February 17, 2020
Florida millennials are moving back to the burbs

Photo: Eileen Escarda

Florida Trend Real Estate

Florida millennials are moving back to the burbs

| 2/10/2020

Florida Trend Exclusive
Florida millennials are moving back to the burbs

Mirroring a national shift to the suburbs, growth in most of Florida’s largest cities and urban counties has slowed. For the subset of buyers in Florida who are Millennials, the Census evidence of a similar shift is inconclusive, but builders have sensed opportunity in a massive generation forming households and having children. [Source: Florida Trend]

Opinion: In the Google age, human Realtors are increasingly important

Fundamentally, the role of the real estate agent in 2020 has not changed due to the internet. If anything, the Realtor’s role becomes more important as there is an abundance of information to review and validate. Experience, knowledge, and integrity makes a great professional. Listening, understanding, patience and interpretation of both customer and offering are still human services that a computer cannot provide. [Source: Miami Herald]

Critics want Fort Lauderdale to put brakes on building boom

The building boom in full swing in Fort Lauderdale might just hit a wall as city leaders struggle to contain a never-ending series of sewer pipe breaks. Critics of the city’s ongoing development spurt have been calling for a moratorium for years. Developers have been just as outspoken in opposing what they call a drastic measure that would have dire effects on the city’s tax base. [Source: South Florida Sun-Sentinel]

Who owns Florida's Wisteria Island, a developer or the government? Judge to decide

Wisteria Island, created by the U.S. Navy nearly a century ago, has been left untouched for decades, except by boaters and campers who make their homes there. It's a valuable piece of real estate that's now at the center of a court battle between a developer and the federal government who both say they own it. [Source: KUOW]

Seniors in Southwest Miami-Dade have a new affordable option. Units are going fast

As Miami grapples with the high cost of living, affordable housing developer Pinnacle has opened a new option specifically geared to seniors. Two months after opening, 75 of the 123 units in Caribbean Village are leased. “There is a shortage of affordable housing and the leasing activity of the Caribbean Village speaks to demand,” said David Deutch, a partner at Pinnacle Housing Group. [Source: ]

STAT OF THE WEEK
$24.5 million
A sprawling 13-acre estate in the Florida Keys hit the market for $24.5 million. The Tavernier property, at 94100 Overseas Highway, would set a record in the Keys if it sells for more than the current record of $13.125 million. [Source: The Real Deal]

ALSO TRENDING:

› Sarasota-Manatee homeowners gain on equity
Climbing property values keep paying off for Southwest Florida homeowners. Fewer local homeowners were underwater on their mortgages at year end, according to a report on Wednesday from real estate researcher ATTOM Data Solutions. A total of 10,065 homeowners, or 5.4% in the Sarasota-Manatee region, owed at least 25% more on their mortgages than their properties are worth, putting them in “seriously underwater” condition, the report said.

› City of Tallahassee to hold public meetings on affordable housing
The City of Tallahassee’s plan to maintain and improve housing for low and moderate-income families is approaching its first public inquiry. Beginning Monday, Feb. 10, the City will host public meetings in order to explore housing and community development needs. They also plan to address any barriers to fair housing.

› Prominent Southwest Florida real estate developer plans new office complex
One of the most prominent firms in Southwest Florida, The Lutgert Cos., is building a three-story Class A professional center in Naples. The project is just south of Pine Ridge Road at 4850 U.S. 41, according to a statement. The firm's holdings include Premier Sotheby's International Realty, Lutgert Construction, Lutgert Custom Homes, Premier Commercial and Lutgert Title.

› Jacksonville’s multifamily market on the rise
Multifamily housing properties surpassed the $1 billion mark in sales on the First Coast for the fourth consecutive year. The number of units at multifamily housing properties jumped to 118,373 by the end of 2019, according to Colliers International. That’s up from 115,950 in 2018.

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A sprawling country estate built for the founder of Lazydays RV is listed for sale at $22 million. It is four stories, 36,361 square feet and has eight bedrooms, 12 bathrooms, 16 half bathrooms and elevator access to all levels. There's a seven-car garage on the property, as well as a two-story guesthouse, pool house, and a six-bay horse stable and barn.

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