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Yearly tax value increases are capped at 3% on homesteaded properties, but voters may be able to lower it to 2% if the Fla. Legislature passes an amendment proposal.
Builders are more optimistic about the 2023 market, but that optimism isn’t reflected in the number of Jan. housing starts. Building permits increased a bit, though.
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31% of U.S. Dec. sales were for cash, though Fla. percentages ran as high as 52% in West Palm Beach. VA and FHA loans also rose in most Fla. metro areas studied.
FHA wants to hear from the public on ways to improve its Single Family 203(k) Rehabilitation Mortgage that rolls home upgrade costs into a buyer’s first mortgage.
Given a mild drop in some metro’s home prices, more investors are taking a wait-and-see attitude. And flippers who use short-term loans are dealing with higher costs.
The NAHB index measuring builders’ attitudes rose 7 points this month to 42. While 51 and higher leans positive more than negative, it suggests better times ahead.
NAR’s Realtors Relief Foundation helps people after a disaster threatens their homes, including Floridians after Hurricane Ian hit Fla. last year.
There’s been an uptick in mortgage company bankruptcies as rates rise and biz declines. For buyers, that means a possible hiccup as they head toward closing.
