News About Properties

News about properties and real estate
April 7th, 2016

Kevin Maloney’s PMG is Building Empires in New York and South Florida

A little more than two years ago, Kevin Maloney, the founder and principal of Property Markets Group, was talking about a possible partnership with a wealthy Emerati named Khadem al-Qubaisi who had flown in to New York for a meeting.

Midway through their discussion, it came up that Mr. Maloney’s new friend needed an apartment in the city.

Mr. Maloney was better equipped than most to accommodate; he was in the middle of selling Walker Tower, one of the premier new developments in Gotham. And, as it so happened, Walker Tower had a pretty spectacular penthouse on the market.

via Kevin Maloney’s PMG is Building Empires in New York and South Florida.

April 7th, 2016

Broward County’s Robust Condo Market

Don’t look now, but Hallandale Beach Mayor Joy F. Cooper has designs on making her city another Miami Beach. There’s a bit of exaggeration in that statement, of course, but not much.For starters, in the 10 years since she took office, the median age in Hallandale Beach city has declined from 70-plus to the mid-40s. That’s certainly a good sign for future growth.

Another shift in the sands has taken place — one far from the mayor’s region but with a very real local impact. International currencies aren’t stretching as far. Consider that in less than a decade, the Argentine and Venezuelan currencies have lost about half their values compared to the U.S. dollar. The Brazilian real has dropped, too.

via Broward County’s Robust Condo Market.

March 7th, 2016

Miami Beach is Finally Getting the One Thing It’s Missing: A Hotel at the Miami Beach Convention Center

Talk to any resident or visitor and they’ll tell you that Miami Beach has it all: sun, sand, and salsa—not to mention world-class cuisine, shopping, and entertainment. What tourist hasn’t considered delaying his or her flight home to stick around in paradise just one more day? But to government officials and the local tourism industry, Miami Beach needs one additional thing to complete the perfect picture: a convention center hotel.

Last year, the Miami Beach City Commission unanimously agreed to move forward with a $596 million project to expand and renovate the Miami Beach Convention Center. The location of Art Basel in Miami Beach and Maison&Objet Americas, the convention center is home to some of the region’s largest tourism draws.

via Miami Beach is Finally Getting the One Thing It’s Missing: A Hotel at the Miami Beach Convention Center

March 7th, 2016

From a veteran appraiser, an assessment of Tampa Bay’s housing market

In real estate transactions, the most visible players are the agents representing buyers and sellers. But it is the work of appraisers that helps determine the true value of a home and what a bank is willing to lend.

Joni Herndon of Tampa has been a state-certified residential appraiser since 1985, maintaining a strong reputation in a field that got a black eye as a result of appraisal practices that contributed to the housing bubble and crash. From 2006 to 2013, Herndon was a member of the Florida Real Estate Appraisal Board and served as its chair in 2008, 2009 and 2013.

An Army brat, Herndon was born in Anchorage, Ala., but grew up in Tampa and graduated from the University of Florida. She owns Real Property Analysts/Gulf Coast, which has four appraisers including herself.

via From a veteran appraiser, an assessment of Tampa Bay’s housing market | Tampa Bay Times.

March 7th, 2016

Mall mania! Hot shopping spots expanding across South Florida

There’s a gold rush on for retail in South Florida.Developers and mall operators want to renovate and expand shopping centers across the region. New retail is popping up, too, especially open-air “high-street” shops with surprisingly gourmet dining — a breezy contrast to the enclosed suburban malls of old. The cost of all that investment runs into the billions.

The timing may seem odd, given the obstacles: Economic slowdowns in Latin America, Europe and China. A strong dollar slowing tourist spending and a shaky stock market here at home. More and more people shopping online. But experts say the Miami market’s fundamentals are strong and that there’s room to grow despite fears of oversaturation when the new projects open up.

via Mall mania! Hot shopping spots expanding across South Florida.

January 3rd, 2016

Foreclosure rate below 2 percent [South Florida]

For the first time in at least seven years, the foreclosure rate has dipped below 2 percent in the Sarasota-Manatee region.

The rate of foreclosures among outstanding mortgages in the two counties fell to 1.91 percent in October, down sharply from its peak of 12.23 percent in June 2011, according to data provider CoreLogic.

While that means fewer homeowners are losing their properties, it also marks a turning point for Realtors and attorneys who have specialized in distressed properties during the downturn and prolonged recovery of the Southwest Florida real estate market.

via Foreclosure rate below 2 percent [South Florida].

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