Nationally it’s 13%, but in Fort Lauderdale it’s 28% – the highest in the U.S. In Miami, a first-time buyer needs to earn 25% more than they did a year ago. SEATTLE – A first-time homebuyer must earn roughly $64,500 per year to afford the typical U.S. “starter” home, up 13% ($7,200) from June a … Read more
A prospective buyer of a renovated home worries that an “as-is” contract may release the seller from not-yet-discovered problems. Should they sign it? FORT LAUDERDALE, Fla. – Question: We are looking to purchase our new home from a real estate renovator who bought it last year and fixed it up. The contract has a lengthy, … Read more
A man with a good job failed to qualify for a home loan because he has bad credit. What are the pros/cons if his less wealthy, creditworthy girlfriend cosigns? FORT LAUDERDALE, Fla. – Question: My long-term boyfriend has lousy credit but makes a good living and wants to buy a house and stop renting. I … Read more
The 30-year mortgage rate moved closer to the 7% range, but most experts still predict wobbling rates in the upper-6% range. FORT LAUDERDALE, Fla. – With home prices in South Florida still on the rise, the ebb and flow of mortgage rates is making the market tricky for buyers and sellers. Mortgage rates reached 6.9% … Read more
If a Broward County homeowner signs up for “Owner Alert,” they’ll receive a text message any time a deed is filed on their property claiming ownership. FORT LAUDERDALE, Fla. – With no time to spare, Broward homeowners who want instant alerts of any change in their property status to guard against fraud can now sign … Read more
A leaky toilet damaged the condo below, in part because it took the upstairs neighbor a long time to fix. Now he refuses to reimburse about $1,000 in damages. What can the downstairs neighbor do? FORT LAUDERDALE, Fla. – Question: The upstairs neighbor in my high-rise condominium had a leaking toilet, and the water damaged … Read more
Transportation drives growth but transit growth also drives housing. Home values near a S. Fla. transit rail station are appreciating faster than those farther out. MIAMI – Home values for properties near South Florida’s expanding rapid transit rail system are appreciating faster than other homes in the region. The privately-owned rail service Brightline opened stations … Read more
FORT LAUDERDALE, Fla. – The 2022 hurricane season was a harsh teacher. Not because of the number of storms – it was a fairly average year – but because of the tricky nature of the two storms, Hurricanes Ian and Nicole, that hit Florida. The big lesson to learn from 2022? Experts say it’s to … Read more
Census Bureau: Orlando was No. 5 for growth in 2022, adding 65K new residents, but overall city growth was muted as the pandemic pushed people to rural areas. ORLANDO, Fla. (AP) – The flight from urban areas that took place during the first year of the pandemic either reversed or slowed in its second year, … Read more
A free June 9-11 event in Washington will feature some outside-the-box affordable housing solutions. Two Fla. companies are exhibitors; some events will be online. WASHINGTON – U.S. Department of Housing and Urban Development (HUD) and National Association of Home Builders (NAHB) announced new details regarding the Innovative Housing Showcase, including the first round of exhibitors. … Read more
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