South Florida Real Estate News | Linda Dunphy Realty Group

The Real Deal Miami

Home sales drop, prices rise in South Florida prior to Hurricane Irma’s landfall

Prior to the arrival of Hurricane Irma, South Florida’s residential markets continued posting declines in home sales and price increases, according to August figures from the Florida Realtors. Miami-Dade In Miami-Dade County, residential sales fell by 9.7 percent to 2,158 from 2,389 the year before. Single-family homes fared even worse, with a 13.4 percent drop in sales to 1,085 from 1,150, according to the Miami Association of Realtors. Existing condo sales, which excludes the preconstruction ... [more]

Hurricane Irma has already resulted in 20k flood insurance claims — and it’s still early

Hurricane Irma has already resulted in about 20,000 federal flood insurance claims in Florida, according to a top FEMA official. Roy E. Wright, head of the National Flood Insurance Program, said flood damage claims in Florida could total “several billion dollars,” adding that Hurricane Irma could generate more than the $11 billion in flood damage claims that resulted from Hurricane Harvey, according to the Miami Herald. “It’s a little too early to know the full impact ... [more]

Fed to start selling bonds, keeps interest rates steady

From TRD New York: The Federal Reserve said Wednesday it will start shrinking its bond portfolio in October following a unanimous vote, but low interest rates could still be here to stay. The Fed acquired the bonds in the wake of the 2008 financial crisis under a policy of so-called quantitative easing, which was designed to keep financing cheap and instill confidence in financial markets. The decision to start selling was widely expected. Meanwhile, 12 ... [more]

Fort Lauderdale approves Ocean Land’s luxury senior living tower

The Fort Lauderdale City Commission unanimously approved Riverwalk Residences of Las Olas, a senior and assisted living complex planned for downtown Fort Lauderdale. The commission approved the project on Tuesday, according to a press release. Ocean Land plans to build a 42-story, 401-unit tower with 152 assisted living residences and 57 memory care units. The building will sit on a 33,000-square-foot site at 333 North New River Drive East. Borges + Associates Architects is designing Riverwalk Residences, which ... [more]

The Real Deal’s fourth annual South Florida showcase is ON for Oct. 26!

Hurricane Irma my have left Miami battered and bruised, but South Floridians are a resilient bunch who are coming back stronger than ever. That being said, The Real Deal’s South Real Estate Showcase and Forum at Soho Studios will go on as scheduled on Oct. 26! In the aftermath of the storm, we’ve included another panel that will examine Irma and the effects of storm surge on South Florida real estate. Last fall we had ... [more]

Timeshare execs pay $6.4M for waterfront mansion in Fort Lauderdale

Shyla and Eric Cline, founders and executives at a Rockford, Illinois-based timeshare exit company, just paid $6.4 million for a new waterfront spec mansion in Fort Lauderdale, property records show. The 10,274-square-foot mansion at 2506 Barcelona Drive traded for about $623 per square foot. Records show the property was sold by a Fort Lauderdale-based company called Wayne Investments, led by Fiorenna and Aldo Israel. Aldo Israel is a real estate developer who operates through his company ... [more]

Powerhouse Gym to open at the Galleria in Fort Lauderdale

The Galleria at Fort Lauderdale announced that Powerhouse Gym will open a 20,000-square-foot facility in spring 2018, its first in South Florida. The gym will have a juice bar, tanning, and massage therapy. Renderings suggest the gym will feature an indoor soccer practice area in addition to exercise equipment and fitness classes. The space will be designed by Jewel Toned Interiors. Powerhouse Gym will be located near H&M and the offices at Regus, and will ... [more]