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What’s Up With Housing?

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The latest County numbers are in for June and they show that the market continues to hold strong, including the highest Closed Sales figure for the Single Family Homes segment since at least 2009.
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Instead of dormitory-style buildings, flexible mass-produced housing pods might offer a way to sidestep zoning code barriers and get people off the streets.
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What do Americans click most on home remodeling websites? Currently, they’re drawn to modern, high-end finishes, spa-like bathrooms and chic industrial features.
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Once in the top five nationally for foreclosure filings, the Tampa Bay area no longer makes even the top 25.
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Lower Mortgage RatesMortgage rates drop below 4%.
After two weeks of increases that took the 30-year fixed-rate mortgage to 4.03%, it dropped back this week to an average 3.96%.
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What’s Up With Housing?

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Icon ResidentialIcon Residential to Open Two New St. Pete Infill Communities.
Floorplans range from 1,400 to 2,600 square feet and start in the $300Ks.
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Can This Crowdfunding Platform Help Build The Kind Of Houses Millennials Want To Buy?
And even if it can–is that the fix urban housing really needs?

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As home prices continue to rise, what will $215,000 get you across Tampa Bay?
Continuing a remarkable run with no end in sight, prices for single family homes in the Tampa Bay area jumped again in May compared to the same month a year ago.

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Active DesignDesigning for Health and Wellness: The Next Great Challenge
We have Sustainable Design to conserve our resources and Resilient Design to protect us from the changing environment. Now Active Design is coming to make us healthier.
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Builders Eye Converting Strip Malls Into Homes
With more home buyers looking for an urban lifestyle, some builders are targeting aging office buildings or defunct car dealerships for development.

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Pinellas County Real Estate Statistics for May 2017
Pinellas County’s closed sales, new pending sales, and new listings all increased from May 2016.

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http://www.TitleSecurityFL.com


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What’s Up With Housing This Week

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Pinellas Realtor OrganizationPinellas County Closed Sales for Single Family & Townhome/Condo Combined were up year-over-year:
There were 1,543 closings in January 2017 vs. 1,314 in January 2016… UP 17.4%

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Jim CramerHousing Industry Sees a ‘Cumulative Wealth Effect’.
Jim Cramer says the best investment may be close to home. The increased home equity isn’t being spent on a new car or a new iPhone, it’s going into the home.  i.e. Home Depot
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Closing CostsOver Half of All Buyers Are Surprised by Closing Costs.
Speak with your lender and agent early and often to determine how much you’ll be responsible for at closing. Finding out that you’ll need to come up with thousands of dollars right before closing is not a surprise anyone is ever looking forward to.

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Florida Association of RealtorsDon’t Do These 4 Risky Mortgage Moves.
Buyers excited about purchasing a new home sometimes sabotage their final loan approval by changing jobs, applying for credit or moving money around.

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Ben Carson HUDBen Carson confirmed as U.S. Department of Housing and Urban Development Secretary.
The Senate voted 58-41 to confirm Carson Thursday morning.

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Mortgage RatesMortgage Rates Impact on 2017 Home Values.
Most experts believe that rates would need to hit 5% or above to have an impact on home prices.
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http://www.TitleSecurityFL.com


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Housing News of Interest

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Pinellas Realtor OrganizationPinellas County Real Estate Stats: August 2016
As summer starts to transition to fall, we continue to see the market heating up. This past month has shown us some hot stats and we are excited to share some of the highlights of the Pinellas County Housing Market.

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New HomesDon’t Fall Prey To Conventional Housing Market Wisdom.
There are people who are still devoted to getting our nation into the same housing predicament that led to the housing market collapse and the Great Recession. Don’t believe the hype.

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Mortgage FraudMortgage fraud rising most in low-downpayment loans.
Mortgage fraud is slightly on the rise right now, so it’s an area industry experts say needs a close watch because it takes a long time to uncover.
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Skyway Marina DistrictRebuilt 55,000 SF Publix highlights new retail options coming to St. Petersburg’s Skyway Marina District.
For shoppers missing their neighborhood Publix near the Sunshine Skyway bridge and Pinellas Bayway, the wait is almost over.
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Negative EquityThe ‘new housing crisis’ is already slowly being solved.
Negative equity is improving even in the states that suffered the most in the housing crash.
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Condo LegislationChallenge Remains for FHA Condominium Financing.
HUD released rules on condo financing that could open up more Florida units to first-time buyers, but NAR says a still-high owner-occupancy threshold needs work.
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http://www.TitleSecurityFL.com