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…
Browsing Category
Home and Real Estate News
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…
The average rate for a 30-year, fixed-rate mortgage fell to 6.78% this week – down from last week’s 6.96% and the lowest rate in about a month. LOS ANGELES – The average long-term U.S. mortgage rate slipped this week to the lowest level in four weeks, a boost for house hunters facing a market held back by persistently high prices and a near-historic low number of homes for sale. Mortgage buyer Freddie…
Monroe County tops the list with a median home value just shy of $1M ($957,819) – but it’s not No. 1 for median income ($73,153). MIAMI – If your retirement plan is a vision of luxury, maybe one of Florida’s wealthiest counties will catch your attention. Or maybe you want to live out your youthful days in one of those rich places. The wealthiest county of Florida’s 67 counties has a median…
In a time of rising housing costs, a fixer-upper offers more house for the money – but the iffy cost for renovations scares buyers already hurt by high interest rates. NEW YORK – Real estate agents say today’s buyers appear to have little desire to take on the additional costs and headaches of major renovation projects. Turnkey homes have always been popular and that popularity hasn’t declined any, even though a fixer-upper…
It’s the third weekly drop in a row and down from last week’s average of 6.69% for a 30-year, fixed-rate mortgage. A year ago, rates were 5.81%. LOS ANGELES (AP) – The average long-term U.S. mortgage rate fell for the third time in as many weeks, a welcome boost for homebuyers facing a housing market that’s been held back this year by a tight inventory of homes for sale. Mortgage buyer Freddie…