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Florida will fully fund affordable housing, lawmakers say

Florida will fully fund affordable housing, lawmakers say

The Sadowski Trust Fund was set up to help ease the burden of housing costs, using money collected from a doc-stamp tax on all state real-estate transactions. Each year, the fund collects hundreds of millions of dollars, money that can go a long way to help families and individuals looking for affordable housing: everyone from the homeless to first-time home-buyers. However, nearly $3 billion have diverted out of the Sadowski Fund to balance the state budget over the last several years. More from Click Orlando, the Tampa Bay Times, and the Miami Herald.

See also:
» Local governments in Central Florida introduce 10-year plan to combat affordable housing crisis
» South Florida Experts Discuss Region's Affordable Housing Problem
» Opinion: 'Affordable housing' is vital for first responders, educators.

Coronavirus deals a blow to retail REITs

Add the COVID-19 coronavirus to the list of obstacles facing brick-and-mortar retail. Authorities have confirmed cases of the virus in more than 80 countries and territories worldwide. Concern over the virus — or measures taken to stop the spread of the virus — could keep shoppers at home. [Source: The Real Deal]

Three Florida properties are poised to shatter real estate records

Three residential properties in Florida are expected to break price records for the most expensive properties to be sold in their locations if they sell at asking prices, or even higher. From the Florida Keys to Fort Lauderdale, these are the contenders vying for their day in the sun. [Source: Forbes]

Why it may pay to head north when investing in Florida

Millions of Americans can't afford to own homes, which is why there will always be an active rental market. And many real estate investors flock to Florida hot spots like Miami, where rental units are perpetually in demand. But new research from Millionacres reveals that it could pay to stick to the northern part of the state if you're looking at income properties -- specifically, the Crestview–Fort Walton Beach–Destin area. [Source: Motley Fool]

Florida’s real estate boom crashes in ‘Bubble in the Sun’

Florida was the scene of an even more outlandish boom about a century ago, one that might have had even more dire consequences than the recession that followed the 2008 crisis. That era is the subject of Christopher Knowlton’s absorbing new book, Bubble in the Sun: The Florida Boom of the 1920s and How It Brought on the Great Depression. [Source: ]

STAT OF THE WEEK
$1.46 million
What do luxury single-family home buyers want in Miami? It may be simplicity. An ‘Old Florida’-style home sold for $1.46 million on Friday. [Source: Miami Herald]

ALSO TRENDING:

› Gainesville realtor finalist for National Association of Realtors 30 Under 30 competition
A North Central Florida real estate agent has a new listing: He's a finalist for the National Association of Realtors 30 Under 30 competition. Adam Gurske with Matchmaker Realty in Gainesville is one of three Florida realtors in the list of 50 finalists. Gurske's bio page says he is a graduate of Buchholz High School and the UF College of Business Administration.

› Palm Beach-based Douglas Elliman agents earn sales awards at national ceremony
Several Palm Beach agents were named among the crème de la crème in Florida when Douglas Elliman Real Estate handed out its national “Ellie” awards Tuesday during a ceremony at the Mohegan Sun resort in Uncasville, Connecticut. The island-based Leavitt McIntosh Team, led by agents Christopher Leavitt and Ashley McIntosh, tied for first place in the Top Teams category, based on gross commission income last year. The agents shared the No. 1 slot with The Carroll Group of Miami.

› Florida state representatives are fighting for affordable housing funding
Florida State Rep. Carlos Guillermo-Smith (D-Orlando) says finding solutions to fight Central Florida’s affordable housing crisis is a priority in Tallahassee right now. The state lawmaker said that in reaction to seeing a story about a single father of four struggling to find affordable housing. “[It] was a heartbreaking story,” Smith said, adding he was sad but not surprised.

› Naples real estate management team launches ADG4
Four well-known real estate management and development professionals with ties to the transformation of Naples’ Fifth Avenue South into a world-class destination have announced the formation of a new organization — ADG4. Led by Zahra Antaramian, Bob Frazitta, Charles Thomas and Peter Carroll, ADG4 provides an array of residential and commercial property management and development services through a group of related entities.