Where the iBuying model goes after rapidly slowing housing market
The rapid cooldown of the U.S. housing market starting this summer has made the direct-homebuying business model known as iBuying a lot more challenging.Original Article
Gulf front home in Longboat Key sells for $11.5M (Photos)
A beachfront home on the Gulf of Mexico has sold for $11.5 million, becoming the third highest-priced residential sale in Longboat Key's history and the second-highest this year. The 10,000-square-foot home is located at 3105 Gulf of Mexico Drive and features expansive windows, an elevated spa, a waterslide and a rooftop deck. Team Dunn of Michael Saunders & Co. represented the buyers in the sale, which was the highest-priced sale for an agent affiliated with the company’s Siesta Key office. The…Original Article
Davis Islands property that already set one record this year sets another in $9M sale
A waterfront lot on Davis Islands has sold in an off-market, record-setting deal — marking the second time this year that the property set a new high benchmark for residential land in the Tampa Bay market. The vacant lot at 202 Blanca Ave. sold for $9 million to Christian Michalik on Nov. 9, according to Hillsborough County property records. Michalik, the managing director of Kinderhook Industries, was chairman of WellCare Health Plans before it was acquired by Centene. The seller was a Colorado…Original Article
Ohio investor acquires Pinellas apartments for $64 million
The apartments opened in 2022.Original Article
$10M Sarasota beach home set for auction in December
A private residence overlooking the beaches of Lido Key in Sarasota is being auctioned by DeCaro Auctions International. Better known as the "The Pirate House,” the home at 15 N. Polk Drive is designed by DSDG Architects and influences the modern Miami Beach art deco movement. The home includes five bedrooms, five and a half baths, porcelain tile flooring, custom electronic touch and close cabinetry, Wolf appliances, and a quartzite statement island with a waterfall edge. It also includes a…Original Article
40 Under 40 honorees build Habitat for Humanity homes in Clearwater (Video)
The 2022 class of Tampa Bay Business Journal 40 Under 40 honorees recently participated in a Build Day with Habitat for Humanity of Pinellas and West Pasco Counties. The majority of the class worked on two homes next door to each other in Clearwater. “When we got together with Habitat, this was a brainchild like why don’t we do a build, why don’t we do something where we can come together, spend time together, give back to the community and tackle affordable housing? That is one of the…Original Article
Report: Housing market set to rebalance, Zillow reports
As the housing market starts to rebalance, a report from real estate website Zillow shows that first-time homebuyers and sellers are unsure what the market will look like in the future. Nearly half of agents (46%) surveyed by the site say the biggest misconception among aspiring homebuyers is that home prices will significantly fall, while more than a third of agents (35%) say prospective buyers mistakenly think they should wait for high mortgage rates to come down. Zillow’s research predicts…Original Article
Housing markets with highest share of equity-rich households undergo biggest corrections
Even with a rapidly cooling housing market, homeowners across the U.S. are sitting on near-record levels of equity.Original Article
Largo apartments sell for $58.55 million
The Waterchase Apartments are located near Largo High School and the Teakwood Village mobile home park.Original Article
Miami developer plans $200 million mixed-use project in downtown Tampa’s Encore
A Miami developer plans to build a $200 million mixed-use project in downtown Tampa’s Encore, adding apartments, hotel rooms and retail space to the urban district. LD&D said it will acquire the 2-acre parcel at 1101 E. Harrison St. from the Tampa Housing Authority, though a deed for the transaction has not yet been filed in Hillsborough County. On Oct. 18, city staff notified representatives for the developer that the proposal was approved to move forward. The project will include a 28-story,…Original Article