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What’s Up With Housing?

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The National Flood Insurance Program did not expire last Fri. as feared, but Congress extended it for only 2 weeks. Its new expiration date: Dec. 22, 2017.
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Thinking about buying your first home? Before you can unlock the door to homeownership, you have to take some important first steps. From finding the perfect location to financing your purchase, shopping for your first home has challenges that go beyond curb appeal and interior features.
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80% of millennial renters want to buy a home, yet most say they can’t afford it. However, there are ways to get around that problem.
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Some home flipping wisdom for investors who want to make sure they are keeping sharp when it comes to effectively — and profitably — flipping homes.
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Tampa Bay has seen two booms in house flipping – one in the mid-2000s, when prices headed steadily upward, and again from 2011 to 2014 when the market was flooded with cheap foreclosures. But in the three months ended in September, area flippers made an average gross profit of 54.5%, a drop from 66.5% in the same period a year ago.
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What’s Up With Housing This Week?

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Student HousingStudent Housing Sales Outperform the Rest of the Market.
Commercial real estate investors are increasingly keeping their wallets in their pockets, waiting to see where interest rates will go, for prices to come down and for more properties to come on the market. That’s happening in almost every sector, except for student housing.

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30 Ways to Upgrade Your Home Without Blowing Your Budget.
Everyone wants to turn their house into their dream home, but that’s often easier said than done.

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National Association of Home Builders logoBuilder Confidence Rises in May
NAHB index at second-highest level since the mortgage crisis. “This report shows that builders’ optimism in the housing market is solidifying, even as they deal with higher building material costs and shortages of lots and labor,” said NAHB Chairman Granger MacDonald.

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New Home ConstructionThe #1 Answer to the Housing Shortage: New Construction.
There is a drastic need for a larger supply of home inventory to meet the skyrocketing demand. Builders are now doing their part to help rectify this situation.
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First Time BuyersHousing Readies for First-Time Buyer Shift…
In the first quarter of 2017, the number of new-owner households was double the number of new-renter households.
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http://www.TitleSecurityFL.com

 


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What’s Up With Housing This Week?

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34th Street CorridorDevelopers Say St Pete’s 34th Street Corridor is Brimming with Economic Potential.
In the past, this thoroughfare has long been known as a busy yet unappealing stretch of commercial roadway.

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Rising Home Prices2 Out of 3 Buyers Believe Home Prices Will Rise
A Gallup poll finds that 61% of U.S. adults expect home prices to continue rising over the next six months – a new high for the annual survey.
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Housing Bubble? No!3 Reasons the Housing Market is NOT in a Bubble…
Mortgage lending standards are appropriate, new construction is below what is necessary and home prices haven’t even recovered. It appears fears of a housing bubble are over-exaggerated.
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Tesla's Solar Roof TilesTesla’s Solar Roof Tile Systems Hit the Market
The company is taking $1,000 deposits on the virtually “invisible” systems, which it will begin installing next month.The company offers an “infinity” warranty on its tiles that integrate solar power into roof coverings. Tesla has published a web tool that can estimate costs and savings.

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First-Time HomebuyersTampa Bay is Nation’s Second Best Metro for First-Time Homebuyers.
For first- time homebuyers, you can’t beat the Orlando and Tampa Bay areas. Despite steadily rising prices, both are relatively affordable compared to the West Coast and Northeast at a time when nearly half of all buyers are first-timers.
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Did You Know That Homeownership Can Impact Your Family’s Health?

The Impact of Homeownership on Family Health

People often talk about the financial benefits of homeownership. But you will see that there are also social benefits of owning your own home.

The National Association of Realtors recently released a study titled ‘Social Benefits of Homeownership and Stable Housing.’ The study confirmed a long-standing belief of most Americans:

“Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the basis for a number of positive social, economic, family and civic outcomes.”

Here is the section of the report that quoted several studies concentrating on the impact homeownership has on the health of family members. Here are some of the major findings on this issue revealed in the report:

  • There is a strong positive relationship between living in poor housing and a range of health problems, including respiratory conditions such as asthma, exposure to toxic substances, injuries and mental health. Homes of owners are generally in better condition than those of renters.
  • Findings reveal that increases in housing wealth were associated with better health outcomes for homeowners.
  • Low-income people who recently became homeowners reported higher life satisfaction, higher self-esteem, and higher perceived control over their lives.
  • Homeowners report higher self-esteem and happiness than renters. For example, homeowners are more likely to believe that they can do things as well as anyone else, and they report higher self-ratings on their physical health even after controlling for age and socioeconomic factors.
  • Renters who become homeowners not only experience a significant increase in housing satisfaction but also obtain a higher satisfaction even in the same home in which they resided as renters.
  • Social mobility variables, such as the family financial situation and housing tenure during childhood and adulthood, impacted one’s self-rated health.
  • Homeowners have a significant health advantage over renters, on average. Homeowners are 2.5 percent more likely to have good health. When adjusting for an array of demographic, socioeconomic, and housing–related characteristics, the homeowner advantage is even larger at 3.1 percent.

via Keeping Current Matters


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Recent Housing News

Piggy Bank LoansA Smaller Down Payment, and No Mortgage Insurance Required…  Traditionally, home buyers needed 20% down to avoid the added cost of mortgage insurance. Now there are ways to get around that.

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Modular Row HousesA Modular Take on Row House-Style Residences.  Interesting concept of the cult-classic 1980s video game Tetris forming a structure of individual homes through a system of interlocking blocks.

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Fed Holds RatesFed holds rates, lowers growth forecast…
The Federal Reserve has left interest rates unchanged in response to slowing economic growth and says rate increases will come more slowly than planned.

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Housing Supply3 Reasons It’s Not A Housing Bubble.
Rising home prices and looser credit may make today’s market look like a housing bubble, says NAR’s Lawrence Yun. But it’s different than pre-recession run-ups.
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Housing Inventory CrunchInventory Crunch Likely to Hamper First-Time Buyers.
Spring is a home buying season, but inventory was down 8.2% in January from a year earlier for properties priced below $250,000, according to NAR.

http://www.TitleSecurityFL.com 

 


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Recent Housing News

Millennial HomebuyersMillennials Value Homeownership More Than Older Generations. These Gen Y’s are expected to make a huge impact on the U.S. housing market.

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Urban FarmsCould Urban Farms Be the Preschools of the Future?   A group of architects proposed a new design to help raise environmentally responsible kids.

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Why Homebuilders Aren’t Catering to Millennial BuyersWhy Homebuilders Aren’t Catering to Millennial Buyers…   Experts point to a number of factors, including high levels of student debt, changing family dynamics and a regulatory and economic environment that discourages builders from constructing the smaller-scale, affordable housing that first-time home buying millennials prefer.

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Home Buying BenefitsStudy Again Finds Homeownership to be a Better Way of Producing Wealth…. Buying a home makes sense socially and financially. Rents are predicted to increase substantially in the next year, so consider locking in your housing cost with a mortgage payment now.

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Homebuying TrendsMillennials in the Burbs? You Won’t Believe the Latest Home-Buying Trends.  What’s a millennial pushing 30 to do? Apparently, leave the fun, the fantasy, the pace, and the possibilities of big-city living far behind and buy a home … out in the burbs.

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Off Campus HousingOff-Campus College Dorms Now Resemble Spring-Break Hotels  Investors have poured billions into off-campus housing, building luxury complexes that resemble resorts.
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http://www.TitleSecurityFL.com