Freddie Mac Eases Granny-Flat Mortgage Financing
Granny flats – small apartments added to a home or built in a yard – will be easier to finance since lenders can now consider rental income for mortgage approvals.
Floating Mansion Doesn’t Owe Property Taxes
A mega-houseboat docked on Star Island isn’t a “structure,” according to the Miami-Dade property appraiser, and the county won’t demand property taxes.
RE Q&A: OK to Go With Lender’s Force-Placed Policy?
If a mortgage holder drops homeowner’s insurance, their lender will “force-place” a policy on the home. But that policy protects only the lender – not the homeowner.
Housing Costs Spur Boom In Build-To-Rent Homes
Is a single-family home a better rental investment than a condo? Beyond financial return, investors like single-family tenants because they tend to stay longer.
More Buyers Relying on ‘Bank of Mom and Dad’
Young adults want a home; their parents want them to have a home. As a result, more moms and dads are giving money, co-signing or even gifting a house to their kids.
Luxury Sales Down 17.8% in 1Q 2022
Sales remain strong, but soaring interest rates, a shaky stock market, rising inflation and economic certainty have put a damper on demand.
Inflation Hurts Buyers Beyond Prices and Rates
Beyond paying a higher price for a new home at an increased interest rate, owners must deal with rising property taxes, and more face capital gains taxes if they sell.
In Some Fla. Markets, Home Prices Exceed Incomes
Moody’s Analytics considers some Fla. metros “overvalued” because it says the average local resident can’t afford to buy a local median-priced home.
Homelessness: Mental Illness a Cause and Result
HUD: 45% of the homeless suffer from some form of mental illness or chronic substance abuse issue, but an estimated 25% have a serious mental illness.
Mortgage Rates Jump Again, Average 5.23%
The run-up follows last week’s average 5.09% for a 30-year, fixed-rate loan. Increases so far this year appear to be impacting buyers and the housing market.