FORT LAUDERDALE – The situation for hopeful homebuyers in South Florida has long been bleak — and it’s not projected to improve any time soon. Although the region is likely at the peak of its housing cycle as sales slow and prices flatten out, Ken H. Johnson, a real estate economist who also works at Florida Atlantic … Read more
MARATHON, Fla. – The state is considering easing strict long-standing limits on development in the Florida Keys, a move that could fuel the biggest building boom in the ecologically fragile island chain in nearly a half-century. It could – at least potentially – open the door to as many as 8,000 new homes and businesses … Read more
RE Q&A: Tenants don’t have to pay rent for the time their place is inhabitable. But landlords aren’t required to find them a temporary place or pay for it either. FORT LAUDERDALE, Fla. – Question: Our rental townhouse had an issue with the roof that leaked water into one of the bedrooms our renters use … Read more
FORT LAUDERDALE, Fla. – After Rich Engels’ mother died earlier this year, Engels decided to sell her condo unit in Sunrise Lakes Phase 4. He lined up a buyer, but he said the deal fell apart after the lender learned that the condo building had no wind insurance. Lenders won’t approve mortgage loans on buildings … Read more
In Fla., cash sales dropped year-to-year in only one metro: Fort Lauderdale. The percentage of cash sales ranged from 38.2% in Tampa to 49% in West Palm Beach. SEATTLE – Just over one-third (34.1%) of U.S. home purchases in September were made in cash, up from 29.5% a year earlier and the highest share in … Read more
FORT LAUDERDALE, Fla. – The one-two punch of the post-Surfside law designed to require condominium associations to set aside sufficient reserves for structural repairs combined with Florida’s unending increases in insurance costs is threatening to produce a wave of foreclosures. “People are going to be losing their homes. Foreclosures are increasing,” warned Broward County Commissioner … Read more
Albany, N.Y., homes went under contract in 8 days in Sept., followed by Rochester (9) and Grand Rapids, Mich. (9). In 8 Fla. metros, it ranged from 25-58 days. SEATTLE – The U.S. supply-demand balance for real estate has shifted over the past year. In Albany, N.Y., the typical home sold in September went under … Read more
Census Bureau: Fla. and Arizona welcomed more relocating Californians last year as Texas numbers dropped. In 2021, 37K moved to Fla.; in 2022, it grew to 50K. ORLANDO, Fla. (AP) – The number of former Californians who became Texans dropped slightly last year, but some of that slack was picked up by Arizona and Florida, … Read more
In Fla., median income is less in six metros and higher in three, ranging from an $88.7K yearly income in Lakeland (up 13.4% year-to-year) to $143K in Miami (up 33.4%). SEATTLE – The average U.S. household must earn $114,627 to afford a median-priced U.S. home, up 15% ($15,285) year-to-year and more than 50% since the … Read more
Most buyers or current owners considering a remodel don’t know how to do the work or who to trust with the task. To start, check licenses, credentials and public records. FORT LAUDERDALE, Fla. – Question: We need a larger house for our growing family. Considering the price of houses lately, we decided to remodel and … Read more
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