ORLANDO, Fla., Oct. 24, 2008 – For the first time in almost three years, Florida’s existing home sales rose in September, noting a 24 percent increase in activity in the year-to-year comparison; last month’s sales of existing condos statewide increased 11 percent in the year-to-year comparison, according to the latest housing data released by the [...]
Your “Miami condo auction draws low bids” article was both symptomatic and problematic. A developer holds an auction and now cries that he sold nine condos that he couldn’t sell prior to the auction for less than what they cost to build. This smacks of the real problem – greed coupled with over-inflated prices.
If someone [...]
Rental housing, that old housing standby of recent college grads and young professionals, is making a comeback with Middle Tennessee developers, in the latest sign of Nashville’s shifting real estate market.
Three local developers, including two with histories as condo builders, are pitching four apartment projects this fall in fast-growing neighborhoods near the city center.
With swimming [...]
As the outlook of Fort Worth’s residential real estate market continues to become clearer, some developers are re-examining their mixed-use development projects – and their high-dollar condominium facets – in an effort to correct with the market.
And for developers of West 7th project, that meant scraping the condos and replacing them with a better performing [...]
South Florida may have dodged some of the recent hurricanes, but it is still experiencing turbulence, especially in the condo market. Has it hit bottom yet? Peter Fitzgerald, COO of the The RADCO Cos., talks about what’s in the sector’s forecast.
Where does South Florida’s condominium market stand right now? Have you seen any recovery, or [...]
When large South Florida developers needed money, they often turned to Lehman Brothers.
That role ended in dramatic fashion when Lehman filed for bankruptcy protection. But Lehman still controls nearly $2 billion in large loans throughout the region, meaning the bank’s demise will play out across South Florida’s besieged real estate market.
Among the local projects Lehman [...]
The housing market crisis in south Florida was a “perfect storm” of oversupply, fraud, speculation, and tight credit, and it could take a couple of years for the Miami condo market to work through its oversupply, Miami Mayor Manny Diaz said on Wednesday.
Many Miami real estate developers “clearly” built more housing units than they should [...]
Builder confidence in the market for condominiums continued to fall in the second quarter of 2008, according to the Multifamily Condo Market Index (MCMI), released today by the National Association of Home Builders (NAHB). The latest decline pushed two of the three components of the MCMI to their lowest levels since NAHB created the index [...]
Renters looking to live closer to work and play are making apartments scarce and driving up prices in the downtown Miami area, according to a recent tracking report.
Fewer than 800 units are available for rent, despite a construction boom during the last five years that produced nearly 21,000 new residences.
Bal Harbour-based Condo Vultures Realty says [...]