Home prices rising in South Florida and across nation, index shows

Steady growth in home prices continued in South Florida and across the country during August, a new report shows.

Prices in Palm Beach, Broward and Miami-Dade counties rose 7.1 percent compared with those in August 2015, according to the S&P CoreLogic Case-Shiller housing index released Tuesday.

Prices rose in all 20 metro areas tracked by the index. Portland, Ore., and Seattle had the highest price gains at 11.7 percent and 11.4 percent, respectively. The national average was 5.3 percent.

South Florida was one of 10 metro areas with a higher annual increase in August compared with July. Prices in the tricounty region rose 7 percent in July from a year earlier.

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http://www.sun-sentinel.com/business/realestate/fl-case-shiller-index-august-20161025-story.html

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State agency: Free foreclosure help is available

Three years ago, Florida lawmakers earmarked $10 million to provide free housing counseling and financial education services to homeowners facing foreclosure.

But to date, most of that money remains unused.

That’s why the Florida Housing Finance Corp. is launching a public awareness campaign to let homeowners know about the Foreclosure Counseling Program.

The agency partners with federal, state and local governments, nonprofit organizations and other industry groups in all 67 Florida counties to help people at risk of losing their homes.

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http://www.sun-sentinel.com/business/realestate/fl-foreclosure-counseling-program-20161010-story.html

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Single-family rentals on the rise in South Florida

Nearly a quarter of all single-family homes in South Florida were occupied by tenants or available for lease last year, according to a report that underscores the changing profile of renters.

In Palm Beach, Broward and Miami-Dade counties, 22 percent of the 904,700 homes were used as rentals in 2015, according to U.S. Census data analyzed by real estate website Zillow.com. That’s up from 19.5 percent in 2014, and it’s the highest percentage since 2005, the first year the figures were calculated annually, Zillow said.

Traditionally, renters have been young, single professionals living in apartments, but more families are turning to single-family rentals because they’ve postponed homeownership or they can’t afford to buy, housing analysts and counselors say.

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http://www.sun-sentinel.com/business/realestate/fl-single-family-rentals-20160923-story.html

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Developer pays $15.9 million for land to build Pines City Center

Pines City Center in Pembroke Pines is expected to break ground later this year after the developer announced that it bought a 17-acre tract for $15.9 million.

The Terra real estate firm said the land will be part of the first phase of the 47-acre project at the southwest corner of Pines Boulevard and Palm Avenue. Publix Supermarkets will anchor the 200,000-square-foot first phase, which should open in 2017, Terra said.

The second phase will include 100,000 square feet of commercial space, 385 apartments and a movie theater.

“We’re seeing a surge in demand for new retail and lifestyle offerings in the area,” said David Martin, president and co-founder of Coconut Grove-based Terra, in a statement.

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http://www.sun-sentinel.com/business/realestate/fl-pines-city-center-for-real-estate-col-20160921-story.html

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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.

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http://www.sun-sentinel.com/business/realestate/sfl-developer-refinances-industrial-properties-20160908-story.html

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Dunkin’ Donuts opens inside BJ’s

Dunkin’ Donuts has opened inside the BJ’s Wholesale Club in Pembroke Pines — and the two retailers will be teaming up at other locations in South Florida.

The new chain location, at 13700 Pines Blvd., is owned and operated by franchisee Mike Fallah. It will be open from 8 a.m. to 8 p.m. daily, and guests don’t need BJ’s memberships. The menu includes hot and iced coffees, lattes, cappuccinos, teas, sandwiches and baked goods.

A Dunkin’ Donuts spokeswoman said the chain will open other restaurants inside BJ’s in the coming months. Details have not yet been released.

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http://www.sun-sentinel.com/business/realestate/sfl-dunkin-donuts-opens-inside-bj-s-20160826-story.html

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South Florida home sales drop in July but prices keep rising

Fewer South Florida homes sold in July compared with a year ago, though the softer demand didn’t hurt prices.

Palm Beach County had 1,530 existing, single-family homes trade hands last month, down 15 percent from July 2015, according to the Realtors Association of the Palm Beaches. It was the sixth month in a row that home sales fell on an annual basis.

Broward had 1,499 sales, off 11 percent, the Greater Fort Lauderdale Realtors said. It was the first sales decline for Broward in the past year.

Single-family sales in Miami-Dade County, meanwhile, declined for the 10th straight month, falling 16 percent to 1,128, according to the Miami Association of Realtors.

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http://www.sun-sentinel.com/business/realestate/fl-home-sales-july-20160824-story.html

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Annual housing starts increase across South Florida

Home construction remains steady across South Florida, even as builders struggle to find available land, a new report shows.

Annual housing starts in Broward County — the total over the past four quarters — is 1,352, up 10 percent from the same period a year earlier, according to the Metrostudy research firm. Broward had 389 starts in the second quarter, 5 percent higher than a year ago.

In Palm Beach County, there were 2,179 starts over the past four quarters, an 8 percent increase from the prior year. However, starts dropped 21 percent in the second quarter, to 489 from 617.

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http://www.sun-sentinel.com/business/realestate/fl-second-quarter-housing-starts-20160809-story.html

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Pembroke Pines a top market for flipping houses, study finds

When it comes to flipping houses, investors should head to Pembroke Pines, a new report shows.

Pembroke Pines ranks No. 18 on a list of the nation’s best housing markets for flipping, according to WalletHub, a personal finance website. The analysis is based on a series of factors, including home prices, average remodeling costs and the stability of individual housing markets, WalletHub said.

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http://www.sun-sentinel.com/business/realestate/fl-best-house-flipping-markets-20160803-story.html

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Do you want to know about Broward County Florida Real Estate statistics for Townhouse & Condos for September 2015?

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