Tag: Florida

Buyers’ Income Rises Along with Home Prices

A three-year study of buyers’ incomes shows the impetus for rising home prices in many of the nation’s hottest cities. A study by Redfin created a top-10 list of metros where buyers’ median income grew the most between 2019 and 2021. Of those, four are in Florida. Nationally, buyers’ incomes grew 6.8%; in those Florida…
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Fla.’s Consumers Slightly More Optimistic in July

GAINESVILLE, Fla. – July consumer confidence among Floridians increased four-tenths of a point to 61.4 from June’s revised figure of 61, a trend that also occurred nationally. Among the five components that make up the index, two increased, two remained unchanged and one decreased. Current conditions: Floridians’ opinions about current economic conditions were mixed. Views…
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Fla. Lists ‘Average Insurance Premiums’ by County

TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation (OIR) issued a report July 1 that showed homeowners in different parts of the state pay widely varying amounts for property insurance. Average premiums for homeowners by county Monroe: $6,729 Miami-Dade: $5,093 Palm Beach: $4,811 Broward: $4,802 Martin: $4,373 Collier: $3,928 Franklin: $3,849 Walton: $3,603 Indian…
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New Insurance Challenge: Rating Downgrades

TALLAHASSEE, Fla. – Florida regulators scrambled Thursday after they said a financial-ratings agency notified about 17 property-insurance companies of potential ratings downgrades. Insurance Commissioner David Altmaier and state Chief Financial Officer Jimmy Patronis questioned the ratings agency, Demotech, Inc., and warned that such widespread downgrades could affect homeowners across the state. The ratings are important…
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Another Florida homeowners insurance company goes under

TALLAHASSEE — Saddled with financial losses and lacking reinsurance for this year’s hurricane season, another Florida property-insurance company is headed toward receivership. The Florida Department of Financial Services late Monday filed a petition in Leon County circuit court to be appointed as a receiver for Southern Fidelity Insurance Co. The petition described Southern Fidelity, which…
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U.S. News & World Report: Fla. Has 8 of Top 10 ‘Best Retirement’ Metros

NAPLES, Fla. – It may be getting more expensive to live, but Southwest Florida remains at the top of the “Best Places to Retire” in the country, based on the latest research by U.S. News & World Report. The state’s metros led the way in the annual findings released this morning by the magazine, with…
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Fla. Builders Investing Heavily in New Single-Family Construction

ORLANDO, Fla. – Building permits reflect future growth, and U.S. contractors appear to be betting heavily on the Sunshine State. A study of government numbers compiled by Omnis Panels compared 2021 building permits for the first half of the year, through June, and compared them to building permits issued for the same timeframe one year…
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Lawmakers Consider Changes to Fla. Law After Surfside Tragedy

TALLAHASSEE, Fla. – In the aftermath of the collapse of Champlain Towers South in Surfside, Florida, state lawmakers and other stakeholders looked closely at existing laws and asked what could be done to avert a similar tragedy going forward. The building collapse killed 98 residents on June 24, 2021. In response, the Florida Bar created…
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Condo Prices Are on the Rise in Florida

SANTA CLARA, Fla. – Priced out of the single-family market, more buyers are now turning their attention toward often a more affordable alternative – condominiums and townhouses. Over the past year, sales have rapidly been on the rise, whether for a permanent residence or even as a second home. Twice as many condos sold in…
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