News About Properties

News about properties and real estate
August 10th, 2015

Out-of-town buyers reshape Miami real estate design

Out-of-town buyers aren’t just snapping up Miami’s prime real estate — they’re also changing the way luxury developers build.

As more out-of-towners decide they want to put down roots in South Florida rather than simply buy investment properties for the rental market, they’re asking for bigger, better, more expensive designs. Units equipped with quarters for a nanny or maid. Guest suites for visiting relatives and friends. High-tech security with biometric identification.

Those requests come from both Latin Americans, who have driven Miami’s latest real estate boom, and wealthy Americans, who are appearing locally in greater numbers. Some developers, hoping to lure a growing pool of Chinese buyers, are even turning to “feng shui” consultants who specialize in the eastern art of balanced design.

via Out-of-town buyers reshape Miami real estate design

August 10th, 2015

The Coastal Act has long required affordable lodging along the coastline

When the Hotel del Coronado won state approval in 2010 to add 144 rooms to the luxury oceanview resort, its owners agreed to write a check for more than $1 million so that less well-heeled vacationers could afford an overnight stay on the coast – in a hostel.

Five years later, that hostel has yet to be built, but the California Coastal Commission is still trying, as it has for the last four decades, to enforce a little-known mandate that everyone, regardless of income, is entitled to affordable lodging along the coast.

While widely known for its well publicized efforts to safeguard the public’s access to the water – be it a bayfront promenade in San Diego or a walkway to the beach fronting celebrity-owned homes in Malibu – the commission’s mission to preserve affordability has largely flown under the radar.

via The Coastal Act has long required affordable lodging along the coastline.

August 2nd, 2015

Rent-to-Own Homes Make a Comeback

Wall Street firms have found a new way to profit from consumers with blemished credit who can’t qualify for a mortgage: let them rent a home first with the option to buy it later.Rent-to-own programs, once run mainly by small operators, were popular with cash-strapped consumers during the 1990s. They faded a decade later when easy lending made it possible for almost anyone to buy a home with no money down, but with lenders setting a higher bar, they are making a comeback.

For investors, it is a chance to profit off the recovering housing market. Consumers get a chance to lock in a home before they have the money together for a down payment. But the price may be higher rent in the interim and a higher purchase price the longer they wait to move from renting to owning.

via Rent-to-Own Homes Make a Comeback.

July 12th, 2015

Residential development showing North Hyde Park’s good side [Central Florida]

The legend of Kennedy Boulevard being the great dividing line between Cool Tampa and the rest of the city may be fading.

The latest evidence? A residential boom appears imminent in North Hyde Park, a neighborhood of former warehouses and light industry just north of Kennedy that has been targeted for several new apartment, town home and mixed-use projects.

“There’s just a buzz of activity in the North Hyde Park area that we hope is continuing,” said Stefan McSweeney, a director with St. Petersburg-based Cardinal Point Management, which is proposing a mixed-use project at 301 N. Rome Ave. “For us, it’s a mix of the demographic of people that want to be in an infill location. It’s close to the highway (Interstate 275), close to downtown, close to South Tampa. We see that as good long-term potential for our project and a lot of other ones in the immediate area.”

via Residential development showing North Hyde Park’s good side.

July 12th, 2015

Seattle’s Luxury Homes Get a Tech Boom Boost

The technology boom is pushing its way north up the Pacific Coast, boosting real-estate prices, sparking neighborhood squabbles and creating new demand for luxury homes asking $1.5 million or more.Real-estate agents say Seattle, the longtime home of software giant Microsoft and online-retailing behemoth Amazon, is attracting more technology firms because it offers a combination of local talent and lower housing prices than the tech centers of California.

In the past year, Best Buy, Alibaba and HBO have announced or opened IT-related operations in the city, according to the Seattle Metropolitan Chamber of Commerce. Amazon will add to its Seattle footprint with two new buildings, while Google, Facebook, Twitter and Hulu have all expanded their Seattle offices in the past few years.

via Seattle’s Luxury Homes Get a Tech Boom Boost.

June 22nd, 2015

Guernsey: Where Home Buyers Find Shelter (From Taxes)

It is sandwiched between England and France, yet it is not part of the European Union. Its expat community is mostly made up of seniors looking for an old-fashioned way of life. And it expects foreigners to pay at least twice as much as locals for the privilege of living on its 30-or-so square miles.

Could old Guernsey be the world’s most unlikely tax haven?

The quirky little jurisdiction is one of seven permanently inhabited islands in the English Channel and sits about 90 miles south of Britain’s mainland. But despite the proximity, Guernsey and neighboring islands like Alderney are little known even to the British.

via Guernsey: Where Home Buyers Find Shelter (From Taxes).

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