Ask U.S. retirees what worries them most — as a recent survey by the American Institute of CPAs just did — and “running out of money” is the answer that will most likely top their lists. But homeowners over 62 who have substantial equity in their properties have an extra tool at their disposal that can minimize that anxiety. A reverse mortgage will allow them to extract that equity by delivering funds that could keep them calm and out of financial trouble. But could the payments from a reverse mortgage
Naples Reserve residents have realized that something special has been created in their South Naples community, developed by iStar and consisting of 688 acres that feature Southern Coastal-inspired attached villa, single-family and custom estate homes. A dozen couples have fallen in love with Naples Reserve so much that they’ve purchased not one but two homes in the award-winning community.Randy Sparrazza and his wife, Lucy, originally moved from a Naples condo into a D.R. Horton home in the Savannah Lake
When Hurricane Dorian brushed by Volusia and Flagler counties last week without causing major property damage, residents felt a sense of relief. But the storm’s effect has been quietly brutal for hotels, restaurants, attractions and other businesses tied to the area’s tourism economy. While no one has an exact figure, area experts believe the loss to hotels alone amount to tens of millions of dollars. Add in restaurants and their employees, and the losses are much greater. “It’s huge,” said Rob Burnetti,
South Florida’s ever-rising rents can be a pain, but a wave of new apartments may help keep rent prices from skyrocketing, according to a national survey.In a favorable sign for millennials and new arrivals seeking housing, South Florida ranks fourth nationally in 2019 apartment construction, with more than 13,000 new units coming online by year’s end. “As it usually happens, whenever the apartment supply is abundant, there’s a certain slowdown in rent growth,” said RentCafe analyst Florentina Sarac.Ren
During its heyday, the Wonder House attracted curiosity seekers willing to pay a small admission to view up close a true one-of-a-kind residence considered an architectural marvel. A Bartow treasure, it featured inventive, modern conveniences such as hollow columns that collected rainwater from the roof. The water was piped through walls, feeding plants that were recessed into the building’s exterior.
Built of precast concrete panels in 1926, the multistory house at 1075 E. Mann Rd. was a tourist attraction
Florida, with its plentiful beaches, warm weather, and lack of a state-income tax, is the most popular destination for older adults in the U.S. But some who have lived in the Sunshine State for years are moving in the opposite direction.As damaging storms and other effects of climate change have hit Florida particularly hard in the past few years, some older adults living there have become concerned about their safety and their ability to enjoy retirement.
So they’re fleeing this otherwise balmy state.About 52,630 people ages 65 and over left Florida in 2017, versus 48,174 in 2016 and 43,356 in 2012, according to Jon Rork, professor of Economics at Reed College in Portland, Oregan, who studies retirement migration. “Many of these people have left Florida for states like Georgia and North Carolina,” Rork says. “There’s a hypothesis that those who have left Florida for Georgia and North Carolina have done so to avoid hurricanes and big insurance premium jumps.”