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Close to 88% of condos on the South Florida market were built over 30 years ago, an ISGWorld analysis shows. Prices for these older condos have fallen substantially, with an average sales price of ...
A condominium or "condo" is a form of housing tenure and other real property where a specified part of a piece of real estate (usually of an apartment house) is individually owned. Use of land access to common facilities in the piece such as hallways, heating system, elevators, and exterior areas are executed under legal rights associated with ...
Karen Shipman and her husband bought a second-story condo overlooking the Gulf of Mexico in Venice, Florida when they retired in 2021, with the hopes it would be their last home.
Under legislation passed by the Florida state Legislature following the Champlain Towers collapse, condo buildings over three stories and older than 30 years must pass a structural inspection by ...
Since then, the term ‘condominium’, or ‘condo’ for short, has become a household word in the U.S. [48] Many Americans' first widespread awareness of condominium life came not from its largest cities but from South Florida, where developers had imported the condominium concept from Puerto Rico and used it to sell thousands of inexpensive ...
The Florida Legislature passed condo reform legislation in a May 2022 special session as Senate Bill 4-D, addressing issues highlighted in the aftermath of the Surfside collapse. [206] It was modeled on the 40 year recertification [207] scheme. [208] The bill creates a state-wide inspection program for condo buildings taller than three stories.
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