Florida, USA - Florida Real Estate News July 2018 Compiled by Fast Florida House Sales

The news this month includes more arrests in an alleged property rent-scam in Lake Worth, how foreign investors are pouring money into Florida and buying commercial property, how more private schools are required in South Florida to boost the real estate market and more. Brought to you by Fast Florida House Sales – we buy any house, in any condition, in any location in Florida.

Rent-scam probe now targets son of Lake Worth real-estate agent

The son of a Lake Worth man arrested this month in an alleged rent-fraud scam is wanted for acting as an accomplice in the crime, the Palm Beach County Sheriff’s Office said Wednesday. Reports Julius Whigham II for Palm Beach Post.

Sheriff’s investigators are searching for Andrew Arce, who is believed to have fled the United States. They also are searching for a third man also suspected of having been involved in the scam. Authorities have not released his name.

Deputies arrested Arce’s father, 43-year-old real-estate agent Steven Arce, on June 6 after at least five people alleged that he scammed them out of rent money. The financial loss to the alleged victims was estimated at more than $11,000, the sheriff’s office said.

According to an arrest report for Steven Arce, Andrew Arce told investigators this month he is a licensed Realtor who was helping his father with a deal.

One woman told investigators in May that she paid a $1,500 deposit to a man named “Abraham” for a residence in Lake Worth. After she paid, the woman was unable to gain access to the residence and the telephone numbers by “Abraham” were disconnected.

Authorities believe that “Abraham” was actually Steven Arce.

Anyone with information about the case is asked to call the sheriff’s office at 561-202-9652, or Crime Stoppers of Palm Beach County at 800-458-TIPS (8477).

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Foreign Investment in U.S. Commercial Real Estate Remains Strong

Florida was the top state where outside investors purchased and sold commercial property last year; California was third

Florida and Texas were the top two states where foreigners purchased and sold commercial property last year, with California being the third most popular buyer and seller destination.

Over 60 percent of buyer-side sales were transactions with foreign buyers who primarily reside abroad. Most seller-side transactions (57 percent) were of properties sold by clients who were temporarily residing in the U.S. on non-immigrant visas.

The top countries of origin for buyers were China (20 percent), Mexico (11 percent), Canada (8 percent) and the United Kingdom (6 percent). While sellers were typically from Mexico (20 percent), China (15 percent), and Brazil and Israel (both at 10 percent).

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