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Diana

Home and Real Estate News

Property Deed Fraud Is Growing in Florida

The switch to online records may be part of the problem. All of Florida’s 67 counties have some sort of property fraud alert program, but more people need to sign up. ORANGE PARK, Fla. – Across Florida, scammers are selling people’s land and even homes behind their backs. Officials are urging property owners to protect themselves this week. It’s called property deed fraud, and there’s been a big spike in cases here in Florida because the real estate market in the Sunshine State…

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Home and Real Estate News

Home Equity Down Slightly Across U.S. in 4Q 2023

Attom: 46.1% of mortgaged residential properties were equity-rich in 4Q. Miami was among the biggest metros with the most equity-rich mortgaged properties (61.8%). IRVINE, Calif. – Attom has released its fourth-quarter 2023 U.S. Home Equity & Underwater Report, which shows that 46.1% of mortgaged residential properties in the United States were considered equity-rich in the fourth quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than…

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Home and Real Estate News

When Will Housing Affordability Improve?

It’s going to take time, experts say: Expected interest rate cuts will have some impact on housing prices and mortgage rates, but more housing stock is needed. NEW YORK – Inflation is slowing, and job growth has surged but many Americans still feel the burden of expensive housing – fueled in part by high demand, low inventory and mortgage rates. Home prices across the U.S. rose 5.5% over the past year in December 2023 and they are projected to…

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Home and Real Estate News

Mortgage Rates Rise to 6.77%

Rates on 30-year mortgages ticked up this week, but forecasters remain optimistic they will hover around 6% by the end of the year. LOS ANGELES — The average long-term U.S. mortgage rate rose this week to its highest level in 10 weeks, a setback for prospective homebuyers ahead of the spring homebuying season. The average rate on a 30-year mortgage rose to 6.77% from 6.64% last week, mortgage buyer Freddie Mac said…

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Home and Real Estate News

Homeowners Staying in Their Homes Longer

A new Redfin report found homeowners are staying in their homes twice as long as they did in 2005, driven largely by older Americans. SEATTLE— Baby boomers and Gen Xers, more than other generations, are staying in their homes up to 20 years, far exceeding the typical 11.9 years most U.S. homeowners occupy their residences. A new report from Redfin showed nearly 40% of baby boomers have lived in the home they currently own…

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Home and Real Estate News

How couples manage their finances together

At the end of the day, more than 60% of those surveyed find it easy to manage their finances with their partner. NEW YORK — One in 10 Americans don’t know their partner’s salary, according to new research. A poll of 2,000 Americans in serious relationships, engaged or married split evenly by generation revealed that respondents aren’t just in the dark about the money that’s coming in. Almost one in five (15%)…

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Home and Real Estate News

Millennials Intent on Homeownership

“More than three-quarters of millennial home buyers would consider an interest rate higher than the national average of about 7%,” the study found. NEW YORK – Most millennials are prepared to take drastic measures to buy a home, with 65% saying they would pay up to a 10% mortgage rate and 23% admitting they would buy at 15% or more, according to a new study from Clever Real Estate. A combination of…

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Home and Real Estate News

Owning in Some Florida Counties Beats Renting

A recent study found that homeownership is more affordable than renting in several Florida counties despite a nationwide trend to the contrary. NEW YORK – A new report shows that median three-bedroom rents in the U.S. are more affordable than owning a similarly-sized home in nearly 90% of local markets around the nation. The 2024 Rental Affordability Report was released by property data analytics company ATTOM. The report shows that both renting…

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Home and Real Estate News

Florida Chamber: State Population to Slow in 2024

The chamber also said the housing market will begin to stabilize to a new normal, and home prices will no longer spike. TALLAHASSEE – The state’s population will grow in 2024, but not as much as the previous year, and the population demographics will shift, Florida Chamber Foundation economists and researchers said during the organization’s annual economic outlook summit. The chamber said the state will grow by 225,000 to 275,000 net new…

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Home and Real Estate News

Engaging the Single Female Buyer

Single women have different buying considerations than those of other buyers, a Harvard University study found. NEW YORK – Real estate professionals should understand female buyers to be successful, including the preference for safe neighborhoods and gated communities. The Joint Center for Housing Research at Harvard University found that women prefer condominiums, townhomes or single-family homes within a gated or structured HOA development and a focus on unchangeable safety features within each…

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