by admin | Oct 15, 2015 | Market Data
An infill residential development in St. Petersburg’s urban core is officially under construction.
Source: www.bizjournals.com
A luxury townhouse development in downtown St. Petersburg has broken ground. Regents Lane will consist of 20 townhouses at 141 Fourth Ave. N., about a block and a half from Beach Drive.
Tampa-based NJR Property Investments LLC has reservations for five of the units, a spokeswoman said as of early October. The houses, which were announced in August, are priced from $848,500 to $928,000, though a pre-construction discount has brought the price of some units to the $700,000’s.
by admin | Oct 15, 2015 | Market Data
Source: saintpetersburgtimes.fl.newsmemory.com
RealtyTrac reports that the bay area ranks fourth among major metro areas with 984 ‘zombie houses’ – vacant homes in some stage of foreclosure.
In the Tampa Bay area, zombie foreclosures plunged 58 percent in the three months ended in September compared to the same period a year ago, RealtyTrac said. Nationally, zombie foreclosures were down 43 percent.
‘The overall inventory of homes in the foreclosure process has dropped 36 percent over the past year, so it’s not too surprising to see a similarly dramatic drop in vacant zombie foreclosures,’ said Daren Blomquist, RealtyTrac’s vice president.
Surprisingly, though, more than 63 percent of all vacant homes nationally are owned free and clear, with no mortgage, he said.
by admin | Oct 15, 2015 | Market Data
Source: housingperspectives.blogspot.com
According to the Census Bureau, the national homeownership rate dropped again in the second quarter of this year, to 63.4 percent. This level represents a nearly 50 year low, and continues the trend of declining homeownership that has been in effect since the end of the mid-2000s housing boom. The flip side of lower homeownership rates, however, is higher shares of households renting their homes.
How long will the homeownership rate continue to slide and when will the pendulum swing in the other direction? While the answer to these questions are unknown at the time, they are extremely important considerations in the path that household formation and housing options unfold over the next decade and beyond.
by admin | Oct 15, 2015 | Market Data
LARGO — An empty lot off the main drag here will soon be home to an apartment complex with the help of a housing grant from the city aimed at revitalizing downtown.
Source: www.tampabay.com
The Largo City Commission, acting as the Community Redevelopment Agency, gave the go-ahead last month to move forward with a plan to grant $232,000 to the developer of the 29-unit apartment complex at 154 and 158 Ridge Road N.
While large rental developments get all the press, it is smaller projects like this that make great use of small infill sites.
by admin | Oct 15, 2015 | Market Data
To: GE CEO Jeff ImmeltRe: Headquarters relocationDear Mr. Immelt,Nasty rumors have popped up that Florida might not be under consideration for your new corporate headquarters. To dispel such nonsense, we’ve taken the liberty of assembling several reasons why GE should move to the nation’s third-largest state, specifically, the Tampa Bay area. Hope you don’t mind.
Source: www.tampabay.com
Why GE should move to the nation’s third-largest state, specifically, the Tampa Bay area?
Quality of life, taxes and labor, regional identity and political leadership are all strong features the Tampa Bay area can offer.
With four major sports teams, the beaches and a year-round average temperature of 73 degrees, Tampa Bay offers rich options for employees to enjoy outside the office. The beaches and Stanley Cup hockey. What’s not to like? Have you been to Atlanta in August? Or January? A hint: If it snows, even a dusting, just stay off the road. It doesn’t snow here. Tampa International Airport is one of the best and most affordable in the world, with solid on-time performance and a growing portfolio of international flights. The downtowns in St. Petersburg and Tampa are alive with shops, apartments, parks, restaurants and museums anchored by the world-class Dalí Museum. The cost of living is relatively low and the community is safe, friendly and diverse.
