| REAL ESTATE NEWS |
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| 10/30/08 Condo boards in quest of cash |
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Attorney Ralph Ruocco said when a board forecloses on a unit, the lender is no longer obligated to pay delinquent condo fees.
Daily Business Review - Paola Iuspa-Abbott - October 30, 2008
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| 10/22/08 Recent financial crisis fails to hurt confidence in Florida real estate |
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The national economic crisis has failed to rattle Florida real estate experts, who, despite serious concerns about the availability of financing, remain surprisingly calm about market conditions within the state, a new University of Florida survey finds.
© 2008 FLORIDA ASSOCIATION OF REALTORS® - GAINESVILLE, Fla. – Oct. 21, 2008 ... READ MORE |
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| 09/03/08 What's the future of Short Sales |
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Imagine buying a house for much less than its market value only to discover you’ll incur an additional tax bite of hundreds or thousands of dollars.
Daily Business Review - September 03, 2008 - By: Terry Sheridan ... READ MORE |
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| 08/28/08 Would-be buyers find loans are out of reach |
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Lenders last year began making it much tougher for would-be buyers to get financing. Now, as buyers look to enter the market again, these lending challenges frustrate real estate agents and mortgage brokers, who say they're forcing financially sound, mostly middle-income buyers back onto the sidelines of the housing market.
Copyright © 2008 The Miami Herald, Monica Hatcher.
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| 07/22/08 Condo Meltdown - Condo Associations |
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Condo Meltdown - Desperate times call for desperate measures for condo associations
Daily Business Review - July 22, 2008 By: Paola Iuspa-Abbott ... READ MORE |
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| 06/17/08 Real estate firm eyes $1B investment in Florida |
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Real estate firm eyes $1B investment in Florida
A London company wants to buy luxury homes to hold for up to 10 years, expecting a big return.
Posted on Tue, Jun. 17, 2008 - BY SIMON PACKARD - Bloomberg News
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| 04/07/08 Brickell's draw: A feel of city life |
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| A showcase Miami neighborhood is humming with an infusion of urban life -- a growing skyline, new places to eat and mingle, and a vibrant street scene.
Posted on Sun, Apr. 06, 2008 - BY LYDIA MARTIN - Miami Herald ... READ MORE |
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| 03/17/08 South Florida bankruptcy lawyers' work grows |
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Bankruptcy used to be a tool for struggling homeowners to save their homes. now many owners simply want to turn over the keys to lenders.
BY PATRICK DANNER - Miami Herald - Posted on Mon, Mar. 17, 2008 ... READ MORE |
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| 03/06/08 Payment of credit card vs real estate mortgage |
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Across the nation, credit counselors are reporting the same trend: A growing number of people have started paying their credit card bills before - and sometimes instead of - their mortgages. That's a striking reversal from the norm, one that reflects rising desperation. It suggests that some people essentially have given up trying to stay current with their mortgages and instead are focused on using credit cards to squeak by.
Copyright © 2008 USA TODAY, a division of Gannett Co. Inc., Kathy Chu, with Venuri Siriwardane, contributing.
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| 02/07/08 Courts grapple with foreclosure avalanche in Miami |
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The Miami-Dade County Clerk of Court’s office is expanding the number of days it auctions properties from two to three per week, as more than a thousand foreclosed homes are waiting for the auction block in February. Lenders are buying back most of the properties, officials say.
The Miami Herald, Monica Hatcher. Posted February 7, 2008
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| 01/24/08 Miami developer bets on condos future |
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Condo builder Jorge Perez said South Florida real estate is undervalued and he's setting up a $1 billion fund to start buying properties.
BY MATTHEW HAGGMAN - Posted on Thu, Jan. 24, 2008 - Miami Herald ... READ MORE |
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| 01/09/08 Foreclosures strain condo buildings |
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As the region's housing market sputters into the new year, a collection of largely unoccupied new towers are straining under hundreds of millions of dollars in defaulted mortgages. In the 20 buildings in Miami-Dade and Broward counties with the largest numbers of units in foreclosure, loans in default totaled more than $271.8 million, according to an analysis...
Miami Herald - Wed, Jan. 09, 2008 - BY MONICA HATCHER ... READ MORE |
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| 12/03/07 Short sale can be alternative to foreclosure |
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Some lenders are softening to the plight of homeowners down on their luck, and behind on their mortgages. They're reducing monthly payments, modifying interest rates, and refinancing, all in an effort to keep people in their homes. But sometimes the only way to fend off foreclosure is the sale of the property -- and, more frequently, the ''short sale'' of the property.
BY MONICA HATCHER - Miami Herald - Posted on Sun, Dec. 02, 2007
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| 11/26/07 Miami urged to invest in condos for workers |
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The slowdown in South Florida condo sales has created a buyer's market that one elected official wants government to take advantage of.
Posted on Mon, Nov. 26, 2007 - Miami Herald - By Michael Vasquez
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| 11/05/07 Condo developers look to commercial uses |
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Plans called for six soaring condominium towers and more than 4,000 residential units with views of Biscayne Bay. But then the condo boom went bust. Now it's not new condos that Argent Ventures wants to build on the 11-acre site of the shuttered Omni International Mall in Miami, but scads of offices, a renamed hotel, new shops and restaurants.
BY MATTHEW HAGGMAN - Mon, Nov. 05, 2007 - Miami Herald ... READ MORE |
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| 11/05/07 Builder's plan for west of Biscayne: city within a city |
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A Boca Raton developer who won big selling his home-building business before the housing bust now has ambitious plans for Park West in downtown Miami.
BY MATTHEW HAGGMAN - Sun, Nov. 04, 2007 - Miami Herald ... READ MORE |
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| 11/02/07 Consumer spending in a statewide slump |
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Florida consumers are cutting back on spending across the board, as damage from the housing market decline spreads. For the first time in 15 years, state sales tax collections have declined for a 12-month period.
BY ELAINE WALKER - Miami Herald - Posted on Fri, Nov. 02, 2007 ... READ MORE |
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| 10/22/07 Commercial real estate market to slow in 2008 |
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More than 600 of the nation’s leading real estate experts expect the sizzling commercial real estate market in the U.S. to slow in 2008. The report cites three Florida cities among its smaller markets to watch: Orlando, Tampa and Jacksonville.
© 2007 FLORIDA ASSOCIATION OF REALTORS - NEW YORK – Oct. 19, 2007
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| 09/21/07 Going, Going, Gone - Miami Condo Auction |
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Miami had its first condo auction yesterday – 20 new units at Platinum Condominium, a 22-story, 199-unit tower. More than 300 people showed up...
Sept. 21, 2007, The Miami Herald, Jack Dolan ... READ MORE |
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| 09/20/07 Housing costs rising rapidly in South Florida |
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Renters are seeing their costs increase rapidly, according to just-released government inflation data from the Bureau of Labor Statistics. The Miami-Fort Lauderdale area cost for rent, mortgage payments and insurance had its highest annual increase in 25 years, for the second time in a row.
Copyright © 2007,The Miami Herald, Niala Boodhoo. Distributed by McClatchy-Tribune Information Services.
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| 08/31/07 Turmoil in mortgage market hits renters in the wallet |
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As the credit crunch shakes up the mortgage market, one group that’s suffering some severe collateral damage doesn’t own a home at all: renters.
Copyright 2007 USA TODAY - WASHINGTON – Aug. 31, 2007 ... READ MORE |
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| 08/22/07 Florida Real Estate Property Tax Reform |
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In January, Florida voters will consider amending the Florida Constitution to help correct existing problems in the collection of property taxes – a move FAR advocates. A just-released study by UF finds a 58 percent approval rating for the amendment today, which is only 2 percent below the number needed (60 percent) for passage.
© 2007 FLORIDA ASSOCIATION OF REALTORS® - GAINESVILLE, Fla. – Aug. 22, 2007
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| 08/03/07 County tax assessors say builder incentives increase property taxes |
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| If a builder gives away a $20,000 car to the buyer of a $300,000 home, should the actual value of the home – for property tax purposes – be reduced by $20,000 to $280,000? Two Florida county property appraisers think so. ... READ MORE |
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| 07/31/07 Florida foreclosures rise 77 percent |
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In Florida, the number of foreclosures is up 77 percent compared to the same six months last year, according to data firm RealtyTrac.
BY ALEX VEIGA - Associated Press - Posted on Tue, Jul. 31, 2007
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| 07/24/07 Where it's great to be a home buyer |
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A glut of homes for sale makes this a great time to be a buyer in Miami and other markets. Here's what some of these markets look like.
By Matt Woolsey, Forbes.com -
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| 07/13/07 Judge: Pre-construction contracts binding if you can pay |
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| Wealthy condo buyers eager to get out of pre-construction contracts signed during the recent real estate frenzy were dealt a blow this month by a Palm Beach County judge.
BY ALEXANDRA CLOUGH Palm Beach Post - Fri, Jul. 13, 2007
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| 07/10/07 Florida home sales to international buyers decrease 65 percent |
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In 2006, home sales to international buyers fell 65 percent compared to 2005 numbers, according to a Florida study conducted by NAR. Analysts blame “the exorbitant rise in property/hazard insurance costs and equally dramatic rise in property taxes” on top of higher mortgage rates during the prime homebuying season.
© 2007 FLORIDA ASSOCIATION OF REALTORS® - Orlando FL
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| 07/09/07 South Florida Foreclosure Auction Facts |
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Interested in investing in foreclosed properties? Here are a few tips from the pros plus an explanation of the process.
Miami Herald, The (FL)- 2007/07/08
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| 07/09/07 Foreclosure auctions still don't bring the deals expected |
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Although number of properties in foreclosure have skyrocketed most investors leave the auction room at the court empty handed.
Miami Herald - 2007/07/08 ... READ MORE |
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| 06/18/07 PROPERTY TAX REFORM: Tax-fix plan offers pains, gains |
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Legislators have put a tough choice in voters' hands: Cut taxes to save money, but risk cutting too much and possibly degrading local-government services.
Miami Herald, The (FL) 2007-06-17 - Marc Caputo
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| 05/10/07 South Florida rental market eases |
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While finding an apartment is still hardly stress-free, the sharp jumps in rental rates of recent years are finally starting to flatten out. There are now more vacancies.
BY ANGELA TABLAC - Posted on Wed, May. 09, 2007 - Miami Herald ... READ MORE |
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| 05/02/07 State passes renter fees bill |
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Renters could face steep fees if they break their lease agreement after state lawmakers passed legislation that would allow landlords to collect what critics called ``double rent.''
BY MONICA HATCHER - Posted on Wed, May. 02, 2007 - Miami Herald ... READ MORE |
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| 04/23/07 Insurance reform attracting new insurers to Florida |
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Florida’s scary property insurance market is becoming more welcoming to new insurers thanks to recent changes in laws that are helping them financially.
Copyright © 2007 The Bradenton Herald, Fla., Brian Neill. - TALLAHASSEE, Fla. – April 23, 2007 ... READ MORE |
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| 03/07/07 Real Estate Ad Bubble Could Burst |
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The real estate advertising bubble is about to burst for U.S. newspapers, several newspaper analysts say. The cycle appears to have peaked as major publishers – including Tribune Co., McClatchy Co. and Lee Enterprises – reported real estate ad declines in the high single digits starting in January.
Copyright 2007 by United Press International ... READ MORE |
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| 02/27/07 Real Estate Investment |
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Want to find a great real estate investment to sell in five or 10 years? Look where artists live now. Sociologists say that artists are often an early sign of neighborhood gentrification – the advance guard of what’s hip and cool.
Copyright © 2007 The McGraw-Hill Cos., Maya Roney.
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| 02/23/07 Building Material Costs Stabilize Easing Concerns About Real Estate Construction Costs |
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Supplies of key construction material stabilized or decreased within the past year, easing concerns about escalating costs for home builders and commercial-construction companies.
ORLANDO, Fla. – Feb. 21, 2007 –Copyright © 2007, The Orlando Sentinel, Fla., Jerry W. Jackson. Distributed by McClatchy-Tribune Business News.
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| 01/26/07 Florida’s existing home market in Dec. 2006: Sales down, median price softens |
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Sales of existing homes and condos in Florida were down in December; at the same time, many markets reported that the inventory of homes available for sale continued to stabilize while still low-mortgage rates sparked buyer interest.
Jan. 25, 2007 - 2007 FLORIDA ASSOCIATION OF REALTORS ... READ MORE |
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| 01/16/07 Study centers S. Dade growth around mass transit sites |
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A controversial growth-management plan would encourage development of town houses and low-rise condominiums along much of U.S. 1 in South Miami-Dade.
BY MATTHEW I. PINZUR AND YUDY PINEIRO - Miami Herald - Posted on Tue, Jan. 16, 2007 ... READ MORE |
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| 01/15/07 How about a college education with your new condo? |
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A slow market has developers offering everything from shopping sprees to new cars to vacations.
BY RICHARD WESTLUND - Miami Herald - Posted on Sun, Jan. 14, 2007 ... READ MORE |
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| 01/04/07 Commercial real estate looks good for 2007 |
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The bull market in commercial real estate made 2006 a record year, and many believe 2007 will be just as good.
NEW YORK – Jan. 3, 2007 - The Wall Street Journal, Ryan Chittum and Alex Frangos (01/02/07)
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| 12/24/06 Rental rates may moderate in '07 |
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Rents are set to continue rising in 2007, but "reversions" and the shadow market may slow the pace.
Miami Herald - BY MATTHEW HAGGMAN - Posted on Sun, Dec. 24, 2006 ... READ MORE |
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| 12/20/06 Pros and cons of flipping properties |
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Are you a real estate "flipper" or a "keeper"? Most home buyers are keepers, owning their houses and condos for five or more years. However, even as residential sales prices currently "stagnate" or "plateau" in most cities, according to the latest statistics from the National Association of Realtors and other sources, flippers continue to profit.
Robert J. Bruss - Posted on Sun, Dec. 17, 2006 ... READ MORE |
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| 12/06/06 UF study: Outlook for Florida real estate market not all bad |
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UF's fourth quarter survey of Florida real estate trends finds that things aren't all bad. More than half of the Florida real estate experts polled say it's a poor time to build single-family housing and condos, but they're more optimistic about all other types of property..
2006 FLORIDA ASSOCIATION OF REALTORS® - GAINESVILLE, Fla. – Dec. 6, 2006 ... READ MORE |
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| 12/03/06 Stadium would boost real estate market, business leaders say |
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Building a $420 million stadium for the Florida Marlins in downtown Miami might be the cure for the area's softening real estate market, business leaders said this week.
Miami Today - by Dan Dolan - week of November 30th, 2006 ... READ MORE |
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| 11/30/06 S. Florida home prices hit lowest level in year |
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Existing-home prices in South Florida dropped to the lowest level in more than a year in October. Condominium prices were mixed, and sales remain slow.
Miami Herald - Posted on Wed, Nov. 29, 2006 - BY MATTHEW HAGGMAN ... READ MORE |
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| 11/28/06 Building boom deals collapse in Miami-Dade |
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Amid a historic building boom, a slew of proposed projects are up for sale.
Miami Herald - Posted on Tue, Nov. 28, 2006 - MATTHEW HAGGMAN ... READ MORE |
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| 11/13/06 Most of us will survive housing downturn |
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What the housing slowdown means to you, if you're selling your home, is pretty clear. But what about the rest of us? Those who aren't in the real estate market have to be wondering what all those For Sale signs will mean.
Copyright © 2006, South Florida Sun-Sentinel - Harriet Johnson Brackey - Published November 12, 2006
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| 11/08/06 How deep housing's decline? |
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Remember those headlines about the U.S. housing slump possibly nearing an end, heralding a turnaround in 2007? Well, forget about it. Three of the major homebuilders just checked in with reports showing that they are decidedly not on board with that view.
Copyright © 2006 The McGraw-Hill Cos., Sonja Ryst. - WASHINGTON – Nov. 8, 2006 ... READ MORE |
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| 10/31/06 Desperate, home sellers try to build buzz |
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Amid a slow market for home sales, frustrated sellers increasingly are turning to auctions to hype the process as a way to move homes in a moribund market.
BY JEFF OSTROWSKI - HOUSING MARKET - The Palm Beach Post
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| 10/26/06 No end in sight to housing market slowdown |
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The numbers for existing homes released Wednesday paint a struggling picture of the market: Sales remain way down and prices are flat, frustrating buyers who want to break in.
BY MATTHEW HAGGMAN - Miami Herald - Posted on Thu, Oct. 26, 2006 ... READ MORE |
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| 10/24/06 Is housing out of the woods? |
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Depending on whom you ask, the winds may already be shifting for the housing market. All year, economists have warned of a bursting housing bubble and its potential impact on economic growth. However, a recent stream of encouraging data has some prominent prognosticators changing their tune.
Copyright © 2006 The McGraw-Hill Cos., Marc Hogan. All Rights reserved. - WASHINGTON -- Oct. 24, 2006
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| 10/16/06 Housing doomsayers ignore positives |
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With all the dismal reports about the home real estate market, don't lose track of something critically important: Mortgage interest rates have been falling quietly but steadily for weeks, and are now at their lowest level in half a year, barely a percentage point above 40-year lows.
WASHINGTON REPORT/KENNETH HARNEY - Posted on Sun, Oct. 15, 2006 ... READ MORE |
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| 10/06/06 Four tips for buying a house in a buyer's market |
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Now is a great time to buy a house. Prices are falling, and so are mortgage rates. Millions of houses are for sale, and sellers are getting anxious.
© 2006 Bankrate.com - Oct. 6, 2006 ... READ MORE |
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| 09/26/06 Hopeful glimmers in the housing slump |
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The median price of an existing home in the U.S. fell in August compared to the median price one year earlier, the first time that has happened in 11 years. Time to punch that pulsing-red panic button? Not yet. Because several other pieces of news in the NAR's monthly sales report were better than expected.
Copyright © 2006 The McGraw-Hill Cos., Peter Coy. All Rights reserved. -- WASHINGTON -- Sept. 26, 2006
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| 09/21/06 Soft market teaches flippers an ever-so-humble lesson |
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Investing in real estate looked so sexy. Like the tech-stock bubble that turned college kids and housewives into day traders, the real estate boom turned insurance brokers, doctors and bicycle mechanics into real estate flippers, who would buy and then quickly sell homes for easy profits.
© Copyright 2006 USA TODAY, a division of Gannett Co. Inc., Noelle Knox.
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| 09/21/06 Shaq takes on real estate market |
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Heat star Shaquille O'Neal has launched a real estate and development company called The O'Neal Group.
By Matthew Haggman - Miami Herald - Wed, Sep. 20, 2006 ... READ MORE |
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| 09/19/06 Determining values in a cooling market is not easy |
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| In cooling real estate markets, it's the hottest question: How do you value a specific piece of property when local home sales are down 20 percent to 40 percent from last year, inventories of unsold homes have ballooned by 200 percent or more, and all the trend lines are pointing negative?
© 2006 Miami Herald, Kenneth Harney. CHICAGO -- Sept. 18, 2006 ... READ MORE |
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| 09/11/06 Why NAR Expects Home Sales To Lift From Temporary Dip |
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It seemed like a painful defeat when the National Association of Realtors issued its projection last week that home sales would be lower than previously thought, but Chief Economist David Lereah worried months ago that housing would be in trouble if short-term interests rates were taken higher by the Federal Reserve. Luckily for housing, the FED decided to pause at 5.25 percent, but it may have been too little, too late, as Lereah feared.
Posted by Realty Times - Sep 11, 2006 ... READ MORE |
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| 09/01/06 Developer to revamp CocoWalk |
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A developer hopes to rejuvenate CocoWalk with a major renovation and by bringing in new tenants.
Miami Herald - Fri, Sep. 01, 2006 - By Elanie Walker ... READ MORE |
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| 08/23/06 Home sales down, condo prices down |
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Amid an ongoing housing market slowdown, home sales were down across South Florida in July.
Single-family home prices held steady but condominium prices in Miami-Dade weakened, dropping 11 percent in July compared to the same period a year ago.
Miami Herald - By MATTHEW HAGGMAN - Wed, Aug. 23, 2006 ... READ MORE |
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| 08/17/06 Home prices in Miami-Dade surpass those in Broward |
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For the first time in years, the median price of a house in Miami-Dade County is slightly higher than in Broward County, according to second-quarter figures released Tuesday by the Florida Association of Realtors.
Miami Today - Week of August 17, 2006 - By Charlotte Libov ... READ MORE |
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| 08/15/06 Generators - A Selling Tool |
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Real estate listings in storm-prone areas are starting to boast "built-in generator" as a perk alongside granite countertops and hardwood floors.
The Christian Science Monitor, Amy Green - 08/11/2006 ... READ MORE |
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| 08/10/06 Condo-hotel planned for South Beach's 'quiet' side |
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An apartment building on the west side of South Beach will be the new condo-hotel offering by the company that has Delano and the Shore Club on the ocean.
BY DOUGLAS HANKS - Wed, Aug. 09, 2006 - Miami Herald ... READ MORE |
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| 08/04/06 Middle-priced homes the buzz among builders |
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Amid a widening housing market slowdown, developers are starting to target one area where demand remains strong: middle-income housing.
BY MATTHEW HAGGMAN - Miami Herald - Posted on Fri, Aug. 04, 2006 ... READ MORE |
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| 07/31/06 Mood of our time favors home with open feeling |
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In this age of anxiety, people seek bright, airy homes that help them feel apart from the threatening world outside.
ELLEN JAMES MARTIN - Miami Herald - Posted on Sun, Jul. 30, 2006 ... READ MORE |
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| 07/31/06 Reduced home-sale commission may not be good move |
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The big drawback of reducing the commission rate is that many multiple listing service members will show a home with a low commission rate last to prospective buyers.
BY ROBERT J. BRUSS - Miami Herald - Posted on Sun, Jul. 30, 2006 ... READ MORE |
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| 07/24/06 Selling a house? The right agent is key to success |
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Homeowners should look for an agent who is locally based and has focused marketing plans.
A nurse in her mid-30s was planning her dream wedding to a computer specialist of the same age. Each owned a house, and their financial plans were predicated on the sale of her property, a small gray bungalow in an elegant city neighborhood with stately trees.
SMART MOVES/ELLEN JAMES MARTIN - Miami Herald Sun, Jul. 23, 2006
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| 07/20/06 NAR brochure aims to turn renters into homebuyers |
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WASHINGTON -- Too often, renters look at their current monthly rent payment, compare it to the cost of owning a home, and decide the latter is "something I can't afford." But the financial advantage of homeownership, from property appreciation to income tax deductions, makes renting more expensive, and a new brochure published by the National Association of Realtors® (NAR) explains that fact to renters.
© 2006 FLORIDA ASSOCIATION OF REALTORS®
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| 07/20/06 Homeowners pay 136% more in Fla |
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According to a recent report, Florida homeowners are paying premiums as much as 136 percent higher than consumers in other states for title insurance.
BY TOM ZUCCO - St. Petersburg Times
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| 07/17/06 Step right up and save on closing costs |
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ORLANDO, Fla. -- July 17, 2006 -- People will scramble to clip and use a $5 coupon at the supermarket or fill out and mail a long form for a $50 rebate on a new personal computer.
Yet most won't make a few calls that could save them hundreds of dollars on title insurance and other fees when they buy or refinance a house.
Copyright © 2006, The Orlando Sentinel, Fla., Richard Burnett.
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| 07/12/06 NAR: Home sales to stabilize in months ahead |
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WASHINGTON -- July 12, 2006 -- Home sales are projected to ease modestly but should stay within a relatively narrow range over the balance of the year, according to the National Association of Realtors® (NAR).
© 2006 FLORIDA ASSOCIATION OF REALTORS
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| 07/07/06 Nicky Hilton plans new hotel |
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Nicky Hilton will license her name to a South Beach hotel, establishing a new benchmark for hoteliers trying to leverage star power into higher room rates and profits.
The deal to rename the adjoining Breakwater and Edison hotels the ''Nicky O, a Nicky Hilton Hotel'' will thrust the fashion designer -- best-known as the kid sister to Simple Life star Paris Hilton -- into an industry pioneered by her great-grandfather, Conrad Hilton.
... READ MORE |
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| 07/07/06 Pending Home Sales Index levels out in May |
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| The index of pending home sales, a leading gauge for the housing sector, rose slightly in May -- an indication that the market is stabilizing, according to the National Association of Realtors®. ... READ MORE |
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