Tag Archives: Buying better than renting

Developer refinances industrial properties

McCraney Property Co. of West Palm Beach said it secured a $65 million loan from BankUnited to refinance industrial properties across Florida.

Among the properties that will be refinanced are Vista Business Center and Belvedere Business Park, both in West Palm Beach.

BankUnited also provided partial financing for McCraney’s acquisition of 78 acres in Plant City, near Tampa. The company is building a business park there.

McCraney says it has developed about 5 million square feet of industrial space. It’s considered “speculative” development because it’s built without signed leases from tenants.

Downtown Miami condo market solid, report shows

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Amid a strengthening dollar and shaky economies across the world, Downtown Miami has stood its ground.

A report released Thursday by the Miami Downtown Development Authority that tracked the period between January 2015 and January 2016 outlined a shift in transactions across the downtown condominium market, suggesting that the days of risky financing are over.

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As wealthy Brazilians snap up Miami real estate, few benefit

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Facing a teetering economy at home, wealthy Brazilians have been pouring money into what they increasingly see as the safest place to invest: South Florida real estate.

So are Argentinians, Colombians, Mexicans, Venezuelans, French and Turks — almost anyone with money to shelter, a direct flight to Miami and a shaky economy to flee.

Their cash has helped drive the latest twist in Miami’s ever-evolving transformation — from a 19th century rail stop to a tourist-and-retiree hub to a haven for Cuban refugees to now a harbor for global investors. No American skyline has undergone a more drastic face-lift from foreign cash in the past decade: Luxury condo towers and swanky retailers crowd a downtown once marred by empty lots.

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Do you want to know about Broward County Florida Real Estate statistics for Single Family Homes for September 2015?

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Buying a home cheaper than renting, but the gap narrows

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Young professionals are better off buying a home than renting one, but it’s not nearly the deal it was three years ago.

Buying is 44 percent cheaper than renting in Broward County, according to Trulia.com, a real estate website. That’s tied with Syracuse, N.Y., for the nation’s third-highest difference, after Houston (46 percent) and Baton Rouge, La. (45).

In 2012, with home prices rebounding from the bottom, buying beat renting in Broward by 56 percent.

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Do you want to know about Broward County Florida Real Estate statistics for TownHouses and Condos for August 2015?

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South Florida housing market gets favorable rating from Freddie Mac

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South Florida’s housing market continues to inch higher on a national index released by mortgage company Freddie Mac.

The tri-county region of Palm Beach, Broward and Miami-Dade counties scored 83.7 in July on Freddie’s Multi-Indicator Market Index, up 14 percent from a year ago.

The index measures housing markets across the country by tracking home loan applications, affordability, mortgage loan delinquencies and employment. A composite score of at least 80 is considered favorable or stable. A perfect score is 100.

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Lack of land hampers housing starts

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Broward County housing starts increased in the second quarter, though home construction remains at low levels because of a lack of buildable land.

Builders started 368 units in Broward from April through June, up 19 percent from a year earlier, the Metrostudy research firm said Wednesday. The annual “starts pace” — a tally of housing starts from the past four consecutive quarters -— was at 1,229 units, a 14 percent increase from the prior year.

Palm Beach County homebuilding was more active in the second quarter, though starts dropped 3 percent, to 618 from 636 a year ago, Metrostudy said. Annual starts also decreased to 2,006, down 11 percent.