After an exhausting Van Halen world tour in 1995, musician Sammy Hagar wanted nothing more than to spend a week relaxing in Hawaii. One week turned into two, two turned into a month and soon, the Red Rocker started looking for a home to buy.His wish list was long: 10 acres of land, a pool and spa, a guesthouse, space for a recording studio and access to Hawaiian fruits and vegetables growing on the grounds.One Maui property fit the bill, and he snatched it up on sight. Now, after 22 years of ownership, Hagar is ready to say goodbye, listing the oceanfront villa for $3.299 million.
Source: Rock star Hagar ready to say goodbye to Maui retreat
There has been some very heavy Hurricane Irma cleanup and repair costs for many Southwest Florida condominiums and neighborhoods. Of course none of these unexpected costs were in the association’s budget for this year. So, how are associations going to pay the Irma damage and repair bills coming due?There are basically three ways to pay these bills: Borrow from the bank, raise the regular assessments in the 2018 budget, or levy special assessments. As most associations don’t want to pay bank interest unless necessary, and they also don’t want to raise regular assessments that much year to year, the most chosen method we are seeing associations using is levying special assessments.
Source: Does association need to levy a special assessment for Irma damage?
South Florida condominium developers are decreasing the deposit requirements for buyers, but why is up for debate. Buyers who want to buy at Canvas, a 513-unit building rising at 1630 NE First Ave. in Miami; Aria on the Bay, a 648-unit tower rising at 1770 N. Bayshore Drive in Miami; and Riva, a 100-unit building completed in Fort Lauderdale, can put down 20 percent. That’s less than the previous requirement of 50 percent, although Riva previously required only 35 percent. Aria’s developer, the Melo Group
Source: South Florida Condo Developers Open Door to Lower Deposits
If you work hard to put a roof over your head, then you will want to listen to what Dave Roodvoets has to say.With 35 years of experience studying hurricane damage, he is an expert on roofs, and, of special interest to Floridians, why they fail in windstorms.Roodvoets is a leader of the Roofing Industry Council on Weather Issues (RICOWI), which sends teams to disaster areas so the damage may be inspected and the cause of failures determined. He has worked with the Florida Code Alliance and is a member of the RICOWI wind and hail investigation teams.
Source: HAROLD BUBIL: Florida’s newer roofs passed the Irma test
Last spring, Ryan Tarrant applied for a job with the new Hyatt Place nearing completion in downtown St. Petersburg. Among the questions an interviewer asked:What does this hotel need to succeed?”I said, you’ve got to be involved with the arts,” Tarrant recalls.
“You have to have craft beers. You have to have craft cocktails because the craft cocktail scene is really big here. You have to have local coffee.”That answer made an impression: Kolter Hospitality hired Tarrant as sales director of the 175-room hotel that opens Tuesday with craft beer on tap, a craft cocktail bar with outdoor seating and a meeting room named for the James Museum of Western Art right across the street. Locally made Black Crow coffee will be available as part of the hotel’s banquet services.
Source: St. Petersburg’s newest hotel opens with craft beers, cocktails and Cozy Corners
Thinking about buying that cabin in the woods your family enjoyed over the weekend?There are two ways for determining how much cash you can afford to put toward a second residence solely for your personal use or part-time rental.The first is the asset method. Start by taking stock of your present wealth. Create a balance sheet of your assets and liabilities.
Don’t forget to include the equity in your primary residence, even though you may be dead-set against borrowing against the roof over your head. Homes are no longer cumbersome and difficult-to-liquefy assets, thanks to the integration of home equity lending with other financial opportunities.
Source: Tom Kelly: Second home? How to determine what you really can afford