Multimillion-Dollar Home Buyers Were Busy Last Month in a Few Key Cities
High-end dealmaking increased in places like Naples, Florida, Miami and Los Angeles even as overall new signed contracts sunk compared to a year ago. Read More
BY THE NUMBERS
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New Cyber Rule From SEC: 3 Ways to Improve Cybersecurity
The SEC has finalized a new rule for public companies requiring certain disclosure of cybersecurity incidents, annual reporting of cybersecurity risk management, strategy and governance, and an opportunity to refresh cyber incident management processes and posture.
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TRENDING TODAY
LISTING OF THE DAY
West Palm Beach, Florida, Condo Comes With Dockage for a 100-Foot Yacht
The recently renovated and boldly colored unit has a large terrace directly overlooking the Intracoastal Waterway and Palm Beach Island. Read More
TAX TALK
What Happened With the Property Tax Proposal in Tampa, Florida?
The city’s first hike in more than 30 years was just nixed. This is what the plan, blocked by the City Council, would have done. Read More
NEWS BITES
U.K. Prices Tumble as Interest Rates Remain Elevated
Higher interest rates have resulted in U.K. home prices falling at their fastest pace since 2009, according to a report from mortgage lender Halifax. The average price of a home fell 4.6% in August compared to a year earlier, when they were just shy of their pandemic-fueled peak. That’s up from the 2.5% annual decline registered in July. Capital Economics predicts house prices will drop a total of 10.5% by mid-2024. “High mortgage rates will mean demand remains very weak while previously tight supply of second-hand homes on the market is easing,” Imogen Pattison, assistant economist at Capital Economics, said. Reuters
Five of the Most Overvalued Residential Markets Are in Florida
Atlanta has the most overpriced homes in the U.S., according to a recent study by Florida Atlantic University. The Georgia city registered the biggest difference between the average listing price ($357,677) and the expected home value ($236,627): 51.16%. Cape Coral, Florida, was second (49.67%), followed by Charlotte, North Carolina (47.76%), Memphis, Tennessee (46.18%), and Lakeland, Florida (45.16%), the data showed. The ranking had five Florida destinations in the top 10, and the pandemic hot spot of Nashville took the No. 10 position with a 45% difference. Yahoo! Finance
Texas Is the Third Most Popular State for International Buyers
Texas is the third most popular U.S. destination for international buyers, according to a recent Texas International Homebuyers Report. Close to 12% of purchases in the Lone Star state between April 2022 to March 2023 were made non-native buyers, the data showed. During that time, they spent $4.3 billion on Texas properties, and 49% of buyers paid cash. In total, 84,600 international buyers bought property in the U.S. between April 2022 and March 2023, down from 98,600 buyers in last year’s report. Florida saw the largest percentage of purchases by international buyers, 23%, followed by California, with 12.2%. culturemap Houston
MasterChef Australia Winner Buys Sydney Home for A$5.26 Million
The winner of the second season of MasterChef Australia, Adam Liaw, and his wife, Asami Fujitsuka, recently plunked down A$5.26 million (US$3.6 million) on a 1908 Victorian home on Sydney’s north shore. Located in the city’s Roseville neighborhood, the more than 14,500-square-foot home combines traditional and modern elements—and, of course, has a gourmet kitchen with a Caesarstone cabinetry, wine storage and Miele appliances. It had an auction guide of A$4.9 million. realestate.com.au
AROUND NEWS CORP
His Friend Wagered He Couldn’t Flip This $42.5 Million Megamansion. He’s All In. [The Wall Street Journal]
What You Get for £800,000 in Cornwall, Lancashire, Wiltshire and France [The Times of London]
Heavenly Home: Former Gothic Church on Lake Michigan’s North Shore Is Listed for $1.4 Million [New York Post]
Amp up the Curb Appeal: The Do’s and Don’ts of Landscaping Around Barndominiums [Realtor.com]
