Recent articles worth a read:
- April 2024 Investor News
Gen Z Will Pay $23k More For Rent Than Millennials
A study by RentCafe determined that Tampa Bay Gen Z renters will have a higher rent burden, but earn more income. Read More…High Interest Rates Remain Obstacle to Development
A survey of Tampa Bay architects — often the first sector to begin work on development projects — determined that interest rates will slow RE development.Read More…Renting Will Remain Less Expensive Than Buying a Home
With average mortgage payments 38% higher than average apartment rents as of year-end 2023, many U.S. households continue to rent. Read More…Tampa Leads Housing Markets with Largest Price Reductions
An increase in inventory & uptick in price reductions has affected 34 out of the 50 largest metros.Read More…St. Pete Airbnb Sleuth Floods City with Complaints
Armed with reverse image search and aggrieved by St. Petersburg’s unaffordable housing market, Ms. Price has become a thorn in the side of Airbnb owners. Read More… - February 2024 Investor News
Tampa Rent Prices Fell Slightly In 2023
Median rent fell by 0.4 percent in 2023, according to a study by Apartment List. Read More…Meet The Typical Mover to Florida
Millennials and Gen Xers making $55,000 coming from New York and California.Read More…Renting A Home Still More Affordable Than Owning
Median rental rates still require a smaller portion of average wages than major home-ownership expenses. Read More…Meet One Of The Nation’s Epicenters For Institutional Homeownership: Tampa
Tampa is one of six markets that are home to more than 1/3 of all the nation’s institutionally owned single-family residences.Read More…5 Lessons Learned For Office Conversions
No more than 6.9% of office space in urban areas in the U.S. is likely to become apartments because of a range of factors. Read More… - November 2023 Investor News
Tampa, St Pete Renters Would Get Moderate Space in Home Buying
Renters in Tampa, making the switch from rent to monthly mortgage, could afford 991 square feet. St. Petersburg renters would get 895 square feet. Read More…Tampa Bay’s Housing Market is Slower, not Cheaper
Homes sold in 49 days on average this year, compared to 17 days last year. Read More…9 Out of 10 Maturing Office CMBS Loans Defaulted in September
Defaulting office loans in September totaled $672M, with $83.7M of maturing loans paid off.Read More…
How St Petersburg is Helping Residents Facing Eviction
St. Pete City Council funded $300,000 to the pro-bono Community Law Program.Read More…Florida Condo Market Braces for Impact of New Safety Law
Florida Senate Bill 4-D requires stricter inspections and prohibits condo associations from waiving maintenance reserve funds. Read More… - September 2023 Investor News
Rent Increases are Cooling in Tampa Bay
Rent has risen only 4.3% year-over-year, a reduction from the pandemic when rents increased more than 25% amid heavy population growth. Read More…As Insurance Costs Rise, Property Owners Consider Self-Insurance
This scenario could create trouble for the property owner and their tenants whose belongings get wiped away.Read More…High Mortgage Rates Lead to New-Build Boom
Sales of existing homes slid 19% from last year, while new home sales soared 24%. Read More…Why Are Rents Still Sky-High?
In short: a significant increase in household formation as roommates have broken apart.Read More…Rising Condo Fees Cause Chaos in Tampa Bay’s RE Market
A new law requires condo buildings to conduct engineering studies & set aside money for structural repairs before 2025. Read More… - July 2023 Investor news
Tampa Bay Households Doubling Up as Housing Need Grows
Tampa had an average of about 1.6 “doubled up” families per unit with a deficit of 28,000 units. Lakeland’s rate was a bit higher, at 1.9 families per unit but a deficit of 7,000.Read More…Two Bankers Talk Getting Deals Done
Trey Korhn & Vince Chillura of Valley Bank review how to place debt in an increasingly uncertain lending environment. Read More…Tampa Residents May Need at Least $85k to Afford Rent
Tampeños who make $84,750.12 or less are considered “rent burdened,” meaning they spend at least 30% of their income on rent. Read More…Jeff Brandes Thinks He Can Solve Florida’s Housing Crisis
Former state senator Brandes wants local governments to address the issue through zoning changes.Read More…Looking to Sell Your Home for Cash? Read This First.
Cash home buyers like the “We Buy Ugly Houses” company offer a quick and convenient sale to homeowners. Read More…