Boca Raton Rental News & Updates

Fla. house flippers seek inner-city profits

Apr
18
2011

WASHINGTON – April 18, 2011 – More investors are taking on the risk of flipping homes, despite falling home prices and sluggish real estate markets across the country. But investors say there are still profits to be made in the house flipping business.

Nearly 1 million homes were bought as investment properties in 2010, according to the National Association of Realtors®, and a record number of buyers purchasing properties with cash currently are flooding the market.

Flipping homes for profit is easier in rising markets, but not many markets are reporting increases in home prices, analysts say. In Washington, D.C., Justin Konz of RestorationCapital says his clients are going through four or five properties a month and are making gross profit margins of 35 percent or higher.

Rising rents could spark more buyers

Apr
14
2011

WASHINGTON – April 14, 2011 – Apartment bargains once dominated the housing market, but those bargains have slowly faded away. As vacancies decrease and rents rise, renters are finding fewer deals.

Analysts expect vacancies to decrease even more and rents to continue to rise through 2013 as the economy continues to improve.

In 2011, rental activity recorded its best start for the year since 1999, according to Reis Inc. Vacancy rates have fallen to mid-2008 levels and rents have increased for the past five quarters, now averaging $991 per month nationwide.

Two Fla. cities set for dramatic turnaround

Apr
13
2011
WASHINGTON – April 12, 2011 – Kiplinger.com names two Florida cities – Jacksonville and Orlando – to its list of 11 comeback cities in 2011. According to the website, 2011 will see a “dramatic turnaround – new investment by businesses, growth in the number of jobs and a reblooming of hope” in the noted cities.
 
The website did not list the cities in any particular order.
 
Orlando
Kiplinger predicts that Orlando employment will increase by 3 percent this year. It points to an improvement in tourism for the vacation destination, but also points to the growth of a “life science cluster of medical care and research.”
 
Jacksonville
Kiplinger expects job growth of 2.8 percent this year. It points to increased demand from financial service firms, hotels, health care, restaurants and warehousing.
 
Other cities in the top 11 for a turnaround include:

Double-digit rent rise is coming to the housing market

Mar
17
2011

By Les CHristie, Staff Writer CNNMONEY

Renters beware: Double-digit rent hikes may be coming soon.

Already, rental vacancy rates have dipped below the 10% mark, where they had been lodged for most of the past three years.

"The demand for rental housing has already started to increase," said Peggy Alford, president of Rent.com. "Young people are starting to get rid of their roommates and move out of their parent's basements."

By 2012, she predicts the vacancy rate will hover at a mere 5%. And with fewer units on the market, prices will explode.

Million-dollar lifestyle on a middle-class income

Mar
01
2011

By Jon Busdeker, Orlando Sentinel

John and Faith Forsythe live in a million-dollar mansion on Deer Island, but they don't own it. And they're not renters, house sitters or squatters either.

The Forsythes are "home managers" with Showhomes Orlando, a home-staging company that specializes in placing individuals and families in upscale homes for sale.

For a fee of $1,700 a month, excluding utilities, the Forsythes live in a 4,500-square-foot lakefront home with five bedrooms, four-and-a-half bathrooms, a heated spa, hand-carved marble mosaics, 20-foot ceilings and a boat dock.

"It feels like this is our home," Faith Forsythe said.

The 25-Year 'Foreclosure From Hell'

Dec
07
2010

By Robbie Whelan, The Wall Street Journal

Patsy Campbell could tell you a thing or two about fighting foreclosure. She's been fighting hers for 25 years.

The 71-year-old retired insurance saleswoman has been living in her house, a two-story on a half acre in a tidy middle-class neighborhood here in central Florida, since 1978. The last time she made a mortgage payment was October 1985.

And yet Ms. Campbell has been able to keep her house, protected by a 105-pound pit bull named Dodger and a locked, rusty gate advising visitors to beware of the dog.

"They're not going to take this house," says Ms. Campbell. "I intend to stay in this house and maintain it as my residence until I die."

Lennar community turns common into uncommon

Jul
01
2010

July 1, 2010 | South Florida Sun Sentinel

 

EAST BOCA RATON

 

It's time to get a different perspective on East Boca Raton living with Lennar's Library Commons. Come see why this is one of the hottest new communities in Boca Raton, and why Lennar has sold five homes in two months. This community takes the "common" and turns it into an "uncommon" experience filled with lifestyle amenities that are within your reach by living in a community with a downtown Boca Raton address. If you think you know about Library Commons, then it is time to take another look and visit the three decorated models that are open to tour.

 

Library Commons has re-designed floor plans and new prices that make this community the perfect option for any homebuyer looking to enjoy the lifestyle found in East Boca Raton. Known for its lifestyle, culture and warm sunny weather, Boca Raton offers an engaging urban scene. Situated right in the center of it all is Lennar's Library Commons. This intimate community of only 85 residences is an enclave of townhome and single-family luxury residences blending luxury, lifestyle and location into one unique place to call home. All home sites are laid out to provide walkways and gardens to foster a neighborly community feel while still offering privacy.

 

Lennar's Library Commons offers a variety of versatile two- and three-story floor plans ranging from approximately 2,578 to 3,647 air-conditioned square feet of living space. The exteriors of the homes boast architectural detailing with either Tuscan, Spanish or Classical influences. A residence in Library Commons affords location conveniences that make the community a standout. Plus, right now, buyers can choose between a pool package, or $20,000 in additional upgrades on selected homes. Library Commons residents also enjoy a swimming pool and sundeck area that feels similar to an intimate Italian village. All residences are steps away from upscale shopping and dining that come with the Boca lifestyle.