2025

Miami’s historic Prescott Estates purchased for $20M, sale ushers in exclusive 5-home development

Prescott Estates, a landmark waterfront development site in Miami’s historic Bayside District, has been acquired for $20 million and will be ushering in one of South Florida’s most exclusive new luxury communities. The project will bring just five individually designed waterfront estates to market, including the historic Prescott Mansion, which will be restored and reimagined as the centerpiece of...

First look: Interiors revealed for Midtown Park tower anchoring Miami’s $2B master-planned community

Miami’s skyline is set to gain another landmark. Rosso Development, Midtown Development, and Proper Hospitality have unveiled the first look at the interiors of Midtown Park Residences by Proper, a 28-story luxury tower designed by acclaimed New York–based firm Meyer Davis Studio. The project marks the first residential building within the $2 billion Midtown Park master plan, a transformative...

Government Shutdown Threatens to Snarl the U.S. Housing Market, Cloud Fed Policy

A government shutdown may start as a political standoff in Washington, but its reach quickly extends to Main Street--and nowhere is that more visible than in housing. Selma Hepp Economists warn that while brief shutdowns often leave only a faint mark on the economy, extended closures can ripple through the real estate sector by delaying home loans, disrupting insurance coverage, and spooking would-be...

Fannie and Freddie waive some loan requirements amid shutdown

Government agencies and enterprises issued guidance on Wednesday for mortgage lenders and servicers during the current government shutdown, which affects federal employees, services, contractors, vendors and other businesses. Fannie Mae and Freddie Mac are waiving some requirements for lenders due to the potential inability to confirm income, reserves, tax, and Social Security information from...

FICO bypasses credit bureaus with new program for mortgage lenders

Fair Isaac Corp. (FICO) has launched a program allowing tri-merge resellers to calculate and distribute its scores directly to mortgage companies, effectively bypassing the three nationwide credit bureaus: Equifax, TransUnion and Experian. The move comes amid intensified competition with VantageScore, owned by the three bureaus, following the Federal Housing Finance Agency’s (FHFA) decision to let...

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