Thu Jul 27, 2023 on News
Why Is the Housing Market So Sluggish? There is a critical shortage of homes causing a weak housing market. Sales of pre-owned homes dropped 3.3% in June from May, and 18.9% lower than from June of 2022. While a six-month supply is considered balanced between buyer and seller, the current sales represent only a 3.1-month supply. Pricing of homes has […]
Thu Jul 6, 2023 on Florida Real Estate & News
As of July 1, 2023, Florida’s recently enacted legislation, SB264, restricts certain foreigners from buying or owning Florida real estate. Specifically, the new law, codified in Florida Statutes 692.202-204, provides land ownership restriction, prohibiting “foreign principals” from owning or acquiring agricultural land or real property within ten miles of any military installation or critical infrastructure facility, foreign principals include individuals […]
Thu Jun 8, 2023 on News
Many homeowners may have taken second mortgages, including home equity lines of credit, on their homes years ago, and thought that the underlying mortgage debt for such loans was forgiven. Other homeowners may have inherited a home without knowing that there was a second mortgage in place or bought such a home at a foreclosure auction. There are also situations […]
Tue May 9, 2023 on Blog & Florida Real Estate
Cash offers on homes have increased substantially over the last few years. In 2022, according to Redfin, 30% of all home sales were paid with all cash with 64% of all $1 million plus sales in Palm Beach, Miami-Dade, and Broward counties as well as 46% those under $1 million being cash deals. What are the Seller Advantages? Although it may be […]