Florencia Fontanella

08/05/2024

Financing Contingency: Frequent Q&A
What questions do you have about real estate? Call me, let's talk real estate 305-509-1585 [email protected].



















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Our Analyzing the Financing Contingency series takes a closer look at the Florida Realtors/Florida Bar financing contingency. The first article (which ran in June) provided an overview of the contingency and showed how the rights and obligations of parties shift as a contract progresses down differe...

07/04/2024

Top-10 Countries Searching MiamiRealtors.com in May 2024:

Country

Colombia 11.1%
Germany 10.6%
Canada 7.5%
Argentina 5.9%
United Kingdom 5.7%
Spain 5.6%
India 5.5%
Venezuela 4.9%
China 4.8%
Russia 4.2%
All other countries 34.2%

https://www.miamirealtors.com/2024/07/02/colombia-again-top-global-market-searching-miami-real-estate-virginia-is-the-new-top-state-searching-south-florida/

MIAMI — Colombia registered the most global web searches for South Florida real estate in May 2024, according to a new report by the MIAMI Association of REALTORS® (MIAMI). Virginia is the new top state searching Miami real estate, besting Georgia which had finished first for 14 consecutive month...

07/02/2024

Condos in FL:
The Department of Financial Services has been appropriated $30 million, by the Florida Legislature, to create the My Safe Florida Condominium Pilot program.
As the program details are developed, we will post updates throughout the development stages. Initially, Department staff will be conducting bids and awarding contracts to entities that will be running the day-to-day operations of the Pilot Program.
Subsequently, inspection and grant application forms and procedures must also be developed prior to launching the Program. It is anticipated that Program applications will not be publicly available for use until the Fall of 2024.
Pilot Program Reminders
This program is not for individual condo unit owners. Only Condo Associations are eligible to participate in this new pilot program. Only those associations who complete the Program’s application and approval process prior to starting construction, will be eligible for grant funding.
Application details are being developed. More details will become available as the MSFH team builds out the program for launch.
Stay tuned as we put together our plan for a successful condo pilot program. We are proud to say Stronger Homes. Safer Florida. More to follow.
– The MSFH Team
What questions do you have about real estate? Call me, let's talk real estate 305-509-1585 [email protected]
https://msflh.com/condos/https://msflh.com/condos/

07/02/2024

If you are a buyer, this is for you:

Builders are slowing the pace of new home construction. Single-family housing starts declined in May for the third straight month to the slowest pace since October. What questions do you have about real estate? Call me, let's talk real estate 305-509-1585 [email protected]

Builders are slowing the pace of new home construction. Single-family housing starts declined in May for the third straight month to the slowest pace since October.

07/02/2024

Home flippers typically earned a 30.2% gross profit nationwide before expenses on homes sold in Q1 2024, the real estate data company ATTOM found.

What questions do you have about real estate? Call me, let's talk real estate 305-509-1585 [email protected]

Home flippers typically earned a 30.2% gross profit nationwide before expenses on homes sold in Q1 2024, the real estate data company ATTOM found.

07/02/2024

“The market is at an interesting point with rising inventory and lower demand,” NAR’s Chief Economist Lawrence Yun said.

What questions do you have about real estate? Call me, let's talk real estate 305-509-1585 [email protected]

“The market is at an interesting point with rising inventory and lower demand,” NAR’s Chief Economist Lawrence Yun said.

07/02/2024

GREAT NEWS IN THE RE WORLD!

Some of the new laws that resulted from Florida Realtors' 2024 legislative priorities include more Hometown Heroes Housing and My Safe Florida Home funding.

What questions do you have about real estate? Call me, let's talk real estate 305-509-1585 [email protected]

Some of the new laws that resulted from Florida Realtors' 2024 legislative priorities include more Hometown Heroes Housing and My Safe Florida Home funding.

07/02/2024

Currently, Florida homeowners pay the highest property insurance rates in the nation, WESH reports, but relief is coming for customers of the approved insurers.

What questions do you have about real estate? Call me, let's talk real estate 305-509-1585 [email protected]

Three property insurance companies have been approved for rate decreases. Six others have filed for decreases in 2024.

07/02/2024

Even if mortgage rates fall, it doesn't necessarily mean that homes will become affordable for everyone you know. The median home resale price hit an all-time high of $419,300 in May (the latest data available), according to the National Association of Realtors. Meanwhile, the average mortgage rate in May was around 7%.

What questions do you have about real estate? Call me, let's talk real estate 305-509-1585 [email protected]

Mortgage rates may continue to gradually decline in July on falling inflation. But even if rates fall, it doesn't mean homes will become affordable for everyone.

07/02/2024

“This market has changed — like a metamorphosis — in the last five years,” said Brian Smith, executive managing director at JLL. “We have never seen vacancy so low for this long.”

Vacancy rates are higher for Miami-Dade’s neighbors. Broward has a 3.3% vacancy rate for its total 101.3 million-square-foot warehouse landscape. Palm Beach has a 2.9% vacancy rate for its total 48.7 million-square-foot industrial offerings.

As a result of high demand, rents have remained steady year-over-year. Miami-Dade has an average asking rent of $17.04 per square foot, $15.96 in Broward, and $14.82 in Palm Beach.

What questions do you have? call me, 305-509-1585

Although vacancy rates trailed behind Miami-Dade, demand also remained high for warehouses in Broward and Palm Beach counties.

06/27/2024

AirDNA reports that coastal area short-term rentals were 17% more popular among tourists than hotels. Short-term rentals also attract business travelers.

What questions do you have about real estate? Call me, let's talk real estate 305-509-1585 [email protected]

AirDNA reports that coastal area short-term rentals were 17% more popular among tourists than hotels. Short-term rentals also attract business travelers.

06/27/2024

Brian Donovan, chief actuary for Citizens, said the insurance market has seen “drastic improvements” during the past year, after lawmakers passed an overhaul that included curbing lawsuits against insurers.

What questions do you have about real estate? Call me, let's talk real estate 305-509-1585 [email protected]