Latest news with #MichaelL.Hyman
Miami Herald
09-04-2025
- Business
- Miami Herald
How is the South Florida real estate market changing in 2025? Note 5 shifts
Real Estate News How is the South Florida real estate market changing in 2025? Note 5 shifts The real estate market in 2025 is addressing affordability, density and lifestyle. Development of luxury condominiums, like the Soreno Fort Lauderdale, highlights growing demand for amenities catering to both domestic and international buyers. And projects such as Miami-Dade's Upland Park and Little River redevelopment reflect a push toward transit-focused communities and mixed-income housing to balance suburban sprawl with urban needs. But rising HOA fees and contentious foreclosure practices are bringing attention to mounting financial pressures on homeowners. Take a look at five trends on the local real estate landscape. The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories below were reported, written and edited by McClatchy journalists. With headlines about condo associations and HOAs foreclosing on owners over unpaid assessments and other fees, state legislatures have been to address the situation. NO. 1: HOA, CONDO ASSOCIATION GROUP WEIGHS IN ON FORECLOSURES OVER UNPAID ASSESSMENTS, FINES Condo boards and HOAs foreclosing over unpaid fees getting attention in state legislatures. | Published January 2, 2025 | Read Full Story by Michael L. Hyman A rendering shows the location of Upland Park, a self-contained community of 2,000 apartments, offices, shops, a hotel and a school planned for two separate, publicly owned properties at the intersection of the Florida Turnpike and State Road 836 in Sweetwater in west Miami-Dade County. The portion at bottom right is the site of the Dolphin Station park and ride. NO. 2: CAN A BIG 'TRANSIT COMMUNITY' AT A WEST MIAMI-DADE BUS STATION EASE TRAFFIC WOES? 'It's sort of, if you build it, they will come.' | Published January 22, 2025 | Read Full Story by Andres Viglucci Home buyers should review fees for homeowners and condominium association fees to see if the amenities are worth it, including pool, gym, clubhouse. NO. 3: ARE FEES FOR CONDO AND HOMEOWNER ASSOCIATIONS WORTH IT? ASK YOURSELF THESE QUESTIONS What buyers should know about the expense. | Published January 28, 2025 | Read Full Story by LEW SICHELMAN Integra Investments, a Miami-based real estate development firm, and co-developer Flying Point announced plans for Sereno Fort Lauderdale, a luxury condominium with prices starting at $1.4 million. The building offers 360 views of nearby parks and Atlantic Ocean. NO. 4: 'LUXURY COASTAL LIVING': MIAMI DEVELOPER BRINGING 14-STORY BUILDING TO FORT LAUDERDALE Love the 'Fort Lauderdale active lifestyle'? A new development is coming to town | Published March 20, 2025 | Read Full Story by Amanda Rosa Renderings from the Swerdlow Group show a Main Street-style commercial and residential district and the entrance to a new Tri-Rail commuter station that would be built under a massive proposal that aims to transform a broad swath of Miami's Little River-Little Haiti neighborhood. NO. 5: NOW WITH MORE AFFORDABLE HOUSING, MASSIVE MAKEOVER PLAN FOR LITTLE RIVER WINS APPROVAL 'Everyone for 20 blocks in every direction is going to gain a lot from this. It's going to be very good for everybody,' the developer says. | Published March 28, 2025 | Read Full Story by Andres Viglucci This report was produced with the help of AI tools, which summarized previous stories reported and written by McClatchy journalists. It was edited by journalists in our News division.
Miami Herald
04-04-2025
- Business
- Miami Herald
7 trends and updates shaping the South Florida real estate market in 2025
Real Estate News 7 trends and updates shaping the South Florida real estate market in 2025 The South Florida real estate market is undergoing transformation in 2025 due to shifting policies, economic forces and housing needs. The condo sector faces rising costs and regulatory challenges, with new laws requiring financial reserves and mandatory inspections intensifying financial strain on owners. High assessments and foreclosure risks tied to unpaid dues reveal the burdens on residents. Meanwhile, rental prices are softening slightly but remain far above national affordability benchmarks, underscoring the region's persistent cost-of-living pressures. Luxury housing developments, buyout disputes and attempts to balance community benefits with redevelopment, as seen in projects like the Deauville Hotel reconstruction, highlight the complex interplay of preservation, growth and demand. The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories below were reported, written and edited by McClatchy journalists. With headlines about condo associations and HOAs foreclosing on owners over unpaid assessments and other fees, state legislatures have been to address the situation. NO. 1: HOA, CONDO ASSOCIATION GROUP WEIGHS IN ON FORECLOSURES OVER UNPAID ASSESSMENTS, FINES Condo boards and HOAs foreclosing over unpaid fees getting attention in state legislatures. | Published January 2, 2025 | Read Full Story by Michael L. Hyman Aerial view of the Caribbean Breeze Condominium, bottom-center, on Monday, July 29, 2024, in Sunny Isles Beach, Fla. Some residents at the condominium pay over $800 a month in homeowners association fees, which has increased year after year. Some residents said they could not afford higher payments, including upcoming reserves. By MATIAS J. OCNER NO. 2: HOW CAN YOU GET A $50,000 LOAN FOR CONDO ASSESSMENTS IN MIAMI-DADE? HERE ARE THE STEPS What to know about the county program. | Published January 6, 2025 | Read Full Story by Miami Herald Archives Condo owners Gil Hall pose next to his wife Elizabeth CZerny in their home in Solaris at Brickell Bay in Miami on Tuesday January 21st., 2025. Story: Developers are trying to buy out all the units, seemingly so Ken Griffin can redevelop the building as part of a project for Citadel's HQ in the area. By Alexia Foderé NO. 3: CONDO OWNERS NEXT TO CITADEL'S PLANNED MIAMI HQ REJECT 'CHEAPSKATE' BUYOUT OFFERS Griffin, a billionaire hedge-fund manager bringing his company headquarters to Miami, has been mum about his intentions for the Solaris condo building. | Published January 23, 2025 | Read Full Story by Aaron Leibowitz Home buyers should review fees for homeowners and condominium association fees to see if the amenities are worth it, including pool, gym, clubhouse. NO. 4: ARE FEES FOR CONDO AND HOMEOWNER ASSOCIATIONS WORTH IT? ASK YOURSELF THESE QUESTIONS What buyers should know about the expense. | Published January 28, 2025 | Read Full Story by LEW SICHELMAN Condo inventory reached a new high in August in Miami-Dade County, finally tipping the market in favor of buyers. Above: Apartment rentals and condominiums dot the waterfront in North Bay Village. By MATIAS J. OCNER NO. 5: CONDOS IN FLORIDA ARE FACING A GROWING CRISIS. WHAT'S NEXT FOR OWNERS AFTER DEADLINE? Safety guidelines that went into effect this year are driving up costs and scaring off buyers. | Published February 19, 2025 | Read Full Story by Rebecca Liebson A view of a resurgent Northeast Second Avenue in the heart of Miami's Overtown neighborhood in April 2021, with the Plaza at the Lyric apartments at left and a Red Rooster restaurant in the background at right. By Pedro Portal NO. 6: RENTERS ARE PAYING LESS FOR APARTMENTS IN MIAMI, BUT THERE ARE ISSUES. SEE THE COSTS Here's a look at housing costs and ways to navigate the crisis. | Published March 14, 2025 | Read Full Story by Howard Cohen A rendering illustrates developers' plan to reconstruct and 'reinterpret' the demolished but iconic Deauville Beach Resort in Miami Beach. NO. 7: MIAMI BEACH'S VANISHED, ICONIC DEAUVILLE HOTEL IS POISED FOR AN 'EVEN BETTER' RETURN 'It is a project that improves the quality of life for every resident of North Beach,' say Beach Vice-Mayor Tanya Bhatt. | Published March 23, 2025 | Read Full Story by Andres Viglucci This report was produced with the help of AI tools, which summarized previous stories reported and written by McClatchy journalists. It was edited by journalists in our News division.
