According to a recent survey conducted by ClosingCorp, over half of all homebuyers are surprised by the closing costs required to obtain their mortgage. After surveying 1,000 first-time and repeat homebuyers, the results revealed that 17% of homebuyers were surprised that closing costs were required at all, while another 35% were stunned by how much higher the fees were than expected.   “Homebuyers reported being most surprised by mortgage insurance, followed by bank fees... [read more]

  K Hovnanian Homes wants to rezone part of its residential development site in Royal Palm Beach for commercial project and sell it to a local firm. The village’s Local Planning Agency will hold a meeting on April 25 to consider a comprehensive plan amendment and rezoning for the mixed-use project at 11925 Southern Blvd. It’s called Cypress Key. Hovnanian (Nasdaq: HOV) is currently building 147 townhouses on part of the 35.2-acre site. It would sell the commercial... [read more]

Developer 13th Floor Homes has launched sales and construction of its third single-family home community in Tamarac. The homebuilding arm of Miami-based 13th Floor Investments previously launched Central Parc and Manor Parc in the city. Now it’s getting started on Hidden Trails, which will be southeast of Florida’s Turnpike near Commercial Boulevard. The official address is 4893 N.W. 55th Place. The 214 homes will range from 1,580 to 2,086 square feet. They are priced from... [read more]

Amazon’s Alexa will soon be arriving at Lennar’s homes. Miami-based Lennar Corp. just announced it will be adding smart homes to its new home offerings. The nation’s second biggest homebuilder said it will be partnering with Amazon to bring Alexa, Amazon’s smart personal assistant, into its homes’ designs, according to a release. The designs will be powered by Ruckus Wireless, a part of Brocade Communications Systems, to provide coverage throughout its... [read more]

  Miami-based Lennar Corp., one of the country’s largest homebuilders, on Tuesday reported lower fiscal second quarter earnings that still exceeded analyst expectations. Earnings including noncontrolling interests fell to $200.7 million, or 91 cents a share, from $224 million, or $1.01 a share, in the second period of 2016. Still, the average estimate among eight analysts surveyed by Zacks Investment Research was for Lennar earnings to reach 78 cents a share. Revenue rose... [read more]