MBA reported new home purchase mortgage applications were up 6.2% in March year over year. More first-time buyers appear to be getting into the market. WASHINGTON – Mortgage applications for new home purchases increased 6.2% in March compared to a year ago and 1% compared to a month ago, according to the Mortgage Bankers Association’s … Read more
LOS ANGELES — On a winter morning in Woodland Hills, the “Squatter Hunter” slowly approaches a posh two-story home dressed in all black, armed with a Glock 26 pistol, stun gun, pepper spray and baton. His body camera is on. His two-man squad lurks behind him. They’ve spent four days in surveillance, learning the habits … Read more
MIAMI – A new sugar cube house sits in a slice of Miami called Silver Bluff, a sleepy residential neighborhood between Coral Gables and Coconut Grove. Rising above land on stilts and a roof adorned with solar panels, it stands out in a neighborhood filled with houses surrounded by chain-link fences and pitched rooftops with … Read more
The average rate on a 30-year mortgage rose to 7.1%, the highest level since late November. The average rate for 15-year fixed-rate mortgages rose to 6.39%. LOS ANGELES — Prospective homebuyers are facing higher costs to finance a home with the average long-term U.S. mortgage rate moving above 7% this week to its highest level … Read more
The average Florida home value doubled in six years. Tampa and Miami tied for having the third-fastest price doubling among large U.S. cities. MIAMI – The national median home price is twice what it was ten years ago. Molded by a storm of inflation, tight supply and surging demand, the average home price in the … Read more
A U.S. District Court judge ruled against Florida’s Department of Environmental Protection’s attempt to retain authority over wetland permitting TALLAHASSEE, Fla. — In a case closely watched by business and environmental groups, a U.S. district judge Friday finalized his rejection of a 2020 move by the federal government to shift permitting authority to Florida for … Read more
A cut in the state’s commercial lease sales tax, from 4.5% to 2.0%, will begin on June 1, weeks earlier than originally expected. TALLAHASSEE, Fla. — Business owners will see an earlier-than-anticipated reduction to the state’s lease tax, beginning in June rather than July, state leaders said. Florida’s commercial lease sales tax rate, also known … Read more
Read a special digital supplement of Realtor Magazine with important content that dispels misinformation and myths about the proposed settlement. CHICAGO – Realtor® Magazine, the magazine of the National Association of Realtors®, announced a 16-page digital supplement with valuable resources that help separate facts from fiction about the proposed $418 million settlement agreement to the … Read more
Clint Strauch, president of Florida Peninsula Insurance, says the 2% average rate decrease shows the property insurance market is stabilizing. TALLAHASSEE, Fla. – Pointing to changes made by state lawmakers, Florida Peninsula Insurance Co. on Thursday announced a 2% average reduction in property insurance rates for homeowners. The Boca Raton-based insurer said the reduction will … Read more
Many new homeowners don’t realize the monthly payments on fixed-rate mortgages can go up and down depending on PITI – principal, interest, taxes and insurance. MIAMI – If you have a fixed-rate mortgage, your payments will always stay the same, right? Wrong. Maybe you’ve heard the term PITI, which stands for the main components of … Read more
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