In its debut rent tracker report, the National Multifamily Housing Council reported that 69% of households had paid their rent, either partially or in full, by April 5, compared to 81% that had paid by March 5, 2020. The rent tracker is based on data from 13.4 million rental apartments. The association has partnered with several firms to create this metric, including RealPage, Yardi and Entrata. This increase in nonpayment comes as little surprise given the millions of people thrown out of work over the pa
With the onset of the pandemic, real estate agents say deals that were in the works are encountering all types of problems, creating havoc in the market as buyers try to back out of contracts. But can buyers cancel due to COVID-19? Real estate lawyers said there isn’t a clear answer.
Real estate agent Kevin Dickenson’s clients had a deal to sell their $3 million Boca Raton house in March.
Then the coronavirus pandemic exploded, and suddenly the home’s buyer announced he wanted out.
Did the sellers let the buyer walk?
Ask U.S. retirees what worries them most — as a recent survey by the American Institute of CPAs just did — and “running out of money” is the answer that will most likely top their lists. But homeowners over 62 who have substantial equity in their properties have an extra tool at their disposal that can minimize that anxiety. A reverse mortgage will allow them to extract that equity by delivering funds that could keep them calm and out of financial trouble. But could the payments from a reverse mortgage
Naples Reserve residents have realized that something special has been created in their South Naples community, developed by iStar and consisting of 688 acres that feature Southern Coastal-inspired attached villa, single-family and custom estate homes. A dozen couples have fallen in love with Naples Reserve so much that they’ve purchased not one but two homes in the award-winning community.Randy Sparrazza and his wife, Lucy, originally moved from a Naples condo into a D.R. Horton home in the Savannah Lake
When Hurricane Dorian brushed by Volusia and Flagler counties last week without causing major property damage, residents felt a sense of relief. But the storm’s effect has been quietly brutal for hotels, restaurants, attractions and other businesses tied to the area’s tourism economy. While no one has an exact figure, area experts believe the loss to hotels alone amount to tens of millions of dollars. Add in restaurants and their employees, and the losses are much greater. “It’s huge,” said Rob Burnetti,
South Florida’s ever-rising rents can be a pain, but a wave of new apartments may help keep rent prices from skyrocketing, according to a national survey.In a favorable sign for millennials and new arrivals seeking housing, South Florida ranks fourth nationally in 2019 apartment construction, with more than 13,000 new units coming online by year’s end. “As it usually happens, whenever the apartment supply is abundant, there’s a certain slowdown in rent growth,” said RentCafe analyst Florentina Sarac.Ren