Law Office of Ryan S. Shipp, PLLC

March 2017 Archives

Real estate brokers are coping with the information age well

Florida residents have likely seen or read news reports dealing with the impact that the internet has had on traditional business models. Companies like Amazon and eBay have been blamed for the declining fortunes of big-box retail chains, and Uber has completely revolutionized the taxi business in just a few years. However, despite the popularity of websites like Zillow, Trulia and Redfin, real estate brokers still earn commissions of between 5 and 6 percent.

CRE deal volume falls for the first time since 2009

Many investors in Florida and around the country invested money in commercial real estate in the wake of the 2008 financial crisis. It can take years to complete major commercial developments, and supply has struggled to keep up with demand in recent years. This has led to robust returns and widespread optimism among investors, but some experts believe that the current cycle may be reaching its peak.

Don't hand over the keys to your lender just yet

After the housing market burst, the word "foreclosure" seemed to be everywhere here in Florida. What exactly does that mean? The process actually started when you missed a few mortgage payments due to a financial hardship. When you purchased your home, your mortgage lender provided you with the funds to do so. As part of that process, your home "secured" the loan. This means that your lender could take your home if you can't pay your mortgage loan through the foreclosure process.

How technology impacts property management

As technology evolves, it has changed the way in which Florida residents and others conduct real estate business. With companies like ClickNotices and AppFolio, landlords can keep track of when rent is due or respond to maintenance requests. Property platform tools also help tenants make maintenance or other requests from their phones while allowing investors to track their returns in real-time. Property management tools also help investors or landlords organize their holdings by property type.

Commercial property lending will remain strong in 2017

Obtaining financing for commercial real estate developments in Florida and around the country will not be as challenging in 2017 as some financial experts have predicted according to data from the Mortgage Bankers Association. The trade group's quarterly survey that was issued earlier in 2017 predicts that commercial property loan originations in 2016 will fall just 1 percent short of 2015 figures despite a 7 percent year-over-year fourth-quarter decline.

Self-storage facilities springing up in Florida

Self-storage facilities are generally utilitarian and relatively uninspiring structures, but a Florida real estate development company is working to change their image. The company has submitted plans for a climate-controlled 101,533-square-foot facility in the city of Plantation that will feature a glass and brick facade. Storage facilities provide robust returns of between 8 and 10 percent, and they are springing up at the rate of about one per month in Broward, Palm Beach and Miami-Dade Counties.

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