While Florida and California had some of the biggest rent increases — accounting for seven of the top 10 in that category — the places that saw the largest average yields in the third quarter were a little off the beaten path.
Source: www.housingwire.com
With rents rising 10.3% in 3Q 2015, the Tampa Bay area ranks as one of the highest returns for rental investors in the nation.
As a testament to the growing popularity of the single-family rental asset class, total issuance for 25 single-family securitizations in two years have amounted to $13.08 billion.
Source: dsnews.com
Is the single family rental market a trade or a business? Why the question may not be fully answered for years to come, if the securitizations in the space are any measure, then it appears to be a legitimate business.
As a testament to the growing popularity of the single-family rental asset class, total issuance for 25 single-family securitizations in two years have amounted to $13.08 billion backed by loans on nearly 100,000 homes.
Buyers continued to snap up Florida homes and condos in September, with sales up 13.4 percent over a year ago. The Tampa Bay region is moving even faster, closing on 14.5 percent more single family homes last month than in September 2014.
Source: www.tbo.com
The Florida and Tampa Bay housing markets continue to remain strong and are expected to through 2016. Buyers continued to snap up Florida homes and condos in September, with sales up 13.4 percent over a year ago. The Tampa Bay region is moving even faster, closing on 14.5 percent more single family homes last month than in September 2014.
On the national scene, Americans snapped up more homes than expected in September, suggesting that the U.S. housing sector remains insulated from global economic turmoil. Economists had predicted a 5.38 percent increase in home sales, which actually jumped by 8.8 percent from a year ago.
In the Tampa-St. Petersburg-Clearwater Metropolitan Statistical Area, 3,940 single family homes sold in September — a 14.5 percent increase. Sales of townhouses and condos were up even more, by 16.6 percent compared to September 2014, with 1,320 sales, Florida Realtors reported.
The median sale price for a single family home in the Tampa metro area was $176,000 in September, up 10.1 percent year over year. Townhouses and condos in the region sold for a median price of $118,000, up 11.8 percent over September 2014.
Breaking tourism records is great, but without breaking ground on more hotels in the Sarasota-Bradenton area, some tourism officials believe the visitation boom could be stymied.
Source: www.heraldtribune.com
Visitors to Sarasota County jumped 10.9 percent when compared with the previous year in the second quarter of 2015, and record-breaking tourism numbers have become habit. But the area has to be able to provide the hotel beds needed to keep the numbers growing, said Virginia Haley, president of Visit Sarasota County, the county’s tourism agency.
The 6,200 hotel and motel rooms in Manatee County and 5,027 in Sarasota County have an average occupancy rate of 95 percent during the tourism season.
There are a large number of new hotel projects on the books that could bring as many as 1,000 new rooms to the area over the next 36 months.
The city has approved the changes submitted to the original plan.
Source: www.bizjournals.com
The proposed 52-story tower in downtown Tampa passed another hurdle in the approval process.
The plans call for ground-floor retail, a restaurant and bar space fronting the Tampa Riverwalk. Above that will be seven stories of parking totaling more than 600 spaces. Floors eight through 22 will be 205,000 square feet of office space, and floors 23 to 52 will be 203 residential units.
Tampa Housing Authority will add 800 homes to the West River redevelopment project for a mixed-income neighborhood. The $500 million project is expected to take years to complete.
Source: www.83degreesmedia.com
More homes are being added to the plans for the West River redevelopment project being designed by the Tampa Housing Authority. Another 800 homes are now envisioned as part of the 1,600 already included in the $500 million redevelopment project.
The West River redevelopment project is part of the city of Tampa’s plans to transform a 194 acres of land along the Hillsborough River into a mixed-income neighborhood. The plan to add 800 new homes was made after re-evaluating the project.
This is going to massively change the surrounding area and there are now major redevelopment projects happening in virtually every direction from the urban core.
