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What’s Up With Housing?

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An FHA loan with a low down payment can be a lifesaver; but, as one newbie home buyer discovered, it isn’t all smooth sailing.
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Only Gen-X Household Wealth Has Recovered Since the Housing Crash.
The generation that lost the most is the fastest to bounce back, with median net worth up 115% since 2010.
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Simple advice – buy a home and pay off your mortgage early so that you can retire sooner with the money you will have saved!
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If boomers see the pool of buyers shrinking and home-price increases slowing, will they decide it’s time to cash in and downsize? And if they do, will the market be flooded with listings? Some economists think that things could change quickly.
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In cities nationwide, home prices are at or above their pre-recession levels. It’s no bubble, but that doesn’t mean a drop isn’t coming.
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How does housing impact the health and well-being of its residents? What responsibility does housing have to its occupants, and how is it changing? [VIDEO]

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What’s Up With Housing?

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Owning a home has always been, and will always be, better from a financial standpoint than renting.
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Second cut to state’s biz rent tax in as many years takes effect Jan. 1, 2019. Combined with last year’s cut, some Florida businesses will be saving nearly $100M each year.
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12% of millennials surveyed cited “rising rents” as the trigger that sparked them to become homeowners, while 17% said family needs; for 55+ buyers, 20% said privacy. Overall, 44% want a three-bedroom home, and 93% want at least two bathrooms.
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A new report from a federal watchdog finds that the Federal Housing Administration incorrectly insured approximately 9,507 borrowers who were actually ineligible.
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This marks seventh-consecutive month of home price increases nationwide.
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Every year that passes, the more population patterns are starting to look like the old sprawling dynamic serving suburban and exurban demand.


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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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Interesting Housing News

Realtors: Please join us at next Tuesday’s 9:30 AM Coffee Corner, and learn exciting new ways to grow your business in 2016.

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Pantone's 2 colors for 2016Pantone’s 2 colors for 2016…  Rose Quartz, a “warmer, embracing rose tone” and Serenity, a “cooler, tranquil blue” are intended to demonstrate balance by reflecting connection, wellness, and peace.

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Downtown St Petersburg Multi-FamilyAnother 366 Apartments Expected to Break Ground This Month in Downtown St Petersburg.

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Smart Home AutomationSmart: Myth Vs. Reality for Home Tech and Automation… 2016 is being hailed as the year that our homes truly enter the high-tech future, and all that talk about the “Internet of things” becomes more than just blather.

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FARIt took longer to close a home loan in November… is TRID the culprit?  VA loans closed in an average 50 days while conventional loans took 49 days. According to NAR, almost half of all Realtors are reporting longer closing times.

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Will the FHA Play an Encore on MIP Cut?Will the FHA Play an Encore on MIP Cut?  If the FHA drops the annual MIP again it will attract hordes of new borrowers who will instantly pay 1.75 percent of their loans into the program in the form of the up-front MIP.

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http://www.TitleSecurityFL.com

 


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Recent Housing News

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TS August 4 2015 Coffee CornerPlease Join us August 4th for the latest CFPB information regarding the new October settlement rules.
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FHA LoansIs this what will push millennials into the housing market?
Reduction of private mortgage insurance for FHA loans may be creating more first-time home buyers.

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Millennial Housing PreferencesMillennials prefer walking to driving …so housing in mixed-use neighborhoods with transit access appear to have an edge.

 

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Urban FarmsGreat Concept…
Bringing the grow-it-yourself movement to the city.  The emphasis is on food activities, with a community garden atop one roof, a 20-foot-long harvest table for produce to be set out, and a demonstration and tasting kitchen where area chefs can show off their skills for tenants.

 

http://www.TitleSecurity.net