Reverse mortgages – also known as Home Equity Conversion Mortgages (HECMs) – can help homeowners aged 62 and older. MIAMI, Fla. – A Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, is a HUD-insured financial product that allows homeowners aged 62 or older to convert a portion of their home equity into … Read more
A Harvard study said creative housing ideas are needed as the aging population booms. PHOENIX (AP) — Michael Genaldi’s road to homelessness began early this year when a car slammed into the rear of his motorcycle, crushed three of his ribs and left him in a coma for over a month. The 58-year-old lost his … Read more
Maria Wells, 2017 President of Florida Realtors, is among the appointees to the Commission on the Status of Women. TALLAHASSEE, Fla. — Governor Ron DeSantis announced the appointment of Leda Kelly and the reappointment of Candace Falsetto and Maria Wells to the Florida Commission on the Status of Women. The commission communicates, promotes and collaborates … Read more
MIAMI – Some people trying to buy a condominium in South Florida but getting mysteriously rejected for a mortgage could be in for a jolt: The reason they can’t get a loan may be that the condo is on a secret quasi-governmental blacklist. News media reports and data leaks to a pair of law firms … Read more
New building codes and regulatory changes are in the future as Southwest Florida continues to recover from Hurricane Ian’s wrath. FORT MYERS BEACH – When it comes to once-in-a-generation hurricanes and Florida’s real estate market, one thing is clear: change is afoot. Consider Hurricane Andrew. More than three decades ago, that deadly 1992 storm … Read more
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
An appeals court ruled that a property insurer had to cover damage caused by nearby rock blasting. The insurer said it was uncovered “earth movement.” TALLAHASSEE, Fla. – An appeals court Wednesday upheld a ruling that required a property-insurance company to cover damage that the owners of a Miami-Dade County home said was caused by … 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
11% of metros saw double-digit price increases in 3Q, even though buyers faced a one-year mortgage payment increase of 19.2%. In 2Q, prices rose in only 58% of metros. WASHINGTON – More than 80% of metro markets (182 out of 221) posted home price gains in the third quarter of 2023 when the 30-year fixed … Read more
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