Study: Fla. leaped past New York to be No. 2 in housing values, trailing only Calif. S. Fla. (No. 5) and Tampa (No. 18) made the “top 20 most valuable metros” list. SEATTLE – The total value of the U.S. housing market surged more than $2.6 trillion over the past year, according to a Zillow analysis, largely due to rising home prices and the value of new construction. Florida has been at…
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FTC: Financial scams, including cryptocurrency schemes, cost consumers $3.8B last year just in the U.S. – twice as much as in 2021. NEW YORK (AP) – Social media is full of scammers promising guaranteed returns on investment, and consumers lost billions of dollars to them last year. Troy Gochenour, 50, of Columbus, Ohio, was conned out of $25,800, including $15,800 in borrowed money, in a crypto-mining scam that began with a WhatsApp…
NAR: Buyer demand is stronger than it appears as 15%-27% of buyers (by ethnic group) wait for lower home prices and 18%-25% wait for lower mortgage rates. WASHINGTON – The current real estate market’s high home prices and mortgage rates, as well as limited inventory, are the top reasons that Realtors® and prospective homebuyers across races and ethnicities cite as barriers to purchasing a home, according to two new reports from the…
Existing homes can be elevated – a mitigation strategy for storm surge – and federal programs will help pay for it. But the program comes with hurdles. MIAMI – After storm surge from Hurricane Idalia flooded homes in Tampa Bay and Florida’s Big Bend region, state officials are asking homeowners to tap into a federal program to help pay to elevate homes. “It is one of the best programs that we have…
Residents of the small, rural areas of the state’s “Nature Coast” fear the high costs of rebuilding will price them out and they’ll lose their “old Florida” way of life. HORSESHOE BEACH, Fla. – The Gulf of Mexico obliterated some of the old wooden clapboard homes and pushed others around, some left cracked and broken in the middle of the road. Fishing guide Hope Reinke’s home, similarly rustic but elevated on stilts, survived…
The good news is also the problem: Consumers keep spending. The economy keeps growing but so does inflation, and the Fed’s expected Sept. rate hike may not be its last. JACKSON HOLE, Wyoming (AP) – The continued strength of the U.S. economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said Friday in a closely watched speech that also highlighted the uncertain nature of the economic outlook. Powell noted…
Florida Realtors: Higher mortgage rates still a factor; single-family home median price at $415K, 2.8 months’ supply. Condo median price at $319K, 3.6 months’ supply. ORLANDO, Fla. – In July, Florida’s housing market reported improving inventory levels (active listings) and statewide median sales prices consistent with values of a year ago, according to Florida Realtors®’ latest housing data. “Buyers and sellers in Florida continue be challenged by higher mortgage rates, which have been…
“Livability” is subjective, but an exhaustive study attempted to rank states based on how happy they’ll make residents. Fla. was No. 6 – but No. 1 in some categories. ORLANDO, Fla. – Around 8.6% of Americans moved last year, a slight uptick from the year before. Some movers wonder if they should stay put or move to another state. Others know they want to move to another state, but which one? To…
The 30-year mortgage rate moved closer to the 7% range, but most experts still predict wobbling rates in the upper-6% range. FORT LAUDERDALE, Fla. – With home prices in South Florida still on the rise, the ebb and flow of mortgage rates is making the market tricky for buyers and sellers. Mortgage rates reached 6.9% this week, the highest level seen since last November, according to a weekly survey done by the…
Some parents name their child an “authorized user” on their credit card, but it would only build credit scores if the child co-signed or had a secured card in their name. VICTORIA, Texas – While many of us had to learn financial literacy from scratch in adulthood – one recent survey found that 31% of families have no money conversations with their kids at all – others come from families that overdo it…