With foreign tourists boycotting the U.S., businesses brace for falling sales

The U.S. is poised for weaker tourism from overseas this year amid tensions tied to trade and immigration.

Related Urban seeks extension of a ground lease for Live Local project in Miami-Dade

Related Urban is seeking more years on a ground lease to develop a Live Local Act mixed-income multifamily and office complex on a Miami-Dade County public housing site.  The deal could generate $97.4 million over a century for the county, according to Miami-Dade officials.  On Tuesday, the Miami-Da

eXp Realty launches land and ranch division

eXp Realty has launched a new land and ranch division to serve real estate agents who specialize in rural, agricultural and recreational properties, the company announced this week.The new division is designed to support agents working in a growing sector of the housing market with tools tailored to

Deadline looms in Minnesota property tax forfeiture lawsuit

Thousands of Minnesota residents who lost homes over property taxes may now be eligible for compensation, following a landmark U.S. Supreme Court ruling and a resulting $109 million class-action settlement fund.The case began with Geraldine Tyler, a 94-year-old Minneapolis woman who owed $15,000 in

Lenders witness surge of mortgage demand this week

It’s probably too early to get excited, but several lenders reported that mortgage demand climbed to 2022 levels this week. After months of hovering in the high 6% range—and most recently dipping to 6.84%— declining mortgage rates may finally be luring buyers back. Applications rose 11% last week, a

Los Angeles County event will assist reverse mortgage borrowers with wildfire recovery

The communities engulfed in the Los Angeles-area wildfires continue to recover and pick up the pieces. And representatives of Los Angeles County have signaled they want to provide specific guidance for impacted reverse mortgage borrowers to navigate issues that arise with these loans in disaster are

Why federal support for tiny homes could be a game changer

As homelessness continues to rise nationwide, one nonprofit is pushing for a paradigm shift.DignityMoves, a San Francisco-based organization, has been leading the charge for what its founder and CEO Elizabeth Funk calls “interim supportive housing.”These cost-effective tiny home communities aim to h

Some cities, states embrace property tax refunds for older homeowners

Older homeowners living on a fixed income have a higher chance of seeing their finances destabilized by rising costs, and that can be particularly true of something like property taxes. For homeowners who have either a forward or reverse mortgage on their home, these costs also must be paid in order

Nevada senator accuses Republicans of ‘land grab’ with late federal amendment

Following the revelation this week that Republican lawmakers in the House of Representatives added an amendment to a bill that would authorize the sale of thousands of acres of federal land in Nevada and Utah, a Democratic senator has called foul on the nature of the effort.Sen. Catherine Cortez Mas

Resi roundup: Billionaire Li Ge sells Fort Lauderdale mansion 

In the latest roundup of South Florida luxury real estate deals, Chinese billionaire Li Ge sold a waterfront mansion in Fort Lauderdale. Deals spanned Miami Beach to North Palm Beach, and ranged in price from $8.2 million to $12.3 million. Miami Beach In Miami Beach, a businessman sold a waterfront

Washington’s ‘upzoning’ law seeks to expand supply as Seattle home prices soar

A new law going into effect this summer in Washington aims to address the state’s housing supply woes. The legislation lifts zoning restrictions to allow for more multifamily development and comes as the median single-family home price in the Seattle area set a new record by exceeding $1 million.H.B

Panattoni seizes Flagler Station offices in deed in lieu, pays $21M for nearby building

Bridge Investment Group relinquished a Miami-Dade County office building in a deed in lieu of foreclosure and sold a nearby property for $20.8 million.  The deals came as both buildings are struggling with high vacancies.  Panattoni Development acquired both the half-vacant Building 1100 at 10451 No

New York bill targets lender payouts in deed fraud cases

State lawmakers in New York have introduced legislation that would block mortgage lenders from receiving title insurance payouts when real estate transactions are later found to be based on stolen deeds.S.B. 7732 was introduced May 2 and seeks to prohibit title insurers from compensating lenders for

Realterm buys industrial outdoor storage in Pompano Beach for $25M

A logistics real estate company bought an industrial outdoor storage site in Pompano Beach for $25 million.  Annapolis, Maryland-based Realterm purchased the property at 3120 Northwest 16th Terrace, according to the buyer’s news release. Entities led by Scott Daiagi sold the two-lot site, records sh

Louis Birdman and partners win approval for mixed-use development with 618 apartments in Hollywood

Developer Louis Birdman and partners advanced plans to build 618 apartments in Hollywood, as part of a mixed-use development on a city-owned brownfield property just west of I- 95. The Hollywood City Commission voted Wednesday to rezone the site from “government use” (GU) to “planned development” (P

Moderno and Gaia launch first phase of $300M single-family home fund for Miami’s urban core

As many developers go vertical with condo projects across South Florida, Moderno Development Group and Gaia Real Estate Holdings are betting on continued demand for single-family homes.  The two firms launched a $150 million fund called MILAS, which stands for Miami land and single-family, to buy hu

Riviera Beach approves 25-story mixed-use condo project

Forest Development’s Peter Baytarian can move forward with plans to build a pair of 25-story mixed-use condo towers in Riviera Beach. The Riviera Beach City Council Wednesday evening unanimously approved a pair of resolutions tied to the project, called Oculina, to be built at 3700 Broadway.  Design

Ladder Capital sues Banyan Street’s Rudy Prio Touzet over $39M loan for Maryland building

Banyan Street Capital’s Rudy Prio Tourzet is allegedly on the hook for $3.6 million tied to a distressed office property in Maryland. In a recent lawsuit filed in New York State Supreme Court, Ladder Capital alleges Touzet signed as a guarantor on a delinquent $38.5 million loan secured by an office

Digital marketing boss sells Delray Beach mansion for $24M 

Digital marketing boss Jeffrey Herzog and his wife, Jill Herzog, sold their Delray Beach mansion for $23.5 million in an off-market deal. Records show the Herzogs sold the house at 9480 Bent Grass Court to the ST Land Trust with attorney Parker F. Taylor signing on behalf of the buyer. The true buye

Developer plans nine-story hotel near downtown Fort Lauderdale

A Connecticut-based developer plans to build a nine-story hotel just east of downtown Fort Lauderdale and operate it under the Canopy by Hilton brand. New Castle Hotels & Resorts won city approval Tuesday for the 172-room hotel one block east of Federal Highway and two blocks north of East Las Olas