News
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In August, sales of residential properties in South Florida kept falling, as the growth of interest rates and property value prevented buyers from closing the deals. According to the Miami Association of Realtors that calculated the sales registered by Multiple Listing Services, the dollar value of transactions in Miami Dade, Broward, and Palm...
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Roger Pettingell is an agent specializing in high-end properties with over $2 billion in sales. Sarasota has been his home since he moved here in 1983. It is now one of the fastest-growing markets of upscale real estate across the country. Pettingell’s experience in this area made him the state’s leading real estate agent and his understanding of...
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Even the American billionaire and Republican Peter Thiel believes that the value of residential real estate and the rentals in Florida are unreasonably high. The businessman who moved to Miami Beach from the Silicon Valley warned conservatives that the rapidly growing prices of local properties make the Sunshine State more similar to California...
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The real estate industry of South Florida is booming, so new projects attracting investors and end users are regularly launched here. The following events in the local market made the hottest news last week. Dependable Equities is planning to build the tallest tower in Fort Lauderdale Dependable Equities presented the plans of building the...
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Visitors of the new terminal at the Orlando International Airport would be well advised to wear sunshades, sunscreen, and a wide-brimmed straw hat. The building will be designed in such a way as to soak it in sunlight coming through many skylights in high ceilings. As they see giant artificial palm trees and LED screens showing images of underwater...
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Both newcomers and born & bred Floridians with a moderate income have lately been facing numerous challenges when buying a home. One of the drivers exacerbating the situation was the recent increase of interest rates by the US Federal Reserve System in its efforts to curb inflation. According to the Mortgage Bankers Associations, the average...
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The amount of real estate purchased for cash might be reducing in some parts of the USA, but this practice is still flourishing in Florida. According to a recent report by the real estate firm Redfin, the greatest number of homes bought for cash was in Long Island: 66.5% of the total number of such transactions this July. West Palm Beach is in the...
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In August 2022, the growing amount of supply (active sale listings) and median prices were recorded in the Florida housing market compared to last year, according to recent data by Florida Realtors®. Inflation, higher mortgage rates, and other economic drivers are still affecting the sales, though. Christina Pappas, President of Florida Realtors...
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Peter Thiel is one of the first Facebook investors and a cofounder of PayPal, Founders Fund, and Palantir Technologies. He moved from the Silicon Valley to Miami Beach, Florida in late 2020 and purchased two neighboring oceanfront mansions there for $18 million. House prices and rental rates across the whole South Florida have grown significantly...
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In August 2022, the occupancy rate of hotels in Jacksonville, Florida, reached 71.6%, with the highest values in beach neighborhoods. The year-to-year growth is 74.5%. Please see data on occupancy rates across the whole Duval Country over that period compared to last year. Area% occupancy% change Arlington 76.1% -0.5% Beaches 76...
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