September 2021 - Rava Realty

New transportation infrastructure in South Florida

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New transportation infrastructure in South Florida

According to Bloomberg, Elon Musk’s The Boring Company emerged victorious in a bid to build an underground transportation system in Fort Lauderdale.

The system will be known as Las Olas Loop, and consist of two tunnels running 2.5 miles from downtown Fort Lauderdale to the beach.

Passengers of the transit system would be driven in dedicated Tesla cars (private cars won’t be allowed). Construction is estimated to take one year once the city gives the final green light.

Miami, which is said to be seeking a similar system, is now finishing pre-development and preparing an agreement ...

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Newcomers drive the rent hikes in South Florida

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Newcomers drive the rent hikes in South Florida

Interest in relocating to Miami has tripled since last year and now ranks higher than any other destination in the U.S., according to a new report from real estate website Redfin.com, based on a sample of about 2 million users who searched for homes across 112 metro areas.

It is the first time ever that Miami topped Redfin’s monthly rankings, which measures net inflow from other metro areas. However, Miami has been consistently in the top 10 since the list was created in 2017.

An Interest confirmed by the huge increase ...

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Thanksgiving Day Parade Returns To NYC’s Streets For 2021

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Thanksgiving Day Parade Returns To NYC’s Streets For 2021

The Thanksgiving Day Parade will march through the streets of New York City once again this year in yet another sign of a slow return to normality amid the COVID-19 pandemic.

“We are thrilled to welcome back in its full form the Macy’s Thanksgiving Day Parade, a world-renowned celebration that ushers in the magic of being in New York City during the holiday season,” said Mayor Bill de Blasio.

Public viewing will be allowed only in specific locations which will have safety procedures in place, like social distancing, face covering, and a ...

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If Bill bets on hospitality, we can too

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If Bill bets on hospitality, we can too

Bill Gates’ Cascade Investment is taking a swing in the hotel industry, paying more than $2 billion to take control of Four Seasons Hotels & Resorts.

The purchase will give Cascade a 71.3% stake and operating control of Four Seasons.

Gates is taking a risk in a hotel market that has been struggling throughout the pandemic, despite showing some signs of life more recently.

Four Seasons, founded in 1960, has more than 100 hotels and resorts around the world and went public in 1997 when Cascade first invested in the business.

(source: therealdeal.com image: ...

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A third of U.S. home sales comes from Cash Buyers

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A third of U.S. home sales comes from Cash Buyers

More and more homebuyers and investors are coming to the negotiating table and closing deals with cash in hand.

A third of all U.S. single-family homes and condominiums sold in the second quarter were purchased with cash, up from 20.6% a year prior, the highest percentage since the first quarter of 2015.

In New York the figure is 52%, but some metro areas saw even higher percentages. The highest was on the Rust Belt due to the late 20th-century loss of manufacturing jobs. In fact, in Buffalo and Detroit, the cash sales were 71% and 68%, respectively.

In general, bargain-hunting and single-family rental investors ...

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New development sales contracts jump 109% in New York

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New development sales contracts jump 109% in New York

Some 421 contracts were signed across the city in August, up 109% from a year ago and 88% more than August 2019, according to a monthly analysis of new development sales contracts by Marketproof, a real estate analytics company.

Notably, the new development condominium market grew last month while the resale market had a month-over-month decline. Although 533 resale contracts were signed, which outnumbered August’s new developments condo contracts, that marked a –7% decline compared with July for the resale market. For new development condos, August’s activity was up 16% from July’s.

(source: therealdeal.com image: 130william.com)

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