Is Florida's property insurance market ready for 'hyperactive' hurricane season?
Florida's top insurance officials think the state's property insurance market is better than it has been in years. This comes ahead of a predicted "hyperactive" hurricane season. But where they see improvement others find frustration as high rates and little relief continue. [Source: WPTV]
Report finds fewer people moving to Florida in 2024 — except to this city
A new report has found Ocala is the second most popular city Americans are moving to in 2024. According to data from moving and storage company PODS, three Florida cities cracked the top 20 list of most moved-to areas in the country — a significant drop-off since last year’s list when the Sunshine State had six locations make the cut. Joining Ocala on PODS’ top moved-to destinations are Jacksonville (ninth) and Orlando (18th). Tampa, Sarasota and Melbourne all dropped out of the rankings. [Source: Click Orlando]
Column: Florida condo owner crisis deepens with impending inspection deadlines, building repairs burden
As the third anniversary of the tragic Champlain Towers collapse in Surfside approaches, Florida condo owners are facing a critical and financially burdensome deadline directly linked to that disaster. The tragedy caused a ripple effect in legislation at the state level in the form of Senate Bill 4D and the subsequent Senate Bill 154, requiring preventative maintenance for all condo associations moving forward. [Source: Tampa Bay Business Journal]
See which Florida areas are ranked the best for home buyers in the U.S.
Zillow’s new market heat index has been released and Florida proved to have several top metros for home buyers. According to Zillow, the South has been the most buyer-friendly, with Florida and Texas securing seven of the top 10 spots. Miami and New Orleans notably tied for the most buyer-friendly market. Tampa, Jacksonville and Orlando also claimed spots in the top 10. [Source: NBC Miami]
Rental market in Florida could be settling down. Will housing get cheaper?
On Tuesday, Florida Atlantic University released a new study showing that the state’s rental markets might be stabilizing. In a release, FAU officials announced that rents in places like Palm Bay and Jacksonville have recently gone below their long-term trends. Meanwhile, the data indicates that other major cities in the state — such as Cape Coral, Orlando and Deltona — saw only slight increases in rent prices, with price increases gradually slowing down. [Source: Click Orlando]
100
The Vicente Nieto and Bros. Cigar Factory turns 100 next year. But if Liana Fuente has her way, the building won’t look a day over 70. [Source: Tampa Bay Times]
› National real estate firm plants flag in Orlando
A national commercial real estate firm is continuing its expansion into Florida with a new office in an iconic downtown Orlando building. Dallas-based Stream Realty Partners announced the opening of its latest office in the former SunTrust building, now The Exchange. "We're very bullish on Orlando," said Stream executive managing director for Florida Greg Katz, calling the city "fast-growing, dynamic, the center of the [Florida] stage."
› Miami home prices buck national trends; Key Biscayne condos see cooling market
South Florida’s housing market bucked the national trend in April, new data reveals – but in Key Biscayne, condos appear to be cooling off just a bit. “I think that the takeaway from this is that condos probably do need to be careful because we’re building a lot of condos. Like the total sales of condos on the Key were down 21%,” said real estate expert Ron Shuffield, president and CEO of Berkshire Hathaway HomeServices EWM Realty.
› One of Temple Terrace’s original homes is for sale
When developing Temple Terrace, the founders wanted to go big. The initial construction phase in 1926 was to include 120 homes designed by Dwight Baum, a nationally renowned architect whose previous work included the Sarasota mansion of circus pioneer John Ringling. “The new residences will be the finest of any structures of their type in Florida,” the Tampa Tribune reported. “They will be gems of architectural beauty.” Due to the economy, it appears that only a quarter of those Spanish Mediterranean-style homes were built.
› Unsheltered population in tri-county area doubled in 2024, says Central Florida organization
The Homeless Services Network of Central Florida held a press conference Wednesday after data was released on the increase in homelessness. Officials say as of late January, there were 1,682 people living in shelters, and 1,201 people who were unsheltered — living in areas like the woods or under overpasses.