Real estate websites want to buy straight from homeowners. But is it really a good deal?
With big marketing budgets, venture capital funds and promises of quick and easy sells, direct home buying companies such as Opendoor, Offerpad and Zillow Offers are becoming a major force in the Florida real estate world. Real estate tracking website Zillow said recently that it plans to launch its Zillow Offers program later this year, which is a similar program to Opendoor that buys homes directly and puts them back on the market. [Source: Orlando Sentinel]
Polar vortex has home-searchers dreaming of escape to Florida
All this shivering from the polar vortex has folks dreaming of life in the sunshine. In Chicago, where it was minus-23 degrees Fahrenheit (-31 Celsius) on Wednesday, searches for real estate in Florida were 62 percent higher than a typical Wednesday in the past month, according to Realtor.com. [Source: Bloomberg]
Cyber fraud risk is rising in Florida and commercial real estate transactions
Florida typically experiences a higher than average incidence of mortgage fraud and other types of real estate transaction fraud, forgeries, etc. So, it is not surprising that cyber and wire fraud is prevalent in Florida. [Sponsored report]
Tampa Bay has ‘room to run’ as one of nation’s top 10 markets for real estate investors this year
Strong job growth, tax law changes and an increasingly youthful population are among the factors making the Tampa Bay area far more attractive to investors than it was a decade ago. And while the U.S. economy shows signs of slowing, the bay area is an enviable position. [Source: Tampa Bay Times]
See the states where residential agents are earning top dollar
Did you know being a residential real estate agent in Alaska could pay better than Florida, Illinois or California? A new ranking from Forbes shows agents working in New York make the most money, while agents in Ohio earn the least. Florida agents took home a mean annual wage of $57,520. [Source: The Real Deal]
STAT OF THE WEEK
Real estate investor Ben Mallah bought a gulf-front mansion Thursday for $16.5 million, by far the most ever paid for a residential property in the Tampa Bay area. [Source: Tampa Bay Times]
› Jacksonville ranked in top 10 as city to watch for homebuilding [Jacksonville Daily Record]
An annual report that tracks national and Canadian real estate development and investment trends ranked Jacksonville as one of the top 10 areas to watch for homebuilding prospects but ranked it lower in overall real estate prospects.
› Here’s what’s new on Tallahassee’s commercial real estate scene in 2019 [Tallahassee Democrat]
A round up on the latest scoops in Tallahassee real estate. It includes what companies are coming to town and who is moving into what commercial spaces. Here is the latest edition.
› Gulf Coast real estate industry: confidence is high [Business Observer]
In some markets in the region, the power has shifted to the buyer — hello, more inventory. But from Naples to Tampa, real estate agents ooze optimism. A deeper look at three markets in the region — Tampa-St. Petersburg-Clearwater; Sarasota-Bradenton; and Fort Myers-Naples — reveals several other core themes.
› Florida East Coast Realty’s $425M Panorama Tower refi is among city’s biggest [The Real Deal]
Florida East Coast Realty closed on a $425 million refinancing of Panorama Tower, one of the largest such loans in Miami in recent years. Wells Fargo financed the new debt, which replaces the $340 million construction loan the bank provided on the 85-story tower in 2015.
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