South Florida Law Blog

According to a 2022 Census report, Florida now is the fastest-growing state for the first time since 1957 and the third largest state besides California and Texas. Florida’s population increased by 1.9% to 22,244,823 between 2021 and 2022. Since 1946, Florida’s percentage increase in population has fluctuated but remained positive. The advent of air conditioning in the 1950s brought increased […]

With economic uncertainty in the market, many homeowners are looking to adjustable rate over fixed rate mortgages. Why? Initially adjustable-rate mortgages, or ARMs, typically offer lower rates than fixed mortgage rates and then adjust at specific intervals over the life of the loan. Currently, ARMs look attractive to those home purchasers who are concerned with both higher mortgage rates, rising […]

There is a rise in homeowner associations attempting to block investors from purchasing residential properties for rental purposes. These groups claim that, by having companies buying rental properties, has actually led to a decline in property maintenance, making their neighborhoods less attractive and potentially lowering their property values. While homeowner associations typically enforce rules found in their documents, such as […]

Various economists are predicting that the home price growth will slow down. If this does not happen, home purchase prices will go further out of reach for homebuyers that the housing market overall will overheat. Already there is far more demand than supply, and far less affordable homes in reach of potential purchasers. While most of these economists prefer the […]

Whether Russia invades Ukraine has not only tremendous political but also global financial consequences. The United States has already threatened sanctions targeting Russia’s ability to send money throughout the world.  Perhaps the most far-reaching financial sanction would be to block folks in Russia the ability to use the internationally renowned and recognized Belgium based SWIFT system of payments that moves […]

“Branded” housing is definitely in vogue in South Florida. In the luxury residential real estate market, purchasers seek brand names such as Ritz Carlton, Four Seasons, Porsche, and Aston Martin as they consider homes.   The number of hotel branded residences, for example, doubled from 2010 and 2020. Why? Such high-end residences provide an array of services, ranging from spas […]

The number of homes sold last month decreased for the first time in a year, while prices remained stable. Closings in Palm Beach were down 10.0%, Broward 2.8%, and 3.5% in August as compared with last year, with the median sales price in Palm Beach being $480,000.00 (up 20% from last year); $495,000.00 in Broward (up 19%), and $500,500.00 in […]

The housing boom that we have experienced for the past year is slowing down. In fact, sales of new homes decreased in June to the lowest level since the early days of the pandemic in April 2020, according to the U.S. Census Bureau. Sales of new single family homes decreased to 19.4% below June 2020 levels, and are 6.6% of […]