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Investors set their sights on home rentals in South Florida

Forget building equity over decades and decades. Increasingly, leasing a house over a much shorter span is the norm in South Florida, where the renting of suburban-style houses appears to be on an upswing, potentially leading to pressure on home prices. “The single-family rental market is extremely strong, and historically so,” said Yoni Dahan, the founder of World Class Realty, an Aventura-based firm that renovates and leases rental houses. “If the trend could be charted, it would show a curve that’s going up.” For many would-be buyers, housing prices are too steep and interest rates are climbing, while wages seem stuck, according to developers, investors and brokers. Such conditions make renting attractive. Adding to demand, brokers said that the new federal tax law — which ...

Sunrise Florida wakes up with new development

Broward County issued an RFP for “a phased, 10-year buildout” of 140 acres of surface parking space around the arena. Broward County is hoping to score a win for its 20-year-old arena, the BB&T Center, home of the National Hockey League’s Florida Panthers. In September, the county government was in the process of selecting a private firm to produce a master plan for the redevelopment of approximately 140 acres of surface parking space around the Sunrise arena. Finding feasible ways to repurpose all that arena parking won’t be easy, though, because new hotel rooms, residential units and offices are already being developed at properties nearby, including the 32-acre, mixed-use Westerra project and the 65-acre Metropica megaproject. “There’s a lot of stakeholders involved,” said Lary Mahoney, ...

Palm Beach Gardens approves 24-house development near the FL Turnpike by Mirabella

The Palm Beach Gardens city council approved construction of 24 houses on a seven-acre site next to an existing residential community. Mayor Maria Marino voted with majority of the council in favor of the residential project, which she called a well-conceived development that won’t reduce the values of nearby properties. Parkwood Distinctive Homes of Gainesville plans to build the houses on a site west of Florida’s Turnpike on Hood Road that spans about seven acres. Parkwood bought the Palm Beach Gardens development site last year for $2.55 million. Residents of a neighboring residential community called Mirabella complained that the planned home-building project would put new two-story houses near existing one-story houses at Mirabella, and would add be an excessive addition to nearby residential development activity, ...

Up-size Your Home to Make Your Home-Based Business Work For You

Photo By: Pixabay You’ve likely heard of the downsizing trend, but up-sizing is a trend as well. Many families are finding that their current humble abode just doesn’t provide enough space, and if you add a home-based business to the mix, square footage is a hot commodity. Rather than deal with the stress of having your work overflow into the living room, kitchen, bedroom, etc., consider up-sizing your home so that you and your business have room to grow. Understand Your Finances Everyone knows that buying a home is a huge investment, and most people take out a mortgage loan to fund at least part of their purchase. Just remember that if you’re in the process of applying for a small business loan, this will ...