News

Homes in gentrifying neighborhoods a good investment

08/19/16

MIAMI – Aug. 19, 2016 – A tight inventory of for-sale homes has forced some buyers to look beyond traditionally hot neighborhoods, and an uneven real estate recovery has created some areas that are diamonds in the rough. In a gentrifying neighborhood, new buyers fix up older homes that, in turn, attract more remodel-ready buyers and new businesses.

For real estate investors and homeowners, these gentrifying neighborhoods not only represent a great place to live, but their initial property investment could rise above the metro area norm as the area improves.

But how do investors and buyers identify these gentrifying neighborhoods?

RealtyTrac – now an ATTOM Data Solutions company – analyzed data in 3,561 U.S. zip codes with a combined population of 124 million to select the 35 best "bad" neighborhoods to buy a home. Four of those 35 zip codes are in Florida.

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Fla. population expected to reach 20.7M this year

08/16/16

ORLANDO, Fla. – Aug. 16, 2016 – Cushman & Wakefield released their inaugural Florida Population Report, an examination of population trends and its economic impact in Florida.

The report, compiled by Cushman & Wakefield's Research Team, analyzes population growth, employment levels, home values and retail sales activity in Florida's eight major markets – Fort Lauderdale, Fort Myers, Jacksonville, Lakeland (Polk County), Miami-Dade County, Orlando, Tampa-St. Petersburg and West Palm Beach. It issued a statewide report and individual reports for each of the eight markets.

Key report findings

  • Florida's population will reach 20.7 million by the end of 2016. In 1910, the state had a population of 1 million people; by 1980 it grew to 10 million. Since then, the population has doubled.
  • Florida's population

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TaxWatch: Fla. beating pre-recession job growth

08/11/16

TALLAHASSEE, Fla. – Aug. 11, 2016 – After a debilitating recession from 2007 to 2009 that cost thousands of people their jobs, Florida is again among the national leaders in job creation at the halfway mark of 2016, according to the latest Economic Commentary by Florida TaxWatch. And most housing industry experts say that job increases are one of the best predictors of a strong housing market.

The nonpartisan taxpayer research institute found that Florida's total non-farm employment grew 3.03 percent over the past 12 months; the state has added approximately 244,500 non-farm jobs and Florida's overall employment is among the highest in the state's history.

Through the first six months of 2016 alone, Florida has added 113,000 non-farm jobs and has seen its unemployment rate drop to 4.7 percent from 5.1 percent.

Nearly all non-farm industries in Florida have seen their employment nu

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In 6 Fla. cities, 1 out of 3 renters could be buyers

08/05/16

WASHINGTON – Aug. 5, 2016 – The U.S. homeownership rate has slowly fallen in recent years to currently its lowest level since 1965, but research from the National Association of Realtors® (NAR) find that there are affordable metro areas right now with above-average hiring and a large segment of current renters who earn enough income to qualify to buy a home.

Two Florida cities make NAR's top 10 list of national metros with a high number of renters who can afford to enter the market: Lakeland and Tampa, where more than two out of five renters qualified to buy a home. Nationwide, NAR says one out of five renters (21.9 percent) qualify.

For the study, NAR reviewed employment growth, household income and qualifying income levels in nearly 100 of the largest metropolitan statistical areas across the country to determine which areas with employment g

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Florida consumer sentiment up 4 points in July

07/29/16

GAINESVILLE, Fla. – July 29, 2016 – Consumer sentiment among Floridians increased in July to 93.7, according to the latest University of Florida consumer survey.

This reading is four points higher than June's revised figure of 89.7, turning upward after three straight months of declines and marking the second-highest reading over the past year.

Of the five components that make up the index, four increased and one decreased.

Perception of one's personal financial situation now compared with a year ago increased three points, from 83.5 to 86.5. Opinions as to whether now is a good time to buy a big-ticket item like an appliance or car rose by 7.4 points, from 96.5 to 103.9.

"The upturn in these two components suggests that Floridians' opinions about current economic conditions have improved considerably despite the uncertainty experienced recently due to the U.S. pres

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