Some houses are being built to stand up to hurricanes and sharply cut emissions, too

Some houses are being built to stand up to hurricanes and sharply cut emissions, too

When Hurricane Michael hit the Florida Panhandle five years ago, it left boats, cars and trucks piled up to the windows of Bonny Paulson's home in the tiny coastal community of Mexico Beach, Florida, even though the house rests on pillars 14 feet above the ground. But Paulson's home, with a rounded shape that looks something like a ship, shrugged off Category 5 winds that might otherwise have collapsed it. [Source: AP News]

Will mortgage rates go down? Experts weigh in

The average rate on 30-year fixed mortgages remained at generational highs this week, climbing to 8.01%, up from 7.99% the previous week, according to Bankrate’s weekly national survey of large lenders. The average rate on 30-year home loans hit its highest point since August 2000, according to Bankrate research. That was before the Sept. 11 terror attacks led the Federal Reserve to slash interest rates, and well before the Great Recession spurred the Fed to keep rates low throughout the 2010s. [Source: Sun-Sentinel]

Opera legend's widow to help deliver $30M performing arts center to Naples

One of the world's most premier opera names plans to bring a $30 million multipurpose state-of-the art theater to Naples. The project, a partnership with the Luciano Pavarotti Foundation, is dubbed The Theater in the Garden of Naples. It's designed to honor the world-renowned tenor, while also fulfilling the long-standing need for such a multiuse facility in Naples, according to a statement. [Source: Business Observer]

Jeff Bezos, after founding Amazon in a Seattle garage three decades ago, packs his bags for Miami

In a Thursday night Instagram post, the 59-year-old Bezos announced plans to return to Miami — where he spent his high school years — to be closer to his parents and his partner, Lauren Sánchez. Bezos stepped down as the CEO of Amazon, still based in Seattle, almost three years ago and said in his social media post that operations for his rocket company, Blue Origin, are “increasingly shifting” to Cape Canaveral. Miami is about 200 miles south of Cape Canaveral. [Source: Sun-Sentinel]

Construction company, restaurant group partner to buy Lee County marina

A marine construction firm and family-owned restaurant group have partnered to acquire a marina in St. James City on Pine Island in Lee County. The buyers are WB Williamson Bros. Marine and Phelan Family Brands. The entities, according to a statement, acquired Wallace Bait Marina. Financial terms of the deal weren’t disclosed. “This strategic move marks an exciting development for both organizations, as they come together to carry forward the legacy of Wallace Bait,” according to a statement from both WB Williamson Bros. and Phelan Family Brands. [Source: Business Observer]

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› In Tampa, notorious white paint on old cigar factory was bad for bricks [Tampa Bay Times]
Historic preservationists were furious in 2019 when the owners of West Tampa’s Santaella Cigar Factory chose to cover the exterior’s yellow bricks with white paint. City Council weighed in, too, discussing whether they should step in and force local historic landmark designation on the building, which would prevent the exterior from being modernized.

› Court ruling may mean less pay to real estate agents when you're buying or selling a home [Palm Beach Post]
How much you pay to a real estate agent to buy or sell a home is likely to go down after a victory for consumers in a federal trial in Missouri earlier this week. A jury in a case against the National Association of Realtors and several large brokerage firms found the parties conspired to keep costs artificially high and awarded $1.8 billion in damages, which could rise to more than $5 billion under antitrust rules.

› St. Petersburg real estate magnate Mel Sembler has died [Tampa Bay Business Journal]
Mel Sembler, who founded St. Petersburg real estate development firm Sembler, has died at 93 years old. “On Tuesday, Oct. 31, our beloved founder, leader and longtime chairman emeritus, Ambassador Mel Sembler, passed away surrounded by his loving family,” the company said in a statement. “Ambassador Sembler was our charismatic and passionate leader that embodied excellence through his business pursuits, community service and civic endeavors.”

› Florida real estate market faces challenges as insurance costs soar [WSVN]
The Florida real estate market is grappling with a significant obstacle – skyrocketing insurance costs. For some homeowners, these rates have surged by a staggering 100%, causing concern in the property market. The primary culprit behind this surge is the increasing frequency of extreme weather events in recent years.

Tags: Real Estate eNews

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• Now might be the time to move to Florida as inventory levels surge and sellers slash prices
• Florida home values have more than doubled in the past decade
• 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
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• Want to get rich quick selling Florida real estate? Think again.