As Florida property insurance crisis eases, here are key efforts to lower rates
The state’s Republican leaders say the chief culprit in the state’s notoriously expensive property insurance market — excessive litigation — has been tamed, but a slew of bills show lawmakers from both parties don’t believe the problem is entirely solved. More closely monitoring insurance profit-sharing companies, unwinding some of the secrecy that protects the state’s insurers and even a rewards program for homeowners without nonweather-related claims in their history are among the property insurance-related bills undergoing review. More from the Palm Beach Post and Click Orlando.
See also:
» Florida insurance officials contend market is strongest 'in well over a decade'
» Worries grow in small Florida cities and towns over possible property tax cuts
» Former U.S. lawmaker: Ending Fla. property tax sounds good, but risky
Real estate's biggest wealth gaps aren't where you'd expect
Florida has five metros that ranked in the top 10 on Realtor.com's list of places with the widest luxury gaps in real estate, partially fueled by high-net-worth individuals moving to Florida recently. Miami specifically dethroned the New York City metro area as the city with the most $1 million-plus listings in the country. [Source: Business Insider]
See also:
» Florida’s Luxury Market: What’s a trend, and what’s here to stay?
Has The Villages lost its shine? Demand cools as boomers seeking a more relaxed lifestyle eye the exit
The sprawling senior community of The Villages boomed during the pandemic, drawing retirees in droves, but new data suggests the Sunshine State enclave may be losing some of its appeal. Real estate agents in the region say The Villages can be a polarizing town that is not a universal fit. After living there for a few years, some residents look to relocate to more laid-back senior condo communities, or move closer to the beach. [Source: Realtor.com]
Affordable housing on church land? This Florida city just said no
In a supermajority vote, the Miami City Commission on Thursday swatted down a proposal that sought to change the city’s zoning code to allow the development of affordable housing, including mixed-use residential development, on land that has a place of worship on site or is zoned for certain civic uses, like schools, nonprofits and government entities. The city had identified over 660 properties totaling nearly 1,800 acres that fell into those categories. [Source: Tampa Bay Times]
Where South Florida real estate developers are placing their bets for 2026
It’s a new year, and that means new developments coming to South Florida. But where are developers placing their bets? Erik Rutter, Ana Bozovic and Daniel Kodsi are among the "must-knows" in South Florida’s real estate scene. And their predictions for where developers are placing their focus on opportunity for new development are right in Miami’s financial capital, Downtown. [Source: NBC Miami]
$101.5 million
A trust linked to Google co-founder and billionaire Larry Page paid $14.97 million for a home in Miami’s Coconut Grove – right next to a big estate the same trust acquired for $101.5 million a few weeks ago. [Source: South Florida Business Journal]
› Home sales surge in Charlotte County as season ramps up
Charlotte County Realtors reported a surge in home sales in December as seasonal residents returned to Southwest Florida, and buyers moved quickly to close before the end of the year. Sales of single-family homes, townhomes and condominiums all increased from November, reflecting renewed activity driven by tourists, favorable weather and buyers seeking to establish homestead status for tax purposes.
› Market shift makes for a 'normalized' home market in Northeast Florida
Home prices dipped and residential construction fell off in Northeast Florida through 2025, yielding advantages for homebuyers in the region. “With inventory being high, buyers were able to get the home they want and negotiate the home that they want,” said Mario Gonzalez, president of the Northeast Florida Association of Realtors and owner of Navy to Navy Homes. “They can negotiate improvements or repairs, they were able to negotiate again.”
› St. Petersburg unveils plan to purchase flood-prone properties
St. Petersburg is finalizing the second phase of its $160 million disaster recovery plan, which includes homebuyer assistance, affordable housing and voluntary buyout programs. The city expects to purchase 14 high-risk residential or commercial properties, help create 582 affordable multifamily housing units and provide 70 low-income households with up to $80,000 in down payment assistance. Acquisition program participants will receive the post-storm fair market value for their homes, up to $400,000, and cash relocation incentives.
› South Florida developer buys Shell Factory property in Fort Myers
The Fort Myers property that was the home of the Shell Factory & Nature Park for 85 years has sold to a Boca Raton developer. The sale price for the 19-acre property on U.S. Highway was $3.92 million. Cushman & Wakefield | Commercial Property Southwest Florida, which brokered and announced the sale, says in a statement that the buyer “plans to pursue redevelopment of the site, with multiple future-use options under consideration. Final development plans have not yet been announced.”