
Florida Office of Insurance Regulation to establish temporary reinsurance arrangement to prevent crisis
"We are set up to expand when the market experiences challenging time," said said Michael Peltier with Citizens.
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"We are set up to expand when the market experiences challenging time," said said Michael Peltier with Citizens.
But sales of previously occupied homes have slowed sharply amid higher mortgage rates and rising prices.
If it costs more than $700,000 to replace your Broward home or $1 million for Miami-Dade, you can't get coverage.
Pointing to "almost incomprehensible growth," the president and CEO of Citizens Property Insurance Corp. said Wednesday the state-backed insurer could have 1.2 million customers by the end of the year.
Tampa and Miami topped other metro areas across the country in a new analysis of housing price increases.
Price of a previously occupied house hits new heights even as would-be buyers struggle with high prices and mortgage rates.
The latest figures showed that home prices surged over 20% since March of last year.
After nearly three years of Phoenix leading the nation in the most-rapid growth in housing prices, it has been topped by the Tampa area, an analysis released Tuesday showed.
The inventory of available houses has shrunk and that has made it difficult for buyers in South Florida.
With real estate inventory shrinking, prices have skyrocketed across South Florida
Known for its dramatic curving exoskeleton, 1000 Museum, located on 1000 Biscayne Boulevard in Downtown Miami, was designed by the late architect Zaha Hadid.
The study found the average rental price in the area that includes Miami and Fort Lauderdale is $2,832 but should be closer to $2,326.
New rules rolled out earlier this year by mortgage giants Fannie Mae and Freddie Mac are creating a bottleneck in the real estate market for those seeking to buy or sell condos or co-op apartments, according to agents and condo associations.
The Miami area saw a 28.1% year-over-year gain in home prices, while the Tampa metropolitan area had a 30.8% increase.
As if home prices weren't already out of reach, they continued to surge higher in January.
The U.S. real estate market was already tough for prospective buyers, who have faced double-digit price increases and cutthroat competition for listed properties. Now they are facing another challenge as rising mortgage rates add to the affordability squeeze.
According to Zillow, the number of listings dropped 42.4% from January 2020 to January 2022. Because of that, prices are soaring. Home values increased 19.9% from January 2021 to January 2022.
It's the ultimate in old world opulence, a four-acre compound in Coconut Grove owned by renowned business leader and philanthropist Adrienne Arsht. It's the highest priced home ever in Miami and proceeds of the sale are going to charity.
For many, the astronomical rent increases are impossible to keep up with. From December 2020 to December 2021, rent prices in Miami rose 49%.
What goes up, keeps going up. Rents continue to rise across the country and in South Florida and it's forcing tenants to make difficult choices.
Miami was one of three US cities to see the highest rise in home prices, 18.8% in 2021, according to the S&P CoreLogic Case-Shiller US National Home Price Index.
If you've forgotten what a "for sale" sign looks like, you're not alone. There are fewer and fewer around Miami
The cost of buying a home rose by double-digit percentages across most of the US in the last quarter of 2021, and a Florida city tops the list of biggest jump in home prices.
If you've been waiting to buy a house, but the prices have just been way too high, you may be in luck. The red-hot housing market might finally be starting to cool, just not in Miami yet.
From July through September, investors bought Tampa Bay homes at a record rate, according to data analyzed by Redfin that begins measuring in 2000.
Since the Monkeypox outbreak was detected in Florida, Broward County led the case count in the State.
Hialeah police detectives are investigating a shooting in which a child was grazed by a bullet at the child's home.
Firefighters from the City of Miami put out an apartment fire on Saturday afternoon, that will likely displace several families.
The US Coast Guard intercepted a large vessel carrying dozens of migrants Saturday off Key Largo.
A fire set off by a lightning strike at an oil storage facility raged uncontrolled Saturday in the city of Matanzas, where four explosions and flames injured nearly 80 people and left at least 17 firefighters missing, Cuban authorities said.
But the president "will continue his strict isolation measures pending a second negative test," White House physician Dr. Kevin O'Connor said.
Many parents and teachers have been taking advantage of the state's sales tax holiday for school supplies which ends Sunday.
A search warrant at a Key Largo residence yielded more than four pounds of marijuana, guns, other drugs and resulted in the arrests of two men.
CDC survey found one in five high school students reported being bullied on school property
Since the Monkeypox outbreak was detected in Florida, Broward County led the case count in the State.
Hialeah police detectives are investigating a shooting in which a child was grazed by a bullet at the child's home.
Firefighters from the City of Miami put out an apartment fire on Saturday afternoon, that will likely displace several families.
The US Coast Guard intercepted a large vessel carrying dozens of migrants Saturday off Key Largo.
A fire set off by a lightning strike at an oil storage facility raged uncontrolled Saturday in the city of Matanzas, where four explosions and flames injured nearly 80 people and left at least 17 firefighters missing, Cuban authorities said.
About six hours after he was suspended Thursday by Gov. Ron DeSantis, Andrew Warren insisted he was still Hillsborough County's top prosecutor — and that the governor was trying to "overthrow" democracy.
A Florida woman who was acquitted of murdering her husband, a prominent official at the University of Central Florida, was sentenced Friday to a year of probation for tampering with evidence.
Florida likely will see lower-than-expected revenues from a landmark settlement with the tobacco industry because fewer people are smoking or smokers are cutting back.
Members of the Florida medical boards are considering restrictions on "Brazilian butt lifts."
Vice President Kamala Harris and other federal officials will travel Monday to Miami to discuss issues related to climate change, the White House said Friday.
But the president "will continue his strict isolation measures pending a second negative test," White House physician Dr. Kevin O'Connor said.
Indiana is the first state in the nation to pass such legislation since the Supreme Court overturned Roe v. Wade.
Three candidates are in the race: Aramis Ayala, Jim Lewis, and Daniel Uhlfelder
Florida law that restricts instruction on gender identity and sexual orientation in public schools
A trial that could determine whether former Tallahassee Mayor Andrew Gillum is convicted of federal wire fraud and conspiracy charges has been delayed until April, according to an order issued by a federal judge on Thursday.
Formula availability is not back to normal, but for many families, it's better than it was even a month ago.
In Miami on Monday, the average was $4.03 a gallon and Fort Lauderdale's average was $4.04
Laura Hernandez says this all started when she received a text message from scammers.
John Alger, of Alger Farms, said it's been a struggle to break even for the last 10 years
Gas prices dropped an average of 17 cents per gallon last week
With monkeypox cases rising across the U.S., Florida International University's Dr. Aileen Marty says "this is not a disease you want to get." She added that stopping the spread is critical.
Royal Caribbean announced Thursday that starting with August 8 departures, "we will revise our testing requirement for most U.S. sailings."
The declaration could help the federal government respond as the number of cases grows and demand for the vaccine far exceeds supply around the country.
"Just the number spike alone is making me more anxious," Jaime Lyn-Kee-Chow said.
The updated recommendations are expected to ease quarantine recommendations for people exposed to the virus.
CBS4's Neighbors 4 Neighbors and a viewer are stepping up to help a family for the holiday after a blaze ripped through their apartment.
Time is running out for you to open your heart and help a family in need this holiday season. Only 16 families left before Monday's deadline for the Neighbors 4 Neighbors Adopt A Family for the Holidays program.
A South Florida family who lost everything when a fire destroyed their Miami home, is thankful for the generous support of the South Florida community in an effort to get them back on their feet.
Just days before Thanksgiving, Zoila Monzon and her children lost everything when a fire destroyed their Miami apartment.
State Senator Annette Taddeo is running against Miami City Commissioner Ken Russell.
Jim DeFede focuses on the upcoming Democratic primary for U.S. Congress District 27
Jim DeFede went one on one with Democratic State Senator Lauren Book
Jim DeFede went one on one with Jared Moskowitz
Jim DeFede went one-on-one with State Senate Candidate Janelle Perez
"His voice will always be heard and etched in all of our minds forever," Dodgers president and CEO Stan Kasten said in a statement.
Celebrities we've lost this year.
Award-winning Chef Giorgio Rapicavoli's motto is clear "Good pasta, Good people"
"Having kids involved in this is wrong," said Gov.DeSantis
Rolling Loud Miami 2023 will officially return to Hard Rock Stadium from July 21 to July 23.