Daily Market Update: Mayweather drops price of Florida penthouse

by MPA06 May 2015
Mayweather drops price of Florida penthouse
Boxing champion Floyd Mayweather’s luxury Florida penthouse has been on the market for over a year without success and he has now dropped the asking price sharply. The Miami home was originally listed last year for $2.599 million but is now listed not far off the $1.5 million he paid for it five years ago. The four bedroom, five bathroom home at Miami’s Saint Tropez condos has stunning panoramic views of the ocean. To put the price reduction in context, it is just 1 per cent of the cash Mayweather picked up at the weekend for beating Manny Pacquiao in Vegas !
Want to challenge a property tax bill? Be prepared say appraisers
As homeowners receive their latest property tax bills some may decide to challenge what they are being charged. The key to success is to be prepared and have all the relevant information including what the local rules are. That’s the advice from the Appraisal Institute which says that homeowners should be aware that there are many factors involved in determining their bill and that can include improvements that have been made to their property. The institute’s president M. Lance Coyle says owners need to know that there is no universal set of rules: “There can be a big difference in property taxes from county to county and state to state. Regardless of where one lives, it’s important to know how property taxes are calculated locally and to follow all related legal requirements.” He says that using a qualified and affiliated appraiser can make the appeal process a lot easier.
Single-family home prices hit record high in Denver
The average price of a single-family home in metro Denver increased in April to $402,302. That’s an 11 per cent increase from a year ago and 3 per cent higher than March this year. It’s also the first time average prices have broken the $400k mark. Chris Mygatt, president and chief operating officer of Coldwell Banker Residential Brokerage in Colorado told the Denver Post that a quarter of homes are selling above $500,000. Across all home types the median is now $314,000 and sales volume was up 7 per cent in April compared to March. 


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