Florida Trend Real Estate
By Google News Category Property ·
A weekly alert that contains in-depth news, information, insight and analysis on the most critical real estate related issues and topics facing Florida.
New Florida property-tax cut may bring an unwanted side effect
Floridaâs newly approved property-tax cut is designed to make homes more affordable. But it could also push up another punishing cost of homeownership: insurance. Homes in the Sunshine State are already among the most costly to insure in the US because of their exposure to hurricanes, floods and other natural hazards, risks that are being compounded by climate change.
Floridaâs property taxes, although rising fast, are less exceptional: The mean effective rate on owner-occupied homes ranks 27th among states. More from Insurance Journaloiiiiop and Bloomberg. See also: » Florida just approved a major property tax break, but new residents face a catch
Few homeowners will be spared from rising climate-driven housing costs
Growing economic burdens due to climate change are increasingly playing a role in where people can afford to buy homes and where companies can afford to do business, with disruptions to the property and casualty insurance market bearing clear evidence of that trend.
Once a box-checking exercise in mortgage qualification, a borrowerâs ability to afford homeowners insurance has now become a question that lenders and originators are asking from the get-go. Homeowners insurance accounted for almost 10% of the typical monthly mortgage payment at the end of the second quarter, according to ICE Mortgage Technology. [Source: Scotsman Guide]
Floridaâs buyer-friendly market: What new agents need to know
More sellers than buyers usually means more negotiating room, because the buyer has alternatives. It does not mean every seller will cut the price. A well-priced home in good condition can still draw a serious offer. An overpriced home next to several similar listings gives the buyer a reason to negotiate. New agents have to tell those two situations apart.
Buyer leverage is not a blank check on every property. [Source: Miami Herald]
The hottest new job perk is helping employees buy a house
Employee benefits, like employer-covered healthcare, retirement plans, and student loan debt relief, are a tried-and-true way to recruit and retain talented employees. As it becomes increasingly difficult to own a home in the current market, some employers are offering housing benefits as a new way to win prospective employees' hearts. [Source: Business Observer]
Why British investors are flocking to South Florida real estate
Political uncertainty in the United Kingdom, a favourable exchange rate, and South Floridaâs enduring appeal as a place to live and invest have converged to create a compelling opportunity for British buyers.
From Miamiâs gleaming condo towers to Palm Beachâs exclusive estates, London-based investors are increasingly looking across the Atlantic for stability, returns, and sunshine. [Source: London Loves Business]
⺠Industrial developments rising in Lake County as need for flex space spurs new projects [Orlando Sentinel] As Lake County continues to grow â and the areaâs real estate market grows around it â several industrial developments have been planned or begun construction in recent months.
While there are dozens of residential projects set to rise within Lake County over the next few years, the countyâs need for industrial space, particularly flex industrial space, is…
Originally published by Google News Category Property
