Tag Archives: Market Analysis

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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South Florida tenants will have to settle for slower rent growth

South Florida tenants will have to settle for slower rent growth

Beleaguered South Florida tenants still will be paying more in the coming year, but a new forecast shows rent growth is likely to slow.

Rents in the tricounty region are projected to increase 3.2 percent through next August — down from 4.2 percent over the past year, real estate website Zillow said. The national average for the year ahead is 1.7 percent, same as it was this year.

South Florida’s Zillow rent index — the median price paid for renting apartments, condominiums and single-family homes — was $1,885 in August. That’s up 21 percent since August 2011, according to Zillow.

The sharp increases have led to affordability problems.

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http://www.sun-sentinel.com/business/realestate/fl-south-florida-rent-growth-20161014-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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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’s ‘seriously underwater’ mortgages drop in second quarter, RealtyTrac says

South Florida homeowners continue to regain equity lost during the last decade’s housing crisis, as the number of “seriously underwater” mortgages has declined sharply over the past three years.

At the end of the second quarter, 17.3 percent of homeowners with a mortgage — 262,591 people in Palm Beach, Broward and Miami-Dade counties — owed at least 25 percent more than the property was worth, according to the RealtyTrac Inc. research firm in Irvine, Calif.

While that’s still higher than the national average of 11.9 percent, it is down from 22.4 percent (332,186 homeowners) at the end of the second quarter of 2015, RealtyTrac said.

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http://www.sun-sentinel.com/business/realestate/fl-underwater-mortgages-realtytrac-20160813-story.html

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