Florida bucks national trend, home sales jump 11% in September
According to the latest housing data by Florida Realtors for September 2019, Florida's housing market reported more closed sales, higher median prices and increased pending inventory compared to a year ago. Sales of single-family homes statewide totaled 23,510 last month, up 11.5% from September 2018. [Source: World Property Journal]
Why shipping container homes are trending in Florida
Shipping container homes are gaining popularity in Florida. Whether you want to live in a popular city like Miami or a suburb of Orlando, you can purchase the home of your dreams for a very high price. Many homebuyers get stuck in the “money pit” of a dream home. As an alternative, you can purchase a house made out of shipping containers that still offers tremendous value, space and looks. [Source: South Florida Reporter]
As Florida grows, low-impact development could offer protection for waterways
Low-impact development (LID) is a design approach for real estate developers to manage future stormwater runoff needs. When used effectively, rain gardens, permeable pavement, rain harvesting and other LID methods can often improve nutrient removal, use a smaller footprint and provide additional benefits when compared to a traditional stormwater pond system. [Source: Flagler Live]
Rising financial wealth boosts demand for vacation homes
Increased financial wealth and low mortgage rates boosted the demand for and price of vacation homes, according to the National Association of Realtors 2019 U.S. Vacation Home Counties Report. Between 2013 to 2018, the median sales price in vacation home counties increased at a slightly higher pace of 36 percent compared to the pace of increase of all existing and new homes sold at 31 percent. [Source: National Association of Realtors]
As of last month, Texas home sellers have to disclose a lot more information about flood risk and flood history. Now they must tell potential buyers if the home has ever flooded or if it’s in a flood pool, in or near a reservoir or if it’s within a 500-year floodplain. Meanwhile, in Florida, the state most at risk from sea rise driven flooding, no such law exists. [Source: Miami Herald]
› Real estate firm pivots from management to ownership [Business Observer]
Is it better to manage a commercial property or to own it? For the Tampa-based Florida division of Ciminelli Real Estate Services, a firm headquartered in Buffalo, N.Y., the answer is simple: Why not both?
› Here are the 20 Tampa Bay ZIP code areas where prices have shot up the most [Tampa Bay Times]
Anyone looking to buy a house near downtown Tampa or downtown St. Petersburg knows all too well that sale prices have soared in recent years. Some of the biggest increases recently, however, have been in places far removed, a Tampa Bay Times analysis shows.
› Co-living venture Urbin expanding to Miami Beach [The Real Deal]
Developer Rishi Kapoor is betting on co-living, starting with three projects in Miami-Dade. Kapoor, CEO of Location Ventures, is moving forward with a $50 million co-living project at 1234 to 1260 Washington Avenue, now that the Miami Beach City Commission passed co-living legislation for a portion of Washington Avenue from Sixth to 16th streets.
› Residential real estate team adds new director of operations [Business Observer]
A rapidly growing residential real estate team added a new director to its staff. Southwest Florida R.E. Group, based in Bonita Springs, named Alyssa Sweat as director of operations, according to a news release. The principals created the new senior position to help the organization and management of the team which has grown to nearly 50 agents over the last two years, the release says.