Author: Florida Real Estate News

In a surprising turn of events, several opulent mansions once owned by billionaires have been lost to foreclosure. This unprecedented situation highlights the vulnerability of even the wealthiest individuals to economic downturns and financial mismanagement. The properties, known for their extravagant features and prime locations, are now on the market, attracting attention from a different class of buyers. Key Takeaways Several high-value mansions previously owned by billionaires have entered foreclosure. The trend indicates that extreme wealth does not guarantee immunity from financial distress. These foreclosed luxury properties present unique investment opportunities. The Unforeseen Downfall The wave of foreclosures impacting billionaire-owned…

PMG is set to break ground on One Twenty Brickell Residences, a significant dual-tower luxury development in Miami’s Brickell district. The project, comprising 803 condominium and rental units, has secured a substantial $413 million in construction financing from an Ares Real Estate fund and Monarch Alternative Capital. This marks the largest loan transaction in South Florida this year, underscoring confidence in PMG’s ability to deliver high-end residential and commercial spaces. Key Takeaways $413 million in construction financing secured for One Twenty Brickell Residences. The development features 803 luxury condominium and rental units across two towers. Financing covers condominium, multifamily, commercial,…

Miami continues its reign as the premier U.S. market for foreign real estate investment and luxury home sales. The city is attracting significant capital from Latin America and beyond, fueled by a desire for wealth preservation, a stable dollar, and an attractive lifestyle. This influx is driving record-breaking sales, particularly in the high-end market. Key Takeaways Miami leads the U.S. in foreign real estate investment, with 15% of home purchases made by international buyers in 2025. Latin America, particularly Colombia and Argentina, is the primary source of foreign capital. South Florida recorded the second-highest number of $10 million+ home sales…

Oracle co-founder Larry Ellison is making a significant splash in South Florida’s luxury real estate market, investing $450 million in the exclusive town of Manalapan. His substantial property acquisitions, including a record-breaking estate and a prominent resort, are transforming the area into a magnet for the world’s wealthiest individuals, further solidifying Florida’s status as a prime destination for the ultra-rich. Key Takeaways Larry Ellison has invested $450 million in Manalapan, Florida, since 2022. His purchases include a $173 million estate and the $277 million Eau Palm Beach Resort & Spa. The investments are attracting other high-net-worth individuals to the area.…

Florida Realtors® is making significant strides in the real estate industry by rolling out updated forms and championing technological advancements. These initiatives aim to streamline transactions, enhance agent efficiency, and provide greater clarity for consumers in an ever-evolving market. Key Takeaways Form Updates: New and revised forms address MLS policy changes, current laws, and local requirements, with older versions retired. Tech Ecosystem: Florida Realtors® is recognized nationally for its in-house technology suite, including Form Simplicity, Tech Helpline, and Sabal Sign. International Collaboration: A new agreement with Japan-America Real Estate Coalition Office (JARECO) fosters global business opportunities. Member-Centric Approach: Technology development…

Florida Realtors have expanded their international reach by signing a strategic memorandum of understanding with the Japan-America Real Estate Coalition Office (JARECO), deepening business and professional ties just as new direct flights between Orlando and Tokyo are set to launch. The agreement reflects growing economic connectivity and a mutual ambition to boost real estate investment and cooperation between Florida and Japan. Key Takeaways Florida Realtors and Japan’s JARECO sign a cooperation agreement. Focus on professional development, data sharing, and cross-border business outreach. First-ever direct passenger flights between Orlando and Tokyo to begin soon. The timing coincides with Florida eliminating its…

Florida lawmakers are moving forward with proposals aimed at significantly reducing or phasing out non-school property taxes for homeowners. These measures, which require voter approval, aim to provide tax relief amidst rising housing costs, but concerns linger about potential impacts on local government funding and a possible shift in tax burdens. Key Takeaways A proposed constitutional amendment (HJR 203) seeks to phase out non-school homestead property taxes over a decade, requiring voter approval. Another proposal (HJR 213) aims to cap assessed value increases for homesteaded properties at 3% over three years and non-homestead properties at 15% over the same period.…

The home of prominent South Florida real estate entrepreneur Bobby Suarez, known for his "Sell to Bobby" commercials, was burglarized early Friday morning. While Suarez and his family slept, intruders gained access to his gated Palm Springs North residence, stealing a Porsche and other valuables. The incident has left the family feeling violated and unsafe. Key Takeaways Bobby Suarez, CEO of SelltoBobby.com, was the victim of a home invasion. The burglary occurred while Suarez and his family were asleep. A Porsche and other items were stolen. Suarez is offering a $50,000 reward for information leading to an arrest. The Overnight…

A new study from the University of Florida reveals a deepening rental crisis across Florida, with demand significantly outstripping supply. Rising rents, shrinking affordability, and increasing pressure on low-income households and seniors characterize the state’s rental landscape. The report highlights a critical need for both new construction and preservation of existing affordable housing stock to mitigate growing housing instability. Key Takeaways Florida’s rental demand is outpacing supply, leading to a 39% increase in median rent between 2019 and 2023. Nearly 905,000 low-income renter households are at high risk of housing instability, spending over 40% of their income on rent. Renters…

A Tampa-based real estate investment firm, RAD Diversified REIT Inc., is currently under investigation by Florida Attorney General James Uthmeier’s Office for alleged deceptive practices and a potential Ponzi scheme. Owners Brandon "Dutch" Mendenhall and Amy Vaughn are central to the probe, which stems from numerous investor complaints about missing funds and unfulfilled promises. Key Takeaways RAD Diversified REIT Inc. and its owners are being investigated for deceptive practices. Investors report millions of dollars in missing assets, with allegations of a Ponzi scheme. The Florida Attorney General’s Office has issued subpoenas for company documents. The SEC is also reportedly investigating…