Top 10 “hot real estate markets” for 2022

The future for the Florida real estate market is as bright as its sunshine.

Do you know which real estate markets have the most bullish expectations for 2022? A recent “hotness study” of metropolitan markets across the nation demonstrated some interesting (& not surprising) results. For starters, markets were defined by “hotness” based on the following: # of days on the market sales above list price sale-to-list price ratio… Continue reading Top 10 “hot real estate markets” for 2022

Single-family home rents are skyrocketing

Strong demand + inflationary pressures are raising rental prices.

The U.S. inflation rate by year is the percentage of change in product and service prices from one year to the next. This is also reported as year-over-year inflation. The Federal Reserve is constantly monitoring this figure and uses monetary policy to achieve its target rate of 2% inflation. The U.S. inflation rate as of… Continue reading Single-family home rents are skyrocketing

What is a property title search?

A property title search is critical step in any real estate transaction.

If you have ever bought or sold a property, then you likely are somewhat familiar with a property title search. The property title search is typically conducted after an offer to purchase real estate has been accepted. Throughout this process, multiple sources are searched including deeds, county land records, tax liens on the federal or… Continue reading What is a property title search?

Space heaters and house fires

Space heater safety is important to prevent house fires.

Sporadic cold weather during the winter make space heaters quite popular throughout Florida. However, these common household devices can be quite dangerous. In fact, just recently there was a deadly fire in the Bronx, NY that resulted in 17 deaths many injuries. The cause of this fire was a space heater. According to U.S. Fire… Continue reading Space heaters and house fires

What are master planned communities?

Florida leads the nation in master planned communities.

Master planned communities are a form of development envisioned and delivered as a self-contained, unified community, with clear boundaries and a full range of land uses, employment opportunities, public facilities and services. Frequently associated with retirees, these communities offer essentially all of the basic needs of living within a short walk or even golf cart ride. These communities… Continue reading What are master planned communities?

Housing wealth accumulation

Recent skyrocketing housing prices have resulted in significant wealth accumulation.

Home ownership is by far the largest source of wealth for most American families. In fact, the median value of a primary residence is worth about 10 times the median value of financial assets held by families. Typically, housing wealth is gained through either price appreciation or the paying off of a mortgage. With recent… Continue reading Housing wealth accumulation

Which state led the nation in population growth?

Overall population growth is at historic lows, but some states continue to see record grrowth.

The U.S. Census Bureau recently released their national and state population estimates. Overall, the population of the United States grew in the past year by 392,665, or 0.1%. This is actually the lowest rate of growth seen since the nation’s founding. Decreased international migration, decreased fertility, and increased mortality due to the pandemic were reasons… Continue reading Which state led the nation in population growth?

Mortgage rates hit a 20 month high

Mortgage rates are on the rise.

Although still low by historical standards, the 30-year fixed mortgage rate hit 3.22% in the first week of January. This figure represents the highest 30-year fixed rate mortgage rate that we have seen in 20 months. In fact, a year prior the 30-year fixed-rate was 2.65%. In the final week of 2021, we saw this… Continue reading Mortgage rates hit a 20 month high

How much is a typical down payment for a home?

With home prices increasing, so are down payments.

Coming up with a down payment for a home purchase is oftentimes one of the biggest challenges faced by buyers. While move-up buyers can use the money from selling their current home, first-time buyers are forced to save this money from scratch. Fortunately, there are various loan types and options that may provide some flexibility… Continue reading How much is a typical down payment for a home?