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Florida mansion sells for millions as the highest-priced sale ever in this swanky neighborhood

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Florida mansion sells for millions as the highest-priced sale ever in this swanky neighborhood


A Florida home recently became the highest-priced sale in its beachfront town’s history, thanks to its “coastal elegance” and much more. 

The roughly 4,000-square-foot beachfront home in Santa Rosa Beach, Florida, located on highway 30A, sold for $8.55 million — a sale the whole town is apparently still talking about. 

In the heart of WaterColor’s Gulf District, this five-bedroom, six-bathroom home was completely renovated in 2018 to give it a modern comfort vibe, Fox News Digital learned. 

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Maria McKenna, a luxury real estate adviser of the Spears Group at Compass, said that she represented the buyer from Chicago and that certain elements of the home stood out. 

“With its distinctive blend of coastal elegance, modern comfort and unparalleled panoramic gulf views, this home stands as a true gem in WaterColor’s Gulf District,” she told Fox News Digital.

home exterior

A Florida home recently broke the record for the highest-priced home sale in the town of Santa Rosa Beach.  (Dune Vacation Rentals / Fox News)

Sitting on an over 2,500-square-foot lot, the three-story home includes a first floor with a living room, sand and laundry room and more, according to the Compass listing. 

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The first floor also includes a king suite with a private bathroom.

It has an adjacent bedroom with two twin beds and an en suite bathroom, plus another room with two sets of twin bunk beds and a bathroom. 

Living room

The home is just about 4,000 square feet and was renovated in 2018.  (Dune Vacation Rentals / Fox News)

Fit for up to 12 guests, the home also includes two full-sized kitchens, including a wine cooler, a range stovetop and a grill on the front balcony porch. 

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Compass noted that the home has a private media room on the third floor near balconies that look out toward the coast. 

Home bathroom

The home sleeps 12 and has five bedrooms and six bathrooms.  (Dune Vacation Rentals / Fox News)

The luxury home also includes access to WaterColor’s private beach and amenities, such as pools and recreational facilities. 

For the area in Santa Rosa Beach, McKenna said this sale really increases the housing benchmark. 

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“Its acquisition continues to push the benchmark for excellence in the Northwest Florida real estate landscape, reflecting the evolving preferences of buyers seeking unparalleled coastal living experiences,” she said. 

Bunk bed room

One of the home’s bedrooms includes two twin bunk beds.  (Dune Vacation Rentals / Fox News)

She added, “It also underscores a trend of increased interest in the 30A market from major cities across the United States.”

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The 20-mile stretch of land off highway 30A between Destin and Panama, Florida, was named one of the top places to buy a beach home by Vacasa in 2023. 

House living room and bathroom

A home in Florida recently sold for millions of dollars in a popular neighborhood.  (Dune Vacation Rentals / Fox News)

A typical home along 30A costs about $640,000. 

With a cap rate of 4.6%, buyers can expect annual revenue of around $55,000 by renting it out

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FOX Business’ Breck Dumas contributed reporting.

For more Lifestyle articles, visit www.foxbusiness.com/lifestyle.



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Consumers may face higher beef prices from businesses

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Consumers may face higher beef prices from businesses


High beef prices have been weighing on U.S. businesses and consumers.

They have forced some businesses to make tough decisions about how to handle the increased costs, and some are passing the costs on to customers. 

Rob Passio, the owner of Lombardi’s Prime Meats in Philadelphia, told FOX Business correspondent Jeff Flock on “Varney & Co” that “there’s only so much you can absorb as far as the hit to your bottom line before you say to yourself you have to raise these prices.” 

The butcher shop, Passio said, hasn’t seen its customers balk at higher prices “because they see it.” 

EGGS ARE NOT THE ONLY EXPENSIVE FOOD: BEEF PRICES ARE ALSO ON THE RISE

ground beef

Organic ground beef Oct. 30, 2020, in Bavaria, Nuremberg (Daniel Karmann/picture alliance via Getty Images / Getty Images)

“They see the inflation. They see the pricing. You know, everything is up,” he told Flock.

Bureau of Labor Statistics inflation data measured by the consumer price index (CPI) showed prices for beef and veal were up 2.4% month-over-month and 7.6% year-over-year in February. 

The overall CPI posted a 0.2% increase month-over-month and a 2.8% jump year-over-year.

Courtney Schmidt, sector manager at Wells Fargo Agri-Food Institute, told FOX Business last month that high beef prices were driven by tighter U.S. beef production with consistent consumer demand.

The U.S. cattle herd is experiencing a down cycle, with cattle inventories at historically low levels in 2025, according to Schmidt.

Beef is more expensive

Demand for beef has remained strong since the pandemic, according to the American Farm Bureau Federation. (Kennedy Hayes/Fox News  / Fox News)

The U.S. Department of Agriculture (USDA) reported in late January that U.S. farms had 86.7 million head of cattle and calves. The count for beef cows specifically was 27.9 million, a decline of 1% compared to the same time last year, according to the USDA.

“I know they’re killing smaller cattle, so they’re trying, I guess, to kill them faster to create the supply that demand is needing,” Passio said. 

Some big companies source beef from Canada and Mexico, Flock reported on “Varney & Co.”

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President Donald Trump imposed 25% import tariffs on goods entering the U.S. from those two countries March 4 and, more recently, introduced exemptions for Mexico and Canada on goods under the United States-Mexico-Canada Agreement until early April.

Such a levy on imported beef would “increase the price,” according to Passio, adding that consumers “are going to pay for it.”

“My philosophy is to sell it as low as you can to show a savings, a value to the customer. And hopefully you have more customers to generate your revenue,” the Lombardi Prime Meats owner told Flock.  

beef in supermarket

Packages of beef are displayed for sale at a supermarket Jan. 12, 2023, in Foster City, Calif. (Liu Guanguan/China News Service/VCG via Getty Images / Getty Images)

In the U.S., ground beef averaged $5.63 per pound in February, while the per-pound price of boneless sirloin steak came in at $11.90, according to data from the Federal Reserve Bank of St. Louis. Those average prices were 9.6% and 1.6% higher, respectively, than the same month in 2024.

EGG PRICE SPIKE: WE ARE ‘PAST THE TOUGH PART,’ AGRICULTURE SECRETARY ROLLINS SAYS

The USDA projected in a report released this month that U.S. beef production is poised to amount to 26.685 billion pounds this year. 

Daniella Genovese contributed to this report.



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Is a Florida condo crisis brewing? Real estate developers claim rising costs are necessary

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Is a Florida condo crisis brewing? Real estate developers claim rising costs are necessary


High-rise condominium owners along the sunny and serene Florida coastlines are facing a costly reality, but prominent developers in the state argue surges in HOA fees and maintenance reserves are necessary to prevent a future tragedy.

“A lot of people have seen their maintenances double. They’ve seen some of the assessments become extremely unaffordable. It’s definitely impacted many residents here in Florida,” Gutman Development Marketing President Phil Gutman told Fox News Digital.

“There is a conflict, and the conflict is a bit complicated, and it’s a bit complex because you have three competing issues. One, you have the issue of safety. Two, you have older buildings,” Ian Bruce Eichner, The Continuum Company founder, also told Digital. “The last issue that comes from [the Condo 3.0 law] is a requirement that unless the condominium’s declaration, what the original offering said 50 years ago provides otherwise, you need 90% of the residents to agree to terminate the condominium.”

“We have the state, cities, city officials, code enforcement, city managers more involved in buildings. I think it’s important to prevent the next disaster, God forbid, the next catastrophe. Let’s not forget that there [are] thousands of old buildings, and thank God we didn’t see any other catastrophe except the Surfside building,” BH Group CEO and founder Isaac Toledano added.

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“I think the fact that you have more inspections, more regulations, I think it’s good for everybody and for everybody’s safety.”

High rise condos on Sunny Isles, Florida

Three prominent Florida real estate developers voice support for the state’s Condo 3.0 bill, even though it’s resulted in higher HOA and maintenance fees for unit owners. (Getty Images)

The higher condo fees are a result of the state’s “Condo 3.0” bill, passed by Florida Gov. Ron DeSantis in early 2024, less than three years after the Champlain Towers collapse in Surfside. The new bill dictates a new set of reforms, including how a building is maintained to how condo associations are governed. The oldest buildings and their residents are likely to see the most costly impending assessments.

“Any rational person has to be supportive of the legislation because it goes to the issue of safety. So while it may have a financial burden, we have an obligation – the state, the city, everybody has an obligation to keep people safe,” Eichner said. “So there’s no question that the law is something that, unfortunately, was a consequence of an event, but certainly it’s something everyone supports.”

According to recent data from Redfin, multiple Florida cities on the east and west coasts have year-over-year double-digit increases on condo fees. Tampa saw the sharpest rise at 16.7%; Fort Lauderdale had a 16.2% increase; the average median condo cost in Miami is $835 per month; and Key West has the highest median HOA fee at $1,063.

In some high-demand markets like Miami, unit owners at the 16-year-old 1060 Brickell Avenue building are required to split $21 million in special assessments after the board of directors reportedly identified areas of damage.

Many condo buildings that are 40 to 60 years old are more likely to be demolished and rebuilt as newer, luxury real estate projects, according to the developers.

“I think we’re going to see more and more of this transaction of prime real estate, older product getting replaced with the new product,” Toledano noted.

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“The shift that we see in the market is the appetite of older product, older units, many other owners willing to work with the developers, and they understand that if you live in a three-story building that was built in the 1960s, this building will probably have some serious assessments, a lot of improvements, and sometimes it doesn’t make any sense to go and replace the roof, the electrical, the mechanical, something that will cost millions of dollars,” the BH Group lead also said. “[You’re] better off [to] sell the unit.”

“Some of these buildings that are 50, 60 years old that really can’t be fixed anymore. Those buildings do need to come down,” Gutman explained. “If somebody has an apartment there that was worth $300,000 in the open market, and we come in at $750 [to] $800,000, I believe those people are in a much better position than they were, to be quite honest with you. But people will have to find possibly another area to live in, something that’s more affordable, something that’s newer, something that’s safer.”

While state lawmakers argue the Condo 3.0 law will improve the longevity and quality of high-rise buildings, there are fears that luxury mixed-use developers strip residents of deciding powers, add costly fees and price them out of their long-term homes – especially for retired or fixed-income owners.

Gov. DeSantis’ office did not respond to Fox News Digital’s request for comment.

Eichner posed an example: “You have a building that is 62 years old, has $12 million in deferred maintenance, has a population of 20 or 25% of the building that’s retired, and that 20 or 25% either doesn’t want to move, doesn’t have the resources to move, need help to move.”

“So what you have is building after building facing assessments that they really can’t afford. They do not have the will, i.e. the 90% that can require a termination, and so they sit now in this ‘Never-Never Land’ in which they attempt to have some partial assessment, deferred assessment. Where is this going to go? I don’t know,” Eichner continued. “But for sure, there are hundreds of buildings that are in this situation as we wind our way out of year one of the post-assessment requirement. I suspect that this is going to be a real issue in 2025, 2026.”

In February, new leaders in the Florida legislature said their next sessions will include potential changes to condo laws, but will not involve talks around direct financial assistance for condo owners.

The three developers insist they’re here to help those concerned residents.

“I think that after all, developer or not, we’re all human being[s]. And if the stronger person can help the weaker person, or the smarter person can help the person with less knowledge or less experience, I think this is something that it’s good to see, and we should all help each other if we can,” Toledano said.

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“We don’t go in to try to take over buildings and don’t prefer a hostile environment. When we approach a building, we approach it and we move forward because everybody in the building wants to sell. And they don’t want the assessments, they don’t want the hiked-up maintenance fees,” Gutman chimed in. “That’s just our approach. We’re not fighters, we’re trying to help.”

“Part of the offer that we made was, to the extent that you are interested, we will help move you. To the extent that you’re not sure where you want to go, we will recommend some brokers to work with you,” Eichner said. “So it’s an attempt to have a more holistic, full-service approach rather than simply say: We’re offering you ‘x’ million dollars for your apartment, and that’s that, thank you, goodbye.”

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