South Florida, especially Fort Lauderdale, has enjoyed a reputation as the yachting capital of the world and as a tourist mecca for the rich and famous. Consequently, much of the initial housing development focused on luxury high rise condominiums and single family waterfront homes. Recently, tech companies, financial institutions and health related industries have started… read more.
Real estate markets have cycles like the ebb and flow of the tides. We are currently in a cycle characterized by lots of building, major investor activity, and relatively easy money. On the flip side is a cycle where the market slows, investor interest is tepid, and finance rates rise. The last major growth cycle… read more.
Florida is one of the fastest growing states in terms of population. Recent data from the University of Florida’s Bureau of Economic and Business Research projects that Florida’s population will increase by 6 million for a total of nearly 26 million by the year 2030. More than half of this increase will occur in just… read more.
South Florida’s lifestyle and tax friendly environment continue to attract individuals and corporations from around the world. With international political and economic unrest, the United States is still considered a safe haven. Also the new U.S. tax law, limiting the mortgage interest deduction and deductions for state and local taxes (SALT), has been a positive… read more.
The Florida Council of 100 is comprised of business leaders representing more than 100 companies and more than 500,000 employees. One of its primary tasks is to help South Florida avoid the vulnerabilities that negatively impacted the area during the last recession. The Council’s latest report, called “Project Sunrise,” came out with a number of… read more.
There are many factors and statistics to look at when trying to determine the health of the local economy. One simple and un-scientific way is to simply note the increasing number of cranes on the Fort Lauderdale skyline. One notable place to see cranes at work is at the busy intersection of 17th Street and… read more.
The real estate market in Fort Lauderdale has experienced a record-setting pace of development over the past five years. A large number of condominiums and apartments have been built and many are still proposed or under construction. New hotels such as The Dalmar are open and construction is moving quickly on Main Las Olas, the… read more.
Historically, Florida has been at the top of the list for retirees, empty nesters and seasonal dwellers. Recently, it has been attracting high net worth individuals coming from states with onerous state and local taxes such as New York, New Jersey, Connecticut and California. N.Y. Governor Andrew Cuomo blamed a $2.3 billion dollar shortfall on… read more.
As defined by the Internal Revenue Service, an Opportunity Zone is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Opportunity Zones were added to the tax code by the Tax Cuts and Jobs Act on December 22, 2017. The intent is to bring opportunities to residents… read more.
As the year comes to an end, data from the Miami Association of Realtors and the Miami Multiple Listing Service is now available for the 3rd quarter 2018. We can now make some sales comparisons with 2017 vs 2018 and residential sales were up in Broward, Miami-Dade and Palm Beach counties. Broward County residential sales… read more.