Palm Beach County home construction highest since 2007

When the townhome community Hampton Cay has its grand opening today with three floor plan options and a “resort-style” clubhouse, it does so in the best market for new home construction in Palm Beach County since 2007.

The K. Hovnanian Homes development east of Florida’s Turnpike off PGA Boulevard comes online following a third quarter that saw building begin on 508 homes, a nearly 61 percent increase from last year and the most since early 2007 .

It’s still a third of the activity seen during a “normal” market, said Brad Hunter, chief economist with MetroStudy, which released the housing statistics in a report this week.

via Palm Beach County home construction highest since 2007.

With construction lag, Sarasota County housing stock ages

If the big one hits, it might be better to live in Manatee County than in Sarasota County.

A near hiatus in new construction after the credit collapse in 2008 has resulted in the average age of a Sarasota County home increasing by 16 percent, a factor that could impact how the area weathers the next hurricane.

It also appears to be providing a boost to industries, from hardware to plumbing, that are involved in remodeling and home improvements.

via With construction lag, Sarasota County housing stock ages.

Clearwater, Fla.: Coastal city a great value

With some 10,000 baby boomers reaching retirement age every day over the next 20 years, more potential retiree havens are rolling out the red carpet in an effort to attract them. Favored hotspot Florida may be groaning under the strain of development and comparatively high real estate prices while facing stepped-up competition from other retiree-friendly states, but for many on the verge of retiring, the Sunshine State is still the destination of choice.

Communities through the state know, all too well, that retirees come with a nest egg and often the proceeds from the sale of their homes in search of year-round sun, sand and surf and a social- and leisure-heavy lifestyle.

Hugging the Gulf Coast near Tampa is Clearwater, a city of just over 100,000 and a perennially popular choice. With a beautiful, vibrant downtown district overlooking an aquamarine harbor, clean powdery white-sand beaches and a large stock of affordable properties, Clearwater draws a steady stream of budget-conscious retirees and second-home owners.

via Clearwater, Fla.: Coastal city a great value.

Market Snapshot: Roberts Point on Siesta Key

When Capt. Louis Roberts and his wife, Ocean Hansen Roberts, made their home on Siesta Key (then known as “Sarasota Key”), the island was known for its mosquito swarms, snakes, wild cats and ornery wild boars. There was no bridge to the mainland, and everything had to be ferried out by boat.

The Robertses left more than their civilizing influence on the place. In 1906, they turned their large boarding house into a hotel that would become a magnet for the Eastern winter elite. Later, Hollywood royalty, including Cecil B. DeMille, Bette Davis and Charlton Heston, stayed and dined there.

The following year, the captain and two partners formed the Siesta Land Co., platted Siesta Village and gave the island the name it has had ever since.

via Market Snapshot: Roberts Point on Siesta Key | HeraldTribune.com.

The rental squeeze: Louisville renters feel the pinch of the economic downturn

Douglas Luckett, 29, of Louisville has been on his own since he was 16 years old, but the apprentice electrician has never found his income so stretched.

“It went from not so hard to getting rougher,” he said. “Each year, stuff keeps getting more expensive, but my pay’s not going up.”

What hits Luckett especially hard is his $600-per-month rent, which he pays by himself.

via The rental squeeze: Louisville renters feel the pinch of the economic downturn.

Large gated South Florida homes rented by Section 8 tenants

Here’s an odd side effect of South Florida’s foreclosure crisis: Some immense homes with pools and three-car garages in gated communities are being rented out to unlikely tenants — poor people paying with Section 8 aid.

Among the properties are homes with up to 4,500 square feet of space in private communities with guardhouses and regal names such as “Monarch Lakes” and “Bellagio at Vizcaya.”Some of the owners are teetering on foreclosure and gambling they can earn enough money from the federal housing vouchers to stave off the banks. Others bought the properties cheap in foreclosure auctions and want the guaranteed rental income.

via Large gated South Florida homes rented by Section 8 tenants.