One of the standout findings from the Zillow report is that the total value of the U.S. housing market now stands at a staggering 49% higher than before the onset of the pandemic. This significant increase reflects the resilience of the housing market in the face of economic uncertainty.
Industry News 9-25-21 – Aug. FL Market Update, Housing Inventory, FMERR for Homeowner, FR/BAR Update. In this week’s news updates we highlight some of the following latest news: August Monthly Market Details for the state of Florida. NEFAR: August’s slight increase in housing inventory not enough to satisfy buyer demand. HOME AFFORDABLE REFINANCE PROGRAM (HARP). What is Freddie Mac Enhanced Relief Refinance (FMERR)? Florida Realtors Updates FR/Bar Contracts and Riders. Common Mistakes for New Real Estate Agents. From legal advice, to hard money loans, binder deposits and even an on-time escrow closing. Poor time management and other mistakes can be avoided.
The U.S. Supreme Court suspended the eviction moratorium on Thursday August 26. The eviction moratorium was originally extended by the Center for Disease Control and Prevention on August 3rd in an effort to mitigate the increase of the pandemic in areas where the virus SARS-CoV-2 is prevalent.
According to the most recent housing data provided by the Florida REALTOR’s Research Department in conjunction with REALTOR associations and boards in their respective local regions, the following has been analyzed.
Purchasing a home is one of the biggest investments many Americans will ever make during their lifetime. This endeavor is much more than a mere home purchase or property investment. It encompasses the economic hopes, dreams and destiny of those involved. Sadly, the process of purchasing a home can present some new appalling experiences to some, like discrimination.
Purchasing a home is not the easiest process to go through and in many cases, most homeowners need some level of assistance to help them get through the financial hump. Fortunately, for first-time home buyers in the State of Florida, there are recent programs implemented to help them do just that. Even amid the corona virus pandemic, Florida State has listed multiple down payment assistance programs that fit for both FHA and conventional borrowers.
The HFA Preferred: Offers to eligible borrowers, in the place of a 0% down second mortgage, up to $7,500 down payment assistance, a fixed rate mortgage for 30 years and decreased premium mortgage insurance. The $7,500 2nd mortgage becomes payable in full if: the mortgage borrowers decides to no longer occupy the property. Otherwise, the $7,500 assist is deferred so long as the property is not sold, satisfied, refinanced or transferred.
The 1031 exchange, as defined in section 1031 of the United States IRS Code, provides a unique opportunity for real estate investors to defer income-based tax liabilities imposed by both the Federal Government and local state tax laws. This exchange applies to specific property transactions, allowing investors to defer taxes by reinvesting in a property of equal value and purpose.