These real estate agents cut their commissions

A new Jersey company said it’s expanding into South Florida with a service that allows home sellers to avoid “the hassle and awkwardness” of negotiating lower commissions with real estate agents.Less Percent Real Estate pairs sellers with local agents who already have agreed to accept less than the typical 6 percent commission.

Sellers can use LessPercent.com to compare multiple offers from agents bidding to sell their homes. It’s free for sellers, who remain anonymous until they select an agent.”We totally stay out of the transaction,” CEO Michael Huegel said. “It’s almost like a dating service.”

via These real estate agents cut their commissions.

5 Tips for Investors With Limited Cash to Purchase Their First Properties

At trillions of dollars, it’s no secret that the real estate market has been one of primary resources for the world’s wealthy to to pad their accounts. But contrary to popular opinion, real estate is still a desirable asset class for entrepreneurs with smaller bank accounts.

Individuals who budget wisely and do their research can find good values. It’s important to understand where to look and to time your investment right, as well. If you can find a property in an up-and-coming neighborhood before it peaks, you can make a healthy profit. In addition, don’t be fearful. Buyers without a lot of cash make wise real estate investments every day. There are a range of smart financing options. 

Below are five tips for funding your first real estate investment, and how you can turn that investment into more cash in the future.

via 5 Tips for Investors With Limited Cash to Purchase Their First Properties.

Landlord Nation: Boomers’ New Retirement Plan Is Millennials Paying Rent

Pete Pollinger and his wife, Julie, are relocating from Boca Raton to Melbourne, a city of about 70,000 on Florida’s Space Coast, named for its proximity to NASA rocket sites at Cape Canaveral and the Kennedy Space Center.

They weren’t just hunting for a place to live. As they get ready to move this year, they’re also looking for single-family homes they can buy, fix, and rent out.  

“We want to be more in control of our financial destiny,” said Pollinger, 51, a computer systems consultant. “As far as traditional investments go, we have less control of what really happens to those.” 

He and Julie hope to build a portfolio of about 10 homes, buying when they see good value or selling a fixed-up home when the market presents the opportunity to take a profit.

via Landlord Nation: Boomers’ New Retirement Plan Is Millennials Paying Rent.

Tampa’s historic Mirasol apartment building sells for $10.4 million

The historic Mirasol apartment building near the entrance to Davis Islands has been sold and will continue as a multifamily rental property.

The price for the 58-room building, built in the 1920s, was $10,375,000, according to Frank Carriera, an agent for Carriera Regan of Marcus & Millichap, which represented both the buyer and seller. Carriera declined to identify the buyer, but said it is a local resident who wants to keep the property as is.

There was speculation that the Mirasol could be returned to its original use as a hotel or converted to condominiums. It became apartments in the 1950s.

The buyer plans to revitalize the interiors, exterior and amenities, Carriera said.

via Tampa’s historic Mirasol apartment building sells for $10.4 million | Tampa Bay Times.

Keyes Co., Illustrated Properties merger makes firm the largest independently owned real estate brokerage in Florida

The Keyes Co. and Illustrated Properties announced a merger on Wednesday, in a deal that makes the combined firm the largest independently owned real estate brokerage in Florida.

“It’s really two families coming together,” said Mike Pappas, CEO of Miami-based Keyes. “We will be maximizing each other’s strengths.”

The South Florida firms said they will continue selling homes under their existing names and will blend management teams and employees. Terms were not disclosed.

No job cuts or office closings are planned, Pappas said.

“That’s not our intention,” Pappas said. “It’s all about growth.”

via Keyes Co., Illustrated Properties merger makes firm the largest independently owned real estate brokerage in Florida.

Tampa launches $35 million redevelopment of Riverfront Park [Central Florida]

Monday wasn’t the first time Tampa has tried to do something bold and visionary and transformative at the 23 acres of Julian B. Lane Riverfront Park.

But at $35.5 million, City Hall has never put this kind of money into the effort.

“This park is not cheap,” Mayor Bob Buckhorn said at a mid-morning ceremony to kick of 18 months of construction at the park, which is just across the Hillsborough River from the David A. Straz Jr. Center for the Performing Arts. “But I think we also understand as a community the value of parks in our city. They are the common ground.”

It’s the biggest city project in West Tampa in decades, one that’s aimed at creating an urban park as active and popular as Water Works and Curtis Hixon Waterfront parks.

via Tampa launches $35 million redevelopment of Riverfront Park [Central Florida].