NAR Chief Economist Yun says “increased housing inventory and better interest rates are essential” for a real estate market rebound.WASHINGTON – Pending home sales slid 7.1% in
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In Collier, Lee and Charlotte counties, a single month of construction permits in 2023 can surpass the number they once saw in just one year.FORT MYERS, Florida – Looking for a job? Well
Barring a change, national flood insurance expires midnight Saturday along with other federal functions. NAR posted a Q&A on what that means for transactions.WASHINGTON – On Sept.,
Last week, a 30-year, fixed-rate loan averaged 7.19%; a year ago, it was 6.70%. The last time rates were this high was in 2000 when home values weren’t going up.Home loan borrowing costs
Study: Florida leaped past New York to be No. 2 in housing values, trailing only California. South Florida (No. 5) and Tampa (No. 18) made the “top 20 most valuable metros” list.
The index that tracks Fannie Mae/Freddie Mac sales found a 0.8% month-to-month increase in July as housing prices continue to rise despite higher mortgage rates.WASHINGTON – U.S. house prices
HB 919 contains new rules that impact homeowners associations to boost transparency. SB 170 gives businesses new rights if a local ordinance impacts them.TALLAHASSEE, Florida – New Florida
The nation’s consumer bureau took a first step to erase medical debt from credit reports and lending decisions because that type of debt “has little predictive value.”WASHINGTON
“Homebuyers waiting for mortgage rates to come down should expect no major relief until next year,” says Lisa Sturtevant, chief economist for Bright MLS.LOS ANGELES (AP) – The
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It’s the second no-interest-rate-change decision over the past three meetings. Inflation is still above 2%, however, and the Fed says a future increase is still likely.WASHINGTON (AP)
No two shutdowns are the same, but the feds would be less responsive. Some Real Estate products – FHA, VA and Rural Housing loans, flood insurance – may see an immediate impact
Some cities expect commercial buildings to reduce emissions or pay a tax, but both options create extra stress on plandemic-harmed structures, such as office buildings.NEW YORK – Cities are
To secure a home, some U.S. buyers still agree to make up the difference when a mortgage appraisal comes in at less than the contract price – an often risky move.NEW YORK – Some buyers
Today in Supreme Court History: September 17, 1787 The Constitution is signed.From Wikipedia, the free encyclopedia:Constitution Day (or Citizenship Day), is an American federal
The 30-year, fixed-rate mortgage rose from last week’s 7.12%, in part due to fears of another Fed interest rate increase, but that appeared less likely on Thursday.LOS ANGELES – The
Demand is so strong that high mortgage rates haven’t lowered home prices. And while “waiting for a lower rate” sounds good, it could make buyer demand even stronger.MIAMI
Welcome to our custom Naples Area, Marco Island & Lee County Luxury Home Market Report Blog for September 2023; your up to date guide to Luxury Real Estate market data and trends for Southwest
Independent businesses aren’t quite as optimistic about the next six months, and many hope to maximize profits now to prepare for any possible downturn.WASHINGTON – The National
If Congress passes an extension, transactions can proceed. If not, homebuyers who need mortgage-mandated flood coverage should plan ahead to avoid problems.WASHINGTON – National Flood
However, the 30-year fixed-rate mortgage remains near the 22-year high it hit three weeks ago. Last week, it was 7.18%.LOS ANGELES (AP) – The average long-term U.S. mortgage rate fell
An initial growth estimate of 2.4% was downgraded, though it’s still an acceleration from the 2% growth rate logged in the first quarter.WASHINGTON – The U.S. economy expanded at a 2.1%
Feeling more optimistic about their personal finances, Floridians’ consumer sentiment inched up eight-tenths of a point in August to 67.6 from July’s revised 66.8.GAINESVILLE, Florida
It’s too early to know. Nine out of 10 people will file a claim within the first 30 days, experts say, which is reported to the Florida Office of Insurance Regulation.TAMPA, Florida
ATTOM: In second quarter 2023, 49% of U.S. mortgaged residential properties were considered equity-rich – the highest point in at least four years.CHARLOTTE, N.C. – ATTOM has
On August 22nd, 2023, the People of Collier County, Southwest Florida, via our County Commissioners made history by passing the “Bill of Rights Sanctuary County Ordinance.”Commissioner
Florida, "The Sunshine State" has more beach area than any other state. And each of the 12 coasts of Florida has it’s own designation. Florida Fun Travel compiled a dozen different
President Biden declared seven Florida counties disaster areas, but Governor DeSantis thinks more will be added. A declaration opens up additional aid, including more fed funding.TALLAHASSEE,
Zillow removed information after a fake "Zillow Listing" was discovered; aparently President Trumps Florida home was listed on Zillow at $422M ($24M value) for its 6,000 square feet (actually 62,500
After hitting a 20-year high last week of 7.23%, the average rate on a 30-year, fixed-rate mortgage moved lower again. A year ago, the FRM averaged 5.66%.The average long-term U.S. mortgage
China seems to be on the verge of an economic crisis similar to the U.S.’s 2008 recession – but it’s less likely it will have a spillover effect impacting other nations.HONOLULU,
Forecast UpdateTuesday 08/29/2023 - As of 8:00PM EDT, the National Hurricane Center has Hurricane Idalia located approximately 155 miles WSW of Tampa, Florida. Hurricane Idalia strengthened to a
The Collier County Board of County Commissioners declared a Local State of Emergency in Collier County due to Tropical Storm Idalia. Currently, there are no evacuation,
Many older homeowners don’t want to move even if homeownership has become challenging. But they have options that might not be as bad as they fear.NEW YORK – The search for the
Increases may continue. “Ongoing economic strength will likely continue to keep upward pressure on rates in the short-term,” says Freddie Mac’s chief economist.LOS ANGELES
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Home sales dropped 22.3% year-to-year but prices don’t seem to care. Year-to-year prices fell a bit in Feb. and 3% in May, but they started to rise again in July (up 1.9%).LOS ANGELES
Florida Realtors: Higher mortgage rates still a factor; single-family home median price at $415K, 2.8 months’ supply. Condo median price at $319K, 3.6 months’ supply.ORLANDO,
The state-owned insurer requested a maximum 12% hike for most residential policies and must go lower. But a condo association hike was approved at 9.2%.TALLAHASSEE, Florida – Regulators have
Some discouraged buyers should stop looking for their “forever home” and start looking for their “get my foot in the door to start building equity” home.The average rate on
A 30-year, fixed-rate loan averaged 7.09% this week, its highest level since it was 7.13% in April 2002. It also exceeds a high of 7.08% hit last fall.WASHINGTON – The average long-term.
Texas had 3 cities in the top 10, but Jacksonville hit No. 9 with its “bounty of BBQ restaurants.” It beat out Tampa (No. 15), Orlando (No. 17) and Miami (No. 47).TAMPA, Fla. ;
“Livability” is subjective, but an exhaustive study attempted to rank states based on how happy they’ll make residents. Florida was No. 6 – but No. 1 in some categories
Welcome to our custom Naples Area, Marco Island & Lee County Luxury Home Market Report Blog for August 2023; your up to date guide to Luxury Real Estate market data and trends for Southwest
While $1M signified luxury property a short while ago, it’s now 8% of the nation’s housing stock – but a large percentage of those homes are still in Pacific Coast states.SEATTLE
The index that tracks more than half of all U.S. mortgages found continued price stabilization. Month-to-month prices rose only 0.7%.WASHINGTON – U.S. house prices rose in May, up 0.7%
The average rate on a 30-year, fixed-rate mortgage rose for the third week in a row, up from last week’s average 6.90%. A year ago, it was 5.22%.WASHINGTON (AP) – The average
Mortgages revolve around a 20% down payment, and buyers who put less down use mortgage insurance to do so – yet many don’t understand what that means.KEY BISCAYNE, Florida. –
Most money-saving tips have a secondary side effect, such as increasing out-of-pocket costs after a disaster or no coverage at all for something you may need.MIAMI – Living in a Barbie’s
CRYPTOCURRENCY: THE PAST VS. THE FUTURE, by Nicholas Ragone, WHITE CUBE FINANCE 08/07/2023.Over the past two decades, cryptocurrency has emerged as a revolutionary force that is changing not
In 2Q 2023, Florida remained a top go-to state, with the lion’s share relocating from New York, but Chicago provided more buyers for Cape Coral, No. 7 on the list.SEATTLE – A record one
Some economists predict a slight drop in rents, but only in some metros – and even there it won’t have a big impact after years of rising rental costs.LOS ANGELES – When viewed
Average rates for a 30-year, fixed-rate loan pushed closer to 7% again this week, up from last week’s 6.81%. A year ago, rates averaged 4.99%.WASHINGTON (AP) – The average long-term U.S.
Why would a Florida resident refuse to evacuate? Why don’t some at-risk Florida owners buy flood insurance? A survey by AAA asked.TAMPA, Florida – Severe weather like
“The recovery has not taken place, but the housing recession is over,” says NAR’s chief economist, after the first pending-sales increase in three months.WASHINGTON – Pending
Regulators want to boost capital requirements, but, as proposed, they’re targeting banks that offer mortgages with higher loan-to-value ratios. That could raise rates.WASHINGTON –
Newly built home sales fell 2.5% last month. NAHB cited higher mortgage rates and some supply chain issues for electrical transformers as the leading cause.WASHINGTON – June sales of
Housing recoveries often trail recessions, and positive signs – builder optimism, rebounding prices, more investment – suggest a corner may have been turned.NEW YORK – A recession
The U.S. economy grew 2.4%, up from 2% in the first quarter, indicating a still-robust economy that adds pressure on the Fed to raise interest rates again.WASHINGTON (AP) – The U.S. economy
After moving closer to 7% and then falling last week, the 30-year, fixed-rate moved a bit higher from last week’s 6.78%. A year ago, the rate averaged 5.3%. Three Years ago it was
Observers looked for clues on whether the Fed will raise interest rates again later this year, and the Fed seemed to imply it was likely, but not a sure thing.WASHINGTON – The U.S. Federal
After paying off debt, some older adults use cash or debit cards and avoid debt completely – but that may lower their credit scores and cause other headaches later.NEW YORK – Getting rid
Florida Realtors: YOY single-family home median price flat at $420K, supply at 2.8 months. YOY condo median price also remains the same at $325K, supply at 3.6 months.ORLANDO, Florida.
NAR’s chief economist calls 2023 so far “a real downer,” with sales 23% lower. As pent-up demand grows, the “market can easily absorb a doubling of inventory.&rdquo
The safest metro in Florida isn’t too surprising. The Villages – Central Florida’s mega 55-plus community of 60,000 residents – ranks as No. 1.SARASOTA – When you
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With the tight inventory of existing homes, the market remains solid for builders, and the index measuring attitudes moved one point higher to 56 from June’s 55.WASHINGTON – Buyers who
Monroe County tops the list with a median home value just shy of $1M ($957,819) – but it’s not No. 1 for median income ($73,153). Collier County takes Number Two Spot and has the
The average rate on a 30-year, fixed-rate mortgage rose for the third week in a row, hitting 6.96% – up from last week’s 6.81% and 6.71% the week before.LOS ANGELES (AP) – The
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The rising cost of housing has made inflation higher in most of Florida. While that’s not good, the reason for it – higher demand from new relocating residents – is.In nearly two
As tensions with Russia and China escalate, the so-called BRICS countries (Brazil, Russia, India, China, and South Africa) are preparing to strike a blow against U.S. dollar hegemony.Last week, the
Fed members don’t think alike, and a handful disagreed with the choice to maintain current interest rates at their last meeting. They wanted a quarter-point hike.WASHINGTON (AP) –
People need a roof over their heads, making “home” a life necessity – and also, on the side, a good investment. As a result, buying sooner is better than later.For the vast
It’s a new high for 2023 and the second week of increases. It’s largely the result of higher 10-year Treasury Note yields as investors worry about inflation.LOS ANGELES (AP) ;
Some large financial institutions needed a Great Recession bailout – but the Fed says the 23 largest U.S. banks passed a yearly “stress test.”NEW YORK (AP) – The nation
Florida Realtors lawyers spoke to 6K+ members during a July 29 webinar, saying a new law impacting some property sales to certain foreign buyers goes into effect July 1. Some details are not
Freddie Mac: The 30-year FRM increased, snapping a three-week pullback from 6.79% on June 1, which was the highest level so far this year.The average long-term U.S. mortgage rate rose this,
More buyers want to relocate – but fewer do thanks to a tight inventory of available homes. Phoenix is No. 1 but Florida cities hold all spots from No. 3 to No. 7.One in four U.S.
Florida insurers often don’t trust anyone because fraudsters have many ways to falsify claims. But enforcement is difficult. Less than 2% of fraud actions end in convictions.FORT
A law effective July 1 adds protections: Citizens, for example, can’t refuse coverage due to open FIGA claims, and policies can’t be cancelled if repairs aren’t done.FORT
While “shelter costs” make up 25% of the Consumer Price Index, the calculation only looks at rising rents. SMR calls that “a major flaw” and developed its own index
Home prices, however, declined 3.1% year-to-year. Price increases in the Northeast and Midwest regions failed to offset declines in the South and West.WASHINGTON – Existing-home sales
It’s the third weekly drop in a row and down from last week’s average of 6.69% for a 30-year, fixed-rate mortgage. A year ago, rates were 5.81%.LOS ANGELES (AP) – The average
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More than a dozen economists say it will take 2-9 years for building and warehouse values to get back on track – but homes won’t lose any appreciable value.The nation’s housing
Every justice on the U.S. Supreme Court agreed: The 20 states that keep all money after a tax foreclosure sale must give the excess profits back to homeowners.WASHINGTON – Every
NAHB’s monthly builder confidence index: May’s index of 50 – an equal balance between optimism and pessimism – rose to 55 in June.WASHINGTON – Solid demand, a
About a fifth of the cuts affected a program to keep rural property from being developed – $100M vetoed for Conservation and Rural Land Protection easements.TALLAHASSEE, Florida – Gov.
A man with a good job failed to qualify for a home loan because he has bad credit. What are the pros/cons if his less wealthy, creditworthy girlfriend cosigns?FORT LAUDERDALE, Florida –
How should lenders handle appraisal complaints? Five federal agencies issued a request for comments about a residential real estate reconsideration of value (ROV).WASHINGTON – Five
A two-woman team lied about vacant land they offered for sale and disappeared after victims wired a down payment. The online scam claimed more than 40 victims.TALLAHASSEE, Florida – One
Last week, the average rate on a 30-year, fixed loan was 6.71%; last year, it was 5.78%. Freddie Mac’s chief economist credits the Fed’s interest-rate pause for the drop&
The 63% of U.S. homes with a mortgage lost an average 1.9% of equity in 1Q, thanks largely to higher interest rates and value declines, notably on the West Coast.LOS ANGELES (AP) – For the
Welcome to our custom Naples Area, Marco Island & Lee County Luxury Home Market Report Blog for June 2023; your up to date guide to Luxury Real Estate market data and trends for Southwest
Citizens Insurance requested 12% rate hikes in a 2.5-hour meeting with Florida’s Office of Insurance Regulation. Final OIR decisions usually aren’t issued for a few weeks
During the Great Recession, lenders charged-off second-mortgages and sold them to investors, who are now demanding payment from surprised homeowners.NEW YORK – Homeowners are facing large
A study finds that institutional investors keep many Atlanta residents from becoming homeowners and building wealth, with Black residents affected most.CHARLOTTE, S.C. – New research out of
Many people qualify for an FHA loan but don’t realize it. They’re not just for first-time buyers, student loans aren’t dealbreakers and there are no income limits.RICHMOND,.
The state-run “insurer of last resort” has seen its number of policies surge to 1.3M, but it plans to move up to 26K of those to private companies later this summer.TALLAHASSEE, Florida
A roster of disasters can disrupt business operations, and it’s too late to start planning if a storm is two days out. Analyze current insurance coverage to start.MIAMI – The
Canadian tourists are returning to Florida as COVID and visa problems fade away. The number of visiting Canadians has hit pre-plandemic levels in the past few months.TALLAHASSEE, Florida ;
Homeowners want energy efficient homes. Whether it’s to save money or reduce their carbon footprint, smart home tech can help.As we find ourselves more deeply embedded in the digital,
The worst time to discover you have less insurance coverage than you thought? The day after a hurricane. The 2023 season has started June 1st and runs through November 30th.SEBRING,
Has Erica given you banking advice, as in Bank of AmERICA? The U.S. consumer bureau is worried about AI chatbots doing increasingly sophisticated tasks.NEW YORK (AP) – Can you trust,
The 30-year, fixed-rate mortgage hit a seven-month high last week after three straight increases, but fear of more increases eased after this week’s mortgage survey.LOS ANGELES (AP) —
Faced with the cost of property insurance, taxes and utilities, more children inheriting parents’ homes are deciding it’s best to sell rather than move in.NEW YORK – Higher home
What data does FEMA use to calculate flood insurance costs? Louisiana wants to know if it considers flood-protection mitigation, such as a house raising or nearby levees.NEW ORLEANS (AP) ;
Home inspectors’ automated valuation models (AVMs) need quality-control to keep historic discrimination out, the agencies say. They’re currently accepting comments.WASHINGTON, D. &
Investor purchases dropped almost by half year-to-year in the first quarter. In Florida, it ranged from a 56.6% decline in Jacksonville to 28.8% in West Palm Beach.SEATTLE – Real estate
Older adults either love Florida weather or desire a full winter. The Census Bureau’s latest stats find that 18.7% of Floridians are aged 65 to 84 – but in Maine it’s 19.4%
The Miami area led the nation in price gains with 14.1%, year-to-year, but of 8 Florida metros included, even the lowest-ranking one (Tampa, No. 36) saw a 5.6% gain.WASHINGTON – U.S. house
More officials on the Federal Reserve are backing a decision not to raise rates in a few weeks, saying it will give them time to collect more data.WASHINGTON (AP) – Leading Federal Reserve
A survey by AAA asked Floridians how they prepare for the hurricane season, and one in five said they simply ignore evacuation warnings.MIAMI – A recent hurricane prep survey by AAA revealed
Uuniersity of Florida: After a drop in April – the only one in 2023 so far – Floridians’ consumer outlook rose modestly again in May as the state bucks national trends
FHA’s foreclosure-prevention options don’t work as well thanks to higher interest rates, so it’s taking comments about a proposed “Payment Supplement Partial Claim.&rdquo
HB 881 expands the My Safe Florida Home program to most areas and increases minimum home values. SB 7052 boosts consumer protections and insurer accountability. HB 799 changes Citizens'
Nearly 5.5 million more households are priced out of the housing market today than a year ago, NAR data shows.The 30-year fixed-rate mortgage rose again this week, averaging 6.79% and forcing more
A key index of U.S. prices ticked up 0.4% in April from March, and consumer spending rebounded 0.8%, a sign that inflationary pressures in the economy remain high.WASHINGTON (AP) – A key index
Homebuilder stocks are up 20%, and Bauer says buyers have adapted to the higher mortgage rates. He also thinks builders will start to cut back on buying incentives.LOS ANGELES (AP) – By
From March to April, asking rents for three-bedroom, single-family rentals rose 2.2% after months of slow price declines. But it may be just a normal seasonal increase.First, the bad news:;
45 economists surveyed predict a still-too-high expected inflation rate of 4.2% for all of 2023 – and they don’t think the Fed will lower interest rates soon.WASHINGTON (AP) – The
Census Bureau: Orlando was No. 5 for growth in 2022, adding 65K new residents, but overall city growth was muted as the pandemic pushed people to rural areas.ORLANDO, Florida (AP) – The
From January to March, the U.S. economy grew a small 1.3%, though that beat 1.1% expectations. But consumer spending, which makes up about 70% of that, was up 3.8%.WASHINGTON (AP) – The.
Still don’t understand the National Flood Insurance Program’s new pricing methodology? Get an update from NAR’s Insurance Committee chair.There’s still confusion around
In 1Q 2023, 42.9% of sellers made a buyer concession; in 1Q 2022, it was 25.5%. Some do it to keep a transaction moving forward, others to match homebuilders’ freebies.SEATTLE –
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More buyers frustrated with the limited number of existing homes turned to builders for relief in April. Sales growth is notably rising in the $200K-$400K range.WASHINGTON – Sales of
While the number of homes didn’t change, it varied by region. Of the four included in NAR’s report, pending sales fell only in the Northeast but rose everywhere else.WASHINGTON
Risk Rating 2.0 – FEMA’s updated method to price flood policies based on individual homes – has gotten bad press, but it’s a solution for old problems, according to NAR
Freddie Mac economist: “The U.S. economy is showing continued resilience which, combined with debt ceiling concerns, led to higher mortgage rates this week.”LOS ANGELES (AP) ;
A condo still sells for less than a single-family home, but prices remain firm and rising in many areas, including most of South Florida.MIAMI – The good news is that the national median condo
NAR: Commercial performance will vary from metro to metro, and tighter lending now adds a new challenge. But net absorption has been mostly positive nationwide.WASHINGTON –
Hurricane Ian hit SW Florida last year, and Realtors say many current listings still have outstanding insurance claims. Even if a cash sale, those must be settled before closing.VENICE,
Aggressive rate increases have hurt the housing market, says NAR’s chief economist. “Inflation will not reignite (and will be) closer to 3% by the year’s end,” he says
The agency says “unscrupulous companies bait homeowners.” It’s taking comments on new proposed rules that make sure homeowners have the ability to repay.WASHINGTON –
FHFA cancels loan fees slated to become effective in August. Based on feedback, it says implementation is “challenging.” NAR calls it a good decision.WASHINGTON – The
Home Depot sales surged during pandemic lockdowns but fell short of expectations in 1Q 2023. Consumers still want to remodel but they’re now choosing smaller projects.ATLANTA –
Few existing-home listings translate into a boom for new-home builders. NAHB’s index rose to 50 this month – a midpoint balance between optimism and pessimism.WASHINGTON –
Homes with a steam oven, quartz finishes in the kitchen or hurricane shutters/windows typically sell for a higher price than the average Florida homeFORT LAUDERDALE, Florida – With spring
The market slowed a bit nationally, but not in South Florida, which is seeing slower, yet positive home value gains. About 2 out of 3 homeowners (65.3%) are “equity rich.”Homeowners
Many responsible Americans with solid credit scores face foreclosure and even bankruptcy when bills pile up after care for an expensive medical problem.DENVER (AP) – Cindy Powers was driven
How have attitudes changed after three large bank failures? A Federal Reserve survey found continued tightening. One year ago, banks were easing lending standards.WASHINGTON (AP) – A
New homeowners who “married the house but dated the rate” are tired of dating, and a surge of refinancing is expected if rates drop a full 1%.NEW YORK – Today’s buyers may
For today’s homebuyers, 1 out of 3 potential listings is new construction. Historically, new homes only make up 1 out of 10 for-sale listings.NEW YORK – Home builders are enjoying
Attitudes rise and fall, but Fannie Mae’s April index saw a rise in all six sub-components. Overall, however, attitudes still fall into pessimism territory.WASHINGTON – Fannie Mae
The office market and other commercial projects see a threat from banks’ tighter lending coupled with rising interest rates. But real estate debt funds offer possible relief.NEW YORK
Collateralized loan obligations (CLOs) offer easier terms for apartment building buyers, but their shorter terms and floating interest rates may be creating problems.NEW YORK – Defaults are
Buyers would be hurt financially if the U.S. defaults on its debt June 1 – and institutional investors are a “tremendous threat” to the American dream.WASHINGTON – The
Welcome to our custom Naples Area, Marco Island & Lee County Luxury Home Market Report Blog for May 2023; your up to date guide to Luxury Real Estate market data and trends for Southwest Florida
Remote workers who may live anywhere in the U.S. could choose a 374-square-foot San Francisco studio or a 5,109-square-foot single-family home in Detroit.WASHINGTON – How far you can stretch
How does Risk Rating 2.0 – a new way to bill customers who take out flood insurance – impact homeowners and buyers?WASHINGTON – Risk Rating 2.0 went into effect fully on April 1,
After three monthly increases, UF’s sentiment index fell one point, due mainly to “somewhat unexpected” concerns about the nation’s long-term economic health.GAINESVILLE,
25% of Austin and Seattle listings cost buyers less monthly now than they did one year ago as falling prices counteract interest rates. But that’s less true in Florida.SEATTLE – A
Everyone gets old, and a population wave of higher-income baby-boomer buyers wants to age in place. For many of them, that means a home elevator.NEW YORK – Older people shopping for
The U.S. could default on its debt by June 1 if politicians don’t reach an agreement by then – but even a last minute deal can temporarily upend financial markets.WASHINGTON (AP) –
Buyers haggle to keep costs down – but home selling price isn’t most important. For bigger savings, buyers should compare mortgages and negotiate better terms.NEW YORK – The
Mobile owners pay rising rents and live in fear that their land rental could be sold to a developer. Buying the park and going co-op gives them peace of mind.PORTLAND, Oregon. (AP) –
As out-of-state and international buyers focused on Miami and other cities, more residents of those cities headed to Florida.’s smaller and more affordable towns.MIAMI – Florida’s
The most likely outcome: Lenders will muddle through using their Great Recession playbook. Most will likely pay down commercial loans or work to extend them.RICHMOND, Va. – Like the sobriety
Special assessments appear in various places of the Florida Realtors/Florida Bar contract, but Paragraph 3(c) on the Condo Rider has confused more than a few members.ORLANDO, Florida – The
Homebuyers can secure flood insurance right away, but most current homeowners face a 30-day waiting period – and the 2023 hurricane season begins June 1.ORLANDO, Florida – Most
The quarter-point hike puts the benchmark rate at 5.1%, the highest in 16 years. But amid bank turmoil, the Fed also signaled future hikes could be put on hold.WASHINGTON (AP) – The
How does a homeowners’ association rider differ from a condominium rider? How is it similar? This month’s focus is on the similarities between the two. Next month we
It depends who you ask – and estimates vary widely. Five reliable sources, including realtor dot com, say the housing shortfall ranges from 1.7M to 7.3M homes.NEW YORK – There are
President Biden approved a major disaster declaration and FEMA assistance for Broward County. Fort Lauderdale may also offer $5,000 per household.FORT LAUDERDALE, Florida – President Joe Biden
Analysts were expecting another interest-rate increase, but they’re waiting to review the Fed’s analysis, which could easily impact the direction of mortgage rates.WASHINGTON (AP) ;
Homeland Security says that Risk Rating 2.0 – a flood insurance system that prices policies by house rather than flood zone – needs more tweaking than expected.WASHINGTON –
FHFA is raising some loan-level pricing for homebuyers whose lender plans to sell the loan to Fannie or Freddie. The change mainly impacts stronger-credit buyers.WASHINGTON – In January,
According to Apartment List’s latest report, the age group finally has a majority (51.5%) owning homes, though Gen X had a 58% rate when at the same age.NEW YORK – Thanks to the housing
In Tampa, for example, March inflation was 7.7%. But after backing rental costs out of the local calculation, inflation was a somewhat-reasonable 3.8%.TAMPA, Florida – In some ways, the
The area has a housing affordability problem in part because a limited amount of land for development continues to sell for higher amounts of money.FORT LAUDERDALE, Florida – South Florida is
HUD will propose clearer rules shortly. Once finalized, they’ll help the Real Estate industry comply with the Fair Housing Act and be the standard for government-assisted housing
Sales surpassed economists’ expectations. Builders say decreasing mortgage rates and the existing-home market’s lack of inventory probably pushed sales higher.WASHINGTON, April 25
A Bradenton homeowner fixed problems nine years ago after a city code violation, but a surprise lawsuit for $75K arrived last August demanding money.Last month, Marina Adair returned to Bradenton
Of the 20 cities included in the indices, 8 had price declines – but Florida led the U.S. in price increases with No. 1 Miami (up 10.8% year-to-year) and No. 2 Tampa (7.7%).NEW YORK – S
Overall consumer confidence fell to 101.3 from March’s 104.0, dragged down by a drop in future expectations. The measure of current attitudes rose 2.2 points.BOSTON – In April, the
Some housing-crisis-era loans a decade ago had “piggyback” mortgages – part of a 20% down payment – and some debt collectors recently started to demand money.WASHINGTON, D. &
Almost 1,100 Fort Lauderdale-area homes suffered major losses. Governor DeSantis asked for federal assistance after the area was hit with 26 inches of rain.FORT LAUDERDALE, Florida – A
Despite the weekly volatility in borrowing costs lately, the overall trend is down, NAR says.Though mortgage rates inched up this week, they remain below 6.5%, Freddie Mac reported Thursday.
The planning process starts with questions. HUD notes that things like technology have changed, and it will update regulations after a public comment period.WASHINGTON – The U.S. Department of
Under Risk Rating 2.0, how does FEMA determine an individual property’s insurance cost? FEMA says it can’t share data, so a Louisiana parish sued to find out.NEW ORLEANS –.
Buyers are turning to the new-home market to find more housing options. Read more about the outlook for home sales from NAR’s latest report.The spring homebuying season is off to a slow start
Realtors can’t sell homes that aren’t listed for sale, and NAR’s chief economist cites a lack of inventory as the prime cause of March’s drop in signed contracts.WASHINGTON
After five weeks of declines, the average 30-year, fixed-rate mortgage rate rose for the second week in a row. Last week it averaged 6.39%; a year ago, it was 5.1%.The average long-term U.S.
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A tight listing market pushes buyers to look at potential more than curb appeal, and HUD’s 203(k) program helps them include upgrade costs in their first mortgage.WASHINGTON – For more
The Consumer Bankers Association president says social media sparked a panic, but the industry’s two unique bankruptcies had “a very specific demographic of depositors.”NEW YORK )
An analysis of state data suggests legislative reforms that reduce litigation risks for insurers encouraged some carriers to expand their presence in the state.FORT LAUDERDALE, Florida – Not
Builder optimism rose again in April thanks largely to a tight inventory of existing homes, and the index components that gauge future expectations rose the most.WASHINGTON – Builders remained
Florida homeowners’ insurance premiums will go up an extra 1% starting in October. The insurance premium add-on will help recoup money caused by property insurer insolvencies,
Citizens – the Florida-owned insurer of last resort – says policyholders don’t need to worry about passing deadlines if the vendor overseeing claims causes communication delays
Early reports often change, but Colorado forecasters say an El Niño development in the Pacific Ocean suggests fewer hurricanes, with 13 named storms predicted.MIAMI – After back-to-back
California Governor Newsom says his state is “well worth the price” compared to Florida, but an analysis finds Florida at No. 45 for overall tax burden while California is No. 9
A Florida bill would fine insurance companies for bad behavior. If passed, insurers would face greater state oversight and fines up to $1 million for “willful violations.&rdquo
The U.S. hit its debt ceiling on Jan. 19 but can keep running until summer. If Congress fails to agree, though, a debt default creates commercial real estate problems.WASHINGTON –
A condo still sells for less than a single-family home, but prices remain firm and rising in many areas, including most of South Florida.MIAMI – The good news is that the national median condo
Created after the Great Recession, the Act oversees many facets of today’s mortgage and home-sales market, though some of the tougher rules have been eased.NEW YORK – The Dodd-Frank Wall
Study: March asking rents fell 0.4% to $1,937 year-to-year, the lowest level in 13 months. But 4 Florida cities in the study saw increases ranging from 0.7% to 3.9%.SEATTLE – The
Also called a like-kind exchange which can include many types of "property", it allows an investment-property seller to postpone taxes by reinvesting in similar property – but an exchange has
Southern state homeowners generally pay less, though. New Jersey homeowners, for example, pay double the average amount Florida homeowners pay ($4,100).NEW YORK – Property taxes increased
Real Estate usually sees cycles between buyer’s and seller’s markets, but this time it’s a bit different. Supply vs. demand hasn’t changed because both sides pulled.
As millennials settle down and have children, they purchase homes that can accommodate growth. In South Florida, millennials spend about 2.4% more than the average buyer.MIAMI – Millennials in
In February, inflation was 6%. Gas and food prices moderated, but services – rents, restaurant meals, haircuts, auto insurance, etc. – continue to rise.WASHINGTON (AP) – U.S.
A study compared certain home features to all sales and found a quicker time to contract with some. A smart-doorbell home, for example, sold 5.1 days faster.FORT LAUDERDALE, Florida –
Many homeowners would like to sell – to upsize or downsize – and their choice to postpone it often boils down to “it just doesn’t feel like the right time.”MIAMI ;
The Senate unanimously passed a bill that eases the timeline for condo inspections. It now goes to the House and, if passed there, to Governor DeSantis for his signature.TALLAHASSEE, Florida
The stock for many major U.S. builders is up 20% so far as investors bank on it probably “crossing the valley from recession to potential recovery” in fall 2023.LOS ANGELES (AP) –
Real estate taxes have been on the rise over the last few years. Help home buyers avoid the sticker shock.Property taxes can make up a sizable portion of homeowners’ budgets, particularly in
Welcome to our custom Naples Area, Marco Island & Lee County Luxury Home Market Report Blog for April 2023; your up to date guide to Luxury Real Estate market data and trends for Southwest
Florida Realtors economist: Florida remains a hotspot for international buyers and sellers, with a slight rebound in activity in 2022. However, constraints remain.ORLANDO, Florida – A
The declining mortgage-rate streak continued, though the 30-year, fixed-rate drop from last week’s 6.28% to this week’s 6.27% was relatively small.NEW YORK – The average long
Rather than paying a mortgage monthly, make a half payment every two weeks, equaling one extra payment per year. It can shave about 6 years off a 30-year loan.Every year? No, not the one where
In February, the number of buyers searching listings outside their state dropped 3.6% year-to-year – but those looking locally fell 14.4%. 5 Florida Metros are top go-to spots.SEATTLE –
RE Q&A: A golf community condo owner hasn’t had a problem in 20 years but a new owner moved the tee boxes. Does that make them responsible for damage?FORT LAUDERDALE, Florida
With only one metro exception, the 12 major housing markets west of Texas saw price drops in January, while the 37 biggest metros east of Texas saw price increases.NEW YORK – Real estate has
How does a lender decide a mortgage rate? In part it’s the buyer’s credit score and other traits, but it also depends on a bank’s investments, outlook and mortgage bonds.NEW
Borrowing costs are decreasing as home sales are rising, which bodes well for a potentially active spring market.Mortgage rates continued to slide this week, adding more fuel to what appears to be a
Chinese investors have increased their U.S. RE investments, and Congress is taking a harder look at their agricultural buys as a potential security threat.WASHINGTON – China’s government
Pending sales – homes under contract but not yet sold accross the US – rose 0.8% month-to-month in February with only the Western region seeing a decline.WASHINGTON – Pending home
Rising mortgage rates and still-high prices have pushed pandemic hot spots – notably those with a significant tech sector – to cool faster than other metros.SEATTLE – Tech-hub
Banks are the tried-and-true method, but other sources for real estate investing include credit unions, microloans and arrangements through a private lender.NEW YORK – As more people realize
An assumable FHA, VA or USDA mortgage adds a nice bow to your marketing package.Key takeaways:A mortgage assumption takes place when the buyer takes over the seller’s existing mortgage at
Many commercial brokers say credit will get tight following bank upsets, but it isn’t clear how much. Most lenders haven’t digested the info and finalized changes yet.NEW YORK
The pandemic pushed many city dwellers to the suburbs, and cities are still losing residents – but urban and small-town population growth is now relatively flat.NEW YORK – Large cities
January prices rose 3.8% compared to 5.6% in December, in part due to up-and-down mortgage rates. But Miami ranked No. 1 with a 13.8% jump, with Tampa No. 2 at 10.5%.NEW YORK – The &
Older adults who have built equity over many years are in the best position to purchase homes in today’s roller coaster market, NAR data shows.Baby boomers are proving to be the big movers in
Banking sector chaos and a see-sawing stock market didn’t deeply impact Floridians. UF’s sentiment index for March rose 2 points, surprising UF economists.GAINESVILLE, Florida
Some Wall Street traders think regional bank weaknesses will harm commercial Real Estate and consumers, the economy will dip, and the Fed will lower interest rates.NEW YORK – Regional lenders
A look at the property tax law that comes into play on the sale of real property owned by a foreign seller.The Foreign Investment in Real Property Tax Act (FIRPTA) is a tax imposed on the
The confidence index rose from 103.4 (Feb.) to 104.2, with future outlooks rosier than current ones. Many consumers plan to cut down on “highly discretionary” spending.BOSTON,
NAR study: In 2022, boomers made up 39% of buyers (29% in 2021) while millennials made up only 28% (43% in 2021). The main reason? Boomers had more money.WASHINGTON – As a
Using national and local data, a company that helps parents connect with high schools and colleges named Tampa and Orlando areas to its top 25 “best places to live.”TAMPA, Florida ;
At 6.32%, the average 30-year, fixed-rate mortgage declined from last week’s average 6.42% – a ray of hope for buyers seeking to secure a home this spring.WASHINGTON – The average
Buyers are lowering down payments thanks to inflation, high home prices and more sellers willing to negotiate. At $42K, it’s the lowest money down in two years.SEATTLE – The
Find out the hottest trends with swimming pools, what has emerged as a coveted backyard amenity.Home buyers continue to crave upgraded outdoor spaces, with homebuilders reporting continued growth in
Regional lenders support the majority of commercial loans. Recent banking disruption could prompt them to pull back, says NAR Chief Economist Lawrence Yun.With the inflation rate remaining above 6%,
Buying real estate in the U.S. is different than in many parts of the world. Here are 8 questions to answer before you sign a contract for the perfect Florida vacation home.1. How do I find
Sales rose month-to-month but are down 19% year-to-year, with February’s sales falling solidly into the “not good news but not bad news” category.WASHINGTON – Higher mortgage
Buyers may need to shop around for a mortgage. If clients pulled money from a regional bank or deposits went down, the bank may make it harder to qualify.NEW YORK – Banking center unrest could
NAR’s latest study focuses on curb appeal and ways to boost a home’s sales price: 74% suggest basic maintenance to seller, 53% lawn care and 44% tree trimming.WASHINGTON – Why do
Multifamily starts surged 24% in February, suggesting future relief for renters and condo buyers, but single-family starts rose only a marginal 1.1%.WASHINGTON – Hopes for a surge in new-
Real estate is a time-tested, tried-and-true investment for people who can afford it, but it also involves work. Not everyone wants to be a landlord.NEW YORK – Real estate has been a
The U.S. sanctioned many Russians who now cannot buy U.S. real estate. But identifying corporate ownership is tricky, and FinCEN is looking at all foreign buyers.WASHINGTON – On January
But U.S. metros aren’t all the same. Of the top 10 states for price declines, 8 of 10 are in the West, as Miami, Tampa and Atlanta show the biggest price jumps.NEW CASTLE, Indiana ;
Smart home automation is more accessible than ever. Use this guide as a starter to educate yourself.Home automation is increasingly popular as technology improves and devices become more
CEO of Sage Communities: “Who ever thought that a devastating hurricane would cause a real estate boom?” Ian’s hardest-hit barrier islands are now hot spots.FORT MYERS, Florida
A Michigan city claims six chickens can’t qualify as emotional-support animals, but a federal judge said “maybe” – and that only a jury can decide.SOUTHGATE, Michigan –
Habitat for Humanity may have to delay affordable-home builds as land costs rise – the one element of its program that needs money in addition to donations.ORLANDO, Florida – Single
In February, month-to-month home sales surged 14.5% as buyers locked in lower mortgage rates, but a 0.2% price drop is the first decline in almost 11 years across the US.WASHINGTON – Existing
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In a heated political era, no one can predict what the final 2024 U.S. budget will look like, but the White House’s initial proposal boosts a number of housing programs.WASHINGTON – The
NAHB’s confidence index rose by two points in March and has now eased higher for three months in a row. But at 44, the index remains in negative territory.WASHINGTON – While high
Last week, the average 30-year, fixed-rate mortgage averaged 6.6%. It’s the second weekly drop and a dash of hope for anxious spring homebuyers.NEW YORK – The average long-term U.
Rates below 6.5% are lifting home purchase demand at the start of the spring homebuying season.The Federal Reserve building in Washington, D.C.Mortgage rates continued to slide this week, even after
Job reports, hourly earnings and price data suggest inflation may be slowing even as bank troubles stir recession fears. But a bond-price drop could help lower mortgage rates.NEW YORK (AP)
Mix and match goes beyond fixtures and faucets.Contrasts have been popular in kitchen design in recent years, whether it’s faucets and fixtures or furniture sets. So, it’s not surprising
Nationally, it’s 45.5%, though slightly less in the two Florida metros noted: 41.7% in Miami (up from 31.8%) and 41.3% in Orlando (up from 33.3%).SEATTLE – Home sellers gave
Current bank problems are largely driven by fear, and savers are moving money from regional banks to the big ones bailed out during the Great Recession.WASHINGTON – In the previous financial
A number of people who bought homes during the bidding wars – often foregoing inspections and making offers sight-unseen – are discovering problems with the property.Some homeowners
Last week some pundits thought the Fed might keep rates steady at its meeting this week, but most now say that would make the bank issue look like a big deal.WASHINGTON (AP) – Still grappling
A major bank failure has scared investors. It’s unclear if things will get worse, but financial stress could lower mortgage rates and push the Fed to reconsider rate increases.NEW YORK –
After five weeks of increases, the average rate for a 30-year, fixed-rate mortgage fell to 6.6% from last week’s 6.73%. One year earlier it was 4.16%.NEW YORK – The average long
A survey finds commercial investors “cautiously optimistic” even in a depressed market. The reason: future expectations. Many expect bargains to appear soon.NEW YORK –
The pandemic cut the number of foreign buyers traveling to the U.S., but the first wave is reappearing. A Miami condo has seen a 30% increase in Brazilian buyers.NEW YORK – Real estate
While the FHFA lenders already focus on lower-income housing, the new single-family bonds are considered environmental, social and governance (ESG) securities.WASHINGTON – Single-Family Social
We're in the state Capitol watching out for Realtors and property owners' interests — on everything from affordable housing to rising property insurance costs.Florida Realtors serves as the
In addition to banks and online lenders, homebuyers should check out options from a credit union, which tends to offer better rates for both borrowing and saving.NEW YORK – In the past year,
California Governor Newsom says his state is “well worth the price” compared to Florida, but an analysis finds Florida at No. 45 for overall tax burden while California is No. 9
Darker cabinets, wallpaper and patterned tiles are top trends this year.All-white bathrooms were once celebrated for their clean lines, simplicity and spa-like aura. But such muted designs are now
Welcome to our custom Naples Area, Marco Island & Lee County Luxury Home Market Report Blog for March 2023; your up to date guide to Luxury Real Estate market data and trends for Southwest
More Orlando-area owners are being told that state-owned Citizens Insurance is their only option. In a three-county area, the number of policies rose 159% year-to-year.ORLANDO, Florida –
In testimony before Congress Tuesday, Fed Chair Powell said the economy is “stronger than expected” and the “ultimate level of interest rates is likely to be higher.&rdquo
If homeowners with an FHA loan default, they may still be able to keep the house through a mortgage modification, which now includes a 40-year option.WASHINGTON – The Federal Housing
The U.S. consumer watchdog’s report on junk fees focused on a range of businesses, such as banking and payday lending, and includes four used by mortgage servicers.WASHINGTON, D.C. – The
In an open letter to the housing industry, HUD Secretary Fudge asks members to nix things like application fees, though she also hints at possible legislative changes.WASHINGTON – U.S.
Builders say negative housing headlines are keeping buyers from the market. Be ready to explain data swings to ease your clients’ concernsAre negative headlines about the housing slowdown
Recent economic reports suggest inflation isn’t yet under control, and the Fed says it may have to increase interest rates more than it expected a few weeks ago.WASHINGTON (AP) – A run
It’s the fifth weekly increase in a row. Last week, the 30-year, fixed-rate loan averaged 6.65%. One year ago, it was 3.85%.WASHINGTON – The average long-term U.S. mortgage
The spring season will likely draw sellers and buyers to the market, but after that, U.S. metros will probably go different directions for buyers’ and sellers’ markets.As the reality of
Study: The typical U.S. homeowner moved after 12.3 years in 2022, down from 13.4 in 2020 and 12.9 in 2021. But in Florida, only a Miami homeowner stays that long.SEATTLE – The typical U.S.
Inflation slowed and the stock market climbed in the first six weeks of 2023, but then it stopped. A soft landing seemed possible; now recession fears are back.WASHINGTON (AP) – Maybe it
Keeping you and your family safe is the ultimate priority but so is mitigating the impact of financial loss by having insurance coverage and an emergency fund.Natural disasters – from floods
The U.S. House passed a bill to allow remote notarizations, a move NAR says it “has strongly supported… since 2018.” It now goes to the Senate for consideration.WASHINGTON –
The Florida Insurance Guaranty Association must pay United Property & Casualty’s debts, which it estimates will be somewhere around $450M to $550M.TALLAHASSEE, Florida – A non-profit
January pending sales rose 8.1% month-to-month as mortgage rates fell and affordability increased; however, pending sales were still down 24.1% year-to-year.WASHINGTON – Pending home sales
Middle-aged adults often take in older parents facing health problems, but the “reverse boomerang” effect helps with both childcare and living expenses.NEW YORK – Approximately one
Overall, across the US, January new-home sales rose 7.2%, but the South’s 17.1% carried the three other areas that saw a decline. The Northeast saw the biggest drop at 19.4%.WASHINGTON
A jump in pending home sales in January indicates consumers are wading back into the market as rates settle in the 6% range.For the second consecutive month, contract signings increased in January,
Attitudes turn positive: A monthly UF study of Floridians saw a 1.9-point increase overall, with a rise in current expectations as well as expectations for the future.GAINESVILLE, Florida
Due to a “surprisingly resilient economy,” 58% of survey economists still predict a recession this year, but half as many think it will happen in the first quarter.WASHINGTON (AP) ;
Investors expect the Fed to raise interest rates soon, and this week’s increase in the 30-year, fixed-rate mortgage reflects that. Last week it was 6.5%.WASHINGTON – The average
FHA lowered its mortgage-insurance premium for borrowers by 30 basis points. The $117 monthly savings is based on a $467.7K home with 3.5% down.WASHINGTON – The Federal Housing
In general, technology simplifies complicated tasks. It’s doing that now with writing, and it’s expected to soon speed up the mortgage-approval process.NEW YORK – Real estate
Americans lost an average 4.9% of their home equity since June 2022 ($2.3T). But many Florida metros bucked the loss trend, with Miami up 19.7% year over year ($77B).SEATTLE – The total
Homebuyers’ first step has nothing to do with a house: It’s a credit score check to see if they even qualify and, if so, how much house they can afford.NEW YORK (AP) – A low credit
Flood insurance is complicated, so FEMA created a brochure for Realtors to help agents answer client questions, such as, “What is an elevation certificate?”WASHINGTON – The Federal
Florida Realtors: January closed single-family sales fell 32.5% as inflation, higher interest rates eroded demand, but for-sale inventory rose 134.2% to a 2.8-months’ supply.ORLANDO, Florida
The monthly fee for FHA loans is being reduced, alleviating “some of the financial stress” buyers have faced from rising home prices and mortgage rates, the association says.© Malte
Of those helped, 63K followed Hurricane Ian and 4K Nicole. It comes to $5.2B in grants, disaster loans and flood insurance after Ian and $19.8M after Nicole.WASHINGTON – The Federal
The tech behind the video doorbell is ever evolving, so this updated list includes the best options based on what’s available today, plus a few recommendations.Since this series first
It’s the highest average for the 30-year, fixed-rate loan since Nov. when it peaked at 7.08%. Last week it averaged 6.32%; one year ago it averaged 3.89%.WASHINGTON – The average long
From 2020 to 2022, the number of people with medical debt on credit reports dropped by 8.2M due to more insured Americans and credit bureau changes.WASHINGTON (AP) – The number of people with
Ian and Nicole victims who were forced to find temporary quarters for 30 days may qualify for a property tax discount under a law the Florida Legislature passed in December.TAMPA, Forida. –
There’s been an uptick in mortgage company bankruptcies as rates rise and biz declines. For buyers, that means a possible hiccup as they head toward closing.NEW YORK – It’s
FHA wants to hear from the public on ways to improve its Single Family 203(k) Rehabilitation Mortgage that rolls home upgrade costs into a buyer’s first mortgage.WASHINGTON – The Federal
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It’s tough to launch a new business or rise in the ranks – but not just for you. It’s not success if your family doesn’t pick up slack and cheer from the sidelines.NEW
31% of U.S. December sales were for cash, though Florida percentages ran as high as 52% in West Palm Beach. VA and FHA loans also rose in most Florida metro areas studied.SEATTLE –
Digital currency hasn’t taken over the real estate industry, at least so far. One analyst suggests it can’t turn “rules on their head” without mastering those rules
You’ve heard of the open-concept kitchen. How about the open-concept bathroom? It may sound slightly scandalous, but the idea centers on creating a private, waterproof space. It includes
Homestead exemptions help residents, but many states use them as a way to shift a higher percentage of the property-tax burden onto seasonal owners.BOSTON – During a memorable scene in the
Developer Stephen Ross says New Yorkers are moving to Florida for jobs, not just retirement, due to tax issues, security concerns and Florida’s “ease of living.”NEW YORK –
The City of Sanibel received the following information from the Florida Department of Transportation (FDOT) regarding Causeway construction activities through February 28, 2023. FDOT's
The NAHB index measuring builders’ attitudes rose 7 points this month to 42. While 51 and higher leans positive more than negative, it suggests better times ahead.WASHINGTON – For the
United Property & Casualty Insurance Company is insolvent, and the company cites higher-than-expected losses from Hurricane Ian. Florida is taking steps to place it in receivership
In most cases, a Triple Net Lease provides headache-free, passive income. Another smart RE investment? Retail properties with tenants like a bank or CVS.MIAMI – As you drive to
Florida Realtors economist: More people still move into the Sunshine State than leave it, and United Van Lines’ analysis of its customers unveils some of their motives.ORLANDO, Florida –
An official recession isn’t usually defined until after it’s over, but even if a generally expected one occurs later this year, it will likely be mild.WASHINGTON (AP) – The second
Many of the usual dating rules also apply to homebuyers: Don’t fall in love at first sight, look beyond superficial traits and be willing to break up if it goes south.You are a buyer
Welcome to our custom Naples Area, Marco Island & Lee County Luxury Home Market Report Blog for February 2023; your up to date guide to Luxury Real Estate market data and trends for Southwest
Yearly tax value increases are capped at 3% on homesteaded properties, but voters may be able to lower it to 2% if the Florida Legislature passes an amendment proposal.TALLAHASSEE, Florida – A
Last week the 30-year, fixed-rate mortgage averaged 6.12%. While the Fed says some inflation measures eased, it still expects two 0.25-point rate increases this year.WASHINGTON – The
Pending home sales increased in December for the first time in six months, and new-home sales and mortgage applications are rising.New housing data released this week offers hope that the market
HUD says steps it took to protect homeowners with an FHA loan during the pandemic helped up to 274K Floridians and up to 2M Americans avoid foreclosure.WASHINGTON – Earlier this week, the U.S.
A slowdown is now underway, says NAR Chief Economist Lawrence Yun. But don’t expect to see dramatic price drops.After three years of runaway home prices, buyers may soon find relief. In some
Work still needs done, but anyone standing in downtown Fort Myers would be hard pressed to see damage from one of the U.S.’s most destructive hurricanes.FORT MYERS, Southwest Florida –
After four weeks of declines, the average rate for a 30-year, fixed-rate mortgage rose to 6.12% from last week’s 6.09%. It may suggest some short-term stability.The average long-term U.S.
TaxWatch: Florida is almost a victim of its own success. New renters poured into the state, notably during the pandemic, but found too few homes to accommodate them.INVERNESS, Florida –
Home builders are holding their major convention in Las Vegas this week, and their chief economist thinks rates will “normalize” in the second half of the year.LAS VEGAS – The
FICO study: While credit scores empower users to secure loans or get better interest rates, some people view them almost like a test, and an “A” grade provides security.SAN JOSE,
The Federal Reserve wants to see economic contraction, but Friday’s jobs report was “explosive” – 2.8 times higher (517K jobs) than predicted (185K jobs).WASHINGTON (AP)
Should we get married or buy a house? In some U.S. cities – largely ones with lower home values – young couples are likely weighing that decision.Buying a house and having a
Florida Realtors economist: It will cost buyers more each month to pay a mortgage than rent – but that ignores the advantages and increased savings of ownership.ORLANDO, Florida –
Buyers who wait for more inventory, lower interest rates or something else may never own a home. And given history, 2023 is a pretty good year to commit.Mortgage rates are finally falling
The average new-home size dropped 45 square feet to 2,480 in 2022, says NAHB. It predicts home sizes will expand this year before dropping again in 2024.LAS VEGAS – Following a brief
As the 30-year rate dropped from 6.9% to 6.36% and some home prices fell, Miami buyers averaged 8.3% savings in just two months and Jacksonville buyers 7.4%.Between October 2022 and December 2022,
The Consumer Confidence Index rose to 109 in December and dropped a bit to a still-optimistic 107.1 in January as the possible threat of a 2023 recession looms.BOSTON – American consumers are
At 6.09%, the 30-year, fixed-rate loan moved even closer to 5%. It’s down from last week’s 6.13% and almost a point lower than highs of 7.08% reached in October.WASHINGTON –
A seemingly trustworthy Southwest Florida construction company allegedly defrauded dozens of retirees. After it stopped building, the vendors sued the homebuyers.PORT CHARLOTTE, Florida ;
Out of 126 regulated property insurers. Fla.-operated Citizens is the state’s largest, followed by No. 2 Universal Property and Casualty, and No. 3 State Farm.TALLAHASSEE, Florida –
News Release from City of Sanibel – For Immediate Release, February 4, 2023. Sanibel Island, FLSanibel is fortunate to have an abundance of lush vegetation, and because of,
Under a new law, “non-Canadians” who want to buy residential property can’t have an equity ownership greater than 3% for two years – until December 31, 2024.TORONTO –
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It sounds like a made-up word akin to “Sharknado,” but rentvestors – often younger adults – choose to rent a place and, at the same time, buy investment property.CHICAGO
Some Florida homeowners with homestead property-tax exemptions are finding that the exemption is at risk if they rent out part of the home or run a small business.SARASOTA, Florida – When Dan
Buyers offered a 2% mortgage rate discount their first year and 1% the second often hope they can refinance then and/or raises at work will make up the difference.NEW YORK – Anna Raymond was
Pending home sales rose for the first time in six consecutive months, thanks in part to lower interest rates. Economist Yun says home sales’ low point “is likely over.&rdquo