Luxury Real Estate

New Homes Carve Out Separate Quarters

MIAMI – With the cost of homes out of reach for many families, developers in South Florida are now adding annexes to new construction, allowing relatives to live under the same roof. The extra space comes with a room or two and its own kitchen, much like those in-law quarters added to older homes. The built-in apartments … Read more

South Florida Buyers, Renters to See Positive 2024 Changes

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MIAMI – Homebuyers and renters are in luck. Real estate experts predict you can expect better deals in South Florida in 2024. Thanks to a slowdown in home sales and a growing supply of residences – especially high-rises – it’ll be a good time to rent or buy, the forecasters say. Prices will lower slightly, … Read more

How Do You Become a Luxury Real Estate Agent?

Gathering a professional network that includes peers and a mentor is a crucial first step. Personal brands should also be adjusted to showcase your new specialty. MEMPHIS, Tenn. – For real estate agents hoping to eventually carve out a career in the luxury niche, assembling a professional network that includes peers – and, ideally, a … Read more

Forming a Dream Team: Super-Sized or Niche-Focused?

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A super-sized team ups the chances that someone can handle any buyer that comes your way, but a niche-focused team can dominate a specific market area. NEW YORK – Real estate teams are flexing their might in today’s market, using economies of scale to gain a competitive edge. As agents consider switching to this model, … Read more

Fla. Island Purchased with COVID Disaster Funds

YANKEETOWN, Fla. (AP) – A freshwater spring bubbles amid the mangroves, cabbage palms and red cedars on Sweetheart Island, a two-acre uninhabited patch of paradise about a mile off the coast of this little Gulf Coast town. Pelicans divebomb nearby into the cool waters of Florida’s Withlacoochee Bay and the open view westward holds the … Read more

Best Fla. City to Avoid Flooding? Ocala

Climate Alpha uses AI to identify those Fla. cities with the least risk from flooding. For overall storm risk, Ocala is No.3 behind Lake City and Tallahassee. NEW YORK – The National Oceanic and Atmospheric Administration reports that 40% of U.S. hurricane landfalls occur in Florida – significantly more than any other state. But some … Read more

Buyers Still Waive Appraisal Gap in Some Markets

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To secure a home, some U.S. buyers still agree to make up the difference when a mortgage appraisal comes in at less than the contract price – an often risky move. NEW YORK – Some buyers looking for a luxury home in a competitive market waive the so-called appraisal gap to entice a seller to … Read more

Rents Still High but Landlords Offering Concessions

Aug. report: Rather than lower monthly rents that remain within $2 of their all-time high, more landlords are offering perks, such as a free month or two. SEATTLE – The median U.S. asking rent in August was $2,052, just $2 below the record high set a year earlier, according to a Redfin report. It’s up … Read more

2 of Every 25 U.S. Homes Worth at Least $1M

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While $1M signified luxury property a short while ago, it’s now 8% of the nation’s housing stock – but a large percentage of those homes are still in Pacific Coast states. SEATTLE – Just over 8% of U.S. homes are worth $1 million or more, near June 2022’s all-time high of 8.6%, according to a … Read more

FHA 203(k) Loans: What They Are, How They Work

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Most buyers want move-in ready, but they’ll have a wider selection with fixer-uppers, and an FHA 203(k) loan can roll upgrade/repair costs into their first mortgage. NEW YORK – When you buy a home, there are usually a few repairs to pay for. Buyers who want to take on a real fixer-upper might be facing … Read more