the Miami Dade College Wolfson Campus to fill a need for more attainable living in the urban core. Three residential towers are expected to replace the seven-story College Station Garage at 190 NE Third St. After issuing a request for proposals late last year, the Miami Parking Authority selected a proposal on Tuesday from developers Related and Rovr over a proposal from Terra.

› Three new retail and major housing projects in works for Manatee County
Three major projects could soon bring new commercial space and a mix of housing options to key areas of Manatee County. The projects include a new retail shopping center in Parrish, new townhomes on Cortez Road and hundreds of new homes in Ellenton. Manatee County commissioners approved zoning changes to make the three projects possible on Thursday, but residents are concerned about the impact they will have on traffic in the area.

› Jacksonville issues permits for $65 million San Marco area apartments
The city issued permits Feb. 3 for the $65 million construction of The Station at San Marco apartments in the Southbank/San Marco area. The FaverGray Co. is the contractor for the project at 1230 Hendricks Ave. Block One Ventures is developing the five-story, 345-unit project and a six-story parking structure with a pool and fitness center on top of the parking deck. There will be 5,000 square feet for a retail space on the ground floor.

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