Home Buyout Program OK’d in High-Risk Flood Areas
The voluntary program will allow the city 6o use over $3.9M from the Fla. DEO to buy 21 homes in areas that now flood often after Hurricane Michael in 2018.
Mortgage Rates Hit 6%, First Time Since 2008
Freddie Mac: 30-year rate rose to 6.02% from 5.89% last week – it’s more than doubled since a year ago. Rising interest rates continue to sideline homebuyers.
Citizens Policy Count Continues to Soar
The state-backed insurer of last resort has 1.047M policies, up about 17K policies from the week before. Since Feb., 5 private insurers have been deemed insolvent.
Predictions and Tips to Start Saving for a House
A recent Fannie Mae survey found just 17% of Americans believe it’s a good time to buy a home. But what happens if buyers wait? How can they better prepare?
Arguments Set in Property Tax Fight
Fla. Supreme Court will decide if a Sarasota County resident was entitled to a full homestead property-tax exemption after renting 2 bedrooms to tenants.
Fla. Housing Demand Impacts Retirement Communities?
With more people moving to Fla. because of remote work options alongside retirees, greater demand for housing may result in more competition and higher prices.
Help First-Time Home Buyers
NAR: First-time buyers comprised 34% of all home buyers in 2021 and the share is rising. Real estate pros can help them understand the market and manage expectations.
Best Time to Buy a Home is Week of Sept. 25
Realtor.com: Despite rising interest rates, fall is the best season to buy for hopeful homebuyers when it comes to home prices, competition and inventory.
Florida Citrus Acres Getting Squeezed
Fla. citrus growers are using 32,046 fewer acres than last year, down about 8%. It’s 53% less than growers used 20 years ago, partially due to development pressures.
Fla. Yards 6th Smallest in U.S. as Lots Shrink
HouseMethod: Fla. yards average about 11,043 square feet per home, less than half of U.S. average lot size of 25,240 square feet. Meanwhile homes are getting bigger.