Exclusive: Developer buys long-watched estate on South Tampa waterfront to build nine new homes
A developer has purchased the long-watched Cone estate on the South Tampa waterfront and plans to build nine single-family homes on the property. Steven Anthony Luxury Homes paid $12.75 million for the 4.32-acre property at 5108 W. Leona St. in Belmar Shores on Sept. 16, according to Hillsborough County property records. The site will be redeveloped to accommodate nine lots; while the builder initially planned 10 homes on the property, one buyer has reserved two of the lots, said Jeff Shelton, a…Original Article
Flippers are still making tens of thousands of dollars selling houses, but the evolving housing market is eating away at their profit margins. Here's what's driving the trend.
The housing market has been on absolute fire, especially since the Covid-19 pandemic. When the pandemic first hit home in the United States in March 2020, there was an immediate slump in homebuying activity as shelter-in-place orders and other government mandates were issued. Schools, offices and other public spaces closed, and everyone hunkered down for a wildly uncertain future. Predictions that the U.S. housing market would come back in the summer and continue into the fall of last year came…
Cooling temperatures usually signal a cooling housing market. Does that hold up in the wild housing market of the pandemic?
Small is still big for some real estate developers, despite macro changes from the Covid-19 pandemic where "more space" has widely been viewed as a bigger priority in housing decisions.
As Florida leads the nation in rising residential real estate prices, Jacksonville and Tampa Bay are leading the state.
The combined Philadelphia and Florida brokerages are expected to complete $5.5 billion in sales in 2021.
"This home sets the bar for what is possible in Tampa Bay’s real estate market."
While housing starts are still expected to end at a marked year-over-year increase from 2020, supply-chain issues and material costs are dampening builder optimism.
While the days of closed construction sites appear to be in the rearview mirror, the construction industry is facing another pandemic-related challenge in 2021: widespread vaccine hesitancy among its workforce.