Inside South Florida, the latest in the news in real estate to stay up-to-date, ahead of the curve in less than 5 minutes.
April 18th 2022 | Issue 5
Smart Cities
Itron is launching an online marketplace that enables cities to explore field-proven and pilot-ready smart city solutions from third parties.
The critical infrastructure solutions specialist aims to streamline the process of identifying and learning about solutions that can help cities and utilities continue to digitally transform and better serve their citizens and customers.
Homebuyers Moving
A record number of homebuyers are departing from coastal cities like Los Angeles and San Francisco for states like Florida as inflation surges and the housing market shows early signs of a slowdown.
Redfin, a real-estate brokerage, released a report showing that 32.3 percent of users were looking to move to a different metropolitan area in the first quarter of 2022, up from 31.5 percent a year ago and 26 percent in 2019.
Millennials
Millennials Selling 1st Homes May Lead Inventory Boost, according Realtor.com,64% of possible sellers intend to list their home by Oct.; a majority of these sellers (49%) are ready to swap starter homes for larger ones. Read More
Venture Capital
Last week venture capital investments in proptech companies increased by 99.56%. $449 million was invested across 12 companies at a median funding amount of $7.7 million. Some of the largest rounds of funding went to commercial property management, finance, construction, residential, and others.
Transportation
A $10.6 million agreement between EAC Consulting Inc. and the Florida Department of Transportation will shift to Miami-Dade County and lead to design plans to replace 11 bridges on the historic Venetian Causeway from North Bayshore Drive in Miami to Purdy Avenue in Miami Beach. Read More
Homeowners Association
“These groups, called homeowner associations, spend much of their time enforcing rules related to things such as lawn care and parking. But they often have broad powers to regulate how homes are used. Some of these associations now believe that the rise in home purchases by rental investors has led to a decline in property maintenance and made their neighborhoods less desirable. Investors are also making it more difficult for local families to buy houses, these groups say. Homeowner tactics include placing a cap on the number of homes that can be rented in a particular neighborhood, or requiring that rental tenants be approved by the association board. In most cases, associations need at least a two-thirds majority to pass these measures.”
Source :The Wall Street Journal)