In Fla., cash sales dropped year-to-year in only one metro: Fort Lauderdale. The percentage of cash sales ranged from 38.2% in Tampa to 49% in West Palm Beach. SEATTLE – Just over one-third (34.1%) of U.S. home purchases in September were made in cash, up from 29.5% a year earlier and the highest share in … Read more
FORT LAUDERDALE, Fla. – The one-two punch of the post-Surfside law designed to require condominium associations to set aside sufficient reserves for structural repairs combined with Florida’s unending increases in insurance costs is threatening to produce a wave of foreclosures. “People are going to be losing their homes. Foreclosures are increasing,” warned Broward County Commissioner … Read more
Albany, N.Y., homes went under contract in 8 days in Sept., followed by Rochester (9) and Grand Rapids, Mich. (9). In 8 Fla. metros, it ranged from 25-58 days. SEATTLE – The U.S. supply-demand balance for real estate has shifted over the past year. In Albany, N.Y., the typical home sold in September went under … Read more
Census Bureau: Fla. and Arizona welcomed more relocating Californians last year as Texas numbers dropped. In 2021, 37K moved to Fla.; in 2022, it grew to 50K. ORLANDO, Fla. (AP) – The number of former Californians who became Texans dropped slightly last year, but some of that slack was picked up by Arizona and Florida, … Read more
In Fla., median income is less in six metros and higher in three, ranging from an $88.7K yearly income in Lakeland (up 13.4% year-to-year) to $143K in Miami (up 33.4%). SEATTLE – The average U.S. household must earn $114,627 to afford a median-priced U.S. home, up 15% ($15,285) year-to-year and more than 50% since the … Read more
Most buyers or current owners considering a remodel don’t know how to do the work or who to trust with the task. To start, check licenses, credentials and public records. FORT LAUDERDALE, Fla. – Question: We need a larger house for our growing family. Considering the price of houses lately, we decided to remodel and … Read more
FORT LAUDERDALE, Fla. – Home insurance costs in Florida are unlikely to fall even as reforms enacted by the state Legislature last year drive down litigation rates, a national insurance analyst predicted in a newly released report. The report by Karen Clark & Company, titled “Managing Expectations: Why Florida Homeowners Insurance Premiums Are Not Likely … Read more
Climate Alpha uses AI to identify those Fla. cities with the least risk from flooding. For overall storm risk, Ocala is No.3 behind Lake City and Tallahassee. NEW YORK – The National Oceanic and Atmospheric Administration reports that 40% of U.S. hurricane landfalls occur in Florida – significantly more than any other state. But some … Read more
An apartment building was converted to condos decades ago, and a recently discovered problem arose: Some electrical connections serve two different owners. What now? FORT LAUDERDALE, Fla. – Question: I live in an apartment building that was converted to condominiums decades ago. Given the age of the building, many unit owners are doing extensive upgrades. … Read more
A condo-wide A/C unit went down, and it gave residents a window unit while awaiting repairs. Should residents also get reimbursed for the cost of electricity? FORT LAUDERDALE, Fla. – Question: Air conditioning is included in our condo’s monthly maintenance fees. The chiller that cools the entire building stopped working on July 20, and we … Read more
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