Neighborhoods are changing as more investors are buying distressed single-family homes to rent. Investors from large institutions started buying single-family homes in Palm Beach a year ago. Wall Street hedge funds and other large institutional investors started buying up single-family homes in foreclosure in Palm Beach County about a year ago, according to the Post. […]
Haute Living announced that the founder of One Sotheby’s, Mayi de la Vega and her son Daniel will be brokering some of the biggest real estate transactions in Florida. The company started in 2008 and now has 8 offices with 300 agents. Daniel, who is now 30 years old, has 12 years of experience in […]
A complete transformation has happened. Two years ago, buyers were holding back since prices were still falling, and now there is earnestness to buy. As South Florida’s housing inventory diminish, it ignites a bidding war among builders and a quick rise in construction costs and home prices.
The ability-to-repay rule will take effect next year. This will stop lenders from offering loans to borrowers who would not be rationally able to make repayments. Before, creditors offered no-income-verification,interest-only and other creative loans that allowed for little or no money down though it led to higher monthly repayments. Now, banks have become more restraint […]
Fidelity Land Trust and affiliate companies deceived homeowners in a foreclosure rescue scheme, urging them to file lawsuits following a state attorney general complaint. It says the land trusts deceived hundreds of property owners statewide and they continued to have money withdrawn from their bank accounts despite a restriction that froze Fidelity Land Trust’s assets […]
Miami’s Sabadell Bank building was bought by Prudential Real Estate Investors for $184 million. It is a 30-story, 525,000-sq. ft. building, at 1111 Brickell Avenue – last sold in 2002 for $132 million. It is one of the most important commercial office building transactions in South Florida in recent years.
For the decade, residents have tried to turn the 153 acre site at 6133 Jupiter Farms Road into a middle school. It had been a hideout for gangsters what they call a film studio. Unfortunately, Palm Beach County School is planning to sell it to K. Hovnanian who plans to build a high-end residential development, […]
Located at 1050 Washington Avenue in Miami Beach, the earlier Wyndham Garden Hotel Miami South Beach was bought for $25.5 million. The five-building property containing 133 rooms, a restaurant, terrace, bar, and a large pool deck was purchased by Witkoff Group from Majestic Organization. This hotel is still under the protection of the Miami Beach […]
Yearly, greater Miami area rents on single-family homes in the rose 2.8% in March. It is very small compared to the 12% rise in the market prices for single-family homes for sale. This suggests that investors are purchasing homes to lease them out and have added to the supply, causing price gains to slow. In […]
A vote to push for the historic title of the confused 42-star island home belonging to a star of the “Real Housewives of Miami” and her plastic surgeon husband was performed. This vote was courtesy of the Miami Beach Historic Preservation Board. This will complete a report of the house’s historic value that will block […]