http://www.msn.com/en-us/money/realestate/10-states-with-the-happiest-homeowners/ss-BBuSXIh#image=6
Of course we make the list :)
6. FLORIDA
Happy Home Score: B-
Average Home Price (U.S. Census): $224,900
"The Cost of Living Is Reasonable": 58%"
I Feel That My Community Is Racially Diverse": 52%
Average Travel Time to Work: 40 minutes
Tuesday, August 2, 2016
Need to buy a house fast after selling yours? Don't panic, here's what to do
http://www.msn.com/en-us/money/realestate/need-to-buy-a-house-fast-after-selling-yours-dont-panic-heres-what-to-do/ar-BBv94mB
There are some good ideas in this article however some I don't recommend to my clients. The closings can be challenging to coordinate as well.
Lease back the home you are selling
Get a bridge loan
Add a seller’s contingency to the contract that requires seller to find a new home of your choice to live in before closing.
There are some good ideas in this article however some I don't recommend to my clients. The closings can be challenging to coordinate as well.
Lease back the home you are selling
Get a bridge loan
Add a seller’s contingency to the contract that requires seller to find a new home of your choice to live in before closing.
Southwest Florida housing starts up, but market is more competitive
http://www.naplesnews.com/story/money/business/local/2016/08/02/southwest-florida-housing-starts-up-but-market-more-competitive/87952342/
Building has been crazy in the area yet it looks like it is going to slow down. Overall market seems to be slowing but it is just leveling out since it has been a crazy few years!
MetroStudy, a Palm Beach Gardens company, noted that overall starts — which include single-family homes, town houses, condos and other types of housing — have gone up 20 consecutive quarters.
For the year ending June 30, overall starts in Collier County rose 30 percent, to 2,764 from 2,125 a year earlier. In Lee County, overall starts ticked up 9.1 percent to 3,194 from 2,927 the previous year.
But the pace of permitting has slowed in Southwest Florida, and the market is getting more competitive for builders, said David Cobb, regional director for MetroStudy in South Florida
Building has been crazy in the area yet it looks like it is going to slow down. Overall market seems to be slowing but it is just leveling out since it has been a crazy few years!
MetroStudy, a Palm Beach Gardens company, noted that overall starts — which include single-family homes, town houses, condos and other types of housing — have gone up 20 consecutive quarters.
For the year ending June 30, overall starts in Collier County rose 30 percent, to 2,764 from 2,125 a year earlier. In Lee County, overall starts ticked up 9.1 percent to 3,194 from 2,927 the previous year.
But the pace of permitting has slowed in Southwest Florida, and the market is getting more competitive for builders, said David Cobb, regional director for MetroStudy in South Florida
Monday, August 1, 2016
1 million-plus more homeowners can benefit from refi post-Brexit
http://www.msn.com/en-us/money/realestate/1-million-plus-more-homeowners-can-benefit-from-refi-post-brexit/ar-BBv6zae
One good thing for us! Yet brokers are having a hard time keeping up so make sure you find a good one (or I can recommend someone) that will get it done for you.
The decrease in interest rates after the late June Brexit vote meant 1.3 million more borrowers could benefit from a mortgage refinance, bringing the total to 8.7 million, according to a new report from Black Knight Financial Services. That is the highest number since 2012.
While mortgage applications to refinance are high, purchase application volume is not getting quite the same boost from lower rates; higher home prices are offsetting the savings.
One good thing for us! Yet brokers are having a hard time keeping up so make sure you find a good one (or I can recommend someone) that will get it done for you.
The decrease in interest rates after the late June Brexit vote meant 1.3 million more borrowers could benefit from a mortgage refinance, bringing the total to 8.7 million, according to a new report from Black Knight Financial Services. That is the highest number since 2012.
While mortgage applications to refinance are high, purchase application volume is not getting quite the same boost from lower rates; higher home prices are offsetting the savings.
Seller refuses to return the deposit. What’s next?
http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=2&id=340895
I have been in multiple situations where escrow was disputed. Many times before it becomes a legal issue both parties resolve it. Splitting the escrow is common if the buyer is at fault in the scenario however it is always important for both parties to seek legal counsel.
"Since the seller refuses to end this amicably, the buyer must now decide on a legal strategy to pursue the deposit. Many factors go into planning an effective legal strategy, such as the amount of money in dispute, the resources of both sides and the persistence of each party."
I have been in multiple situations where escrow was disputed. Many times before it becomes a legal issue both parties resolve it. Splitting the escrow is common if the buyer is at fault in the scenario however it is always important for both parties to seek legal counsel.
"Since the seller refuses to end this amicably, the buyer must now decide on a legal strategy to pursue the deposit. Many factors go into planning an effective legal strategy, such as the amount of money in dispute, the resources of both sides and the persistence of each party."
Florida's a fruitful market for Airbnb
http://www.naplesnews.com/story/money/2016/07/29/florida-fruitful-market-airbnb/87580094/
I have stayed in Airbnb's plenty of times, they are usually lower cost than a hotel however can draw some negative attention from neighbors and associations. It is best to make sure you are in compliance with your neighborhood rules. Also unless you live close to the Airbnb they can be difficult to manage - since there is a lot of turnover.
According to Airbnb, the typical Florida hosts earned $7,200 in 2015, sharing their spaces for a median frequency of 41 nights.What’s driving demand? Survey respondents point to cost savings over hotel stays, wanting to feel at home away from home, and enjoying the opportunity to stay someplace unusual.
I have stayed in Airbnb's plenty of times, they are usually lower cost than a hotel however can draw some negative attention from neighbors and associations. It is best to make sure you are in compliance with your neighborhood rules. Also unless you live close to the Airbnb they can be difficult to manage - since there is a lot of turnover.
According to Airbnb, the typical Florida hosts earned $7,200 in 2015, sharing their spaces for a median frequency of 41 nights.What’s driving demand? Survey respondents point to cost savings over hotel stays, wanting to feel at home away from home, and enjoying the opportunity to stay someplace unusual.
3 Costs of Homeownership That Might Creep Up on You
http://www.msn.com/en-us/money/realestate/3-costs-of-homeownership-that-might-creep-up-on-you/ar-BBuQZxp
Its always important to have all the costs with a property. There can be expenses that creep up and are important when obtaining a mortgage. Many times your lender will escrow taxes and insurance but HOA has to be paid outside of mortgage payments.
Property taxes
Maintenance and repair costs
Homeowners' insurance and HOA fees
Its always important to have all the costs with a property. There can be expenses that creep up and are important when obtaining a mortgage. Many times your lender will escrow taxes and insurance but HOA has to be paid outside of mortgage payments.
Property taxes
Maintenance and repair costs
Homeowners' insurance and HOA fees
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