New Florida law governs oversight, brings financial bite

A new law has transformed the condominium market in Florida, forcing owners to change their financial plans. The laws have been prompting many owners to sell their condos now, because the bills have come due and they cannot afford to pay them.  Read the article…………………………….

Bristol developer wooing residents of two aging waterfront buildings in West Palm Beach (FL)

Power developer Al Adelson is courting the aging Portofino waterfront condominium in West Palm Beach with a $150 million offer that some owners call a life-changing windfall and others an unwanted eviction.  Adelson, who built the ultra-luxury Bristol condominium on the city’s Intracoastal Waterway, has touted Portofino’s North Flagler Drive location because it also sits […]

Real estate Q&A: Can HOA stop us from smoking in our home? (FL)

Q: Our association adopted a rule banning all smoking anywhere on the premises, including inside individual units, except for a small, designated area outside. The rule was passed by a vote at our annual membership meeting and passed. We have owned our home here for 25 years, and no one ever complained about my wife’s […]

Could your condo be a takeover target? Know the signs that could attract a developer ((FL)

Condo takeovers increased in 2024 — a possible escape for owners who face mounting monthly fees and spiraling special assessments.  Condo buyouts or terminations need 80% of owners to agree to sell to a developer.  The Miami Herald spoke with three real estate experts who are at the forefront of these deals,    Read the article…………………………….

Important Insights from Florida’s Former Condominium Ombudsman

Today’s episode takes us further on that path as host Donna DiMaggio Berger sits down with Spencer Hennings, who brings firsthand knowledge as Florida’s former Condominium Ombudsman about the types of owner complaints he saw time and again while serving in that role. Appointed by Governor Ron DeSantis in 2020, Spencer served in this critical […]

Orange County leaders to decide fate of troubled condo complex (FL)

Commissioners in Orange County will meet Tuesday to discuss a troubled condo complex. The Tymber Skan on the Lake condos has been plagued by public safety concerns for over 20 years.  Officials said only eight of the 49 original buildings remain at the complex near South Texas Avenue, east of Lake Catherine.     Read the […]

Pines owners offer to sell to homeowners for $75 million

In a Jan. 27 letter to the Pines Trailer Park Homeowners Association (HOA), Pines Park Investors LLC offered to sell the mobile home park to the residents for $75 million.  At that price, each of the 86 mobile homeowners would be responsible for $872,093.02.  “This has got to be a joke,” said one Pines resident, […]

New Hurricane Protection Law Questioned (FL)

Q:  What is the penalty, if any, for a Florida condo association that refuses to adopt hurricane protection specifications? We have none and there is no interest in doing so. Seems to fall into “they won’t find out about us.”   Read the Q&A………………………………..

Quebec snowbirds fleeing Sunshine State in droves due to high costs, weak loonie

Many Quebec snowbirds living in Florida are listing their properties for sale, citing the high cost of living and a beneficial exchange rate due to the declining value of the Canadian dollar.  Jasmin Gosselin has been escaping Quebec’s freezing temperatures for over 20 years, seeking refuge in his Boynton Beach condo, nestled in the Sunshine […]

Temporary repairs complete at Sunrise condo after buildings deemed unsafe (FL)

Days after residents in a Sunrise neighborhood were forced out of their homes after the city deemed some buildings to be unsafe, they are now allowed to come back.  According to the city, the Grenadier Lakes at Welleby engineer said the units that were identified as unsafe to live in were temporarily strengthened and are […]

Florida Legislature Convenes For Special Session Called By Governor DeSantis

The Florida Legislature will convene a special session Monday at the behest of Governor Ron DeSantis, despite objections from legislative leaders. Senate President Ben Albritton and House Speaker Daniel Perez announced the session in a joint memo on Friday but offered no details on how lawmakers would address the Governor’s agenda.   Read the article…………………………….

Insurers are dropping HOAs, threatening the condo market

Insurance is getting harder to find and more expensive in much of the country. Just ask homeowners’ associations.  Mirroring trends in the single-family home market, insurers are boosting premiums or exiting the business of covering HOAs’ common property entirely, citing rising losses from extreme weather and aging buildings. The steep premium hikes usually end up […]

Condo inventory rising here amid new regulations (FL)

The number of condominium units for sale on the barrier island is rising faster than single-family home inventory as state condo regulations passed in 2022 and 2023 take effect.   Read the article…………………………….

Florida’s Condo Market Faces ‘Frightening’ Crisis

The Sunshine State’s condo market, which once offered residents affordable housing options, is on the verge of a crisis that could bring owners to their knees, according to experts.  A new law requiring regular inspection and costly maintenance for older condos has recently triggered an explosion of sales in South Florida, where owners are trying […]

‘Enough is enough’: Florida condo owners beg for reform from legislature

Since last summer, ABC Action News has covered what many say is a collapse in Florida’s condo market.  Tuesday, we heard from retiree George Prybys, 84, who told us the price of affording paradise is becoming nearly impossible for condo owners.  “It’s gone up ridiculously. My HOA went from $400 to $900,” he said.    […]

Opinion: Beneath the cracks of Florida’s Condo Crisis

In 2021, the collapse of the Champlain Towers South condominium in Surfside, Florida, shocked the world. Initially framed as an engineering failure, the tragedy exposed a deeper issue: decades of deferred maintenance and a systemic unwillingness to address aging infrastructure in Florida’s condo market.  This isn’t just about one building or one law. For years, […]

New report spells trouble for Florida condo market

A new report says many Florida condo owners could be pushed into financial ruin as HOA fees soar to cover insurance costs and mandated building upgrades.  The Florida Policy Project paints a dire future for older condos in the state that according to new state laws may require major updates.   Read the article…………………………….

Analyst Predicts Miami Area Condo Prices Will Drop Nearly 40% (FL)

Major real estate shifts are occurring in South Florida. South Florida Agent Magazine revealed that Miami area home sales slid year-over-year to close 2024, and real estate analyst Peter Zalewski told the South Florida Business Journal earlier this week that condo prices in eastern South Florida are expected to revert to pre-2020 levels. Zalewski suggests […]

Condo Laws: Panel of experts discuss new laws re: buildings and reserves (FL)

A panel of experts — including engineers, accountants and attorneys — gave the Regulated Industries Committee an update on how the laws requiring inspections and adequate reserves have affected the condo industry  Bradley said she wanted to help “smooth the transition” for condominium associations to come into compliance with the laws, which many residents say […]

Mayor Mike Norris: ‘Palm Coast is not an HOA.’ (FL)

Should Palm Coast continue to have a homeowners association philosophy? The city’s new mayor, Mike Norris, weighed in on that question Jan. 17 on WNZF News Radio’s Free For All Friday.   Read the article…………………………….

Waiting for condo repairs after hurricanes leaves residents frustrated (FL)

Attorneys for the condo association sent a letter to residents in October that said flood water infiltration is dangerous, so remediation needs to start immediately. They said flood damage is covered by FEMA, which handles the cost of remediation and reconstruction but not damage to personal property.  Antonello said more than three months later, she […]