Regardless of market conditions at the time, buying a home can lead to dissatisfaction without exercising due diligence. Dissatisfied home buyers can then lead to higher vacancy rates in a subdivision, push property values lower and put a damper on future land development in the area. One experienced home buyer shares residential real estate tactics that improve the chances of Florida residents getting into a home they love and can afford.
A combination of market forces and more conservative lending practices are making it more difficult for commercial property developers in Florida and around the country to refinance their loans, according to some industry experts. Developers planning new projects generally take out construction loans that must be refinanced after five to seven years, but insiders say that fears about a looming commercial real estate asset bubble and strict new regulations introduced by laws like the Dodd-Frank Wall Street Reform and Consumer Protection Act have made banks less willing to lend.
Consumers in Florida and around the country are doing more of their spending online, and many of the nation's biggest brick-and-mortar retailers are struggling to keep their doors open as a result. The commercial real estate market reflects the economy as a whole, and demand for warehouse space is strong while malls across the country are closing. A sluggish retail sector has not helped, and the Federal Reserve has taken action in recent months partly to curb real estate speculation.
Property owners might be interested in a case that is currently pending in Florida. The case involves Collier County and the lawsuit that was filed and won against it by a subsidiary of CVS Health called RTG and Holiday CVS. In that case, a jury awarded the plaintiffs $6.5 million in an eminent domain case.