Florida real estate agents file lawsuit to end CDC eviction moratorium
A large Florida real estate group is challenging a federal moratorium on tenant eviction during the COVID-19 pandemic. The Florida Realtors group filed a lawsuit Monday in federal court in Tampa that described the moratorium imposed by the federal Centers for Disease Control and Prevention as “an unprecedented and illegal federal administrative order.” The lawsuit argues that the CDC exceeded its legal authority by imposing the moratorium, which is due to expire on June 30. [Source: News Service of Florida]
A major source of funding for affordable housing in Florida cut in half
A major source of funding for affordable housing in Florida has been cut by 50%. But an expert in the field says there might be a silver lining. The State Affordable Housing Trust Fund (known in Tallahassee as the Sadowski Fund) covers items such as down payment assistance for first-time homebuyers, repairs to older homes and building affordable homes. A bill awaiting the governor’s signature would permanently reduce the amount of money sent to this fund. [Source: WEAR]
As hurricane season approaches, three insurers cancel thousands of customers in Florida
As another hurricane season hangs over the state, more than 50,000 home insurance customers in Florida will soon be receiving notices that their policies have been canceled or will not be renewed. National insurance regulators recently authorized the âextraordinaryâ termination of thousands of policies from Florida-based insurers Universal Insurance of North America, Gulfstream Property & Casualty and Southern Fidelity. And the bloodshed is likely to continue over the next few months, as other insurers look to forgo risky or unprofitable policies. [Source: South Florida Sun-Sentinel]
Can’t find a house to buy? More people are building instead
More and more people are choosing to build their own homes in South Florida, as bidding wars push prices out of sight and existing homes remain scarce. New home sales are up 113% from a year ago, according to Zonda Home, a real estate market research firm. It’s a change made worse by the COVID-19 pandemic, as a newly built home is seen as a simpler and less complicated option than buying an existing home. [Source: South Florida Sun-Sentinel]
There is a new goal among those hoping to preserve the history of the nearly century-old ‘Kellogg Mansion’ in Dunedin, and it looks like a compromise. The city’s historic preservation committee held an emergency meeting on Thursday to discuss what could be done regarding the house that once belonged to WK Kellogg, founder of Kellogg Cereals, at 129 Buena Vista Drive S. The house, which had been on the market for years and was listed at $ 4.59 million, remains under a sales contract with a Pinellas County doctor who plans to demolish it to make way for a new family home. [Source: Tampa Bay Times]
âº” Now it’s about the rise “: Buying a house in South Florida in the age of sea level rise
In South Florida, the main considerations for choosing a new home have changed, thanks to climate change. âBefore it was location, location, location. Now it’s about rise, rise, rise. The new buyer has to care about both, âsaid George Jalil, broker and president of Miami Way Realty.
âºSouthwest Florida Housing Market Sees Rise in Cash Paid Homes
An exorbitant number of people are paying cash to Florida homes, and we learned last month that at least 25% of homes sold in the state were all cash purchases. It’s great for sellers, but we’ve seen what it means for people who buy a home. Real estate broker Kelly Constantin said he’s seen homes selling for hundreds of thousands of dollars above asking prices. She has started scheduling screenings every 30 to 15 minutes, but the demand for homes is so high that they are just opening the house.
âºPunch Time Clock heir sells his beachfront estate in Palm Beach for $ 95 million
Edward G. Watkins sold his beachfront estate in Palm Beach for $ 95 million, marking the second most expensive sale this year in the posh city. Records show that the Goodrich Florida Realty Trust II sold the mansion at 1341 South Ocean Boulevard to 1341 South Ocean Boulevard Trust. The purchasing entity borrowed $ 60 million from Deutsche Bank Private Wealth Mortgage to finance the purchase.
âºMassey Properties to Launch Luxury Homes with Aircraft Hangars in Volusia County, Florida This Year
An Edgewater-based real estate company is moving towards expanding its airfield residential development. Massey Properties & Associates LLC plans to open by September 13 single-family homes with private sheds next to Massey Ranch Airpark in Edgewater, Massey Properties broker Bliss Jamison told the Orlando Business Journal. The construction would likely create jobs and subcontractor opportunities, while adding to the bustling residential sector of Volusia County’s air parks.
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