Author: Florida Real Estate News

Florida Governor Ron DeSantis is spearheading a significant initiative to eliminate property taxes for primary residences in the state. This ambitious plan, which requires voter approval in 2026, aims to make Florida the first state with no state income tax and no property taxes on homesteaded properties. The proposal has ignited a robust debate among residents, real estate professionals, and economists regarding its potential economic and social impacts. Key Takeaways Phased Approach: The elimination of property taxes is envisioned as a phased approach, acknowledging potential fiscal challenges. Voter Approval Required: The proposal must secure 60% of the vote in the…

Florida is confronting a concerning rise in child drowning deaths with a new legislative push. Three Senate bills, championed by Sen. Carlos Guillermo Smith, aim to enhance safety measures for residential pools and vacation rentals, alongside a focus on drowning prevention education for new parents. This initiative comes as the state has already seen 112 child drownings this year, a figure that tragically outpaces last year’s numbers. Key Takeaways Three Florida Senate bills propose new safety regulations for residential pools, vacation rentals, and drowning education. The legislation aims to reduce the alarming increase in child drowning deaths across the state.…

Savvy investors are setting their sights on the burgeoning housing markets of Florida and Texas, anticipating strong returns and steady appreciation in 2026. Driven by robust job growth, favorable tax environments, and a continuous influx of new residents, these Sun Belt states are proving resilient amidst national market shifts. The focus is on strategic investments in cities offering a balance of affordability, economic vitality, and quality of life. Key Takeaways Dallas and San Antonio in Texas, alongside Jacksonville, Cape Coral, and Port St. Lucie in Florida, are identified as prime targets for real estate investors in 2026. The Sun Belt’s…

The South Florida real estate market is anticipating a notable transformation in 2026. After a period of rapid growth, experts predict a cooling luxury market, potential price corrections in certain areas, and a renewed focus on unique amenities and buyer value. This shift presents both challenges and opportunities for buyers, sellers, and developers alike. Key Takeaways Luxury market tipping in favor of buyers due to oversupply. Potential for price corrections in several Florida housing markets. Increased demand for branded residences and wellness-focused amenities. Buyers are becoming more discerning and risk-averse. A rebound is anticipated, driven by stabilizing mortgage rates and…

Gencom, a prominent real estate investment firm, has announced the reacquisition of a majority interest in The Ritz-Carlton Coconut Grove in Miami. This strategic move marks a return for Gencom, which originally co-owned the luxury hotel before selling a majority stake in 2017. The transaction was financed by Banco Inbursa. Key Takeaways Gencom affiliates have reacquired a majority interest in The Ritz-Carlton Coconut Grove. The hotel, located at 3300 SW 27th Ave. in Miami, features 115 keys and extensive amenities. The acquisition aligns with Gencom’s strategy of investing in high-quality assets in strong markets. Financing for the undisclosed transaction was…

A sprawling ocean-to-lake estate in Manalapan, Florida, reportedly linked to Fox News host Sean Hannity, has hit the market for $44.9 million. The property, which includes furnishings, boasts extensive waterfrontage on both the Intracoastal Waterway and the Atlantic Ocean. Key Takeaways An eight-bedroom estate in Manalapan, Florida, is listed for $44.9 million. The property is linked to Fox News host Sean Hannity through a trust. The estate features 150 feet of frontage on the Intracoastal Waterway and 150 feet of oceanfront. Hannity recently consolidated two Palm Beach townhouses into a single residence. A Lavish Coastal Property The Mediterranean-style estate, built…

Broward County is at a critical juncture as proposed state-level property tax reforms threaten to dramatically impact municipal revenues. Governor Ron DeSantis has championed significant property tax reductions, aiming to provide relief to homeowners. However, a new report highlights the potential "dramatic erosion of municipal revenue" in Broward, raising concerns about the sustainability of essential local services. Key Takeaways Proposed property tax reforms in Florida could significantly reduce municipal funding in Broward County. Property taxes are the primary revenue source for local governments, funding essential services like public safety. Various legislative proposals aim to cut property taxes, with differing impacts…

Prospective homebuyers in Florida are increasingly backing out of purchase agreements, a trend mirrored across the United States. This phenomenon is particularly pronounced in the Sunshine State, where a growing inventory of new homes and persistent economic anxieties are leading many buyers to reconsider their commitments. The rising cost of homeownership, driven by soaring insurance premiums and fluctuating interest rates, is also a significant factor contributing to this market shift. Key Takeaways Nationally, 15.1% of home-purchase agreements were canceled in October, an increase from the previous year. Several Florida metropolitan areas, including Fort Lauderdale, Miami, Orlando, and Jacksonville, experienced higher…

The Florida State Board of Administration (SBA) has significantly boosted the real estate sector, committing a substantial $1.57 billion in the second quarter. This robust investment underscores the state’s confidence in the real estate market’s potential for growth and returns. Key Takeaways Florida SBA allocated $1.57 billion to real estate investments in Q2. Recent transactions totaling $365.4 million involved major investment managers like Invesco Real Estate, Heitman, and MetLife. Investments spanned various property types, including apartments, student housing, single-family rentals, logistics centers, medical offices, and retail. Diverse Real Estate Portfolio Expansion The Florida SBA’s recent real estate activities reveal a…

Television personality Sean Hannity has secured a significant piece of Florida real estate, purchasing a sprawling oceanfront estate in Manalapan for a record-breaking $44.9 million. The transaction, which took place last year, marks the most expensive home sale ever recorded in the exclusive enclave located just south of Palm Beach. Key Takeaways Sean Hannity purchased an oceanfront estate in Manalapan, Florida. The sale price of $44.9 million sets a new record for Manalapan. The property boasts over 20,000 square feet and extends from the ocean to the Intracoastal Waterway. A Lavish New Residence The newly acquired property is an impressive…