real estate

Miami Herald

Florida remains one of the states with the highest foreclosure rate, according to a new report from real estate firm RealtyTrac. The Sunshine State has four of the five metro areas with the highest foreclosure rates: Tampa, Lakeland, Jacksonville and Ocala.

But compared to last year, foreclosures are down and, according to Daren Blomquist, VP at RealtyTrac, a lot of the bad loans that led the nation into the housing crisis are cycling out of the system.

The Miami Herald

Last week, Gov. Rick Scott signed into law a bill protecting tenants living in foreclosed homes. The law was passed unanimously by both houses and takes effect immediately.

Renters living in foreclosed homes had previously been protected by a federal law that gave them 90 days or until the end of their lease to move out. But that law expired December 31. Without any comparable state law in place, Florida’s tenants were left with few legal remedies.

Today on WLRN-Miami Herald News, you heard:

South Florida Ranks Fifth For Unaffordable Housing

Mar 31, 2015
Jessica Meszaros / WLRN

A new report from Realtor.com, an online real estate service provider, ranks South Florida fifth for unaffordable housing in the nation. It’s just below New York, Los Angeles, San Diego and San Francisco, which tops the list. 

Today on WLRN-Miami Herald News, you heard:

Flickr user Images Money per Creative Commons License: https://creativecommons.org/licenses/by/2.0/

The majority of Florida home purchases were cash transactions in June. That’s according to a new report from California-based real estate analysis company CoreLogic.

Mark Fleming, chief economist at CoreLogic, says the recession and housing bust have resulted in a spike of cash buyers.

“Either because they don’t want to have the mortgage debt burden or, in many cases can’t qualify for mortgage loans,” Fleming says.

Flickr user Mr. Usaji per Creative Commons license: https://creativecommons.org/licenses/by/2.0/

One of the most expensive property sales in South Florida history is in the works on South Beach. Six properties -- currently held by the Terranova Corporation and Acadia Realty Trust -- along Lincoln Road are expected to sell for $342 million.

The properties' current occupants are Starbucks, Armani Jeans, Fossil and the Khong River House restaurant.

As the Miami Herald reports:

Sean Bonini/flickr

Florida’s recession could have been worse if not for homebuyers from other countries. 

The nonprofit government watchdog group Florida TaxWatch says international buyers bought up cheap properties and pumped cash into the state’s economy.

The buyers were mainly from Canada, Latin America and Europe – all regular trading partners of the U.S.

Creative Commons via WikiCommons / Illustration by Wilson Sayre

UPDATE 6/2/2014: The City of Pembrook Pines has won their bid for the empty prison. Mayor Frank Ortis says the City wanted to control what happened with the land which is not far from houses that fall within city limits.

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A 66-acre plot of land off Sheridan Street has excellent security features, and it will soon be on the market. The Broward County Correctional Institution, a former women’s prison, is being sold off by the state.

Wilson Sayre

Art Basel satellite fairs are having a harder time setting up shop in Wynwood and Midtown as the area becomes an established, year-round neighborhood.

Owners of vacant lots and empty buildings tend to prefer long-term leases to short-term ones, which is what many of the Basel fairs rely on. When Lock and Load Machine Gun Experience and Gun Range moved into one of those formerly vacant buildings, it forced Fountain Art Fair to look for alternative spaces.

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