By choice or by force, more and more people in South Florida’s foreclosure-ridden housing market are renting, rather than owning, their homes. In an ironic twist on economics, that dynamic is actually helping the resale market. According to sales reports released Thursday, South Florida is on track to set a new sales record this year. …
Category Archives: Investment Tips
Ask a real estate pro: Short sale or bankruptcy? – South Florida Sun-Sentinel.com
Board-certified real estate attorney Gary M. Singer answers housing questions in this space each Friday. Q: I am elderly and got involved with a rental property with the help of a family member. Now the family member is nowhere in sight, the tenant left and the mortgage is underwater. I don’t have the energy or …
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Florida flood insurance: FEMA’s redrawn maps mean many in Metro Orlando need costly flood insurance
The first disaster for Ron Benitez was losing his DeBary home to the massive flooding caused by Tropical Storm Fay in 2008. Now, the retiree is facing a financial calamity: paying far more for flood insurance because of newly revised federal maps that have made his rebuilt home part of a high-risk flood zone. Benitez, …
Housing market is terrific, if you are rich
It’s starting to feel as if there are two housing markets. One for the rich — and international buyers — and one for everyone else. Consider foreclosure-ravaged Detroit. In the historic Green Acres district, a haven for hipsters, a pristine, three-bedroom brick Tudor recently sold for $6,000 — about what a buyer would have paid …
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Apartment construction set to sweep Broward and Palm Beach counties
South Florida is about to go from condo bust to apartment boom.Developers are set to kick off a new round of housing construction with plans to build more than 4,000 rental apartments. Five years have passed since the collapse of the housing market brought an end to the condo construction craze that swept the region.Two …
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Sign of the times: Accidental landlords
Those who want even more help are turning to rental-management professionals. “It’s been a huge boon for us,” said Brenton Hayden, president and CEO of Renters Warehouse, Golden Valley. Unintentional landlords now represent more than 50 percent of his firm’s customers, up from about 10 percent just two years ago. “We’ve had to staff up …