Author: Florida Real Estate News

The 2024-25 Palm Beach Season: Highlights and Challenges The 2024-25 Palm Beach season has officially wrapped up, bringing a year filled with excitement, challenges, and noteworthy developments, largely influenced by the return of Mar-a-Lago and its place in the national spotlight following President Donald Trump’s re-election. Economic Boom in Palm Beach Retail and Hospitality Thrive Record-breaking Sales: Retailers, restaurants, and hotels experienced a surge in business as visitors flocked to this sunny destination. Areas like Royal Poinciana Plaza and Worth Avenue were bustling with crowds and strong sales. Real Estate Surge: Although the real estate market saw a fruitful period…

Life in Crisis: The Struggles of Mobile Home Residents in Tampa Bay In the heart of Florida’s rapidly changing landscape, mobile home parks have become a refuge for many families grappling with the soaring costs of living. Yet, for some residents, this sanctuary has turned into a nightmare. This is the plight of families living in mobile home parks owned by Alden Global Capital, an investment firm that has raised concerns about its management practices and the conditions of these once-affordable communities. A Personal Story of Despair Jennifer Rivera Cruz and her wife, Dena Guzman, moved into Waterside Mobile Home…

Florida Housing Market: An Overview of Current Trends and Future Projections Inventory Surge: Empowering Buyers The Florida housing market has experienced a dramatic shift recently, largely influenced by rising mortgage rates that began in the summer of 2022. Historically limited inventory has changed course, with notable year-over-year inventory increases across major metropolitan areas in the state. As of early November, the inventory in the U.S. experienced a growth of 30%. However, Florida’s major cities have outpaced this average significantly: Miami: +46% Tampa: +68% Orlando: +66% Jacksonville: +49% This inventory boost has given buyers a stronger negotiating position, marking a significant…

FCP® Expands Presence in Florida: Acquires ARIUM Sunrise Multifamily Community CHEVY CHASE, Md. — March 4, 2025 – FCP® has taken a significant step in its growth strategy within Florida by acquiring the ARIUM Sunrise, a prominent 400-unit multifamily community located in Sunrise, FL. This acquisition, completed in collaboration with BMC Investments and The RMR Group, underscores FCP’s dedication to investing in high-growth markets and maximizing value in strategically situated properties. Strategic Importance of Broward County Broward County is recognized as one of Florida’s fastest-growing regions, and FCP is keenly aware of the dynamics at play. Bruce Gago, Senior Vice…

South Florida’s Luxury Real Estate Market: A Surge Above $100 Million The South Florida real estate market is experiencing a remarkable boom, particularly in the luxury sector, as listings above $100 million continue to emerge in Miami-Dade and Palm Beach counties. This surge is largely driven by ultra-wealthy buyers seeking extravagant properties in a market characterized by its enticing blend of favorable taxes and luxurious living. High-End Homes Take Center Stage Among the most exquisite properties available is the Banyan Ridge Estate located in Coconut Grove, boasting 11,855 square feet and listed for an astounding $135 million. Not far behind…

Florida Home Prices Soar Triggering Outflow of Residents to Other States Florida’s real estate market is facing a significant crisis as home prices, homeowner association (HOA) fees, and insurance costs soar to unprecedented levels. This surge is driving many residents to consider relocating to more affordable regions, reversing the state’s previous reputation as a prime destination for retirees and cost-conscious individuals seeking a relaxed lifestyle. Florida’s Real Estate Boom and Sudden Downturn Not long ago, Florida was celebrated as a promised paradise, boasting: Low taxes Picturesque beaches and warm weather year-round Vibrant entertainment options An affordable, relaxed lifestyle This message…

Miami-Dade County to Factor Climate Change into Property Assessments Tomás Regalado, the newly elected property appraiser of Miami-Dade County, aims to revamp property assessments by incorporating climate change data. His initiative reflects a growing concern about the implications of rising sea levels, increased flooding, and other climate-related challenges affecting home values. Climate Change and Property Values Regalado, who previously served as the mayor of Miami from 2009 to 2017, emphasizes the need for property assessments to align with current realities. "It’s time to recognize that climate change is real and influencing our lives," he stated. The underlying aim of this…

Brookfield Properties Selected for Margate City Center Redevelopment After a previous attempt failed in 2016, Margate City has made a significant decision to revitalize its downtown by choosing Brookfield Properties as the new development partner for its City Center project. Key Highlights of the Selection Process Decision Timeline: The Margate Community Redevelopment Agency, in a tightly contested vote of 3-2, selected Brookfield Properties over other notable firms including Coconut Grove’s The Related Group and New Jersey’s The Michaels Organization. Location and Scope: The development will take place on 51 acres of city-owned land at the intersection of Margate Boulevard and…

Bob Vila and Diana Barrett Slash Price of Their Everglades Island Home to $35.9 Million America’s beloved handyman, Bob Vila, known for his legendary show This Old House, and his wife, Diana Barrett, have recently made headlines by reducing the asking price of their stunning Everglades Island residence by $4 million. The property has now been listed at $35.9 million, a notable decrease from its original price of $52.9 million when it first hit the market in November 2023. Key Features of the Property Located at 690 Island Drive, this luxurious lakefront estate boasts the following features: Size: 7,621 square…

Innovative Property Tax Relief for Florida Homeowners Facing Rising Insurance Costs Hillsborough County Property Appraiser Bob Henriquez has introduced a groundbreaking initiative aimed at alleviating the financial burden of property insurance on Floridians. As homeowners across Florida grapple with skyrocketing property insurance costs due to frequent hurricanes, Henriquez’s proposal could provide much-needed relief. The Property Insurance Crisis in Florida Floridians are currently facing a severe crisis related to property insurance. Many homeowners have witnessed their insurance premiums double or even triple in recent years, forcing some to turn to Citizens Property Insurance, the state’s insurer of last resort. Key Issues:…