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What’s Up With Housing?

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Millennials still show a preference for conventional loans. In Sept., 68% of all loans were conventional; 27% FHA and 2% VA, reports Ellie Mae, which says the industry should “educate these buyers on the options… available to them.”
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As home prices rose in the years before the Great Recession, complaints about a shortage of “workforce housing” became common in many communities throughout Florida. Those complaints are back again, with a vengeance. In most fast-growing areas of Florida — particularly in South Florida and Orlando — housing affordability for low- and moderate-income workers is a bigger issue than ever.
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The federal government’s clampdown on dirty money in luxury real estate markets in South Florida and other metropolitan areas is ramping up.
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Stackable apartments. Robotic valets. Infrared spas. The future has arrived, haltingly, and this time will be different. Maybe.
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Want to retire comfortably? Millennials should buy a home now, finds a ULI study. Those who postpone a purchase now to save money end up losing out later, because buying young nets a “big bang for the housing buck.”
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The 2018 Houzz Bathroom Trends Study finds homeowners are opting for showers over bathtubs in their master suites. And over half (56%) of baby boomer homeowners are addressing aging-related needs during master bathroom renovations.
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For the second consecutive month, sales and prices showed healthy year-over-year gains in October, with Pinellas County recording its biggest price jump — 13.3 percent — since January.
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What’s Up With Housing?

Despite a shortage of available homes, many Tampa Bay sellers are getting a rude awakening when the sign goes up but no offers come in.
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Cerberus Capital Management is said to be raising over $500 million to buy single-family rental homes. Amherst Holdings is planning to raise $1 billion to buy single-family homes and rent them out.
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There are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we experienced 10 years ago and are starting to believe that we may be doomed to repeat ourselves.
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The Aug. Consumer Confidence Index rose to 133.4 – its highest level since Oct. 2000; both current outlooks and future expectations rose more than 5 points.
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Is your bathroom draining the good energy from your home? Restore the balance, and fix these feng shui faux pas—fast.

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What’s Up With Housing?

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It’s been 10 years since the Great Recession, but most home prices in the Tampa Bay area still haven’t reached their pre-recession peak, according to numbers released by Zillow.
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The CFPB had about 1,200 reverse-mortgage consumer complaints over 3 years. People cited “confusion and frustration over the terms” and loan-servicing problems.
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Home buyers young and old want high-tech features in their homes. Across the board, and across the generations, security and convenience are of primary interest.
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Despite rising prices, Tampa remains one of the best cities in which to flip houses ranking 10th among 172 cities compared on such metrics as median purchase price and average remodeling costs.
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The Senate approved a bill this week, and the president signed it, to keep the National Flood Insurance Program operating for 4 more months.
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Young People Don’t Want Construction Jobs…
Disinterest in construction work is contributing to a labor shortage that has meant fewer homes built and rising prices—possibly for years to come.
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What’s Up With Housing?

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Affordability and inventory is bleak, but rising interest rates and home prices signal a strong economy.
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The Pinellas real estate market is continuing to see a trend of higher sale prices and a shrinking inventory for both the Single Family and Townhome/Condo segments. The Median Sale Price for Townhomes/Condos was up 14.4% in March 2017. The Median Sale Price for Single Family Homes was up by 8.7% from last year.
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If consumer spending is the grease that moves an economy, the U.S. should keep growing for at least the next six months – the number of survey respondents who expect a loss of income over that timeframe hit an 18-year low.
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More wealthy people seem interested in a Fla. home – and the state’s lack of an income tax – now that the IRS caps local and state tax deductibility at $10,000.
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Public art can spark revitalization in struggling neighborhoods and turn vacant land into a place where people want to live, work and play.


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What’s Up With Housing?

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Disney isn’t renowned for pioneering in real estate development but this has actually been at the heart of its parks and resorts strategy for decades.
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April is Florida’s prime selling month, so if you’re putting your home on the market consider this: Cleaning and decluttering can improve the looks of a house but sometimes it takes more than that to really wow buyers.
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According to a new ASLA report, homeowners want to do yoga in their sustainably designed backyards or shared outdoor spaces—while their phones are charging nearby.
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A do-it-yourself home kit arrives on flatbed trucks and even includes nails, so landowners can save on construction costs if willing to invest sweat equity.
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While white and gray continue to dominate, homeowners are opting for more innovative appliances, technologies, and more.


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Title Security Begins Closings at JMC Communities’ New Belleview Place Condominium Project

Belleview Place Carriage Homes

St. Petersburg, Fla. – (April 18, 2018) – Title Security has closed the first building of Carriage Homes at JMC Communities’ Belleview Place in Belleair, Florida. Title Security has had a long and successful relationship with JMC, having closed approximately 2,550 condominium homes for them throughout the Tampa Bay area. Most recently, Title Security handled all closings for JMC’s Ovation, Rowland Place and Victoria Place along with Clearwater Beach’s Sandpearl Residences and Suites.

Since 1983, Title Security has been providing comprehensive title and escrow services throughout the Tampa Bay area. “The Title Security team has continued to provide our homebuyers with a friendly and accurate closing experience, and we are very grateful to be working with such a professional group,” stated Mike Cheezem, Owner/CEO, JMC Communities. Belleview Place will begin closings on their first phase of condominiums in June.

Title Security Chairman, Harvey Ford said, “The JMC organization has always stood for integrity and quality… we are very grateful to be associated once again with one of their fine communities.” Ford continues, “Belleview Place will meet Belleair’s growing desire for a well conceived, value conscious residences with a thoughtful nod to the town’s important history.”

About Title Security

Title Security is a full service title insurance company, enthusiastically handling each aspect of the closing process. From securing a clear title, to fulfilling lenders’ many closing requirements, to facilitating the document preparation and settlement statement, Title Security creates smooth, hassle-free closings for all parties involved. For additional information, visit www.TitleSecurityFL.com.

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What’s Up With Housing?

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Spring Forward! 7 Ways to Make the Most of This Weekend.
Wild birds, Pi Day or an extra hour of daylight in the evening — which of these pre-spring pleasures tops your list?
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Many home sellers worry that they could be selling their home too soon, losing out on thousands of dollars. Here’s a reality check to help you cope.
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Project Destined teaches kids how to value and finance local apartment buildings, and then given the opportunity to share in real profits from those properties.
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Nine Florida metropolitan areas, including the Tampa-St. Petersburg-Clearwater metro, ranked in the top 20 metros nationwide for consumer reports about fraud in 2017.
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“We are concerned with the recent increase of loans that have debt-to-income ratios exceeding 45%.”
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It’s getting harder to find areas with a healthy balance of affordable home prices, low competition and strong growth prospects.