Author: Florida Real Estate News

Prime Real Estate in Palm Beach: House Listed in Mar-a-Lago Security Zone Introduction to 112 Algoma Road The picturesque 112 Algoma Road, located in the exclusive Mar-a-Lago security zone, has recently hit the market. Priced at $12.5 million, this property is attracting attention not only for its potential as a luxury home but also as a promising tear-down opportunity. Key Features of the Property Overview Location: 112 Algoma Road, Palm Beach Price: $12.5 million Type: Single-family home and land potential Size: 2,930 square feet Lot: Approximately one-third of an acre Construction Year: 1952 Bedrooms: 4 Additional Features: Swimming pool and…

Navigating Florida’s Property Tax Rates: What Retirees Should Know Introduction to Florida Retirement Taxation Florida is a well-known haven for retirees, primarily because it has no state income tax. However, future homeowners should be cautious, as property taxes can significantly impact long-term financial plans. Understanding the landscape of property tax rates across Florida counties is essential for anyone considering retirement in the Sunshine State. With a statewide average property tax rate of 17.0133, it is crucial to grasp how this millage rate translates into realistic costs for different housing values. For instance, if a home is assessed at $300,000, the…

Florida’s Diverse Landscape: Economic Resilience Amid Challenges Can Florida’s Real Estate Market Moderate Without Breaking? Florida’s commercial real estate landscape stands as a stark contrast to cities like San Francisco, Chicago, and New York, which have suffered significant declines in office space values due to changing workplace dynamics and economic conditions. Many businesses are now adopting hybrid work models, leading to increased vacancies and problematic refinancing due to rising interest rates. Key Factors in Florida’s Real Estate Stability Population Growth: The strength of Florida’s property market is significantly underpinned by a growing population. Shifts in Growth Sources: While the influx…

Embracing Entertaining: The Transformation of a Naples Beach House Discover the art of hosting in style with this stunning Naples, Florida beach house, meticulously transformed by designer Kelly Hurliman. Featuring vibrant aesthetics and an intention for grand gatherings, this residence speaks volumes about its owner, Dawn McKenna, a Chicago-based real estate advisor. A Statement of Style: The Living Room At the heart of this renovation is a 17-foot vintage sectional sofa, wrapped in a crowd-friendly white performance fabric—ideal for welcoming up to ten guests comfortably. The living room is designed for impactful entertaining, ensuring that the space feels both luxurious…

Sanibel Island’s Housing Market Faces Major Shift After Hurricane Ian: What Buyers and Sellers Need to Know Located off Florida’s southwest coast, Sanibel Island has long been a treasured retirement and vacation destination known for its pristine beaches and tranquil environment. However, nearly three years after Hurricane Ian’s devastating impact in September 2022, the island is witnessing a dramatic surge in housing inventory while home sales are declining sharply. This shift reflects wider trends shaped by rising housing costs, insurance premiums, and increasing climate risks affecting Florida’s coastal real estate markets. The Lasting Impact of Hurricane Ian on Sanibel Island…

Hillsborough Officials Decide the Fate of the Cross Bay Ferry Service TAMPA, Fla. – On Wednesday, Hillsborough County commissioners made a significant decision regarding the future of the Cross Bay Ferry service. The board voted unanimously (6-0) to end the contract with HMS Ferries, the operator of the ferry since its inception in 2017, due to contract violations. Commissioner Joshua Wostal was the only member absent during the vote. Contract Termination Details Effective Date: HMS Ferries will cease operations on April 30—six months earlier than initially planned. Reason for Termination: Hillsborough County officials accused HMS Ferries of defaulting on contract…

South Florida Real Estate: Demand Outpacing Supply Overview of South Florida’s Housing Market South Florida’s real estate landscape continues to be characterized by a persistent demand for homes amidst a shortage of inventory. According to Eddie Blanco, the 2025 Chairman of MIAMI, "Wealth migration to Miami remains high. Buyers from high-taxed, high-density states continue to relocate here for our jobs, weather, and lifestyle." As a result, real estate prices have risen for nearly 14 consecutive years, and the region leads the nation in cash transactions. Key Rankings Highlighting Market Strength Three recent rankings demonstrate South Florida’s thriving housing fundamentals: All-Cash…

Renting vs. Buying: The South Florida Housing Market in 2025 The Housing Dilemma in South Florida As we approach 2025, one of the hottest topics in South Florida is whether to rent or buy a home. In a market fueled by high demand and low inventory, prospective buyers are feeling the pressure. The Struggles of First-Time Homebuyers Take the case of Justin Westerfeld and Daniella Gainza, high school sweethearts who recently got engaged. The couple is on a mission to find their first home amidst the chaotic South Florida housing landscape. “We’ve probably looked at 15 houses. Some were single-family…

Current Housing Market Landscape: Sellers Outnumber Buyers As we analyze the current U.S. housing market, a significant shift has been observed: there are now 33.7% more home sellers than buyers. This marks an unprecedented moment in real estate history, with such a disparity not seen since records began in 2013. Consequently, it’s officially a buyer’s market. Home Prices Expected to Decline According to Redfin, home prices are anticipated to decrease by 1% by the end of 2025, largely driven by this imbalance between sellers and buyers. For prospective buyers, this situation may enhance buying power, while sellers might benefit from…

Beware: 5 Florida Cities to Avoid Buying Property in the Next 5 Years Florida, known for its stunning beaches and welcoming weather, attracts over 140 million tourists annually. With its sunny climate and lack of state income tax, many are drawn to the idea of purchasing a property in the Sunshine State. However, real estate experts urge potential buyers to tread carefully. The Florida Real Estate Landscape Investing in real estate requires more than just an appreciation for palm trees and ocean views. According to Yawar Charlie, a senior real estate agent and director of the Aaron Kirman Group, buyers…