New bill would crack down on corporations buying Florida homes
A bill filed in the Florida House of Representatives could make it more difficult for Wall Street-backed landlords to buy homes in the Sunshine State. “When you have corporations buying up single family homes meant to be residential, it takes away from the supply and therefore has an impact on cost,” said Berny Jacques, R-Seminole. A first of its kind analysis from the Tampa Bay Times found that large corporations own more than 117,000 single family homes across Florida. More from the Tampa Bay Times and Action News Jax.
New property tax exemption bill could reduce financial burdens for Floridians
A new property tax bill could reduce the financial burden on Florida homeowners by exempting $100,000 of a property’s value from taxation. The bill (HB 359) filed by Ocala Republican Rep. Ryan Chamberlin is a follow up to a bill filed in the 2024 Legislative Session that called for funding to study the best methods for phasing out property taxes. [Source: Florida Politics]
Gov. Ron DeSantis looks to 'clear the waitlist' and jumpstart My Safe Florida Home program
DeSantis is proposing in his new budget to add about $600 million to the program, which includes a smaller My Safe Florida Condo pilot program. Many homeowners right now are waiting on final approvals to get the grant money for storm-related improvements. The grants top out at $10,000. Other homeowners, about 50,000, have completed their initial inspection, and are now waiting on new funding to start their grant applications. [Source: WPTV]
7 steps to get a real estate license in Florida
Breaking into the Florida real estate market can be an exciting journey that not only lets you help people buy and sell homes but also opens the door to a rewarding career. Right now, the average Florida real estate agent earns about $64,112 a year, but once you get your license and really dive in, there’s potential to earn a whole lot more. [Source: Miami Herald]
South Florida commercial real estate sales rebound in 2024
The sales volume for commercial real estate in South Florida increased in 2024, according to data from Vizzda, as buyers and sellers finally found more agreement on pricing. The property data firm tracks all commercial real estate sales executed deeds in the tri-county region. It found $18.69 billion in sales volume in 2024, up 3% from $18.09 billion in sales the prior year. However, that was still well below the $31.76 billion in sales during 2022. [Source: South Florida Business Journal]
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$28.75 million
Two waterfront properties in Captiva Island, Florida, are being sold together for $28.75 million, or separately for $23 million and $5.75 million. [Source: Fort Myers News Press]
› Jacksonville lags behind other Florida metros in 'equity-rich' mortgaged homes
Jacksonville ranked in the bottom half of more than 100 metro areas across the U.S. with populations of at least 500,000 people for its percentage of equity-rich mortgaged residential properties. As of the fourth quarter of 2024, 43.9% of homes with mortgages were equity rich, meaning they were worth at least 50% more than the homes' outstanding mortgages.
› Tarpon Springs takes wait-and-see stance on changing vacation rental rules
While city commissioners would like to increase the availability of vacation rentals, they have decided to wait and see what action the county takes so it does not risk losing the grandfathered status of its current regulations. Planning director Renea Vincent told commissioners that there’s been interest in either expanding the area where short-term rentals are allowed or changing what qualifies as a short-term rental by possibly shortening the duration that’s required.
› A $50 million Ferrari-inspired mansion just broke a local record in Delray Beach
A Ferrari-inspired mansion known as Casa Maranello in Delray Beach, Florida, shattered a local record last week when it traded for $50.5 million. Not only was the megadeal the biggest the area has ever seen, but it was also one of the most unusual: The sale included a mansion swap, bespoke furniture, elaborate chandeliers, art, alcohol and even a miniature Ferrari 250 Testa Rossa sports car.
› Sarasota County pays $1.3 million to protect Venice land
Sarasota County has bought two Venice properties deemed ecologically sensitive. The purchases were made through its Environmentally Sensitive Lands Protection Program, which is a part of the Land Acquisition and Management Program. The properties include 4.14 acres on Lemon Bay Drive and 5 acres on East Venice Avenue.