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What’s Up With Housing?

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J.D. Power survey: Overall satisfaction with homeowners policies is at an all-time high, but too few people understand what their policy does/does not cover.
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“This place has good bones”: Home buyers are apt to hear this phrase when they’re touring homes. But what does that mean, exactly?
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Described as a collision of rich blue with jewel-toned green, a color that is both accessible and elusive.
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The newly proposed tax plan includes such things as increasing the standard deduction.
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A mortgage with no down payment seems a little bit like scoring a buy-a-home lottery ticket. You get a home loan and keep more money in your pocket.
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What’s Up With Housing?

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Homeowners in Florida are finding that homes built to the stricter building codes seem to have fared better during Hurricane Irma.
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NAR’s Call for Action ended Friday. While NAR initially hoped to pass a comprehensive flood bill that lasted years, Harvey aid and Irma’s impending threat last week convinced Congress to postpone major changes. NFIP now expires in December.
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Florida’s housing market continued its positive track in August, with more closed sales, increased pending sales, more new listings and rising median prices.
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FHA loans require a post-disaster inspection in declared catastrophe areas, but a rule that could delay closings has been waived.
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PRO LogoPinellas County Real Estate Statistics for August 2017
Here’s the Stand-Out Stat for August 2017: Median Time to Sale for Single Family Homes was 63 days down 13.7% from 73 days in August 2016.
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Now that the “big one” has finally happened how can you protect yourself?


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What’s Up With Housing?

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The bill working its way through Congress has “significant improvements,” including a commitment to protect current owners from substantial rate increases.
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For the sixth consecutive month, May home prices venture into record territory.
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The CFPB recently loosened rules, and agents now have easier access to the closing disclosure providing certain private information is removed. However now, as before, the lenders decide how to handle it.
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According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment.
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For the second time in six weeks, a company connected to the same lawyer stood poised to profit from a Pinellas County foreclosure auction that confused even experienced real estate investors.
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It’s cheaper to rent than own a home in 11 states, but Florida’s average monthly rent, $1,543, is still higher than the cost of an average monthly mortgage: $1,376.


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What’s Up With Housing This Week?

 

Millennials May End Up Competing with Baby Boomers in Housing Market.
These two groups make up different segments of the home buyer market but they are searching for similar things.
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Kitchen Remodeling TrendsThinking About Remodeling Your Kitchen?
Homeowners generally wanted new flooring, countertops, cabinets, sinks, and faucets when they had their kitchens remodeled, says a new report.

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Flood InsuranceShould Congress raise the cost of flood insurance? How much?
The National Flood Insurance Program expires Sept. 30 and is $25 billion in debt. NAR has made flood insurance renewal a top priority, and lawmakers are now considering some dramatic program changes to keep it solvent and operational.

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Low Mortgage Rates30-year mortgage rate falls below 4%.
Long-term U.S. mortgage rates fell this week to their lowest levels of the year: 3.95%.
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Housing’s Clean Bill of Health…
All things considered, the state of the housing industry right now is pretty good.

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http://www.TitleSecurityFL.com

 


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What’s Up With Housing This Week?

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Flood InsuranceNeed Flood Insurance? It Expires in 6 Months.
On Sept. 30, the national flood insurance program officially ends, which could create a dilemma for homeowners and buyers. The National Association of REALTORS® is working with federal regulators to extend and improve the program, but challenges lie ahead.

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Labor ShortageTampa Bay contractors expect uptick in projects but scarce labor…
81% of contractors in Hillsborough and Pinellas counties anticipate an uptick in sales over the next six months, but just under 23 percent are confident they can find labor to complete projects.
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Florida Consumer ConfidenceConsumer Confidence Among Floridians Rises to 15-year High.
Florida Consumers last month were the most confident that they have been since 2002, long before the onset of the Great Recession triggered a prolonged slump.
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Mortgage Rates FallThe Average 30-year Mortgage Rate Falls to 4.10%.
Long-term U.S. mortgage rates fell for a 3rd straight week and are approaching low points for the year. Most experts predict rates will remain steady.

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Homebuyers and SustainabilityBuyer Interest in Sustainability is Rising.
More than half of Realtors find that consumers have interest in real estate sustainability issues and practices. As this interest grows, Realtors understand the necessity of promoting sustainability in their real estate practice, such as marketing energy efficiency in property listings to home buyers.

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http://www.TitleSecurityFL.com


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Recent Housing News

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Housing Market Still PositiveKeep Calm and Keep Buying Homes…
From a housing economist’s perspective, the prospects for the U.S. residential real estate market still look good after last week’s surprise election results.

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2017 Real Estate TrendsReal Estate Trends to Watch in 2017.
In addition to the commercial use of drones and how the President-Elect Donald Trump may impact the real estate market, many millennial buyers may skip the starter home and purchase a move-up home instead in 2017.
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55+ Housing Needs55-Plus Residents Are Not All the Same.
Older adults don’t just fall into one amorphous demographic blob; they have distinct housing-need differences that builders need to address in their design and location of 55-plus communities.
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Florida Association of Realtors86% of buyers don’t have a clue what a CLUE report is.
If a seller made multiple property insurance claims, buyers could end up paying surprisingly higher premiums – but only 12% request a CLUE report.
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Smart Homes5 Smart Homes Using Connected Tech in Different Ways
Everyone has a different need for smart home technology. This round-up offers up a few examples for different types of buyers.

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Rising RentsRising Rents Could Be the Real Reason People Can’t Save…
“The rent is too damn high” is more than a political slogan; it reflects the harsh reality of unaffordable housing in America today.

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