MIAMI – Many prospective homebuyers sent a strong message at the start of 2023: They are done trying to buy homes in South Florida, as annual sales nosedived in January in Miami-Dade and Broward counties. For residents patiently waiting to buy a bigger house here or move to a different neighborhood for better quality of … Read more
Developer Stephen Ross says New Yorkers are moving to Fla. for jobs, not just retirement, due to tax issues, security concerns and Fla.’s “ease of living.” NEW YORK – Billionaire Stephen Ross, founder of the firm that developed Manhattan’s Hudson Yards, is pushing deeper into South Florida in a bet that wealth will continue migrating … Read more
Residents expect HOAs to enforce rules and often empower them to fine and suspend homeowners. But laws and rules keep HOAs from being all-powerful. MIAMI – Community associations’ abilities to fine and suspend unit owners who refuse to comply with their rules and restrictions are essential for the viability of the home/condo-owner association model for … Read more
31% of U.S. Dec. sales were for cash, though Fla. percentages ran as high as 52% in West Palm Beach. VA and FHA loans also rose in most Fla. metro areas studied. SEATTLE – Roughly one-third (31.2%) of U.S. home purchases were cash sales in December, according to a report from Redfin. That’s up from … Read more
In Fla., though, rents outpaced the national average. Jacksonville saw the highest year-to-year change with a 7.5% increase, and a low of 3.5% in Miami and Tampa. SEATTLE – The median U.S. asking rent rose 2.4% year-over-year to $1,942 in January – the smallest increase since May 2021, and the lowest level in nearly a … Read more
WASHINGTON – The Financial Crimes Enforcement Network (FinCEN) issued an alert to financial institutions on Jan. 25 to be on the lookout for sanctioned Russian elites, oligarchs and their family members who might be trying to circumvent sanctions by investing in U.S. commercial real estate. That creates new a challenge for banking and commercial real … Read more
In the latest 20-city index, U.S. home prices rose 7.7% year-to-year and dropped 0.6% month to month. But two Fla. cities, Tampa and Miami, saw different results. NEW YORK – The latest S&P Dow Jones Indices released on Tuesday and covering November 2022 found a repeated pattern: The index measuring U.S. home prices year-to-year was … Read more
Prices didn’t stop rising in 2022, increases just slowed. U.S. sellers averaged a $112K profit, up 21% – and eight of the top investment returns were in Fla. metros. IRVINE, Calif. – According to Attom’s end-of-year report, the typical sales profit percentage rose from 2021’s 45% to 51% last year, even with values dropping in … Read more
Goldman Sachs 2023 prediction includes a 2008-type housing crisis, but only in four U.S. cities it considers “overheated”: San Jose, Austin, Phoenix and San Diego. NEW YORK – Goldman Sachs is predicting dark days in 2023 for some of the pandemic’s red-hot U.S. housing markets. The investment bank shied away from predicting a nationwide crash, … Read more
TALLAHASSEE, Fla. – A second notable swell of newcomers traded out-of-state driver’s licenses last year for ones with a Sunshine State address following temptations of tropical succor, an income tax desert or a particular political ethos. More than 583,200 people were freshly entered into the state Department of Highway Safety and Motor Vehicles database in … Read more
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