– End-of-year mortgage rates remain below 4% According to Freddie Mac, the average mortgage rate stood at 3.87% by the end of 2014 – a slight week-to-week increase. Forecast: 2015 to be banner year for real estate While real estate predictions differ on the details, most experts agree that...
– UCF forecast: Fla. ‘economic miracle’ in 2015 Quarterly report says the Fla. recession lasted 32 months longer than the U.S. as a whole, but a revival that started in 2012 will pick up speed in 2015. Buyers have ways to reduce closing costs The total amount paid for...
– Owning still trumps renting in overall wealth Paying a mortgage is a form of forced savings, and even owners who bought from 2007-2009 have seen an average gain so far of $18,000 in their net worth.
– Short sale tax break heads to Obama Congress passed a tax forgiveness bill that caused NAR to issue a Call for Action. If the president signs, 2014 short sellers are shielded from related IRS taxes. Mortgage fraud: Fla. still No. 1 but things improved LexisNexis study: Fla. led...
– Fla. institutional investors could turn 29% profit RealtyTrac: Institutional investors bought about 34K Fla. homes when cheap and rented them out. But when will they sell? If now, their average profit would be 29%. New lending guidelines target first-time homebuyers The new guidelines should add more low-end buyers...
– 70% don’t know about downpayment assistance Many potential mid-income homebuyers don’t think they qualify for downpayment assistance. Often, however, they do – and would become buyers if they knew.
– Owners and appraisers are almost on the same page In Nov., appraisers and homeowners came close to agreeing on home values, with appraisals coming in, on average, only 1.56% higher than owners’ estimates. Fannie, Freddie to fund affordable housing program The two housing giants funded an affordable housing...
– Fla. returns to No. 1 foreclosure position The state improved substantially year-to-year. By metro area, however, Fla. cities ranked as 8 of the top 10 foreclosure hotspots, according to RealtyTrac report. FHA’s 90-day flipping ban returns Jan. 1 A post-recession waiver allowed property flips in less than 90...
– NAR pushed Congress for first-time buyer help “The housing market hasn’t been this unwelcoming to first-time buyers since 1987,” a Realtor told members of a U.S. Senate Banking Subcommittee. Survey: Homeownership still seen as enviable goal Today’s renters want to own a home, but many won’t try. While...
– Coming soon: The return of the 3% downpayment Buyers must currently put at least 5% down for gov’t to consider a loan acceptable, but some banks could start offering 3%-down mortgages by the end of the year. How safe is your Florida property insurer? The Palm Beach Post...
