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
Homeowners with mortgage rates too low to give up aren’t listing their homes, pushing buyers to the new-home market – an economic boon for builders. NEW YORK – High interest rates are actually making new homes easy to sell by compounding a shortage of available real estate. Existing home sales have slowed because fewer owners … Read more
Why do long-time homeowners rent when they can afford to buy? For more and more older adults, it’s simple: less responsibility with more money to spend. PLACERVILLE, Calif. – Jack called me last week to say he and his wife Jill wanted to sell their home in El Dorado Hills. They have been longtime friends … Read more
Politics can hurt home sales if a neighbor’s yard flag pushes views offensive to a potential buyer – but flags can help if buyers agree. SEATTLE – People buy homes in neighborhoods, and the area surrounding a property listing carries a lot of weight with buyers who hope to fit into their new community. A … Read more
People need a roof over their heads, making “home” a life necessity – and also, on the side, a good investment. As a result, buying sooner is better than later. DAVENPORT, Iowa – For the vast majority of Americans, their home is their greatest lifetime investment. But as in all investing, timing is everything. The … Read more
UF’s June consumer sentiment saw an uptick to 69.3 from May’s 69.1, driven mainly by U.S. economic expectations. It’s the highest reading since Oct. 2021. GAINESVILLE, Fla. – Consumer sentiment in Florida clicked up for a second consecutive month in June to 69.3, an increase of two-tenths of a point from a revised figure of … Read more
On July 1, a Fla. sales tax exemption period began for Energy Star appliances, but there’s no rush to buy: It runs for a full year, through June 30, 2024. TALLAHASSEE, Fla. – Florida’s latest sales-tax holiday start on Saturday, July 1, and this one runs for a full year – through June 30, 2024. … Read more
Florida Realtors lawyers spoke to 6K+ members during a July 29 webinar, saying a new law impacting some property sales to certain foreign buyers goes into effect July 1. Some details are not yet clear, but a new disclosure will appear in FR/Bar, CRSP and other contracts on Sat., July 1, and buyers must sign … 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
Buyers can now describe their dream home to a computer. You won’t be replaced by AI, says one broker, you’ll be replaced by people who use AI better than you. LAS VEGAS – Artificial intelligence (AI) will play a bigger role in helping consumers buy and sell homes, as it moves from behind the scenes … Read more
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