Miami Real Estate

Citizens Customers Getting Buyout Letters this Week

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About 300K Fla. homeowners with Citizens – Fla.’s “insurer of last resort” – will receive a letter that automatically transfers them to a private insurer if they don’t respond. MIAMI – A warning to Floridians with Citizens Property Insurance coverage: Check your mailbox. About 300,000 customers of the state-run insurer of last resort are receiving … 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

Some Fed Programs Help Pay to Elevate Homes

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MIAMI – After storm surge from Hurricane Idalia flooded homes in Tampa Bay and Florida’s Big Bend region, state officials are asking homeowners to tap into a federal program to help pay to elevate homes. “It is one of the best programs that we have in our toolkit,” Division of Emergency Management Director Kevin Guthrie … Read more

Young, Rich Professionals Have Ditched N.Y., Calif.

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CONYERS, Ga. – They’re young, they’ve got money, and they’re on the move. A recent analysis by SmartAsset, which examined IRS data from 2021, found that New York and California lost the most residents aged 26 to 35 with annual incomes of at least $200,000. There are likely many reasons these folks are relocating, not the least of which is cheaper living. … Read more

Defrauded HOA Trying to Unravel the Mess

MIAMI – At the Hammocks in West Kendall, 6,500 homeowners are anxious for a return to self-rule after seven years under the thumb of a tyrannical, secretive board of directors that is accused of stealing millions in monthly fees from their neighbors. Although the former president is in jail on theft and fraud charges, and … Read more

1 in 3 For-Sale Homes Are Newly Built

Of all homes buyers could consider in the second quarter, 31.4% were new construction – the highest 2Q percentage on record. Pre-pandemic it was 17%. SEATTLE – Newly built homes made up nearly one-third (31.4%) of all single-family home listings on the market nationwide in the second quarter, according to a report from Redfin, the … Read more

Realtor Safety Tip: Wear Insect Repellant

Mosquito-borne illnesses have spiked in Florida – dengue, malaria, chikungunya and West Nile Virus – due largely to an international visitor increase. MIAMI – This year’s spike in international travel has brought more than 200 cases of mosquito-borne illnesses to Florida, including dengue, malaria, chikunguny and West Nile Virus. When it comes to dengue fever, … Read more

Florida Realtors Honors 2023 Award Winners

ORLANDO, Fla. – Aug. 17, 2023 – Florida Realtors® recognized Christina Pappas, 2022 Florida Realtors president, as its 2023 Realtor of the Year. The award – one of several – was presented Thursday during the state association’s annual Convention & Trade Expo at Rosen Shingle Creek in Orlando, Fla. The Realtor audience applauded as Pappas … Read more

Homes in ‘Upward Mobility’ Areas Cost 38% More

It’s not just the house: Some neighborhoods offer more opportunities. In Fla., the home price difference between high- and low-opportunity areas runs as high as 64%. SEATTLE – In a high-opportunity neighborhood, children who grew up in low-earning households went on to become higher earning adults than the typical person who grew up in their … Read more

HUD Gives $40M Neighborhood Award to Miami-Dade

HUD Secretary says Miami-Dade County shows a “commitment to neighborhood revitalization.” The grant is HUD’s maximum amount for smaller developments. MIAMI – The U.S. Department of Housing and Urban Development (HUD) awarded a $40 million Choice Neighborhoods Implementation (CNI) Grant to Miami-Dade County to redevelop Cutler Manor in the Goulds suburb of Miami (population 10,994). … Read more