The very first project Jon Cardello’s architecture firm designed in South Florida was a tiny toll booth at a University of Miami parking garage.
Today, Cardello and his wife, Rachel, also an architect, run a team of 117 people designing some of Miami’s tallest new towers, as well as projects in Orlando, Dallas and the Bahamas. ADD merged its business with Canadian-based mega-firm Stantec last year, giving the Miami office global reach.
More than half of all South Florida home and condo sales in May were cash deals, but buyers who need mortgages shouldn’t lose heart, a new report shows.
Roughly 53 percent of transactions last month didn’t involve a loan. Yet that’s down from about 70 percent a year ago, the RealtyTrac listing firm said Thursday. The figures cover Palm Beach, Broward and Miami-Dade counties.
Homebuyers continued their spring stampede in May.
Broward County had its most prolific month for home sales in 11 years with 1,527 existing single-family closings, up 14 percent from a year ago, the Greater Fort Lauderdale Realtors said Monday.
The median price of $290,000 was 4 percent higher than in May 2014.
In Palm Beach County, 1,739 homes traded hands, a 6 percent increase from a year earlier, according to the Realtors Association of the Palm Beaches. There were only four fewer sales in May than April, which was the county’s best month since June 2004.
Rising home prices across South Florida are helping more owners escape “underwater” mortgages, a new report shows.
In the first quarter of 2015, 17.4 percent of all mortgaged homeowners in Palm Beach, Broward and Miami-Dade counties owed more than their properties were worth, down from 24.9 percent a year earlier, according to real estate website Zillow.com.
The so-called negative-equity rate has declined in the tri-county region on an annual basis in every quarter since early 2012.
Average consumers in South Florida would be slightly better off renting a home than buying one — assuming they invest the money they would have spent on a down payment and other cost savings, a new study shows.
The Beracha, Hardin & Johnson Buy vs. Rent Index, a creation of professors from Florida Atlantic and Florida International universities, determines whether market conditions favor buying or renting a home in terms of wealth creation and investment opportunities.
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