American homebuyers now need 15% ↑ income, but wages have only ↑ 5%. Affordability means spending no more than 30% of income on housing. South Florida experiences a significant rise in home prices, particularly impacting first-time buyers....
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In November 2023, the home insurance market in Florida is in a state of flux, with many insurers leaving the state or going bankrupt and new companies coming in. Citizens Property Insurance, created in 2002 as the insurer of last resort, has become a popular option for homeowners due to its cheaper rates. However, Citizens has recently sent out 300,000 depopulation letters to some policyholders, offering...
1. Acknowledge challenges, embrace the current environment, and focus on opportunities while addressing negativity to establish credibility. 2. Use owned content platforms to control your narrative and reach target audiences. 3. Develop a concise, detailed narrative to address stakeholders' concerns and select competent spokespersons....
Predicting the value of your property a decade from now involves various factors and market trends. Including: 1. Location 2. Market conditions 3. Property improvements 4. Neighborhood trends 5. Historical market performance...
Mortgage origiThe job market is likely to slow down in 2024, causing an increase in unemployment and a gradual decline in inflation. natioans for 2024 are predicted to reach $1.95T, with purchase originations ↑ 11%. An Economic Mild Recession Is Expected, Driven by Higher Interest Rates, Tighter Credit Conditions, and Decreased Pandemic-Era...
Transfer atax is a significant, often overlooked financial consideration in property transactions. It is imposed by state or local governments on the transfer of property titles from one individual to another. Some states do not impose transfer tax, while others have rates as high as 1.28% and 1.5%....
In October 2023, South Florida buyers are receiving some relief as mortgage rates have risen but home prices in Miami-Dade County have dropped for the third consecutive month. Single-family house prices decreased from $620K in August to $600K in September, while condo prices dropped from $416K to $415K. Despite the monthly price deflation, the cost of entry into the South Florida housing market is still...
The “11th hour of the 11th day of the 11th month" of 1918 signaled the end of World War I. It's honored as Veterans Day to remember the men and women who have served, and continue to serve during times of war, conflict and peace. Salute to all heroes, and thank you for your service.personnel who served the United States in all wars, particularly living...
Homeowners should generally insure their homes for the full replacement value. Some homeowners choose lower policy limits to save on premiums, assuming most repairs won't cost the full replacement value.Insurers enforce the 80% rule to ensure homes are adequately insured, requiring coverage for at least 80% of replacement costs....
Florida's favorable tax policies and economic growth make it an attractive Real Estate investment. It is among the best states to purchase property in the next 10-yr. Orlando and Jacksonville are hotspots with Fortune 500 companies and strong economies. Florida's warm weather and beach access make it appealing for retirement and lifestyle....