Luxury condo reservations are brisk in downtown St. Petersburg | Tampa Bay Times

Reservations for One St. Petersburg, a 41-story condo tower planned for the city’s thriving downtown, have “far surpassed expectations,” the project’s sales director said Wednesday. Since marketing began a few months ago, 104 of the 253 luxury units have been reserved, representing total sales of $106 million, according to Dave Traynor of Smith & Associates.

The response shows the robust demand for luxury residences near the downtown waterfront with its plethora of restaurants, museums and shops. Two other proposed downtown condos — the Salvador and Bliss — have also generated presales and plenty of buzz.

Looming 450 feet above First Street at First Avenue N, One St. Petersburg will be the tallest building in the city and among the tallest in the entire Tampa Bay area.

via Luxury condo reservations are brisk in downtown St. Petersburg .

4 Places to Own a Retirement Home and Rent it Out

A retirement home overseas can be much more affordable if you rent it out when you’re not using it. If you don’t plan to be in residence for the entire year, being able to rent your house or apartment to holiday-goers can help cover the costs of owning and maintaining the property. It could even provide cash flow to supplement your retirement nest egg.But finding renters can be a challenge in seasonal retirement spots. In a locale where some times of the year are much more appealing than others, you’ll want to take advantage of the nicest seasons, but those are also the times when you would have the easiest time finding renters.

In places where local services, amenities and shops shut down for part of each year, this can be an even greater conflict. You’ll be tempted to take off traveling, perhaps for a return trip home to visit with your family during the off-season weeks or months, but these are the months when you’ll have the toughest time renting out your property.

via 4 Places to Own a Retirement Home and Rent it Out.

For seniors, a high-end boom in rental housing

Tucked beside the Maine Turnpike, across from the Maine Mall, is the site where Resort Lifestyle Communities plans to build its version of senior citizen nirvana.

The 128-unit housing complex would feature fully equipped luxury apartments, social programs and shuttle service, along with a pharmacy, bank, hairdresser, gift shop, health club, movie theater and two restaurants offering 24-hour casual or fine dining.

All-inclusive rents would range from $3,000 to $4,000 a month, depending on the number of bedrooms, with a $600 monthly fee added for a spouse or other secondary resident.

via For seniors, a high-end boom in rental housing [Central Maine].

Forced Sellers Could Get More in Florida

Florida lawmakers are considering closing a legal loophole that allowed real-estate investors to force some condominium owners to sell their units for less than they paid for them.

Bills in Florida’s House and Senate seek to force bulk buyers of condo complexes to pay more for the holdout properties needed to complete a transaction and convert complexes to apartments. Under Florida law, a complex’s condo status can be terminated under certain circumstances, where a bulk buyer is then allowed to forcibly buy out any holdouts.

via Forced Sellers Could Get More in Florida.

Developers moving in on Florida mobile home parks w/video

Not so long ago, Rainbow Court mobile home park was a peaceful, pleasant community of senior citizens.Today it is a Mad Max, dystopian landscape of broken and abandoned trailers.Windows are shattered, some hammered over with plywood.

Doors open to rooms stripped of everything that could be carted away. All is eerily quiet but for the occasional shouts of one man drunkenly accusing another of stealing what little is left.Soon, they and the few remaining residents will be gone, too.

via Developers moving in on Florida mobile home parks w/video.

Real Estate Rivals: Where In The U.S. Are Most Homes Cash Buys?

While all-cash purchases are accounting for a smaller share of U.S. homebuying than they used to, they’re still high: about 36% in the latest-recorded month, November. A year earlier, the total was 39%.House hunters face the most cash competition in Detroit and South Florida, says an analysis by real estate data firm CoreLogic.

The analysis notes that the peak of cash buying came in January 2011, when cash deals made up about 46% of all home sales.Investors or other buyers with cash in hand can be formidable rivals to homebuyers who have to get a mortgage approval lined up in order to complete their purchase.

via Real Estate Rivals: Where In The U.S. Are Most Homes Cash Buys?.