Tag: Real Estate

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…
Read more

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…
Read more

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…
Read more

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…
Read more

Central Florida’s post-pandemic office market sees increase in leasing activity, upgrades to attract more employees

Two years after the onset of the COVID-19 pandemic, there are signs of growing confidence in Central Florida’s commercial real estate market as businesses continue to bring employees back to the office and resume more normal operations. While there remains a record amount of available office space on the market, asking rates in Orlando are…
Read more

National Home Price Gains Exceeded 20% in May

CoreLogic’s Home Price Index for May reported that although U.S. home price growth relaxed slightly in May from April, it remained in double digits year-over-year for the 16th consecutive month. As in past months, all states and Washington, D.C., posted annual appreciation, with 13 states reporting gains of more than 20%. Though U.S. home price…
Read more

New Laws End Roofer-Advertising Court Fight

TALLAHASSEE, Fla. – A federal judge dismissed a First Amendment fight about part of a 2021 property-insurance law aimed at curbing advertising by roofers after the Florida Legislature revamped the law last month. Chief U.S. District Judge Mark Walker dismissed the case Friday after attorneys for the plaintiffs and the state said it was moot.…
Read more

U.S. Home Prices Rise at New Record Rate, Case-Shiller Shows

The numbers: U.S. home prices rose again in March even as higher mortgage rates began to bite, leaving prices at all-time highs. The S&P CoreLogic Case-Shiller 20-city price index was up a record 21.2% year over year while the federal government’s price tracker climbed 19% in the same span. The Case Shiller index rose 3.1%…
Read more

Increasing Number of Sellers Drop Asking Price

Price drops are increasingly common, particularly in hot migration destinations, according to a new report from Redfin. In Florida, the study found that one out of three Cape Coral sellers dropped their price this April compared to only 18.5% in April of 2021. Of the 11 Florida cities included in the study, Cape Coral topped…
Read more

After You Sell Your House, Make Sure You Do These 10 Things

1. Keep copies of all paperwork related to the closing and settlement after you sell your house Although it might be tempting to shred the paperwork or put it in storage, you’ll want to have it handy for April 15. When you file your taxes, you’ll need documentation for the expenses and proceeds of the…
Read more