News

Fla. housing market enters ‘outer range of stable’

02/25/16

WASHINGTON – Feb. 24, 2016 – Freddie Mac's monthly Multi-Indicator Market Index (MiMi) finds that two states – Florida and Arizona – have entered their outer range of stable housing activity.

MiMi attempts to judge housing market fundamentals – the "sweet spot" for balance – calling those markets "in range." To come up with a MiMi score, Freddie Mac says it "draws from multiple data sources, including our daily business with more than 2,000 mortgage lenders" and local market data.

According to the latest December 2015 MiMi score, Florida's index hit 80.1. Freddie considers a score between 80 and 120 to be "in range." It finds Florida "in rang

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1.6% of U.S. homes vacant – in Fla., it’s 2.3%

02/12/16

IRVINE, Calif. – Feb. 11, 2016 — RealtyTrac's just-released Q1 2016 U.S. Residential Property Vacancy Analysis finds that Florida has a higher vacancy and foreclosure rate than the rest of the U.S., but the numbers continue to drop.

Nationwide, more than 1.3 million (1.6 percent) homes were vacant at the beginning of February, but that's down 9.3 percent from the third quarter of 2015. In Florida, 154,179 homes were vacant, or 11.9 percent of the nation's total.

However, RealtyTrac vice president Daren Blomquist says that vacant homes don't present a problem in most areas of the country.

"With several notable exceptions, the challenge facing most U.S. real estate markets is not too many vacant homes but too few," says Blomquist. "The razor-thin vacancy rates in many markets are placing upward pressure on home prices and rents. While that may be good news for sel

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Forbes list of Investment Cities for 2016 - 7 are in Florida

02/04/16

Feb 3rd 2016,

Forbes has released it's national list of top cities to invest in for 2016 and 7 are in Florida!

2.   Orlando, Florida
8.   Fort Lauderdale, Florida
10. Cape Coral, Florida
12. North Port Florida
14. Tampa, Florida
18. Jacksonville, Florida
19. West Palm Beach, Florida

The full article can be read here; http://www.forbes.com/pictures/emeg45egmeh/2-orlando-fla/
 

 

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FHA to cut insurance rates on multifamily mortgages

02/01/16

WASHINGTON – Jan. 29, 2016 – The Federal Housing Administration (FHA) announced a multifamily insurance rate reduction designed to encourage capital financing of affordable and energy-efficient apartments. The rate reductions take effect on April 1, 2016, and directly impact FHA's Multifamily Housing Programs and properties housing low- and moderate-income families and/or developments that install energy-efficient systems or build within federal energy guidelines.

FHA's new multifamily insurance rates are available online.

HUD Secretary Julián Castro announced the changes during a visit to an affordable housing complex in Columbus, Ohio. FHA estimates that multifamily insurance rate r

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Fewer Fla. foreclosure homes ‘seriously underwater’

01/29/16

IRVINE, Calif. – Jan. 28, 2016 – RealtyTrac's Year-End 2015 U.S. Home Equity & Underwater Report finds a drop in the number of Florida homes that are "seriously underwater" – ones that owe at least 25 percent more on mortgages than the current value of their home.

At the end of 2015, one in five mortgage homes (19.8 percent) in the state were seriously underwater. One year earlier, it was one in four (24.7 percent). A significant part of that drop occurred in in the last quarter of the year: In the third quarter, 23.2 percent of Florida homes with a mortgage were seriously underwater.

On the flipside, more Florida homeowners became "equity rich" in 2015 – homes with at least 50 percent equity. The year ended with 20.7 percent of homes equity rich; a year earlier, it was 17.5 percent.

In a look at metro areas, two Florida cities ranked in the top five fo

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