condo associations

Condo sales keep falling while home prices hold steady. Look up how condo sales have been in your zip code.

Legislation passed after a 2021 deadly building collapse aimed to improve the safety of condominiums in Florida. But the increased inspections, studies, and changes to funding reserves have left people grappling with higher fees.

High priced South Florida homes and condos are finding buyers while older and lower priced condos struggle across the region.

It’s been almost two months since older condominium buildings in Florida had to be inspected. It was one of the requirements put in place after the Champlain Towers South collapse in Surfside killed 98 people. Most have not submitted their results.

Legislation passed in the wake of the deadly 2021 Surfside condo collapse and rising insurance premiums have resulted in huge increases in HOA fees and special assessments for condo owners across the state.

As owners across South Florida feel the squeeze with the looming Dec. 31 deadline for reserves, a young Palm Beach County firefighter says he faces a tough decision: to stay in his unit or or sell it after monthly condo assessment fees skyrocket.

At the 2024 Condo Summit in Broward, experts and state senators from both parties gathered to tackle rising costs — but warned there is no silver bullet. Senate Democratic Leader Jason Pizzo said that owners, including those of the collapsed Surfside building, could shoulder some of the blame for the state of affairs.

It is a tale of two housing markets in South Florida. Condo prices are falling while single family home prices hold steady.

New rules for condo associations in Florida are likely taking their toll on sales statewide as median prices fall.

South Florida condo owners already spend a lot on monthly fees but very little of the money goes into reserves. More money will have to be funneled into savings beginning next year.

Arrested was Gregori Arzoumanov, 62, the president of the Turnberry on the Green Condominiums near the Aventura Mall, Fernandez Rundle told reporters at a press conference. Arzoumanov is alleged to have embezzled $1.5 million over a seven-year period.

Lopez said there isn’t enough data to have a special session on condos before the end of 2024.