‘Climate change risk’ may be spurring home buyers to steer clear of coastal Florida markets, study says


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Fewer Americans are scooping up coastal real-estate these days — and the risk of rising sea levels appears to be driving the trend.

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Researchers at the University of Pennsylvania studied the dynamics of coastal real-estate markets in Florida, where as many as one million homes are expected to be at risk of chronic flooding due to rising sea levels by the year 2100. Comparing homes in areas with more exposure to rising sea levels with those that are less at risk, the study found that today’s home buyers have far less interest in the more at-risk properties.

Before 2013, transaction volumes across these two sections of the market moved in tandem. But since then, they have diverged. The number of homes sold in the markets with the highest risk of “chronic inundation,” as some call it, fell between 16% and 20% from 2013 to

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Florida pursues control of federal wetland permitting — Tuesday, October 13, 2020 — www.eenews.net

Florida — home to the Everglades and sprawling wetlands, marshes and bogs — wants to become the third state in history to take over the federal government’s job of overseeing wetland and water permitting under the Clean Water Act.

Environmental groups in the Sunshine State warn such a handover could pull back critical federal oversight for fragile ecosystems.

Republican Florida Gov. Ron DeSantis submitted a request to EPA Region 4 this summer, asking for the agency to grant the Florida Department of Environmental Protection permission to take over the Section 404 program.

Developers of real estate, energy projects, agricultural activities, shoreline restoration and even boat ramps use the program to obtain permits for discharging dredge or fill material into wetlands and streams that fall under federal jurisdiction. Developers of projects that affect state and federal jurisdictional wetlands or surface waters must currently obtain both a state permit and a Section

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It’s the Best, and Worst, of Times for Business in Florida, Survey Finds | Investing News

Reuters

FILE PHOTO: An empty street is seen in Little Havana, Miami, after local authorities restricted the activities of restaurants, bars, gyms, movie theaters and other similar businesses for precaution due to coronavirus disease (COVID-19) spread, in Miami, Florida U.S., March 23, 2020. REUTERS/Carlos Barria/File PhotoReuters

(Reuters) – Florida is one of the five best states in the nation in which to do business, according to a new survey. It’s also one of the five worst, according to the same survey, thanks to COVID-19.

Every three years, Development Counsellors International, an economic development marketing firm, surveys executives to rank business climates in the various U.S. states. For the first time since they began doing the survey in 1996, a single state landed in the top five in both categories: Florida. The DCI report was released on Tuesday.

“The rationale for Florida being on both the best and worst lists was

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South Florida real estate market shifts from focusing on condos to single family homes

Not long ago, condos were the hot item in the South Florida housing market.

These days the bidding wars are being waged elsewhere.

“You live in a high rise because you like the area, and when the area businesses are shut down, there’s not much to do,” said Oscar Soberon.

A surge in people re-evaluating the urban lifestyle months after COVID-19 changed the landscape.

Soberon just moved to South Florida from Downtown Dallas, where he realized he was spending over $1,000 a month on condo fees for amenities he couldn’t use.

“I’ve heard there are a lot of people doing what I’m doing; migrating from north or bigger cities,” he said.

Tori Simkovic is looking to relocate from the happening Edgewater neighborhood to Southwest Miami-Dade but is finding she’s not alone.

“We picked our condo because it was close to Wynwood, and so we wanted to be near the bars

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South Florida Developers Donate To Trump, Other Candidates

From left: Jorge Pérez, Stuart Miller, Craig Robins, Louise Sunshine, and Russell Galbut,(Credit: Patrick McMullan via Getty Images)

From left: Jorge Pérez, Stuart Miller, Craig Robins, Louise Sunshine, and Russell Galbut,(Credit: Patrick McMullan via Getty Images)

As the presidential election nears, The Real Deal examined top South Florida real estate players’ political donations this year, and found they largely skewed in one direction.

A number of developers supported Republican candidates and causes, including Craig Robins, Stuart Miller and Russell Galbut.

Related Group developer Jorge Pérez and real estate adviser Louise Sunshine were among the few to donate to former Vice President Joe Biden’s campaign, according to TRD’s analysis of filings with the Federal Election Commission.

Here is a look at some of the political donations real estate developers and brokers made in 2020:

Craig Robins

The Miami Design District developer has written checks totaling $25,000 this year. Robins, president and CEO of Dacra, gave $12,500 to the Gimenez Victory Committee, $5,600 to Carlos Gimenez for Congress, $5,000

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Trump resumes campaign with Florida rally 10 days after COVID-19 disclosure

WASHINGTON (Reuters) – President Donald Trump will try to put his bout with COVID-19 behind him when he returns to the campaign trail on Monday, beginning a three-week sprint to the Nov. 3 U.S. election with a rally in the battleground state of Florida.

FILE PHOTO: U.S. President Donald Trump takes off his face mask as he comes out on a White House balcony to speak to supporters gathered on the South Lawn for a campaign rally that the White House is calling a “peaceful protest” in Washington, U.S., October 10, 2020. REUTERS/Tom Brenner

The event at an airport in Sanford, Florida, will be Trump’s first campaign rally since he disclosed on Oct. 2 that he tested positive for COVID-19. Trump, who spent three nights in the hospital for treatment, said on Sunday he had fully recovered and was no longer infectious, but did not say directly whether he had

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Is Florida The Likeliest To Rebound First From COVID?

With Florida governor Ron DeSantis declaring the Sunshine State to enter Phase 3 late last month, restrictions were lifted at the state’s restaurants and other businesses. An unfettered return to business as usual seemed to synch with earlier predictions by real estate experts that Florida would prove the fastest to emerge from the COVID-19 crisis.

Before the pandemic swept in on the country in February and March, a migration to Florida was already underway. The health and financial crisis has only made it more likely the Sunshine State will profit from an array of trends impacting migration. They include the absence of state taxes, lower population density and more wide open spaces, meaning those migrating to Florida have more elbow room in which to hide from the virus.

In addition to Florida attracting newcomers from Latin America, specifically from Mexico,

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Hiring at SVN and Wagner, Re/Max Alliance top producers

Mark Hughes has joined Re/Max Alliance Group in the Venice office. He returns to Re/Max and the area after leading two of the West Coast’s largest brokerages and taking a real estate startup to sale.

Hughes is a former Sotheby’s International Realty affiliate owner and managing broker. He was president of Windermere Real Estate Services, where he oversaw operations and managed development, service activities and growth throughout Southern California.

Before that, he was the chief operating officer of First Team Real Estate, California’s largest independent real estate company. He then grew Newport Beach start-up Nook Real Estate until its successful sale to Compass in 2020.

For more than three decades, Hughes has accumulated comprehensive real estate sales and marketing success with a track record of delivering multimillion-dollar results.

He holds multiple state broker licenses and a bachelor’s from the University of Virginia.

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Two new members have joined the team

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South Florida real estate calendar for the week of Oct. 12

Most real estate conferences and talks this week highlight the impacts of the pandemic on the industry nationwide.

Oct. 13

The D.C.-based Urban Land Institute will host a three-day virtual conference “ULI Fall Meeting” starting Oct. 13. The talks start at 10 a.m. and run until 12:30 p.m. or 9 p.m., depending on the day. Topics include “Trends and outlooks: Where are we now and what’s next for the resort and hotel sector?” “Vibrant retail streets in the age of e-tail and Covid-19: Is it time for ‘retail first’ city policies?” “Access to capital: Challenges facing people of color — Part 1 of 3: Acknowledging the issue,” “Legislating density as a solution to the housing crisis: What’s working and why,” and “Found urban land: Reclaiming infrastructure for place making.” Speakers include RAND Vice President and Director of Social and Economic Well-Being Anita Chandra, Gensler Design Director Kelly Dubisar, The

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Florida Sees Signals of a Climate-Driven Housing Crisis

If rising seas cause America’s coastal housing market to dive — or, as many economists warn, when — the beginning might look a little like what’s happening in the tiny town of Bal Harbour, a glittering community on the northernmost tip of Miami Beach.

With single-family homes selling for an average of $3.6 million, Bal Harbour epitomizes high-end Florida waterfront property. But around 2013, something started to change: The annual number of homes sales began to drop — tumbling by half by 2018 — a sign that fewer people wanted to buy.

Prices eventually followed, falling 7.6 percent from 2016 to 2020, according to data from Zillow, the real estate data company.

All across Florida’s low-lying areas, it’s a similar story, according to research published Monday. The authors argue that not only is climate change eroding one of the most vibrant real estate markets in the country, it has quietly

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