FHA charges sellers a full-month’s interest at early-month closings, and a group of owners are suing four banks over the practice, including BofA and SunTrust. Source: Florida Realtors
Vacation Home Sales Reach 2nd Highest Mark Since 2006 [INFOGRAPHIC]
Some Highlights: 58% of vacation homes purchased were single family homes. 51% of vacation homes that were purchased were found online. The median price of a vacation home is up 28% from 2014. Source: Luxury Market News
Vacation Home Sales: Sales Down, Prices Up
The National Association of Realtors recently released their 2016 Investment and Vacation Home Buyers Survey. The survey revealed many characteristics of both vacation home purchasers and investors. Today, we want to concentrate on the vacation real estate market. The survey found that vacation home sales last year declined to an estimated 920,000, down 18.5% […]
The 1960's ranch home? It's back.
In some areas, demand is high for one-story homes, but there are fewer listings because builders have been constructing more two-story homes on smaller lots. Source: Florida Realtors
The Top Reasons Why Americans Buy Homes
Last week, the inaugural “Homebuyer Insights Report” was released by the Bank of America. The report revealed the reasons why consumers purchase homes and what their feelings are regarding homeownership. Consumer Lending Executive, D. Steve Boland, explained: “Homebuyers today are motivated by both emotional and practical reasons. Nearly all want more space, but a majority […]
Buyers' top mortgage complaint? Tax data errors
A home can receive six separate tax estimates between listing and an owner’s first mortgage payment, and some estimates are more accurate than others. Source: Florida Realtors
Study: Little chance Fla. home prices will drop
The likelihood of a price decline over the next two years is negligible, according to the Arch MI. Only U.S. states with energy industries have a marginal risk. Source: Florida Realtors
Big single-family rental firms change tactics
Post-recession, large companies started to buy homes, fix them up and rent them out. Today, though, they buy fewer homes and are even starting to sell a few. Source: Florida Realtors
First-time buyers want to bypass starter home
BofA report: 75% of first-time buyers would prefer to move into homes that meet their long-term needs; another 35% plan to retire wherever they buy. Source: Florida Realtors
Mortgage rates hit lowest level since 2015
The average rate on 30-year FRM fell to 3.59% this week from 3.71% last week after the Fed chair reaffirmed her plan to raise interest rates slowly. Source: Florida Realtors