The comedian George Burns once said, “I look to the future because that’s where I’m going to spend the rest of my life.” With mere days left in 2023, it’s prime time to look forward to 2024, where we’ll spend the next year of our lives.Right now, the future looks relatively bright for the Sunshine State. While we can’t say for sure how the upcoming year will unfold, here are … Keep reading... about 4 Florida Real Estate Trends to Watch in 2024
Real Estate News & Information
Southwest Florida Real Estate Market
The Southwest Florida real estate market looks promising in the last quarter of 2018. The housing forecast shows that home prices have risen 9.6% over the last year, and the demand is still strong. Sales of single-family homes located in the area rose 0.8% in the second quarter of this year compared to last year. Homes priced under $300,000 tend to sell best. Perhaps it is … Keep reading... about Southwest Florida Real Estate Market
FHA Requirements for a Seller
While FHA has relaxed some of the repair requirements for FHA loan approval, there are still many that a seller should consider. If a seller is intent on selling a home "as-is", the seller should be aware of the items FHA will enforce. However, if a seller is still amenable to an FHA mortgage, they should be sure to place a specific dollar cap on repairs that the FHA … Keep reading... about FHA Requirements for a Seller
Buy a home in Southwest Florida
Is 2018 the year to buy a home in Southwest Florida? Analyzing the right time to buy a home in Southwest Florida, otherwise known as "Market Timing", is difficult to calculate. Personal and societal economics are in constant change. Nevertheless, we all need someplace to live and a home is one of our biggest investments. Even if you are considering a second home, it is a … Keep reading... about Buy a home in Southwest Florida
FIRPTA Foreign Investment in Real Property Tax Act
FIRPTA Foreign Investment in Real Property Tax Act The United States Federal Tax Law requires that a foreign citizen who sells real estate owned in this country pay taxes on the profit of such sale. To insure that the tax is paid, 15% of the proceeds at closing are withheld and transferred to the United States Treasury. The 15% withholding is mandatory if the seller is a … Keep reading... about FIRPTA Foreign Investment in Real Property Tax Act
Home Prices in SW Florida
Home Prices Rise Slowly A recent study by Standard & Poor’s and its research partners have determined that home prices across the nation are rising at a moderate rate. This is good news as real estate markets show recovery but have not returned to panic speculation. This, coupled with strong consumer confidence suggests a good time to buy a home. According to economic … Keep reading... about Home Prices in SW Florida
To Build or Buy an Existing Home
There are many reasons to build a new home but there are just as many reasons to consider an existing home. A person considering a move should carefully weigh the costs and challenges whether to build or buy an existing home. In Florida, the average time to complete new home construction is seven months. However, that number is somewhat misleading. Seven months is the … Keep reading... about To Build or Buy an Existing Home
Homeownership in Sarasota Area
Sarasota Homeownership According to research by the National Association of Realtors (NAR), the rate of homeownership has fallen to its lowest level since 1965. Today in many areas, people are renting homes when they actually can afford to buy. For most people, owning a home is their most secure and valuable investment. Homeownership is a way to save money each month without … Keep reading... about Homeownership in Sarasota Area
National Flood Insurance Program NFIP
National Flood Insurance Program (NFIP) US Senators from New Jersey, Cory Booker and Bob Menendez have written a letter to Federal Emergency Management Agency (FEMA) calling for changes to the National Flood Insurance Program (NFIP). The letter states that the agency that oversees flood insurance for millions of homes in vulnerable areas has done too little to mitigate the … Keep reading... about National Flood Insurance Program NFIP
Missed Condo or HOA Payments
Missed condo or HOA payments soon to effect credit score Some property owners have been rather cavalier in submitting their payments to Condominium Associations or Home Owners Associations. If they make the payment a few weeks, months or even years late, there was really nothing to worry about. That is about to change. One major credit reporting agency is planning to … Keep reading... about Missed Condo or HOA Payments