News

Fla.’s foreclosure rate dropping, state now No. 4

07/14/16

IRVINE, Calif. – July 14, 2016 – While Florida continues to have a higher number of foreclosures, the total number continues to drop, and the state's U.S. ranking is in decline as it moves from its often No. 1 spot down to No. 4 in RealtyTrac's 2016 U.S. Foreclosure Market Report.

New Jersey now tops RealtyTrac's foreclosure-rate list (0.98 percent of housing units with a foreclosure filing) followed by Maryland (0.90 percent) and Delaware (0.78 percent). In fourth place, Florida (0.70 percent) still outranks its long-time competitor for the top spot, Nevada (0.68 percent).

The top 10 list of foreclosure-rate states for the first six months of 2016 is rounded out by Illinois (0.61 percent), Ohio (0.54 percent), South Carolina (0.54 percent), Connecticut (0.48 percent) and Indiana (0.47 percent).

In a look at foreclosure rates by metro area, Florida has three cities in the top 10:

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Forecast: Fla.’s economy will outpace U.S.

06/29/16

ORLANDO, Fla. – June 29, 2016 – Spurred by rising job growth and home construction, Florida's economy is expected to continue to grow at a faster pace than the national forecast for the next four years, according to the latest forecast from UCF economist Sean Snaith, director for the Institute for Economic Competitiveness at the UCF College of Business Administration.

"The fundamental underpinnings of the housing market in Florida continue to strengthen. Job growth in Florida is forecasted to continue outperforming the U.S. labor market and more baby boomers continue to reach the end of their working lives," wrote Snaith in the second-quarter Florida & Metro Forecast. "This bodes well

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‘Brexit’ could boost U.S. real estate – or not

06/27/16

A. Lange & Sohne Replica Watches ORLANDO, Fla. – June 27, 2016 – Britain's vote to exit the European Union (EU) will likely have a long-term impact on the world economy – but in the short-term, U.S. real estate could be flooded with investors flocking to the U.S. as a safe haven, pushing up the dollar and sending down mortgage rates.

"Demand for U.S. real estate could rise," says NAR Chief Economist Lawrence Yun.

On the commercial side, global corporations could show additional interest in U.S. real estate as they come to see the U.K. as a less certain place to set up or maintain their businesses, Yun says, "especially in London as it becomes a less attractive place to conduct global business."

While a rise in the dollar could hurt U.S. exports, it's also expected

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In the buy vs. rent battle, ‘buy’ is winning

06/06/16

BOCA RATON, Fla. – June 6, 2016 – The latest national index produced by Florida Atlantic University (FAU) and Florida International University (FIU) faculty indicates the United States housing market as a whole is moving deeper into buy territory, suggesting that, on average, residential housing markets around the country are sound.

Based on numbers from the end of the first quarter, the latest Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index comes on the heels of the latest S&P/Case-Shiller Home Price Index, which found home prices nationally climbed 5.4 percent since March 2015.

"This appears to be driven b

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1 in 10 home sales flipped in many Fla. metros

06/02/16

IRVINE, Calif. – June 2, 2016 — RealtyTrac's Q1 2016 U.S. Home Flipping Report finds that 6.6 percent of all U.S. single-family home and condo sales in the first quarter of 2016 were flips – a 20 percent increase quarter-to quarter and 3 percent increase year-to-year.

The percent share of flips was still 26 percent below the 9 percent share at the peak of home flipping in the first quarter of 2006 – but was 55 percent above the recent trough in home flipping (4.3 percent in Q3 2014).

For the report, a home flip is a property sold in an arms-length sale for the second time within a 12-month period.

"After faltering in late 2014, home flipping has been gaining steam for the last year and a half thanks to falling interest rates and a dearth of housing inventory for flippers to compete against," says Daren Blomquist, senior vice president at RealtyTrac. "While respo

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