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
Since bank wires remain the preferred method of closing escrow on a real estate transaction, the best protection is to be overly cautious. MIAMI – Question: I am buying a house and have been warned about the various scams, especially those involving wires. I spoke with the closing agent, and they will not accept a … Read more
The restoration effort in the Everglades is the largest hydrological restoration project ever undertaken in the U.S and aims to improve the water supply and increase flood protection. MIAMI – When Steve Davis jumped out of the airboat and into the water in the middle of the Everglades, it rose to just below his waist, … Read more
Success in the luxury market isn’t just about confidence and who you know. The best agents understand the market and the industry. NEW YORK – Real estate professionals have their own networking and lead generation strategies, but most believe that they can “will” their luxury market success into being – whether that means following up … Read more
The Miami-Dade mayor said she will ask voters in November to approve $2.5 billion in property tax backed bonds to build much-needed affordable housing. MIAMI – Affordable housing in Miami is hard to find. Home prices rose 11% as of November 2023, according to CoreLogic, and a University of Florida housing analysis showed the Miami-Dade … Read more
Federal investigators analyzing the 2021 Surfside condo collapse said they think there is conclusive evidence that a pool deck collapsed before the tower. A final report won’t be ready until 2025. FORT LAUDERDALE, Fla. – A federal probe into the June 2021 collapse of a Surfside condo tower that left 98 people dead continues to … Read more
MIAMI — South Florida saw the highest number of condominiums selling out to developers since the pandemic. More buyouts are in the pipeline, raising questions about the future of South Florida’s skyline. Miami-Dade and Broward saw 18 condo buyouts last year, the highest number since 2019 when both counties had a total of 23 buyouts, … Read more
The percentage of Hispanic and Black homeowners in Miami-Dade and Broward counties has decreased as home prices have increased. MIAMI – Since 2012, there are fewer Black and Hispanic homeowners in Miami-Dade and Broward counties, the latest U.S. Census Bureau data shows. The Census Bureau said there were 983,509 occupied Miami-Dade County residences in 2022, … Read more
CONYERS, Ga. – There are nine income tax-free states scattered across America. While tax-free income seems like paradise at first glance, it’s still important to understand the tax structures within these states are like a complex jigsaw puzzle. States still need to function, so some of the revenue puzzle pieces include sales tax, property taxes, and … Read more
IRVINE, Calif. – Attom has released its fourth-quarter 2023 U.S. Home Equity & Underwater Report, which shows that 46.1% of mortgaged residential properties in the United States were considered equity-rich in the fourth quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market values. … Read more
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