Millennials a surging part of U.S. real estate market, but not in Florida
Adults under the age of 35 are beginning to buy homes at an increasing clip but Florida is struggling to attract younger homeowners. Florida cities are not in the top 50 for popularity with millennials. In fact, cities in the Sunshine State made up half of the least popular cities for millennial homebuyers. More from the Sarasota Herald-Tribune, WBBH, and KiiiTV.
Possible Indian burial grounds could delay million-dollar homes in Central Florida
In a region where cul de sacs have quickly replaced crops over the last half century, documented encounters between development and Native American archaeological sites remain somewhat rare. Central Florida had 12 cases of prehistoric Native American human remains being found during the past two years — about a fifth of cases statewide during that time, state officials say. [Source: Orlando Sentinel]
A boom in residential real estate, for some
On the surface, the annual ranking of the country’s top brokerage firms shows “significant growth” in residential sales volume — a “boom year,” RISMedia states in the 30th edition of the real estate information company’s Top 500 Power Broker Survey. But underlying the sales volume is a troubling indicator of the overall market and the growing dearth of affordable housing. [Source: Sarasota Herald-Tribune]
Florida property tax rates in middle of pack nationally
Property tax rates on single-family homes in 2017 ranged from a high of 2.28 percent in New Jersey to a low of 0.34 percent in Hawaii. Florida was in the middle of the pack at 1.09 percent. Alachua, St. Lucie and Palm Beach Counties had the three highest rates among Florida counties. [Source: Palm Beach Post]
How would Florida’s proposed daylight savings bill impact real estate?
On March 23, Gov. Rick Scott of Florida signed a bill to keep the state on daylight savings time year-round. Extending daylight savings time permanently could have a profound impact on when Florida real estate agents can show properties. More from Inman and WFG.
STAT OF THE WEEK
Cost per night for a 12-day stay at a proposed low Earth orbit hotel being developed by startup Orion Span. Read more from the Real Deal and Florida Today.
› Central Florida neighborhoods where home values are surging [Orlando Business Journal]
Home values grew solidly across Central Florida in 2017, but they really skyrocketed in some of Orlando’s outlying neighborhoods. Data from the Orlando Regional Realtor Association broke down single-family home sales in 2017 by ZIP code.
› On Top of the World plans detail mega non-retiree community [Ocala Star-Banner]
Kenneth Colen hopes to open the On Top of the World lifestyle to working families with the company’s planned debut of a community not restricted to those age 55 and older. The Marion County Planning and Zoning Commission last week recommended approval of a plan that would bring more than 2,500 homes to a 467-acre section of pasture land
› Real estate Ponzi schemer, Alfano La Cava, pleads guilty [Orlando Sentinel]
A real estate broker who ran a $5 million Ponzi scheme in the Orlando area based on fake real estate has pleaded guilty. But attorneys representing victims in civil lawsuits in Orlando said the scheme dated back years and included at least 100 victims and $40 million.
› Berkshire Hathaway Florida acquires South Miami firm [The Real Deal]
Berkshire Hathaway HomeServices Florida Realty is expanding its reach in Miami-Dade. The brokerage, a subsidiary of Lennar Corp., just closed on the acquisition of Foster & Clark Real Estate, adding 24 agents to the company.
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