Thursday, August 22, 2013

Florida leads South on construction spending

The housing market is one of the U.S. economy’s most important drivers.
In the same way the real estate industry’s collapse magnified the effects of the global recession in Florida, its resurgence in recent years has helped fuel a construction and sales boom that is having positive macro effects across the economy.
In the second quarter of this year, U.S. consumer spending was the highest it’s been since late 2010, with a substantial number of people plowing money into homes.
In a separate report released today, McGraw Hill said that South Florida had signed construction permits totaling $3.7 billion so far this year, compared to $2.98 billion 12 months ago.

Friday, January 4, 2013

Rosie O’Donnell home on Star Island for sale

The list price on Rosie O’Donnell’s home at 43 Star Island Drive is $17.5 million. 
The actress’ estate, which features 11,104 square feet of living space, has 203 feet of water frontage and two separate private guesthouses on a 1.11-acre lot. It was built in 1923.
O’Donnell purchased the home for $6.75 million in 1999, according to public records. The property, which has a total of 12 bedrooms and 11 bathrooms.

Thursday, October 18, 2012

Flipping Houses Is Once Again a Booming Business

Buying up homes, rehabbing and reselling them for a profit was big during the housing boom. But when the housing market started to slump, house flippers nearly vanished.
As the housing market recovers, house flipping may be showing signs of re-emerging.  In the first half of 2012, house flips increased 25 percent compared to a year earlier. The average profit on each property is $29,342, according to the real estate research firm.

Areas hit hardest in the housing crash are seeing some of the largest increases in flipping.  Phoenix has had the highest number of reported flips, followed by Las Vegas, Los Angeles, Miami and Atlanta.

Tuesday, October 16, 2012

Rap star Birdman was buyer in $14.5 million Palm Island sale

Rap star Birdman, the CEO of Cash Money Records, was the buyer in the $14.5 million sale of 70 Palm Avenue.  Birdman, whose real name is Bryan Williams, rose to prominence with the Big Tymers group.  The seller was Rockstar Energy Drink Founder Russell Weiner, who had purchased the home for $6.75 million in 2006.

Wednesday, October 10, 2012

Kim Kardashian & Kanye West looking at homes together in Miami

Kim Kardashian and Kanye West are looking for a home in Miami.  The reality and hip-hop stars are seeking a waterfront home in the range between $7 million and $10 million. 

Friday, September 28, 2012

Construction on Miami Beach H&M store set for completion by end of November 2012

The project to convert the former Lincoln Theatre in Miami Beach into a flagship H&M clothing store has begun construction. By the end of November, the 35,000-square-foot building, which was constructed in 1935 by cinema architect Thomas Lamb, will house a 30,000-square-foot H&M, along with smaller tenants including Swatch, 100 Montaditos, 4D Gelato and Sabon.

Miami construction contracts rise 54 percent

The total volume of construction contracts in the Miami & Miami Beach has reached $2.29 billion for the year to date, a 54 percent increase over the same period in 2011.  The number was buoyed by an 80-percent increase in residential construction contracts, which have reached $1.92 billion this year, compared to $1.07 billion at the same time last year. Nonresidential construction contracts rose by 32 percent to $1.61 billion in the same period.