News

Multifamily developers’ confidence dips in 1Q

05/30/17

WASHINGTON – May 30, 2017 – The Multifamily Production Index (MPI), released by the National Association of Home Builders (NAHB), dropped seven points to 48 in the first quarter of 2017.

The MPI has not had a reading of under 50 since the fourth quarter of 2011.

The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market, and the scale runs from 0 to 100. The index and all of its components are scaled so that a number above 50 indicates that more respondents report that conditions are improving; a number below 50 suggests that conditions are getting worse.

The MPI provides a composite measure of three key elements of the multifamily housing market: construction of low-rent units, market-rate rental units and "for-sale" units, or condominiums. All three components decreased in the first quarter: low-rent units dropped six points t

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Fla. businesses to see reduced biz rent tax in 2018

05/25/17

BOCA RATON, Fla. – May 25, 2017 – Gov. Rick Scott today signed HB 7109, which includes a reduction to Florida's business rent tax as well as other tax cut provisions.

2017 Florida Realtors®President Maria Wells, broker-owner with Lifestyle Realty Group in Stuart, spoke in support of the legislation at the signing, which took place during a morning press conference at 3Cinteractive Corp., a mobile marketing service provider in Boca Raton.

"Florida Realtors applauds Governor Scott and members of the Legislature for making these tax cuts possible for Florida families," Wells said. "From a Realtor perspective, I am particularly excited about the first-ever cut to the business r

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Realtors upbeat about commercial real estate outlook

05/22/17

WASHINGTON – May 22, 2017 – While challenges face commercial real estate markets, Realtors® specializing in the sector should have confidence that growth will continue, according to speakers at a commercial economic issues and trends forum at the recent Realtors Legislative Meetings & Trade Expo.

NAR Chief Economist Lawrence Yun led a panel discussion about the economic forces shaping commercial real estate markets. The panelists agreed that the market has improved and that continued growth in the economy will further drive activity, but difficulties remain regarding availability of financing for smaller commercial properties.

George Ratiu, NAR director of quantitative and commercial research, said that increased trade and the rise of e-commerce has boosted rents in the industrial and warehouse sector. "During a time of transformation in c

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Property tax cap heads to 2018 ballot

04/26/17

TALLAHASSEE, Fla. – April 26, 2017 – A top legislative priority of Florida Realtors passed on Wednesday. It gives voters the chance to make permanent a 10 percent cap in non-homestead property tax increases during the 2018 general election.

The passage of SJR 76/HJR 21 successfully ends a nearly year-long effort by Florida Realtors to get the proposed amendment on the 2018 ballot as early as possible so voters have time to learn about the many benefits the non-homestead tax cap provides.

"This is a huge win for Realtors throughout the state and we should all be very proud, but the hard work lies ahead," says Maria Wells, 2017 president of Florida Realtors. &

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Study: Fla. in top 5 for commercial development

04/11/17

NEW YORK – April 11, 2017 – Florida ranks fifth nationwide for commercial development, according to NAIOP, a commercial real estate development association. By sector, it's third in retail, third in warehouse/flex sectors and seventh in office space.

Development, construction and ongoing operations of new commercial real estate in the United States – office, industrial, warehouse and retail – supported 6.25 million American jobs and contributed $861 billion to U.S. GDP in 2016, according to the report, "Economic Impacts of Commercial Real Estate," published by the NAIOP Research Foundation.

To come up with U.S. statistics, researchers mea

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