Florida’s Innovation Centers

From the panhandle to the keys, Florida is buzzing with tech startups.

Smack in the middle of Central Florida’s High Tech Corridor, The GUIDEWELL in Lake Nona (Orlando) provides business leaders, the global academic community and entrepreneurs a physical location to convene to create solutions to persistent problems in their field, fostering a culture of imaginative thinking, ideation and collaboration. A few of the outstanding enterprises housed at GuideWell include PANOPTEX TECHNOLOGIES, leading the fight against cyberattacks and breaches in big data operations, the FLORIDA BLUE INNOVATION CENTER, transforming the delivery of care through new innovative care models that provide superior health outcomes to patients, and CONNECT, sales, marketing, and engagement company focused on driving results through health care consumerism. Real estate in the area is buzzing, with new home developments popping up and home values rising. Median Home Sales Price is around $375,000, with $1,950 cited as the Median Rent Per Month. Located adjacent to the Orlando International Airport and the bevy of direct flights to locations across the globe, Lake Nona has become a world-class center for research, technology and innovation.

In Tampa, SANITAS INTERNACIONAL seeks to provide affordable, convenient and culturally-relevant health care solutions. Their Greenhouse Shops will address patients’ day-to-day health care in one place with convenient hours and urgent care walk-ins that serve the needs of working families. Also in the Tampa Bay area, TEC GARAGE  features incubator and coworking programs, providing clients with access to networks, experts, international markets, industry peers, market research, service providers, university support systems and funding. The Median Sales Price for Tampa is $220,000 and $1,450 median rent per month; $195,000 for St. Petersburg and $1,375 median monthly rentals, and $430,000 in Clearwater, with $2,900 median rent per month.

Back in the Orlando area, The University of Central  Florida Business Incubation Program helps early-stage businesses develop into financially stable companies by providing the tools, training, and infrastructure that help facilitate smarter, faster startup growth.  UCF’s Venture Accelerator Lab offers workshops and advisory services to assist with market research, business planning, and more to help determine the market potential of technology-based business ideas. UCF’s Center for Entrepreneurial Leadership offers education, startup resources, collaboration facilities, venture acceleration, competitions and events to help students launch innovative new ventures

The TRADITION CENTER FOR INNOVATION in Port St. Lucie is a research and development park committed to the innovation life cycle, in the process cultivating a collaborative environment ideally suited for companies and organizations that want to conduct life science research and that are focused on advancing research from the laboratory to the market. TCI’s anchor institutions—including the Torrey Pines Institute for Molecular Studies, the Vaccine and Gene Therapy Institute Florida, Mann Research Center and Martin Memorial Health Systems—actively map out new ways to make research easier and help members advance discoveries through the pipeline to commercialization.  Real estate in this area is moving at a breakneck pace, with new developments replacing the orange groves. Current median home prices in Port St. Lucie are around the $196,000 mark, with rentals averaging $1500/month.

In South Florida’s tri-county area (Miami Dade, Broward and Palm Beach), the number of startups registered on AngelList, a platform for startups and investors, shot up 46 percent in the past year, to more than 1,600 companies. Experts say this is indicative of momentum in effort to develop a thriving tech hub and startup ecosystem. Here, the Knight Foundation is leading the way, funding the IDEA CENTER at Miami Dade College as an innovation lab to develop ideas, an accelerator to launch startups, tech training and other support to MDC’s 165,000 students. MAGIC, an innovation space for creative industries and gaming, is also located at MDC, and Knight invested in LAUNCH CODE, linking trained apprentices with tech companies to fill the jobs of the future.

ENDEAVOR MIAMI selects, mentors and accelerates high-potential entrepreneurs by creating an environment where entrepreneurs can thrive. The CAMBRIDGE INNOVATION CENTER (CIC) is the latest high-profile startup-centric in Miami, eventually housing more than 500 tech startup companies. Located in the University of Miami Life Science & Technology Park in Overtown, space is available for offices, co-working and events for entrepreneurs. The CIC team hopes that it will help anchor an innovation district that will serve all of Latin America. Overtown is a Miami neighborhood going through gentrification, with current median home sale prices hovering around $219,900 and $1,650 median rental prices per month. 

Elsewhere in Florida, the ENTREPRENEURSHIP AND INNOVATION CENTER  at the University of Florida was created to teach, coach and inspire students to be entrepreneurial in their lives. The Center provides students the tools and experiences necessary to creatively pursue new opportunities and innovations in the start-up, social, and corporate venture arenas. The INNOVATION HUB, also at UF, offers inexpensive, state-of-the-art lab and office space available for lease by resident startups, and provides a sharing environment for entrepreneurs.  Median home sales prices in Gainesville are around $170,000, with $1,400 median rental prices. 

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Investment Properties Network takes a team approach to finding our clients the very best investment opportunities available in the Florida Real Estate Market. With offices in Miami and Orlando, we cover the state, thoroughly researching every opportunity we determine is a fit to meet an investor’s criteria. This approach is the key to our success in catering to international and domestic investors, ranging from the experienced investor in commercial and income-producing properties to the first-time buyers of residential properties. Each client is treated with the same care and attention benefiting from our experience in finding the right real estate investment to suit individual investment needs.
Contact us today!  email: info@investmentpropertiesnetwork.com
Visit us online at www.InvestmentPropertiesNetwork.com

Florida Foreclosure Crisis Update

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Despite increases in home prices and a stabilizing housing market, many experts say the foreclosure crisis is far from over. There are investment opportunities throughout the state to purchase foreclosures, pre-foreclosures, short sales, sheriff’s sales and other properties awaiting the fast transactions needed to clear the books. The top 30 cities with such offerings are:

    • SOUTH FLORIDA: Miami, Fort Lauderdale, Hollywood, Pompano Beach, West Palm Beach, Miami Beach, Hialeah, Homestead, Boca Raton, Lake Worth, Opa Locka, Boynton Beach
    • CENTRAL/SOUTHWEST FLORIDA: Orlando, Tampa, St. Petersburg, Ocala, Sarasota, Ft. Myers, Cape Coral, Lakeland, Clearwater, Riverview, Spring Hill, Naples, Kissimmee, Palm Bay, New Port Richey
    • NORTH FLORIDA:  Jacksonville, Pensacola, Panama City,

KNOW BEFORE YOU BUY
Buying a foreclosed home is different from buying a typical resale. The property is sold “as is” with little room for negotiation. The buyer will be responsible for repairs and remodeling to flip it, or to make it livable if the property is destined to become a rental. The seller – usually a bank – will require a pre-approval letter from a lender before accepting an offer. Buying a foreclosure is not easy, but the benefits and fantastic pricing are well worth the effort, especially with the help of an agent who knows the ropes and can advise on comparables and timeframes. Since there is usually only one real estate agent involved in these types of transactions, call us – we are experienced in the market.

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Tel: (305) 306-9353

Investment Properties Network takes a team approach to finding our clients the very best investment opportunities available in the Florida Real Estate Market. With offices in Miami and Orlando, we cover the state, thoroughly researching every opportunity we determine is a fit to meet an investor’s criteria. This approach is the key to our success in catering to international and domestic investors, ranging from the experienced investor in commercial and income-producing properties to the first-time buyers of residential properties. Each client is treated with the same care and attention benefiting from our experience in finding the right real estate investment to suit individual investment needs.
Contact us today!  email: info@investmentpropertiesnetwork.com
Visit us online at www.InvestmentPropertiesNetwork.com

Florida – the World’s Golf Capital

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Florida is green – not only the luscious landscapes and natural habitat but also the renewable energy initiatives taking hold, the dollars pouring in from tourism and, of course, the golf courses dotting the state. With perpetual sunshine and warm temperatures year-round, Florida’s greens are a golfer’s paradise, and we have some of the best golf courses in the world, both public and private.  Here are a few of Florida golfing gems, courtesy of Golf.com:

Northern Florida:

With a rich history of the earliest settlements in the U.S. where some of the first golf courses were built, along with the natural beauty of the area, and the World Golf Hall of Fame to boot, here golfers delight in finding some of the best courses in the country. Jacksonville, in particular, tops the list for this area’s golfing options. There are 488,000 yards of greens, over 1,220 holes and 70 courses in Jacksonville alone, some designed by best in the business. Visit Jacksonville and the Beaches offers suggestions of the top five courses to play:  In the Beaches area, golf at Windsor Parke, Champions Club and Queens Harbour; in Jacksonville’s Southside District tee off at 4) Deercreek Country Club; and on the Westside, visit 5) Bent Creek Country Club.

The Windsor Parke Golf Club was rated the 4th best new course in the nation for Golf Digest and Golf News rated it in the top 100 golf courses in Florida. The National Golf Course Owners Association recognized the course as being “beginner-friendly.” Voted by Golf Magazine as Florida’s top public course and also seen as the world’s most famous golf course, TPC Sawgrass was designed by Pete Dye in 1981. Every May the PGA Tour comes to this course for The Players Championship. Bent Creek with its 18 holes, the course makes it way through the natural setting of native Florida wetlands and was once voted as one of the Best Places to Play by Golf Digest. Blue Sky was just renovated to the tune of $1.5 million dollars, making it a top contender for one of the must-play courses in Jacksonville. Offering a relaxed atmosphere for the casual golfer, there is no dress code and it is a short drive from everything you love about living or visiting the area. Julington Creek was designed by PGA pros, so it is both challenging but also playable. A public course, Julington Creek Golf Club is rated as one of the top 100 best courses in Florida.

Elsewhere in Northern Florida, the Panhandle region – also called the Emerald Coast because of its striking water color of the Gulf of Mexico, features stunning white sand beaches and terrific golf. Raven at Sandestin hosts the Champions Tour events and sets the standard in service levels for northwest Florida-area courses. Back on the northeast coastal area, St. Augustine, home of the World Golf Hall of Fame, offers world-class golfing at World Golf Village

Central Florida

Home to many professional golfers, both active and retired, Central Florida has more golf courses per capita than any other area in the world.  It seems like half of the PGA Tour makes Orlando home. Bay Hill Club & Lodge was the winter home of the late great Arnold Palmer and is Golf Magazine’s third-best public course in Florida. Reunion Resort open to resort guests only, was designed by three golf legends. Waldorf Astoria Club  is surrounded on three sides by the Disney Resort. The Grand Cypress Resort celebrates its 25th anniversary, the Southern Dunes Golf & Country Club was designed by Steve Smyers, and the course Disney World  is Tom Fazio’s Osprey Ridge, distinguished by its mounds, wetlands and huge, very three-puttable greens.  The Ritz-Carlton Grande Lakes and Orange County National join Greg Norman-designed Champions Gate to round out the Orlando-area facilities for great golf.

But there is sooooo much more to Central Florida than Orlando. Head west to Tampa and you’ll find Copperhead Course at Innisbrook Golf Resort and the World Woods Golf Club. Farther south, still considered Central Florida but geographically identified as the Southwest coast around Naples and Ft. Myers, you have your choice of golf courses – Naples alone has 80!  Find some great golf at Old Corkscrew, TPC Treviso Bay and Tiburon Golf Club.

South Florida

From the Palm Beaches to Miami, you can find great golfing at both public and private courses. Must-play courses include Trump’s Doral, playing host to the PGA tour for 54 years until 2017, when they moved along and headed to Mexico. Doral is still ranked the sixth best public course in the state. Turnberry Isle is located in Aventura, just north of Miami, and the PGA National Resort & Spa in Palm Beach Gardens is host to the Ryder Cup, PGA Championship, and multiple Senior PGAs. Also in Palm Beach, the landmark Breakers provides glimpses of the beach. Head north to North Palm Beach for what has been transformed into a marvelous public-access golf course, and even further north to Port St. Lucie to find the PGA Golf Club with terrific views.

Every city in South Florida seems to have a golf course – Miami Beach has two – either associated with a country club or open to the public. Including in the list of the best courses in South Florida find Normandy Shores Golf Club on the shores of Biscayne Bay and Colony West Country Club in Tamarac, just west of Ft. Lauderdale.

Golf properties are hot investments. Contact us to help you find either country club or gated community properties anywhere in the great golf state of Florida!

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cropped-investment_properties_network_iconINVESTMENT PROPERTIES NETWORK TAKES A TEAM APPROACH TO FINDING OUR CLIENTS THE VERY BEST INVESTMENT OPPORTUNITIES AVAILABLE IN THE FLORIDA REAL ESTATE MARKET. WITH OFFICES IN MIAMI AND ORLANDO, WE COVER THE STATE, THOROUGHLY RESEARCHING EVERY OPPORTUNITY WE DETERMINE IS A FIT TO MEET AN INVESTOR’S CRITERIA. THIS APPROACH IS THE KEY TO OUR SUCCESS IN FOCUSING ON INTERNATIONAL INVESTORS, RANGING FROM FIRST-TIME BUYERS OF RESIDENTIAL PROPERTIES TO THE EXPERIENCED INVESTOR IN COMMERCIAL AND INCOME-PRODUCING PROPERTY. EACH CLIENT IS TREATED WITH THE SAME CARE AND ATTENTION BENEFITING FROM OUR EXPERIENCE IN FINDING THE RIGHT REAL ESTATE INVESTMENTS TO SUIT INDIVIDUAL INVESTMENT NEEDS. CONTACT US TODAY!  TEL: (305) 306-9353, EMAIL: INFO@INVESTMENTPROPERTIESNETWORK.COM. VISIT US ONLINE AT WWW.INVESTMENTPROPERTIESNETWORK.COM

17% of homebuyers are single women

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In the past, women rarely made enough money on their own to afford to buy a house – but that is changing

A recent study by the National Association of Realtors found that 17% of homebuyers are single women compared to 66% being married couples and 7% single men. With women still lagging behind men in earning power, it is surprising that they are buying double the amount of homes. This could be attributed to the fact that women are commanding higher salaries and are entering high-paying industries previously a man’s domain, such as engineering and computer sciences, which could give them the financial confidence to buy a home without a partner. Another reason could be that women are better than men at paying their mortgages on time, and are better with finances in general. A new report from ATTOM Data Solutions shows that women are less likely than men to go into foreclosure. Overall, men have slightly higher foreclosure rates than women, at 73 out of every 10,000 male homeowners, versus 72 out of every 10,000 female homeowners.

Still another reason could be that the number of single mothers far outweighs the number of single fathers. The U.S. Census Bureau reports that out of about 12 million single parent families in 2016, more than 80% were headed by single mothers, giving women a reason to buy a house to create a permanent home for their children.

The National Association of Realtors’ Field Guide to Women Homebuyers reports that the average first-time female homebuyer is 32 years old and lives at home with her parents. She makes about $49,000 a year and the majority have finished college. Rather than stay at home with their parents or putting all of their money towards rent, these single women are saving for down payments and buying a home of their own.

Many single women buy condos for the myriad benefits offered –  security of living in a full-service building, the ability to make friends living in a condo community, access to community resources that single-family homes don’t offer, and the shorter commute to work than living in the suburbs.

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cropped-investment_properties_network_iconInvestment Properties Network takes a team approach to finding our clients the very best investment opportunities available in the Florida Real Estate market. With offices in Miami and Orlando, we cover the state, thoroughly researching every opportunity we determine is a fit to meet an investor’s criteria. This approach is the key to our success in focusing on international investors, ranging from first-time buyers of residential properties to the experienced investor in commercial and income-producing property. Each client is treated with the same care and attention benefiting from our experience in finding the right real estate investments to suit individual investment needs. Contact us today!  Tel: (305) 306-9353, Email: info@InvestmentPropertiesNetwork.com. Visit us online at www.InvestmentPropertiesNetwork.com

Lake Nona Adds KPMG to Area’s Innovative Collaboration

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Lake Nona – 7,000-acre master planned community within the city limits of Orlando

High Tech Corridor Update……

Just southeast of the Orlando International Airport, transversed by the 417 toll road, sits Lake Nona, one of the Central Florida centers for innovative collaboration occupying a premiere location in the Florida High Tech Corridor.

LIVE FORWARD

Lake Nona is a community of and for the future. Where it’s not about what has happened, but what is happening. Where better opportunities are being created for generations to come. Where aspirations and realities merge in collaborative innovation, and the only limit is your imagination.

http://www.LakeNona.com

Touted as Florida’s first Gigabit community, that is having a fiber network providing Gigabit internet access, all businesses and residences are wired for lightning-fast access to broadband for their devices and entertainment services like streaming movies and watching television. This provides the fastest Internet speeds to more people, ultimately helping to break down the digital divide and being able to recruit Fortune 50 companies as well as more tech-savvy businesses, especially those working on SAAS/DAAS, IoT, data analysis, digital marketing and other industries that want Gigabit internet access.

In 2012, Cisco announced its partnership with the Tavistock Group, developers of the 7,000-acre master planned community within the city limits of Orlando, for sustainable urban development at Lake Nona. This collaboration, the first U.S. iconic Smart+ Connected Community,  advances the community’s vision of becoming a global model and standard for sustainable urban development to connect healthcare and education, real estate, retail and other community services through a Smart digital infrastructure. Lake Nona was conceived to be an integrated city for working, living, learning and playing and is one of the country’s fastest growing communities with more than 12,000 residents and more than 10 million square feet of residential and commercial facilities. Lake Nona is also one of Florida’s largest economic engines with business clusters committed to advancing developments in the areas of sport and human performance, health and well-being, education, and technology.

In addition to being home to world-class research, recreational facilities, a medical city, diverse workspaces, retail centers, entertainment choices and residential options, LakeLake_Nona_Aerotropolis Nona is considered an “Aerotropolis”. Situated adjacent to the Orlando International Airport, there are ample opportunities to easily connect workers, suppliers, executives and goods to the global marketplace.

Earlier this week, the U.S. audit, tax, and advisory firm KPMG broke ground for construction of its $400 million learning, development, and innovation facility in Lake Nona, expecting to hire some 330 people statewide over the next three years. The 55-acre, state-of-the-art campus will feature 800,000 square feet of space for meeting functions, classroom and educational activity and dining facilities. With cutting-edge technology that includes an innovation center that will support training and client engagement, KPMG expects to complete the project by year-end 2019. KPMG was #12 on Fortune’s 100 best companies to work for, where staff is “empowered to continue learning.” Workers spend upwards of 50 hours in training per year on average, and 14,700 have official mentors. KPMG also topped the rankings for the Big 4 public accounting firms.

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cropped-investment_properties_network_iconInvestment Properties Network takes a team approach to finding our clients the very best investment opportunities available in the Florida Real Estate market. With offices in Miami and Orlando, we cover the state, thoroughly researching every opportunity we determine is a fit to meet an investor’s criteria. This approach is the key to our success in focusing on international investors, ranging from first-time buyers of residential properties to the experienced investor in commercial and income-producing property. Each client is treated with the same care and attention benefiting from our experience in finding the right real estate investments to suit individual investment needs. Contact us today!  Tel: (305) 306-9353, Email: info@InvestmentPropertiesNetwork.com. Visit us online at www.InvestmentPropertiesNetwork.com

 

 

Luxury Defined 2017 Report Includes South Florida Markets in Top 10

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Luxury Real Estate Market Update……

This month, Christie’s International Real Estate released its annual luxury real estate market report, Luxury Defined: An Insight Into The Luxury Residential Property. Once again, two South Florida markets have made the top 10: Miami, defined as a Global Economic Hub and Jupiter Island for its reputation in the regional second-home market.

Worldwide, the average starting price of a luxury home is $2.1 million. According to the report, cash is not as prevalent as it was a few years ago, particularly in markets such as Miami, where cash-in-hand foreign buyers have waned. New Treasury reporting requirements for overseas buyers that purchase million-dollar-plus properties with cash have become a disincentive for some buyers, as well as overheated house prices have caused cash transactions to drop from 70 percent in 2013 to below 60 percent today. Experts predict that pricing corrections in the market will likely bring buyers — both cash and traditionally financed ones — back into the fold. The report quoted 60% percent of agents stating that the election outcome had little to no impact on their luxury sales to date, although in the South Florida market, nearly half of the HNWIs were sidelining cash until the election was over, and they are now seeing that cash being injected back into the luxury real estate market.

Miami moved down the report’s rankings, from tenth place last year to seventh place in 2017. Price reductions are becoming more commonplace, an influx of new developments, a steep increase in inventory supply, and a decline in luxury sales activity have impacted the market. New construction of luxury condos coupled with a growing resale inventory added a large number of units to the market. When inventory is up and more new construction products are added to the luxury market, it becomes more challenging to sell some of the older product that needs updating or improvements.

In November, the Urban Land Institute held its Miami Condo Symposium for discussions about the current state of the South Florida condo market. Panelists included Jorge Perez, chairman and CEO of the Related Group; Inigo Ardid, co-president of Key International; Ziel Feldman, chairman and founder of HFZ Capital Group; Moishe Mana, president of the Mana Group; and Eliot Spitzer, principal of Spitzer Enterprises.  Perez was quoted as saying that there would be an international demand slowdown for Miami condos, but there is a lot of product to choose from. His company sees having less emphasis in the condo market and thinks the rental market will be stronger in next few years.

The report quotes a four percent drop in international buyers exacerbating issues caused by seller overpricing in the luxury property market. Agents spend a lot of time educating sellers on market conditions, especially when defining the line of demarcation – a seller’s market vs. a buyer’s market.

Some sellers just got tired of having their home on the market, so they drastically cut their list price to get a contract, which in turn, would set a lower benchmark for other comparable listings, creating a new demarcation in the marketplace.

However, well-priced Miami properties are still selling based on existing demand, which remains “significant though diminished”.  Almost 40 percent of all million-dollar-plus sales during 2016 from original asking prices, which leads experts to predict that a great driver of residential real estate sales in 2017 will be appropriate pricing.

Elsewhere in South Florida, two Palm Beach properties made the Top 10 Residential Sales Worldwide, both single-family residences one selling for $85,000,000 and the other slightly cheaper at $77,060,000.  There is only one Florida property, in Palm Beach, that made the current US$100M+ listings worldwide, a single-family residence for $137,000,000.

The report analyzes trends that are shaping the luxury real estate market, factoring in the effects of fluctuations in the global economy, while providing insights into buying behaviors, demographics, and preferences over the past year. After measuring key metrics, including record market sales price, prices per square foot, and percentage of non-local and international buyers, cities were ranked.

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cropped-investment_properties_network_iconInvestment Properties Network takes a team approach to finding our clients the very best investment opportunities available in the Florida Real Estate market. With offices in Miami and Orlando, we cover the state, thoroughly researching every opportunity we determine is a fit to meet an investor’s criteria. This approach is the key to our success in focusing on international investors, ranging from first-time buyers of residential properties to the experienced investor in commercial and income-producing property. Each client is treated with the same care and attention benefiting from our experience in finding the right real estate investments to suit individual investment needs. Contact us today!  Tel: (305) 306-9353, Email: info@InvestmentPropertiesNetwork.com. Visit us online at  www.InvestmentPropertiesNetwork.com

 

Millennials and Home Ownership

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Home ownership – considered a rite of passage that signaled stability and prosperity. How do Millennials fare with achieving the American dream of owning a home? According to The Millennial Study, a survey conducted by Accel Qualtric, half of Millennials say they own homes, but 88% percent of those who want to buy a home can’t because of debt. Twenty-nine percent say that the economy is the top issue facing their generation. Accel Qualtrics surveyed over 6,000 millennials, Gen Xers and boomers to understand how they’re similar, how they’re different, and how they’re changing.

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According to the Bank of America’s Homebuyers Insight Report, Millennials plan to own a home, and they intend on owning multiple homes throughout their lifetimes.  The survey found that 68 percent of millennials say their current home is merely a stepping stone towards the home they want to end up in, compared with 36 percent of homeowners across all generations. Millennial homeowners see the value in buying early but realize it may mean putting their dream home on hold for now. Their experiences can motivate would-be buyers to purchase sooner. Many Millennials are actively buying homes and that they are pleased with their choice.  Among Millennials who already own a home, 79 percent said their homes are having a positive impact on their long-term financial picture, with 86% percent responding that owning a home is more affordable than renting, reflecting the value the see of home ownership. BofA surveyed 4,906 adults, including 1,268 current homeowners and 435 prospective homeowners for the study.

Better Homes and Gardens conducted a survey of more than 3,200 prospective home buyers to share their thoughts on home improvement spending, the importance of personalization, and technology in home value. The survey shows that while 77% percent of Millennials feel that a home is still a good investment, 35% percent said a lack of down payment was the greatest obstacle to making the dream a reality.  Forty percent of Millennial respondents want to make their home more energy efficient and want a home with personalization – they seek out creative ways to improve the look and feel of their home. Examples of personalization and home individualization include chalkboards, under stair storage, and adding bins and buckets to maximize shelving.

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cropped-investment_properties_network_iconInvestment Properties Network takes a team approach to finding our clients the very best investment opportunities available in the Florida Real Estate market. With offices in Miami and Orlando, we cover the state, thoroughly researching every opportunity we determine is a fit to meet an investor’s criteria. This approach is the key to our success in focusing on international investors, ranging from first-time buyers of residential properties to the experienced investor in commercial and income-producing property. Each client is treated with the same care and attention benefiting from our experience in finding the right real estate investments to suit individual investment needs. Contact us today!  Tel: (305) 306-9353, Email: info@InvestmentPropertiesNetwork.com. Visit us online at  www.InvestmentPropertiesNetwork.com

Investing in Florida Real Estate

Welcome_to_FloridaThe Sunshine State – we have it all…. some of the most beautiful sandy beaches in the world along 2300 miles of coastline and more than 11,000 miles of rivers, streams and other waterways, great weather year-round, plenty of things to do throughout the state, growing economies in our cities, home to innovation and technology, and the great outdoors. Florida is the golf capital of the world, with more courses per capita, and welcomed over 112 million tourists last year. We have a wide range of homeowners – some live in their homes year-round, others buy rental property to produce a stream of income or hope to see their investment grow, and still others own second homes and getaways for their intermittent use. If you are considering buying property as an investment in the Sunshine State,  here are a few things to consider:

  • Buying an investment property is meant to make you money, but you will need to spend money first. Do you have an adequate down payment and are you able to make the monthly mortgage payments if you can’t secure the renters?
  • Make sure you have reserves to make the mortgage payment in the event the property has to sit empty for a while.
  • If you are buying investment properties that are fixer-uppers in order to flip or to keep, get a qualified inspection before you place an offer and budget correctly for any renovations needed.
  • Consider what budget you will need for continual maintenance.

Because real estate is cyclical, property values over the long-term are an unknown. However, history has shown that home prices do increase over time. What returns can you make on an investment house? Time’s Money section suggests that big Wall Street-backed firms that own thousands of rental properties aim for a 5%-7% return on their homes. Individual investors, especially those who don’t have to pay support staff, should shoot for at least 10%,

Keep in mind that you can’t expect to charge enough rent to cover all of your costs – mortgage, property taxes, maintenance – but you can expect to recover some of them, which will help pay off the principal on the home. There are also some tax advantages that you should be aware of:

  • Interest, taxes, insurance and other expenses are deductible against the property’s income, while losses can usually be deducted against your other income.
  • Depreciation – basically an allowance for wear and tear – is another tax deduction, usually over 27.5 years, or 3.636% of the purchase price of the buildings (not the land) per year.
  • Rental properties can be sold, and the proceeds rolled into other rental property without paying capital gains taxes.

Renters are a huge consideration for rental investors. While background checks are available and there is insurance that can cover bad renters, but be prepared for those who don’t pay the rent, destroy or damage the property or cause you other issues. You will need a repairs budget. If your home is a vacation rental, have you researched sharing-economy outlets like AirBnB to lessen the burden?

Buying a home as an investment property could be a good idea if you are prepared.

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cropped-investment_properties_network_iconInvestment Properties Network takes a team approach to finding our clients the very best investment opportunities available in the Florida Real Estate market. With offices in Miami and Orlando, we cover the state, thoroughly researching every opportunity we determine is a fit to meet an investor’s criteria. This approach is the key to our success in focusing on international investors, ranging from first-time buyers of residential properties to the experienced investor in commercial and income-producing property. Each client is treated with the same care and attention benefiting from our experience in finding the right real estate investments to suit individual investment needs. Contact us today!  Tel: (305) 306-9353, Email: info@InvestmentPropertiesNetwork.com. Visit us online at www.InvestmentPropertiesNetwork.com

 

 

Is the home-ownership dream over for South Florida?

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South Florida Real Estate Market Update……

Financial independence and quality of life seem to be trumping home ownership for people in the South Florida real estate market. Developments in pedestrian-friendly neighborhoods in areas where amenities, entertainment options and new employment opportunities are growing are luring a pool of renters, especially millennials, into the rental markets of the tri-county area of South Florida. A lot of people are selling their big houses in the outlying areas of the cities dotting the coastline and moving into concentrated urban-living situations.

According to the Real Deal, web-based reporting on South Florida real estate news, 10,200 new apartments are expected to come to market in the tri-county region, compared to 8,700 in 2015, marking a 17 percent increase. That includes 5,500 new apartments in Miami-Dade County plus another 4,700 units in Broward County and Palm Beach County combined.

Ten-X.com, a real-estate research platform, reports that apartment vacancies in Miami have been on the rise as of late, reaching 4.7 percent in the third quarter of 2016. While rents are currently at an all-time high, growth has already begun to decelerate. They point to further slowing, predicting annual growth falling below 1 percent by 2019. Though its economy continues to grow, data points to a stabilizing effect that should continue to give multifamily investors pause. 

A lot of micro-apartments are coming on the market. These are small units, usually under 500 sq.ft., with many being studios. Rents range from $995 to $2,000 or more a month. Micro units meet the needs of younger people who are remaining single. According to 2015 statistics released by Harvard University’s Joint Center for Housing Studies, adults under age 35 made up 19 percent of U.S. households but less than 10 percent of homeowners.The homeownership rate for 35-44 year olds had fallen most and was down 5.4 percentage points from the 1993 level and back to a level not seen since the 1960s. With renters often spending 40% percent to 50% percent of their salaries on rent alone, these tiny living quarters are a welcomed relief from the higher-priced larger apartments on the market. However, certain land development regulations and zoning codes may have to be revised from the minimum square footage many cities in South Florida currently have on the books. Allowing developers to build smaller apartments will make financial sense for developers and boost affordability for users.

The Harvard study reports there has been record growth in rental demand. The share of US households that rent their housing rose to a 20-year high of 35.5 percent in 2014, marking the 10th consecutive year of robust renter household growth. Renter household growth has averaged 770,000 annually since 2004. While soaring demand is often attributed to the millennials’ preference to rent, households aged 45–64 in fact accounted for about twice the share of renter growth in 2004–2014 than households under the age of 35.

Fort Lauderdale was ranked as the third-best metro market for buyers of multifamily properties, with monthly rent per unit projected to increase from $970 in 2015 to $1,169 in 2019, marking a 20 percent growth. Miami was ranked as the third-best market in the nation for sellers of rental buildings, with monthly rent per apartment projected to increase from $1,240 in 2015 to $1,359 in 2019.

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cropped-investment_properties_network_iconInvestment Properties Network takes a team approach to finding our clients the very best investment opportunities available in the Florida Real Estate market. With offices in Miami and Orlando, we cover the state, thoroughly researching every opportunity we determine is a fit to meet an investor’s criteria. This approach is the key to our success in focusing on international investors, ranging from first-time buyers of residential properties to the experienced investor in commercial and income-producing property. Each client is treated with the same care and attention benefiting from our experience in finding the right real estate investments to suit individual investment needs. Contact us today!  Tel: (305) 306-9353, Email: info@InvestmentPropertiesNetwork.com. Visit us online atwww.InvestmentPropertiesNetwork.com

Four Florida cities make the 2017 Forbes list of best cities to invest in housing

The Sunshine State Real Estate Market Update……

Four cities in the Sunshine State – all in the top 10 – made the 2017 Forbes list of best cities to invest in housing: Jacksonville (#2), Orlando (#3), West Palm Beach (#5) and Tampa (#7). The Local Market Monitor, author of the list resulting from the analysis of 300 housing markets, says that Florida’s continued strength is the biggest surprise of the list. As recently as 2015, seven markets in the state were undervalued by more than 20%, but builder constraint and job growth boosted the value of existing homes. The following narratives on each city came from the Forbes article based on data from 2012 to 2015, the most recent data available from all cities:

#2 – Jacksonville

Forbes_Jacksonville_2

Source:  Forbes, 2017 List of Where to Invest in Housing

 

The average home price in Jacksonville is $225,000, compared to $268,000 nationally. The three-year price growth forecast is 30% percent compared to 17% percent nationally. Homes here are undervalued by 8% compared to the historic ration of price and local income. Jacksonville claims 9% annual home price growth, 4.1% annual job growth and 5.1% population growth from 2012 to 2015.

#3 – Orlando:  

Forbes_Orlando_3

Source:  Forbes, 2017 List of Where to Invest in Housing

The average home price in Orlando is $219,000, compared to $268,000 nationally. The three-year price growth forecast is 28% percent compared to 17% percent nationally. Orlando boasts a growing economy –  7.2% three-year population growth and 4.4% annual job growth.

#5 – West Palm Beach:  

Forbes_West_Palm_Beach_5

Source:  Forbes, 2017 List of Where to Invest in Housing

The average home price in West Palm Beach is $313,000, compared to $268,000 nationally. The three-year price growth forecast is 28% percent compared to 17% percent nationally. West Palm Beach enjoys 11% annual home price growth, 1.9% annual job growth and 4.7% three-year population growth. Despite the major rise in prices, homes here are not yet over valued.

#7 – Tampa / St. Petersburg:  

Forbes_Tampa_7

Source:  Forbes, 2017 List of Where to Invest in Housing

The average home price in Tampa/St. Petersburg is $213,000, compared to $268,000 nationally. The three-year price growth forecast is 25% percent compared to 17% percent nationally. Home The area’s population grew 4.5% from 2012 to 2015. Last year, prices grew 9% and the job growth was 2.6%.

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cropped-investment_properties_network_iconInvestment Properties Network takes a team approach to finding our clients the very best investment opportunities available in the Florida Real Estate market. With offices in Miami and Orlando, we cover the state, thoroughly researching every opportunity we determine is a fit to meet an investor’s criteria. This approach is the key to our success in focusing on international investors, ranging from first-time buyers of residential properties to the experienced investor in commercial and income-producing property. Each client is treated with the same care and attention benefiting from our experience in finding the right real estate investments to suit individual investment needs. Contact us today!  Tel: (305) 306-9353, Email: info@InvestmentPropertiesNetwork.com. Visit us online at  www.InvestmentPropertiesNetwork.com