Category Archives: Uncategorized

4 Fla. metros at top of ‘best cities to invest’ list

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LOS ANGELES– Sept. 28, 2016 – GOBankingRates surveyed 61 out of the 100 most populous cities in the U.S. to find the best and worst cities to own investment property. And according to their analysis, Orlando ranked No. 1 as the top metro area in the U.S. to own investment property, with Tampa coming in…


Study: Fla. ranks fourth as business friendly state

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WASHINGTON – Sept. 29, 2016 – The nonpartisan Tax Foundation released its 13th annual State Business Tax Climate Index, which measures how well-structured each state’s tax code is by analyzing more than 100 variables in five tax categories: corporate, individual income, sales, property and unemployment insurance. Wyoming once again took first place with the most…


Fla. home market sizzled in past year

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PALM BEACH COUNTY, Fla. – Sept. 16, 2016 – Florida home prices rose 9.95 percent from mid-2015 to mid-2016, the fourth-best showing in the nation, according to the Federal Housing Finance Agency’s latest home price index. Oregon led the way with 11.68 percent appreciation, followed by Colorado and Washington. Vermont turned in the worst performance,…


A generation of buyers is getting left behind

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NEW YORK – Sept. 13, 2016 – The homeownership rate among those who are under 35 will continue to drop through 2025, according to a new report released by John Burns, a real estate consultant. In 2004, the homeownership rate peaked at just under 70 percent for all age groups. Americans born in the 1970s…


What’s hampering home sales the most?

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CHICAGO – Sept. 1, 2016 – A dearth of homes for sale, declining affordability, appraisal issues and lender processing delays are the key issues affecting sales, according to the latest Realtors® Confidence Index Survey, a survey sent to more than 50,000 real estate professionals about their latest transactions. That said, most Realtors remain confident about…


U.S. average 30-year mortgage rate rises to 3.46%

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WASHINGTON (AP) – Sept. 1, 2016 – Long-term U.S. mortgage rates rose this week amid expectations in financial markets that an increase in interest rates by the Federal Reserve may be on the horizon. Mortgage rates remain at historically low levels, however. Mortgage giant Freddie Mac said Thursday the average for the benchmark 30-year fixed-rate…


Fla.’s housing market: Higher median prices in July

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ORLANDO, Fla. – Aug. 24, 2016 – Florida’s housing market reported rising median prices and fewer all-cash closed sales in July, according to the latest housing data released by Florida Realtors®. Closed sales of single-family homes statewide totaled 24,083 last month, down 8 percent from July 2015, reflecting the state’s current shortfall in inventory. “Florida’s…


Baby boomers chart new direction in housing

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NEW YORK – Aug. 22, 2016 – Economists are having a tough time figuring out what housing market moves baby boomers will make next. Americans over the age of 55 are veering from previous generations, opting not to retire but instead launching second or even third careers. They are shunning the traditional patterns of retirement,…


Fla. population expected to reach 20.7M this year

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ORLANDO, Fla. – Aug. 16, 2016 – Cushman & Wakefield released their inaugural Florida Population Report, an examination of population trends and its economic impact in Florida. The report, compiled by Cushman & Wakefield’s Research Team, analyzes population growth, employment levels, home values and retail sales activity in Florida’s eight major markets – Fort Lauderdale,…


Low downpayment programs open options for borrowers

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WASHINGTON – Aug. 9, 2016 – Are you or someone you know needlessly missing in action this summer, leaving near historically low mortgage money at 3 1/2 percent to 3 3/4 percent on the table? You might be if you fit this profile: > You’re currently renting though your real goal is to buy a…


Millennials continue to delay committing to buy a home

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MIAMI – Aug. 8, 2016 – Millennials as a demographic are characterized by many things, not the least of which is their tendency to wait on the purchase of a home. Some have blamed tighter lending conditions, while others have cited a difficult job market, underemployment and/or stubbornly low wages. But one other theory holds…


South Florida buyers frustrated by shortage of listings

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MIAMI – Aug. 1, 2016 – A scarcity of homes for sale is rattling buyers, emboldening sellers and pushing prices higher in South Florida. Analysts say a market balanced equally between buyers and sellers has a six-month supply of properties, meaning that’s how long it would take to sell all of the homes if no…


Fannie Mae enhances affordable mortgage program

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WASHINGTON – July 29, 2016 – Fannie Mae announced enhancements to HomeReady, its affordable mortgage option. HomeReady allows borrowers to provide as little as 3 percent down – the first affordable option to give borrowers the ability to qualify with income from non-borrower household members. New enhancements Simplified income eligibility – Fannie Mae says it…


Flagler County, FL Home Sales Down in March, Prices Up

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The local housing market is heating up. The median price for single-family homes rose 28.1% over March 2015. Distressed sales represented only 8.1% of sales compared to 27.0% one year ago. By Toby Tobin PALM COAST, FL – March 5, 2016 – Although some March home sales are yet to be reported to Flagler MLS,…


Foreclosed homeowners lost out in two ways

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MIAMI – July 13, 2016 – Add it to the list of how the little guy got a raw deal during the housing bust: Homes that were foreclosed during the bust gained back value at a much higher rate than other homes, according to research from real estate website Zillow – but their former owners…


National Association of Realtors: Military niche has younger buyers, bigger homes

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WASHINGTON – May 3, 2016 – Out of all adults younger than 35, the share of active-service military members who buy a home significantly outpaces the share of non-military homebuyers. According to the National Association of Realtors® (NAR) first-ever study of military clients, the 2016 Veterans & Active Military Home Buyers and Sellers Profile, young…


Reverse Mortgages Safer But Still Have Pitfalls

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Now, such groups as AARP and Consumers Unions – publisher of Consumer Reports magazine – are saying that safeguards added in recent years to reverse mortgages have earned them qualified approvals. By Toby TobinAdd DETROIT – April 27, 2016 – Across the nation, a sticky subgroup of foreclosure cases involve reverse mortgages. These are loans…


Flagler County Home Sales Down in March, Prices Up

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The local housing market is heating up. The median price for single-family homes rose 28.1% over March 2015. Distressed sales represented only 8.1% of sales compared to 27.0% one year ago. By Toby Tobin PALM COAST, FL – March 5, 2016 – Although some March home sales are yet to be reported to Flagler MLS,…


Florida students can go to school across county lines

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TALLAHASSEE, Fla. – April 15, 2016 – Florida has a new “school choice” law (CS/CS/HB 7029) that allows state students to attend any school they wish subject to a set of rules. While it’s too early to predict the impact on the state’s housing market, 50 percent of buyers with children younger than 18 considered…


In 9% of U.S. markets, an all-cash sale costs more

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IRVINE, Calif. – April 28, 2016 – All-cash buyers of single-family homes and condos nationally paid 23 percent less per square foot than all homebuyers – but cash buyers in 9 percent of local housing markets paid a premium price per square foot, according to RealtyTrac’s Q1 2016 U.S. Cash & Institutional Investor Housing Market…