Event Overview: Market Trends 2024 is Southwest Florida’s premier real estate summit on March 12. In-Depth Analysis: Experts explore trends, offering insights into Southwest Florida's real estate dynamics up to 2024....
Real Estate & Mortgage News
A new report by Florida TaxWatch highlights the economic impact of unlicensed vacation rentals in the state. The report emphasizes the need for more transparency and safety measures, as well as tax collection. Lawmakers are advancing legislation to address these issues, aiming to create uniform standards and regulations for vacation rentals. The report recommends establishing a data source to track...
Northeast Florida Association of Realtors reported ↑ 5% in median home prices. Sales for single-family homes: ↓ 16% -Duval County single-family: $390,280...
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Median sales prices ↑ to $615K for a house and $420K for a condo in Miami-Dade County in November. Despite rising supply, high demand in South Florida has kept housing prices resilient, presenting challenges for aspiring homeowners.More options are available for home buyers, with Miami-Dade having a 4.4-mo supply of houses and 6.8-mo of condos....
Mortgage rates have fallen in the past week, including 15-year fixed, 30-year fixed, and 5/1 adjustable-rate mortgages, with average rates now between 6% and 7%. Despite this, the end-of-year slowdown in the mortgage market means the impact on holiday home shopping will likely be minimal. However, if rates stay low, demand could rise in January. Factors such as Federal Reserve policy, inflation, and...
Down payment requirements vary, but options include 3% for conventional loans, 3.5% for FHA loans, and even zero down for VA and USDA loans.Avg closing costs in Florida amount to 2.3% of the purchase price, shared between the buyer and seller....
The South Florida condo market anticipates balance amid rising inventory and new listings. Move-in ready spaces and indoor-outdoor living spaces will continue to be in high demand in 2024. Concerns about rising sea levels and flood protection add pressure on new condo projects in Florida....
National Avg: In Q3 2023, 35% of U.S. home sales involved seller concessions. Florida Metros: Miami (35.4%) and Orlando (34.3%) align with the national avg. Tampa Surge: Tampa saw a notable rise, with 43.1% of sales involving concessions....
Florida dominates the nation's top housing developments, with Babcock Ranch, Ave Maria, Lakewood Ranch, and Wellen Park seeing increased sales. Tampa General Hospital plans to expand into Babcock Ranch. Florida accounts for 40% of sales in top US master-planned communities. Warby Parker has also opened its first physical stores in Southwest Florida. Continue to full article...