Peter Fitzgerald

#singlefamily #rentals are in high demand in Southeast #Florida, propping up rent growth, while demand-supply dynamics continues to put downward pressure on #multifamily asking rents. Of 33 municipalities, 18 had stable/higher #singlefamily asking rents while only 8 had stable/higher #multifamily asking rents as of June 2024 from one year ago, according to #MIAMI #MLS and Rental Beast data. The rising demand for single-family homes indicates a desire for the amenities and lifestyle associated with #homeownership as elevated #mortgage rates and sustained #price appreciation have widened the gap between #owning to #renting by about $1000 per month. Single-family home #investors ( mom and pop) and institutional SFR developers/ investors could expect good investment returns given the strong demand for rentals. Meanwhile, #multifamily asking rents continued to decline y/y as new #deliveries outpaced net #absorption. In multifamily buildings with over 50 units, nearly 9,000 units were delivered into the Miami-Dade, Fort Lauderdale, and Palm Beach market areas, while 6,800 units were absorbed (net), according to Cushman & Wakefield data. However, the long- term outlook for multifamily asking rent growth is positive, as the area continues to see strong #job growth, elevated #migration from pre-pandemic levels, and recovery of net international migration and #tourism. Download the June 2024 #Southeast #Florida #Residential #Rental Report at https://lnkd.in/efTfti4P Miami Association of Realtors MIAMI Commercial BROWARD-MIAMI, a Division of MIAMI REALTORS® JTHS-MIAMI, a Division of MIAMI REALTORS® Young Professionals Network (YPN) Miami

24

6 Comments

With higher #mortgage rates and sustained price appreciation, #cash buyers have increasingly comprised a higher share of Southeast Florida's home sales. The share of all-cash buyers has increased at both the lower price-point (less than $300,000) and the #million-dollar homes segment. On the one hand, the rising share of all-cash buyers of million-dollar homes is an indicator of the rising and sustained interest of wealthy buyers and the flow of #wealth into Southeast #Florida, either from out-of-state or international buyers. The migration of wealthy buyers creates more economic impact by fueling more second-round spending which affects the #retail #commercial real estate. On the other hand, the rising share of all-cash buyers in the lower-end of the market is another indicator of how the erosion in #affordability has sidelined the typical buyer who needs a mortgage. Falling mortgage rates should improve affordability somewhat. MIAMI forecasts the 30-year rate to fall to 6.6% December 2024 and 5.7% by December 2025 Check out our latest May 2024 #Southeast #Florida #Housing Metrics Report. https://lnkd.in/eB2axygA Miami Association of Realtors BROWARD-MIAMI, a Division of MIAMI REALTORS® JTHS-MIAMI, a Division of MIAMI REALTORS® MIAMI Commercial #miamiforwardthinking #miamiforwardfocus

18

4 Comments

🏡📷 Introducing your updated weekly #marketsnapshot for the week of April 22nd - April 28th, offering a real-time view of the dynamic #southwestfloridarealestate market. 📈 I'm your go-to expert for all things related to real estate in our local Southwest Florida community. Reach out to me for personalized market insights, property evaluations, or any real estate questions you may have at 239.977.9939 📲 #coldwellbanker #localexpert #marketinsights

1

Southeast #Florida's housing market perked up in April 2024 even as #mortgage rates rose. The news that has been coming out on the #condominium/townhomes market is trying to project a collapsing market, but THAT IS NOT THE CASE. Condominium sales rose in Miami-Dade, Broward, and St. Lucie though sales fell in Palm Beach County and Martin. Despite the uptick in supply, especially in the condo market, the median sales price rose in four counties (except Martin). In Miami-Dade, the condo/townhome median sales prices have increased on an annual basis since June 2019; in Broward, since June 2020; in Palm Beach, since November 2019 despite the tide of rising mortgage rates and the new condo safety bill. Single-family existing home sales rose from one year ago in all counties except Martin County. The median sales price rose in all counties. You can find the latest data at https://lnkd.in/e9nUeWyQ Miami Association of Realtors BROWARD-MIAMI, a Division of MIAMI REALTORS® JTHS-MIAMI, a Division of MIAMI REALTORS® Young Professionals Network (YPN) Miami MIAMI Commercial #miamiforwardthinking #miamiforwardfocus

17

2 Comments

https://lnkd.in/eTUWm6Yn Are you ready to elevate your real estate investment game? Join us for an exclusive 2-Day Multifamily Masters Event in beautiful Boca Raton on June 28 and 29! Whether you're a seasoned pro or just starting out, this event is designed to help you find and close on large multifamily deals without using your own money or credit. 🌟 Highlights of the Event 🌟 Expert Guidance: Learn from the renowned Nizan Mosery and other special guests who will share their secrets to successful multifamily investing. Mindset Transformation: Our Tony Robbins coach will inspire you to radically shift your mindset, empowering you to believe in your ability to do BIG deals. Unique Opportunities: Discover why there is virtually zero competition for large multifamily buildings compared to single-family houses, and how you can seize this moment when the demand for these spaces is at an all-time high. Practical Experience: Don’t be intimidated by the size of the buildings. We’ll show you that you’ve got what it takes to succeed. Our goal is to help you find your first deal in 90 days or less! Hands-On Learning: Come with a great attitude and be ready to work. We are deal finders, and together, we will find you a deal! BOOM! Event Details: 📅 Dates: June 28-29, 2024 📍 Location: Hyatt Place Downtown, Boca Raton, FL 💰 Early Bird Discount: $297 (Original Price: $495) This is more than just an event; it's an investment in your future. You’ll gain invaluable insights, network with like-minded investors, and set yourself on the path to thriving in the multifamily real estate market. Don’t miss this opportunity to unlock your real estate potential. Put this date on your calendar now! Secure your tickets here: https://lnkd.in/eTUWm6Yn First 10 tickets, add 20% off - promo code: 2DayMM-NAR Cheers! Cesar Costa, Eng., MBA Atman Multi Capital Owner of HouseMaster Inspections

6

Attention Florida real estate investors! 🎯 Tired of title companies that don’t understand YOUR business? At Title Now, we specialize in investor deals—double closings, assignments, you name it. With 500+ 5-star reviews and the ability to close anytime, anywhere, we’re the partner you’ve been looking for. Watch this video to see how we can help you close deals faster and stress-free. 💼💰 Share with your investor network—you don’t want to keep this to yourself! 🔑 #RealEstateInvesting #DoubleClosing #AssignmentDeals #FloridaRealEstate #TitleCompany #InvestorLife

2

9500 Babcock Street, Palm Bay, FL 32909 Sale Price: $65,000,000 Lot Size: 2,123+/- Acres Property Video: https://lnkd.in/gyg4_RbK The subject property is conveniently located in the City of Palm Bay 2.5+- miles South of the Saint John's Heritage Parkway- I- 95 Interchange at the North West corner of Babcock Street and Centerline Road Brevard County Florida. This provides the property and its future development easy access to anywhere in Brevard County and the State of Florida. Just North at the intersection of Babcock Street and the Saint John's Heritage Parkway is a new Publix Grocer and several other soon to be national retailers and restaurants. The City of Palm Bay is a dynamic City located in Brevard County Florida. According to the 2020 United States Census the population was at approximately 119,760+- residents. However, the City has experienced a 7.9% growth rate from 2020 to 2023 estimating the population now at approximately 129,234+- residence. According to U-Halls Annual Growth Index the Palm Bay- Melbourne corridor ranks third among the fastest growing cities in the United States making it the most populous City in Brevard Country Florida and the largest by the land area. The City of Palm Bay is also home to such major employers across various industries such as: L-3 Harris Technologies a leading edge defense and technology corporation. Renesas Electronics a leading edge semiconductor and microcontroller corporation. Raytheon Technologies a major aerospace and defense corporation and MC Assembly a major electronics manufacturing service provider and producer of circuit boards and assemblies for various local, national and international corporations; all making the City of Palm Bay a very attractive place to live and work. The property is currently the largest and contiguous available single ownership developable property in the City of Palm Bay and has been labeled by many as the next "Development Frontier" of Brevard County and Palm Bay Florida #BabcockStreet #PalmBayFlorida #CalumetFarm #IncomeProducingLand

4

1 Comment

I-95 and Coastal Lane, West Melbourne, FL 32904 Sale Price: $3,500,000 Price / Acre: $139,949.618 Property Video : https://lnkd.in/e8e-6iHH The subject property is a vacant land parcel consisting of 26.33 +/- acres. To the direct north of the property, preparations are being made for the new Interstate 95 interchange at Ellis Road, which will provide a future direct route to the Orlando Melbourne International Airport passenger terminal. To the south, the proposed Space Coast Town Center is anticipated to impact and accelerate the demand and pricing for development land opportunities in its proximity, which includes the subject property. This 170-acre project development will be a nexus of activity, drawing a broad range of consumers and could allow for 61 planned buildings., including 257,000 SF of Retail, Grocer: 30,000 - 60,000 SF, Residential: 1,800 to 2,000 multifamily residences, Office: 360,000 SF, Hotel: Two hotels - 250 to 300 keys. There exists a 30-foot wide access and utilities easement that extends along the eastern border of the property. Ingress and egress is possible via three (3) public right-of-ways to John Rodes Blvd and Coastal Lane. Providing developable access via Coastal Lane from US Highway 192 would require construction of an additional 2,017 linear feet of road. The closest municipal water service line is located 575 south of the southern property line and is serviced by the City of West Melbourne. The nearest municipal sewer line is located 650 south and 300 feet east of the southeast corner of the subject property. This sewer line would require a lift station. City of West Melbourne Zoning: M-2 General Industrial / FLU: Industrial. This zoning designation allows for (but is not limited to) the following uses: general manufacturing and assembly, warehousing, general industrial functions. Brevard County is thriving and has become home to several aerospace-support industry giants, such as NASA's Kennedy Space Center, Blue Origin, OneWeb Satellites, Firefly and remaining the corporate hub for professional leaders including Lockheed Martin, Harris/L3 Company, Northrup Grumman, Embraer and others. Tax ID: 2704573 / PID: 27-36-34-00-1 #CoastalLane #WestMelbourne #FloridaRealEstate #Florida #HeavyIndustrial #CityOfMelbourne

1

Atlanta Real Estate Recovery: Growth in 2024 Revealed Discover how Atlanta's occupancy rates and revenue are rebounding in 2024, showing significant improvements compared to the previous two years. Join us as we analyze these trends and discuss their impact on hosts and nightly rates. #AtlantaRealEstate #OccupancyRates #RevenueGrowth #2024Trends #RealEstateMarket #AirbnbHosts #NightlyRates #HousingRecovery #MarketAnalysis #InvestmentOpportunities

3

 🏢 Coming Soon! Office building located at 5226 Indian River Road, Virginia Beach, VA 23464. This 13,125 sq ft building is fully leased to four stable tenants, offering attractive returns and potential rent growth. Strategically located near Indian River Road & Kempsville Road, it's an exceptional investment opportunity. With leases structured for income growth, 5226 Indian River Road is your prime investment. 💥 Don’t miss out on this prime investment! Contact Kristina Ermyakina, MBA for more details! #CommercialRealEstate #InvestmentOpportunity #VirginiaBeach #RealEstateInvesting#

4

South Florida Commercial Real Estate Performance Summary Office and Retail Properties Show Widest Divergence in Performance Relative to Nation Over the last year, the South Florida commercial real estate market has remained resilient despite the wider economic slowdown. Still, moderate demand across property types has slowed rent gains, while new construction has widened space availabilities, particularly in the multifamily and big-box industrial segments. The most significant change from our prior update has been the marked slowdown in asking rent growth for the industrial segment. In 2023, industrial rents increased nearly 10%, but annual rent growth has now slowed to around 5% across the region. A slowdown in leasing activity, specifically from large third-party logistics (3PL) players, has impacted net absorption, with markets like Fort Lauderdale seeing net move-outs totaling over 700,000 square feet over the last year. Absorption is the change in the number of occupied square feet. Although large properties have around two to three years of supply availability, market participants have indicated that the institutional background of most of South Florida's large-block developers means they can afford to wait for the right tenant. Rather than dropping rent, landlords are offering a couple of months of free rent and tenant improvement allowances.

1