Among major metro areas, first-time homebuyers hold the biggest advantage over investors in Denver, where strict rules on short-term rentals limit the upside for speculative buyers, according to a new analysis. Nationally, first-time buyers accounted for about 69% of all starter-home purchases last year, while investors snapped up 31% of the properties, the analysis from … Read more
Developer Edgardo Defortuna and brokerage head Craig Studnicky said the foreign buyers they work with have not been deterred by the Trump administration’s crackdown on immigration. “They already have their visa, their status or they already own property here, and they’re trying to [purchase] something better, bigger,” Defortuna, CEO of Miami-based Fortune International Group, said … Read more
Hotel investor Brian Ehrlich and spec home developer Fred Karlton are now looking to add “Miami Beach city commissioner” to their resumes. Ehrlich, co-founder of Miami Beach-based Paradigm Hotels, is vying against five other candidates for the open seat created by city commissioner Kristen Rosen Gonzalez’s decision to run for Miami Beach mayor. Among the … Read more