When will that $25 billion get to renters and landlords? | Florida Trend Real Estate – Florida Trend
When will that $ 25 billion come to tenants and landlords?
Tenants and landlords, counting on access to the $ 25 billion in rental support money, can do little right now but wait for the red tape to slowly move forward. The money will come here. It’s just a matter of when. Of the $ 25 billion, Florida is expected to receive $ 1.4 billion, according to estimates by the National Low Income Housing Coalition. That would pay off overdue rental balances of $ 6,000 each for more than 200,000 Florida households. [Source: South Florida Sun-Sentinel]
It’s cheaper to buy a house than rent it here, as studies show
According to a recent study by the real estate investment firm Roofstock, the average Florida mortgage payment for a home at average price is lower than renting it. This is especially true for the Punta Gorda and North Port-Sarasota-Bradenton metro areas. Analyzing the latest data from the US Census Bureau, the Department of Housing and Urban Development, and von Zillow, Roofstock found that Florida has the 14th highest rental-to-price ratio at 6.6%, meaning it would be more affordable to buy House instead of rent in our state. [Source: Port Charlotte Sun]
What you need to know about moving to Florida
White sand beaches and tax incentives make people turn to the Sunshine State. And not only the traditional retirees – also remote workers who are far from retired are considering moving. Because if you have to distance yourself socially, you might as well have mild winters to keep company, right? But why Florida? [Source: Bloomberg Tax]
Pent-up optimism in the Gulf Coast commercial real estate industry
After a year in which Gulf Coast commercial property values have plummeted in some sectors, transactions have been suspended, occupancy has declined in a few quarters, and rental income has lagged, industry participants claim 2021 will see a significant rebound. Although much of the optimism rests on a relatively quick and effective distribution of COVID-19 vaccines that will take months, industry watchers expect the second half of the year to rebound. [Source: Business Observer]
Related Cos. Expands its South Florida real estate portfolio by acquiring an office tower that is renting outposts from Morgan Stanley and other financial firms. A Related subsidiary has agreed to pay $ 282 million to purchase the Phillips Point building in West Palm Beach from AEW Capital Management, according to people familiar with the purchase who asked not to be named because the matter is private. [Source: Crain’s New York]
STAT OF THE WEEK
According to the 2020 Top 50 Master Planned Communities of RCLCO Real Estate Advisors report, Nocatee was the 8th best-selling Master-Planed Community in the country in 2020. According to the report, 925 homes were sold in the parish last year, up from 909 in 2019. [Source: Jacksonville Daily Record]
›The Miami Beach mansion in the sky has a private rooftop pool for $ 14.9 million
A two-story penthouse in Miami Beach with over 10,000 square feet of indoor and outdoor space went on sale for $ 14.9 million – and it even has its own rooftop pool. The PH-3 unit at 3737 Collins Ave. is located on the 19th floor of the Caribbean, a 103-unit boutique oceanfront building in the Faena District of Miami Beach that features a pool, exercise room, concierge, and valet parking.
›Here are the 25 most expensive Tampa Bay homes to sell in 2020
The coronavirus pandemic shattered many norms in 2020, but it hasn’t stopped the luxury real estate market from moving forward as the rich sought new places to retreat from the Florida sun and demand remained high. Compared to 2019, a banner year for ultra-expensive waterfront properties of $ 10 million and up – with the No. 1 sale of $ 16.5 million – this year’s top residential property sale was 9.3 Million dollars a bargain.
›The Louisiana-based real estate company is expanding into a popular Florida tourist destination
One of the top-selling real estate companies in Louisiana announced it is opening its first out of state location in a popular tourist destination this month. Beau Box Commercial Real Estate (BBCRE) will expand its reach in Florida with an office in Pensacola.
›Lennar pays $ 8 million for the South Miami-Dade community
Lennar Homes paid $ 7.7 million for about 30 acres south of the Miami Zoo. The Miami-based contractor purchased the property on and around 13400 Eureka Drive in South Miami-Dade, according to records. The seller is a company and trust associated with the Caple family. The late Patriarch George Caple founded the agricultural nursery Caple Farms and, according to his obituary in 2007, expanded it to over 100 hectares of flowering plants with a fleet of 50 trucks and more than 250 employees.
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