What homebuyers need to know about escalation clauses
People who have signed contracts with homebuilders recently may be surprised to see an unexpected line item in their contracts: escalation clauses. While the wording and terms of escalation clauses can vary per contract, their purpose is the same. They require the homebuyer to cover an agreed-upon portion of material and labor costs that increase from the time the contract is signed to the time the build is complete. For example, let’s imagine a homebuyer signs a builder contract for a $1 million…Original Article
The condos will be priced from the high $700,000s.
Sun Belt metros continue to be one of the hottest places for homebuilders throughout the nation, according to a new report that highlights which areas need it the most as inventory continues to dwindle. Seattle-based Redfin Corp. (NASDAQ: RDFN) recently found that 49 of 53 U.S. metropolitan areas with more than 1 million residents issued more single-family building permits per capita in the first quarter than they did on average in the 10 years before the pandemic. While homebuyer demand has started…
Tampa Mayor Jane Castor addressed the city's red-hot real estate market and affordability crisis before turning the microphone over to former Mayor Bob Buckhorn, who started working on the tower halfway through his first term in office.
Florida lawmakers gave final approval Wednesday to a plan to bolster the safety of condominium buildings, after the devastating collapse last year of the Champlain Towers South building in Surfside.
An apartment tower first proposed in downtown Tampa in 2013 will finally celebrate its groundbreaking Thursday. Coastal Construction, the general contractor on the project, said Wednesday it will hold a ceremony to commemorate the beginning of construction for Arts and Entertainment Residences. The developer is a partnership of Miami-based American Land Ventures and the North American affiliate of Tel Aviv-based Gazit Globe Ltd. Jeff Mooallem, president and CEO of Gazit Horizons Inc., first confirmed…
The 308-unit apartment complex has been sold to a group connected to to Denver-based Treeline Partners.
While the Legislature couldn't get a deal together during the regular session, negotiations resumed in special session.
"I see this as an industry that essentially has Stage 4 cancer and is failing. The solutions here are as if we’re treating it with Stage 1 cancer."
The home fronts the Gulf of Mexico and comes with a built-in saltwater aquarium.