News

50% of today’s renters plan to buy within 2 years

10/21/15

CHERRY HILL, N.J. – Oct. 21, 2015 – Many renters are considering a shift to homeownership soon as rents continue to rise.

According to a survey released by TD Bank, 50 percent of consumers currently renting are likely to purchase a home within the next two years – and many have already taken steps toward homeownership, such as saving for a downpayment.

The TD Bank Renter Survey polled more than 1,000 Americans currently renting apartments or homes, asking how they feel about homeownership, what concerns might be keeping them out of the housing market and what factors motivate them to consider home purchases.

The findings reveal that higher rents are directly connected to consideration of homeownership.

The renting landscape

  • According to the survey, the breaking point where renters say they would contemplate buying

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HUD charges landlord for adult-only section

10/13/15

WASHINGTON – Oct. 13, 2015 – The U.S. Department of Housing and Urban Development (HUD) today announced it is charging a group of Colorado landlords with housing discrimination for allegedly relegating families with children to apartments in the rear building of an apartment complex.

HUD charged property owners Roger Loecher and Eileen Loecher, and on-site manager Miriam Yehudah, after fair housing testing discovered illegal "steering" was taking place based upon the tenant's family status.

"Families with children have the right to the housing of their choice," says Gustavo Velasquez, HUD Assistant Secretary for Fair Housing and Equal Opportunity. "Discriminatory steering is against the law, and the action we're taking reaffirms our commitment to protect the fair housing rights of families with children."

The charge results from fair housing tests conduct

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Fla. home to 1 in 4 U.S. international sales

10/09/15

ORLANDO, Fla. – Oct. 9, 2015 – The National Association of Realtors® (NAR)' research division just released the Profile of International Home Buyers in Florida 2015 Report, which it creates in cooperation with Florida Realtors.

According to the latest report, international sales are not the exception in Florida, they're simply a normal part of doing business: A majority of Florida Realtors members (69 percent) say they have international clients. Overall, one in four U.S. international sales take place in The Sunshine State.

For the survey, NAR looked only at clients who are "citizens of another country," which includes:

  • Non-resident foreigners with permanent residences outside the U.S. who typically purchase property as an investment or vacations
  • Resident foreigners who im

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Florida Realtors issues biz rent tax Call to Action

10/06/15

TALLAHASSEE, Fla. – Oct. 6, 2015 – Florida Realtors® issued a legislative Call to Action yesterday.

The issue at hand: Business rent taxes. The Call to Action asks Realtors in Florida to take a few minutes to contact Gov. Rick Scott as he creates his state budget proposal for the next fiscal year.

"Gov. Scott is putting together his recommended budget during the months of October and November," writes Andrew Barbar, Florida Realtors president. "This budget will be released on or near Dec. 1, 2015. We are asking all Florida Realtors members to please contact Gov. Scott and ask him to support the reduction of the Business Rent Tax by including a rate reduction of 1% in his budget."

Currently, Florida is the only state that has a business rent tax, which is a 6 percent levy paid by commercial businesses

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By 2025, 13M will pay 50% of income for housing

09/22/15

CAMBRIDGE, Mass. – Sept. 22, 2015 – The number of households spending more than 50 percent of their income on rent is expected to rise at least 11 percent – from 11.8 million to 13.1 million – by 2025, according to new research by Harvard University's Joint Center for Housing Studies (JCHS) and Enterprise Community Partners Inc. (Enterprise).

The study, Projecting Trends in Severely Cost-Burdened Renters: 2015-2025, says the U.S. will have a growing renter affordability crisis, with the largest increases expected among older adults, Hispanics and single-person households.

According to the study authors, a rental crisis will occur even if current income trends and rent trends tu

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State Property Management LLC's goal is to keep you and your tenants informed regarding all matters related to your property. Managers are avail able to answer any questions you may have about your rental property. Our goal is to keep you as informed as needed using any medium. Our mangers are available by phone email or fax to help keep you informed.