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What’s Up With Housing?

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Zillow maintains that more than half the homes it lists sell within five percent of the home value “Zestimates” it gives for them. The Tampa Bay Times looked at 20 houses for sale on both sides of bay to see if that held up.
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People tend to be too optimistic about rental rates, vacancies, management fees, maintenance costs and home value increases.
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With so many generations to serve in Florida’s increasingly attractive housing market, how can developers be sure their product supply will appeal to their target audience?
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The federal consumer bureau says it’s okay for lenders to share buyers’ Closing Disclosure with agents, and it’s announcing soon the how-to-do-it details.
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Report: The number of homeowners (about 1.8M) who still owe more on a mortgage than their home’s current value has hit its lowest point since 2006.
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What’s Up With Housing This Week?

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Please Save This Date:  April 25th, 9:30am Coffee Corner — How to Read and Understand a Title Commitment

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ALTATitle companies want federal help to fight wire fraud.
The title association says it has warned buyers about scammers who steal closing money – but it’s not enough. It’s asking the U.S. consumer bureau to help.

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Vacation HomesVacation Home Sales Take a Dive
Higher prices, lower inventory drive market down sharply.  “With fewer bargain-priced properties to choose from and a growing number of traditional buyers, finding a home for vacation purposes became more difficult and less affordable last year.”
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Can Waiting to Save for a 20% Down Payment Cost Homebuyers Money?
2 out of 5 potential buyers think they need a 20% downpayment. They don’t. But what’s a good savings goal? A new calculator helps show potential buyers it’s not out of reach.

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Mortgage lenders are optimistic about 2017.
Survey: Independent lenders believe Gen X and millennials offer growth opportunities. They expect more jumbo loans and buyers who plan to make rental money.

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Large HomesAre Large Homes Damaging the Character of St Petersburg Neighborhoods?
St. Pete staffers are considering major changes to its zoning rules to protect its bungalow-style neighborhood from being crowded out by larger homes.
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http://www.TitleSecurityFL.com


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Interesting Housing News

 

Independence Day

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Quicken LoansDid you know that Quicken Loans now offers 1% down mortgages?
They’ve been flying under the radar with its 1% down mortgage, which it began nearly six months ago.
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Florida Association of RealtorsHave a Lower Credit Score?  Apply For a Mortgage.
It seems illogical: Lenders say they’ll now approve loans to buyers with lower credit scores, but the average score of people actually approved continues to rise.
There’s no reason to be a no-show in the home purchase market if you know where to target your application.
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BREXITBREXIT: What’s the FIXIT for U.S. Home Buyers and Sellers?
The UK’s exit from the EU almost certainly guarantees interest rates will remain low (and possibly go lower) over the next few months. The cost of money may never be better for a potential buyer.
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Vacation Home BuyersWhy 2016 could be the year Canadians start buying more US vacation homes…
Home prices are rising faster in Canada than they are in the US, and the National Association of REALTORS® says more Canadian buyers will snap up stateside vacation properties as a result.
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Rent or Buy?The Age Old Question: Rent or Buy?
Potential home buyers must decouple “investment” from “consumption” in order to make the best decision for themselves.

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http://www.TitleSecurityFL.com