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
Home Buying and Selling
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
Housing price increase expected in 2014
Real estate analysts expect home prices to increase by 8.3% in Florida during 2014. Price increase was slow in the beginning of the year but the second half is expected to make up for the slow start. Blaming severe weather for slow price growth, analysts are optimistic for appreciation of prices across the country and especially in Florida. … Keep reading... about Housing price increase expected in 2014
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
Florida Real Estate Market Improving
All factors point to improvements. Days on the market are down for listed properties. Prices are up. The number of closed sales in January 2014 was up 10.2% over January 2013. Continued low interest rates also was a factor in price appreciation. Statewide, the median sale price of a single family home was up 12.1% to $162,50 over January 2013. The price of condos / town homes … Keep reading... about Florida Real Estate Market Improving
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
Home sales reach seven year high
According to research by the National Association of Realtors, home sales are up 8.6% in Florida for the year 2013 with over 19,000 units. There has now been over 25 consecutive months of sale price increase in both single family homes and condo/townhome/villa. Homes are also selling after. The median time on market statewide was 50 days, meaning half of all listings sold in … Keep reading... about Home sales reach seven year high
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