Governor's budget includes full funding for Florida housing programs
Governor Ron DeSantis’ proposed state budget would fully fund Florida’s two affordable housing programs. He is recommending that all $387 million be used for housing needs. The Florida Legislature created the affordable housing programs in 1992 by raising the documentary stamp tax on real estate transactions. The money is supposed to be split between two programs, but it often gets sent elsewhere. [Source: WLRN]
This week, real estate backers will talk where to invest in South Florida
The first week of December in South Florida isn’t just for art enthusiasts. It also features a number of noteworthy real estate events. The Miami Association of Realtors will host a class titled Financing Programs to Close More Contracts This Year on Tuesday. Carmo Companies, a New York based real estate capital consultancy firm, will host the Latin America US Real Estate meeting on Wednesday. The Southeast Florida and Caribbean chapter of the Urban Land Institute will host a free workshop on Thursday. [Source: Miami Herald]
Average sale prices of South Florida industrial spaces have dropped. But experts aren’t worried
Warehouses in South Florida sold for less this year than in 2018, according to a recent study. But the price per square foot in Miami-Dade was up, indicating a healthy market, say experts. The average sale price for industrial spaces in Miami-Dade, Broward and Palm Beach dipped from $1.9 million in 2018 to $1.6 million in 2019, according to Reonomy. [Source: Miami Herald]
Florida Supreme Court urged to decide conservation dispute
Five years after Florida voters approved a constitutional amendment aimed at land and water conservation, environmentalists urged the state Supreme Court to wade into a battle about how money can be spent. The amendment required setting aside a portion of real-estate documentary stamp tax revenues in what is known as the Land Acquisition Trust Fund for conservation efforts. [Source: WJCT]
If you have been fortunate enough to have lived on the First Coast during the last decade there is no denying the amount of growth you have witnessed. Commercial and residential properties seem to be hot commodities in many areas of the region. So, why is Northeast Florida so popular and will it maintain this level of expansion throughout the next 10 years? According to industry professionals, all signs point to a resounding “yes!” [Source: Ponte Vedra Recorder]
› South Florida’s real estate industry saw profit shrink from 2013 to 2017 [Miami Herald]
South Florida’s real estate industry earnings for those selling and leasing commercial and residential spaces shrank in recent years, according to a study by LeadMD. But some local real estate pioneers say their experiences tell a different story.
› Orlando housing: As Baby Boomers die, area may have too many excess homes [Orlando Sentinel]
A “silver tsunami” is coming to Florida’s housing market as more Boomers pass away in the coming years with Orlando being one of the top areas impacted, according to a study by Zillow. Over the next 20 years more than a quarter of the nation’s currently owner-occupied homes will be on the market as owners pass on, the study showed.
› Well-respected real estate firm refreshes brand to prepare for years ahead, enhance current edge [Business Observer]
Real estate entrepreneur Michael Saunders is known for wearing vibrant scarves. Now her widely known company and brand is taking a page from its founder and putting a scarf on, too, so to speak. Sarasota-based Michael Saunders & Co. has 24 offices and about 700 agents throughout the Sarasota-Manatee region and Southwest Florida.
› Miami real estate company expands Into Vero market [TCPalm]
ONE Sotheby’s International Realty, South Florida’s leading luxury and global real estate brokerage, has acquired Treasure Coast Sotheby’s International Realty in Vero Beach. With the acquisition, ONE Sotheby’s will expand to key luxury markets along Florida’s Treasure and Space coasts, from Vero Beach and to Merritt Island.