A study by the Tax Foundation found that overall, living in Florida is less expensive than living in the Northeast and Midwest. Based on the national average, your dollar goes farther in Florida than other states. $100 in Florida buys $101.21 of goods based on national prices. However, as the Clearwater Gazette reported, prices are higher near cities, but prices in and … Keep reading... about It’s Cheaper to Live in Florida
Buying Real Estate
Economic Data Points to Improved US Economy
Indicators of economic activity show that the US economy grew faster than expected and suggest that a sustainable growth period lies ahead. Business investment is up significantly and the growth rate April through June, 2014 was over four percent. In addition, the Labor Dept reported a drop in initial unemployment benefits claims. This is improvement is reflected in optimism … Keep reading... about Economic Data Points to Improved US Economy
Home Construction Growth
Last month’s housing starts were at an annual rate of 1.093 million units, the highest reading since November. Single-family housing starts in July increased 8.3 percent over the revised June figure of 606,000, and were at a rate of 656,000. The July rate for multifamily housing was 423,000, showing the strongest level of starts since 2006. Home Depot and other home stores … Keep reading... about Home Construction Growth
Florida Foreclosure Properties
While Florida still has the highest foreclosure rate in the nation, July 2014 showed a drop of 30% over July 2013. Home sales in Florida have been somewhat flat and property prices have begun a slow increase. Southwest Florida home sales, and homes sold in Punta Gorda, Port Charlotte, Rotonda, Venice and Sarasota have gained in price, the uptick is not dramatic. Because … Keep reading... about Florida Foreclosure Properties
Flood Hazard Zones
Many people misunderstand the coverage they have with their standard homeowner insurance policy and the need for additional flood insurance underwritten by the US government. FEMA was created by the Flood Protection Disaster Act of 1968 to regulate construction in coastal areas and flood plains. FEMA analyzed the flood prone areas of the nation and in 1970’s issued maps that … Keep reading... about Flood Hazard Zones
Stable Home Prices
During the last half year there is growing evidence that home prices in Southwest Florida have or are stabilizing. In Tampa, prices have actually fallen 0.7% in March 2014 over February. However, that small change shows that while there are still a significant number of sales, the balance between available homes for sale and those selling is just about right. All signs point to … Keep reading... about Stable Home Prices
Chinese Investing in College Condos
In a surprising trend, buyers from China are investing in real estate in college towns. They often buy one or several condos or homes near a college so they can give their children an alternative to living in a dorm and to produce income as well. Considering the high cost of real estate in China, investment property in the US seems like a bargain. Buyers are not even worried … Keep reading... about Chinese Investing in College Condos
College Loans Hurt Buying Real Estate
A report by the Mortgage Bankers Association (MBA) has determined that high student loan debt is slowing the recovery of the real estate market. First time buyers are finding it difficult to meet al their obligations and are delaying the purchase of a home or choosing to rent instead of own. FHA is also changing rules that had helped grads in the past. A rule change that could … Keep reading... about College Loans Hurt Buying Real Estate
Cold weather increases interest in Florida real estate
According to research, rent prices are rising across the country as well as in Florida. This rise in rent is helping investors but also making renters reconsider the purchase of homes. As the cost of renting rises, the cost of ownership, with its tax benefits, becomes more attractive. In addition, the cold weather that has spread across the country has increased home searches, … Keep reading... about Cold weather increases interest in Florida real estate
New Mortgage Rules
The Consumer Financial Protection Bureau has issued regulations to protect borrowers from loans they cannot afford and make banks more responsible for those loans. Some of the new rules include the requirement that homeowners will get a monthly statement of account or a coupon book to make payments showing the current mortgage balance, payment amount and next due … Keep reading... about New Mortgage Rules