Out-of-state buyers flock to South Florida
A growing list of public officials in high-tax states are expressing alarm that big earners are bolting to low-tax states as new data suggests some home buyers are moving in response to the year-old change in the federal tax law. "I've been starting to see New Yorkers as Florida's new foreign buyer," real estate appraiser Jonathan Miller, who publishes quarterly reports for real-estate company Douglas Elliman about the South Florida market. More from the Wall Street Journal, the Real Deal, and the AP.
No location is completely safe from climate change, but Miami's future looks particularly challenging. The city's sea levels are rising at faster rates than in other areas of the world, already resulting in floods, contaminated drinking water, and major damage to homes and roads. That hasn't stopped high-profile architects from rolling out luxury developments in Miami that boast beachfront access and ocean views. [Source: Business Insider]
Don Bell is a busy guy. As a full-time real estate agent near Daytona Beach, Bell closed on three houses last week. His week got even busier when he shot a back-nine 28 during a PGA Tour Champions qualifier to crash the party at this weekend's Oasis Championship. More from the Golf Channel and PGA.
Gov. Ron DeSantis has named commercial real estate executive Jonathan Satter to lead Florida’s Department of Management Services. Satter will now lead the state agency that manages state property and workers' benefits. See the announcement from Gov. DeSantis and read more from the Tampa Bay Times and Florida Daily.
The 1.8 million-square-foot project at N Dale Mabry Highway and I-275 will include office buildings, apartment blocks, a hotel topped with a rooftop activity space, a Whole Foods Market, and more. Midtown's leasing agents are in the process of negotiating leases for more than half the retail space, which will include six to eight full-service restaurants. [Source: Tampa Bay Times]
› Florida Lifestyle Homes has strong sales year in Quail West [Naples Daily News]
Behind the privacy gates of Quail West, sales of new homes were extremely strong in 2018. According to its year-end report, the community recorded 42 sales for a total sales volume of $90,303,894. The number of sales and the sales volume were both approximately 20 percent higher when compared to 2017.
› Latest credit breach exposes mortgage data for thousands of borrowers [Miami Herald]
A large breach of mortgage data that has exposed the personal financial information of tens of thousands of borrowers raises key consumer questions: What happens to all those disclosures we make after we apply for and obtain a home loan — our tax returns, Social Security numbers, credit card accounts, bank-account numbers and detailed summaries of our assets?
› Ave Maria is Southwest Florida’s fastest growing community [Florida Weekly]
For the past five years, more home buyers have chosen Ave Maria as their new home community in both Collier and Lee counties. Setting the standard for new hometowns, Ave Maria already has a fully developed Town Center with Publix supermarket, shops, restaurants, medical offices, and services.
› Real estate behemoth Douglas Elliman buys St. Petersburg’s Strickland Property Group [Tampa Bay Times]
The nation’s third largest residential brokerage has bought the Strickland Property Group, one of Pinellas County’s most successful real estate firms. Douglas Elliman, which has more than 7,000 agents in 113 offices around the country, was looking to expand in Florida.