Development is a family affair for Serenity Capital Management
A new developer has entered Tampa's residential real estate market.Original Article
Sarasota apartment sale sets record price per unit
The deal was completed before the current interest rates started to run, which allowed for the record-setting deal.Original Article
Westshore apartments sell for $132 million
A large apartment complex on the Westshore waterfront has been sold to a Dallas investment firm.Original Article
Edge district project in St. Pete gets $3M in county funding for office space
The county approved funding for Class A office space the developers intend to build on the site.Original Article
With a hat tip from Welch, 42-story Art House condos break ground in downtown St. Pete
Wednesday's ceremony wasn't just about luxury development: Kolter Urban has also significantly upped its contribution to workforce housing in St. Petersburg.Original Article
Report: Tampa home prices continue to rise, up over $413K
Tampa Bay led all metros in Florida for the proportion of home sales in May.Original Article
Adjustable-rate mortgage applications rise in Tampa Bay alongside climbing interest rates
Adjustable-rate mortgage applications hit a 14-year high of 11% of total mortgage applications in May, according to a Mortgage Bankers Association report. ARMs, which played a central role in the 2008 housing market collapse, are trending upward in Tampa Bay alongside rising interest rates, but they aren’t a reason for concern, according to Bank of Tampa Pinellas Market President Owen LaFave. “The product has changed a lot since the last [economic] cycle. It’s not as risky,” LaFave told…Original Article
Davis Islands home listed for sale at $16 million (Photos)
A home on the Davis Islands waterfront is listed for sale at $16 million — a price tag that puts it at the top of Tampa Bay's luxury market.Original Article
Podcast: OneWorld Properties’ Peggy Olin on tapping foreign buyers, the impacts of Covid-19 and housing market shifts
Florida Business Minds is a weekly podcast from the Florida Business Journals, featuring interviews with leaders around the Sunshine State.Original Article
As mortgage rates continue to rise, housing affordability hits a 15-year low in Tampa Bay
Mortgage costs, skyrocketing home prices and interest rate hikes have made mortgages the least affordable since the Bush administration. Nationally, mortgage rates have increased by nearly 6% in early June. The data shows that a new purchase of a typical U.S. home at this rate would mean monthly mortgage payments of $2,127, which is 51% higher than a year ago and up 36% year to date. "Mortgage rates took an unprecedented leap skyward over the past two weeks and quickly multiplied housing costs…Original Article