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Southwest Florida could net a healthy number of visitors this winter, but the local competition for their business is fierce.
People who manage hotels and condos are starting to realize that visitors have many, many options.
After three years of raising rates, they are now focused on making sure guests return.
David Teitelbaum, president of a small condo-hotel […]
The commercial real estate markets continue to grow with record investment, and individual sectors in many areas are seeing tighter vacancy rates and higher rents, according to the latest Commercial Real Estate Outlook from National Association of Realtors® (NAR).
“The office and industrial markets continue to shine, supported by job growth and trade, while the rental […]
What homeowner wouldn’t be ecstatic over a 25 percent cut in the property insurance bill?
Probably the one whose premium just jumped by 200 percent.
State lawmakers will consider proposals next week that could roll back property insurance rates from 25 percent to 40 percent.
At The Inlets in Venice, where the condominium association’s windstorm insurance increases this […]
Sarasota-Bradenton posted a pricing decline — 9 percent — to $291,500, though the area’s median has been trending up when compared with the last several months.
The varying pitch of pricing in the region makes perfect sense to David Lipstein, founder of Manasota Key Realty.
“Buyers are looking for bargains — there’s no question about it,” Lipstein […]
Many of the health care workers, police and teachers that communities rely on for vital services can’t afford to buy homes, and some even have trouble covering rental costs, a new study found.
The Center for Housing Policy, the research affiliate of the National Housing Conference in Washington, D.C., found that a working family needed an […]
No longer as much of a bargain as they were before the Federal Reserve raised short-term rates, adjustable mortgages lost some of their share of the residential market in 2006.
At the end of December, the market share for ARMs fell to 20.4 percent, the lowest since July 2003, according to the Mortgage Bankers Association of […]
As the number of homes available for sale goes up, it’s no surprise that more homes are vacant - more than 30 percent during the third quarter of 2006 compared to a year earlier or 1.9 million homes, according to the U.S. Census Bureau shows. That’s about half of all single-family homes on the market, […]
STAFF REPORT
Occupancy rates in Sarasota, Bradenton and Venice apartment complexes dropped nearly 5 percent during the past year and could be an indication that average rents won’t rise much in the months ahead, according to data released Thursday.
The local increase in apartment vacancies reflects a similar trend in every metropolitan area tracked by RealFacts, a […]
With the number of homes on the market more than double what they were last year and prices leveling out, many investors are searching for new properties.
“We’re looking north and south,” said Roselyn Britton, an investor who owns several properties in Sarasota.
A combination of low mortgage rates and more reasonable home prices has Britton looking. […]
It’s getting more difficult to build projects involving mixed-income housing. CED Construction, a workforce housing developer, says rising land prices and the need for new schools and road upgrades make it difficult for it to profitably build mixed-income housing. Officials say the company’s $36 million Marbella project in Orange County, where 40 percent of units […]
Seller financing has become more of a topic in potential real estate transactions recently. Property owners appear more willing to negotiate terms that help close a deal with a buyer who may not be able to meet the requirements of a regular mortgage lender, says Walter Molony, a spokesman for NAR. High lending rates in […]
Present Market Conditions
Early reports for the end of 2006 look to be mostly favorable.Unprecedented figures for the stock market as well as record earnings reports helped to offset a downturn in the national housing market. Financial markets will experience another short week, being closed for New Year’s Day as well as the national day of […]
It’s difficult for housing experts to determine whether the market has finally bottomed out, especially since home sales typically slow during the winter months. Moreover, Census data shows that 4.6 percent of the nation’s for-sale and rental homes, or 5.7 million units, sat vacant in the third quarter — up from an average 3.5 percent […]
After three solid months of gains, consumer confidence in Florida fell in December by four points to 89, University of Florida (UF) economists report. “The release this month shows a Florida consumer who is still reasonably optimistic about the economy at present but is expecting a decline in their finances and the overall economy over […]
The bull market in commercial real estate made 2006 a record year, and many believe 2007 will be just as good.
“There’s just a lot of cash in the system chasing assets that throw off a yield,” says Michael H. Winer, who manages the Third Avenue Real Estate Value Fund. “As long as the liquidity is […]