Florida Trend Exclusive
Soaring prices are dashing dreams of owning waterfront property for many
While many come to Florida dreaming of a beach house, starting prices for waterfront properties have skyrocketed. Florida Trend surveyed real estate agents and property listings to see what it costs to live on the water in Florida these days. The cheapest beachfront home we found was in Alligator Point, Franklin County, Big Bend, Florida. The one-story, 925-square-foot, two-bedroom Cape Cod-style home was built in 1947 on a quarter-acre lot. List price: $479,000. [Source: Florida Trend]
Americans move to Florida, Texas and Alabama as no more work from home since COVID
Some do it for the cost of living. Others do it for comfort, to be closer to loved ones, or for that new job. Whatever the reason, Americans were still on the move in 2021, the first full year experienced during the COVID-19 pandemic, according to multiple reports. Pew Research indicates that 26.5 million people moved from one home in the United States to another between March 2020 and March 2021. [Source: USA Today]
Condo owners and buyers face sticker shock after Surfside tragedy
After the collapse of the Champlain Towers South condo in Surfside last year, the cost of safe living in a condominium has never been more of a concern in Florida. “Buyer beware” is an important rule of thumb as owners of condominiums and other multi-family complexes make necessary repairs, either voluntarily or under state mandate. [Source: WPTV]
Florida’s West Coast Cities Rank Among Top Emerging Real Estate Markets
Florida’s West Coast real estate market is heating up, boosted by remote working and sunny weather. Naples ranked No. 1 and North Port was No. 2 in the Wall Street Journal/Realtor.com Emerging Markets Housing Index. Three other Florida markets are also in the top 20: Cape Coral, Punta Gorda and Sebastian, a city on the state’s east coast. [Source: The Real Deal]
Florida homeowners are still reeling from their homeowners insurance premiums in 2022. The average annual cost to maintain a homeowners insurance policy in this state is almost double what it is in the rest of the country. The Insurance Information Institute reports that statewide premiums have increased nearly 25% this year. The reason? Experts say there are myriad problems. [Source: WPTV]
› After a year of strong growth, Jacksonville’s real estate market ‘near peak’, academics say
The booming Jacksonville-area real estate market has left home values a bit inflated, according to two academics warning that the crunch times for home sellers across the state may be ending. “If you’re buying a home in these metros across Florida…it’s imperative that you know you’re buying near the top of the market,” said Ken H. Johnson, an economist at Florida Atlantic University who has researched the house prices. nationwide with Eli Beracha, a professor at Florida International University.
› Prime Property: French Country Estate has a separate space for everyone
Homebuyers looking for the utmost privacy or a multi-generational living opportunity should check out a property recently listed for $29.5 million in Miami’s Coconut Grove neighborhood. The 7,500 square foot main house, originally built in 1934 and remodeled in 2008, features five bedrooms, five full bathrooms and one half bath, large foyer, fireplace, formal dining room, kitchen stainless steel kitchen with a large kitchen island and a master suite with a living room area, a private terrace, a spa-like bath and three walk-in closets.
› NFT home sells for $654,000 at historic auction – Tampa condo next
A home in Gulfport auctioned off as a non-fungible token on Thursday sold for $654,310, or roughly 210 ethereum. This is a first for American real estate, according to the real estate transaction company Propy. A user named “AJ” bought the house during an hour-long auction. The buyer’s first name is Amanda and the person is based in the United States, said Propy CEO Natalia Karayaneva.
› A Wynwood household name rises in hipster heaven. Here’s what’s planned
Miami’s hipster haven is slated for more office space, adding to the booming neighborhood’s ongoing evolution. Behind the project: The pioneer developer of the district. An eight-story office building that can house up to 18 businesses will be located at 390 NW 25th St., said Scott Srebnick, CEO of Wynwood-based Goldman Properties. It will replace a surface parking lot and two warehouses on a 28,000 square foot L-shaped site.
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