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Carlos Alvarez, then-mayor of Miami-Dade County in this 2011 file photo, raised property taxes during his last year in office. Declining real estate values meant the county collected less property-tax revenue that year. His successor, Carlos Gimenez, is proposing a slight dip in property-tax rates this year, but property-tax revenues should hit a new record...
Key Takeaways The share of first-time buyers purchasing homes in June 2016 was the highest recorded since July 2012: 33 percent. Total existing-home sales were up 1.1 percent in June, to a seasonally adjusted annual rate (SAAR) of 5.57 million. There’s finally some good news on the first-time homebuyer front: The share of first-time buyers purchasing homes in...
Japan-based pharmaceutical company Santen announced plans to acquire Innfocus, an ophthalmology company developed within University of Miami’s Bascom Palmer Eye Institute. Santen will purchase Miami’s Innfocus for an upfront payment of $225 million, plus performance-based consideration upon achievement of milestones. The transaction is pending approval. It...
The value of the US dollar has advanced to its highest levels in six weeks, signaling a boost in the economy compared to slow growth elsewhere in the global sphere. Bloomberg’s dollar index rallied 0.5% this afternoon, the highest it’s reached since June 12. The improvement has also sparked chances for a rate hike this year, Bloomberg reports. Investors...
Last fall, Federal Realty Investment Trust and its two local partners, Grass River Property and the Comras Company, announced they bought the majority interest in the Shops at Sunset Place for $110 million. The goal is to revamp the aging outdoor mall, which serves as an anchor for downtown South Miami. New tenants so far include outdoor furniture store...
Florida’s housing market reported higher median prices and fewer days to contract in June as the market sees pent-up demand and paucity of inventory. Closed sales of single-family homes statewide totaled 27,086 last month – slightly higher (0.4%) than the June 2015 level of 26,973 closed sales. More from Builder and the Sarasota Herald-Tribune. Please...
