How the government shutdown is affecting Florida home sales
The current federal government shutdown has created a backlog of closings for home sales in South Florida. The shutdown affected FEMA, which led to a suspension of new policies in the federal flood insurance program. Without flood insurance, closings started backing up until Congress stepped in to fund the program right before the new year. More from WPTV and NBC-2.
The Miami Association of Realtors signed collaboration deals with multiple associations of real estate agents in Mexico as South Florida homes gain appeal among Mexican investors. Mexican citizens spent $284 million to buy South Florida homes, accounting for about 4 percent of all foreign residential investment in the tri-county area. [Source: The Real Deal]
It's been about a decade since the last housing crisis, and economists warn that another national housing crisis is upon us. There's plenty of homes being bought and sold in Southwest Florida, but real estate experts said Collier County is unique due to how many wealthy people live in the area. [Source: NBC-2]
Robust existing-home sales growth, steadily rising median sales prices, healthy economic growth, and a maturing Millennial population — this is the recipe for success according to realtor.com’s 2019 housing market forecast. Based on these factors, Lakeland is forecast to have a spectacular year in terms of sales and home price growth. [Source: Inman]
Trade wars, interest rates, extreme weather — all these factors and more could affect residential real estate in the Tampa Bay area this year. Will we see the same trends as in 2018, when prices rose due to a relatively scant supply of available homes? [Source: Tampa Bay Times]
› Lakewood Ranch ranked second best-selling master-planned community in the country [Florida Trend]
Lakewood Ranch has been recognized as the second best-selling, master-planned community in the country by RCLCO, an independent real estate consulting firm; an increase from its third-place ranking for 2017.
› Two St. Pete Beach hotels sell for combined $100 million [Tampa Bay Times]
Two waterfront hotels on St. Pete Beach have sold for a combined $100 million, according commercial real estate firm Holliday Fenoglio Fowler. Together, the Grand Plaza Hotel and the Beachcomber Beach Resort have 258 rooms and span more than 9 acres.
› Construction zone ahead: Tallahassee developments to watch in 2019 [Tallahassee Democrat]
Expect 2019 to be another year of intense construction activity with new developments blossoming throughout Tallahassee. This year will mark the construction start and completion for a variety of projects, from hotels to apartment buildings.
› Airbnb sues Miami Beach over new rules to regulate short-term rental listings [The Real Deal]
Airbnb filed a federal suit against the municipal government of Miami Beach over the city’s new ordinance regulating short-term rental properties. The ordinance requires Airbnb and other short-term rental platforms to post listings for Miami Beach properties only if the listings include proof that the properties are registered with the city.