Florida laws tied to HOAs, condo-hotels, insurance go into effect July 1

Florida laws tied to HOAs, condo-hotels, insurance go into effect July 1

Half a dozen new Florida real estate-related laws will go into effect on Monday, following this year’s legislative session. Gov. Ron DeSantis signed bills into law that deal with long-controversial issues such as the governing structure at condo-hotels and the lack of oversight at residential communities governed by associations. Another new piece of legislation aims to help homebuilders obtain building permits. Late Thursday, DeSantis vetoed a bill tied to the controversial issue of short-term rentals. [Source: The Real Deal]

Here's when you can begin applying for My Safe Florida Home program

After months of waiting, homeowners in the Sunshine State will finally be able to access the My Safe Florida Home program on Monday. The widely popular program, touted as a way to lower home insurance premiums, is relaunching with $200 million in funding that will go to $10,000 grants to homeowners to make storm-related improvements on their homes. [Source: WPTV]

3 Florida cities where you can buy homes for $100,000 or less

The price of buying a home in Florida has skyrocketed over the past five years, with the average home value sitting at almost $400,000 in June, according to Zillow. It’s $399,944, to be exact, up from $242,000 in June 2019, based on the Zillow figures. Floridians interested in buying their own places in the Sunshine State might feel squeezed out by the prices, but residents still can find homes and condominiums for less than $100,000. [Source: Yahoo Finance]

DeSantis vetoes farmworker housing bill, says it lacks enforcement related to illegal workers

As affordable housing continues to challenge policymakers, Gov. Ron DeSantis has nixed a push for agriculture employers to house workers. The Republican Governor vetoed legislation (SB 1082) that would have preempted any local restrictions that would inhibit construction of housing for workers on agricultural land. DeSantis in a veto letter signaled a concern that the policy would spur hiring undocumented workers at Florida farms. More from Florida Politicsand CBS News.

Two Florida cities among best for Realtors

When it comes to selling houses, not all cities are created equal. Lucky for agents in Tampa and Jacksonville, their cities are among the best in which to operate, according to a new study. Clever Real Estate ranked Tampa No. 4 and Jacksonville No. 7 among the best U.S. cities for real estate agents. The firm looked at a variety of metrics that affect a Realtor’s career, including housing affordability, annual salary, number of agents per 100,000 residents and annual home sales per full-time agent. [Source: South Florida Agent Magazine]

ALSO TRENDING:

› $2.1 billion sale of apartment communities includes Florida properties [Business Observer]
KKR, a global investment firm, has bought more than 5,00 apartment units across the U.S., including some in Florida. The firm paid $2.1 billion for the portfolio from Quarterra Multifamily, which is made up of 18 properties in Florida, California, Washington, Texas, Georgia and North Carolina. It announced the purchase late Tuesday.

› Is Tampa Bay a buyer’s or seller’s market? Some say it’s a ‘no man’s land’ [Tampa Bay Times]
After a sluggish winter season, home sales have begun to pick back up in the Tampa Bay region. The Tampa Bay area saw a 1.7% increase in single-family home sales compared to this time last year, according to May data from Greater Tampa Realtors. There was also a 5.5% increase in April, the first uptick after six straight months of declining year-over-year sales.

› Charlotte County home prices slip in May while some areas retained strength [Gulfshore Business]
Single-family homes for sale in Charlotte County experienced more price reductions in May, while in some areas selling prices remained steady. Meanwhile, condominium and townhome prices decreased amid rising HOAs based on assessments from hurricane damage coupled with an inventory buildup. Selling prices remained strong in Punta Gorda Isles and Burnt Store Isles, said Leanne Walker, president of Realtors of Punta Gorda-Port Charlotte-North Port-DeSoto Inc.

› This $135 million South Florida estate is like its own luxury resort [Forbes]
Few regions in the U.S. hold more appeal than South Florida, from Palm Beach and Fort Lauderdale to Miami’s many offerings. Each neighborhood in Miami has its own unique character, charm, and allure, but Coconut Grove is considered one of the most picturesque and affluent neighborhoods. It comes as no surprise, then, that Coconut Grove is a popular home for billionaires and celebrities. Should you have $135 million to spare, Coconut Grove’s most expensive home recently hit the market.

Tags: Real Estate eNews

Previous Real Estate Updates:

• Reinsurance picture improves for Florida
• Clouds rising over banks? As interest rates stay high, FAU survey handicaps risks for lenders with big books of commercial loans
• Florida house prices slashed by 1 in 4 sellers
• Is Florida's property insurance market ready for 'hyperactive' hurricane season?
• Florida's property insurance market seems to be improving
• Florida down payments plunge as people rush to sell houses
• As the Northeast housing market heats up, Florida's is cooling down