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Have big plans for this summer? Many families across Florida and the nation will spend time away from home during the summer months. To fully enjoy those activities and other summertime pursuits spent away from home, homeowners should take precautions to protect their residences when they’re not around. Crime rates across the country often start to peak as temperatures rise during the warm weather months – the same time that many families leave their homes unoccupied and unprotected. Homeowners can take these simple precautions to make their homes less of a target for criminals: No “Home Alone”: Before leaving your home during…

The Department of Justice, in its regulatory capacity, has recently intervened to reshape commission structures, a move that will trigger a multitude of changes, especially for home buyers. The National Association of Realtors ( NAR) settlement has not yet been accepted. It is proposed to go into effect at the end of June to mid-July. The results of the NAR Settlement means that: 1.    NAR owned multiple listing services ( MLS) are prohibited from sharing offers of compensation to Buyers. 2.   MLS members are required to enter into written agreements with the buyers disclosing how they will be paid and by whom before showing a…

Florida is now America’s fast growing state. According to recent census data, the Sunshine State added over 400,000 additional people between July 2021 to July 2022. It was a growth of 1.9%, bringing the total population to 22,244,823. That makes it faster-growing than Texas, which has the second-largest population in the United States, trailing only California. Florida is a popular destination for retirees, second-home buyers, and investors which is driving up demand for housing. Florida has consistently maintained one of the highest rates of job growth in the U.S., making it an appealing destination for those seeking employment opportunities and a…

Florida is home to over twenty different species of termites with the most damaging and common species are subterranean and drywood termites. These termites cause billions of dollars of damage annually in the United States and correct termite identification is pivotal to successful prevention, control, and protection of your home. Subterranean termites live and invade from underground, and a single colony can cover one acre underneath homes. They typically live in dark, moist, hidden environments underground but will create and live in carton nests aboveground. These can be found in walls and attics of structures and in nearby trees. To move above…

A recent survey from the National Association of Home Builders (NAHB) found that energy-efficient features are among the most sought-after “must-haves” among homebuyers. Among those surveyed, 83% desired Energy Star-rated windows, 81% wanted Energy Star-rated appliances and 80% preferred energy-efficient lighting. Though eco-conscious sensibilities compel millions of homeowners to make their homes more energy-efficient, that’s not the only reason to upgrade your home. The following are a handful of the many benefits of energy-efficient homes. Save money: The U.S. Department of Energy indicates upgrading to energy efficient appliances products can help homeowners reduce their energy costs by as much as 30%. The Environmental Protection Agency…

For now, economic signals suggest more positive news for buyers in 2024 though no experts are forecasting a return to 3% rates anytime soon. More likely, we will see the 30-year mortgage rate decline closer to 6% according to forecasts from the Mortgage Bankers Association and the National Association of Realtors. Mortgage rates and housing prices are both high while the housing supply is running low. The current market has a 3.6-month supply of unsold home inventory. A balanced market has a supply of five to six months. Despite larger shortages, 92% of markets have seen modest…

NAR economist Yun predicts home sales will begin to rise next year – by 13.5% compared to 2023, and the median home price will reach $389,500 – an increase of 0.9% from this year. “Metro markets in southern states will likely outperform others due to faster job increases, while markets in the Midwest will experience gains from being in the most affordable region.” Yun expects rent prices to calm down further in 2024, which will hold down the consumer price index. He predicts foreclosure rates will stay at historically low levels in 2024, comprising less than 1% of all mortgages. Yun…

Many prospective homebuyers have been left wondering when the time will be right for them to enter the housing market. The average 30-year fixed mortgage rate hit 8% this week, the highest level since 2000 but a very moderate rate to the 16.5% I paid for my first home in 1980. Daryl Fairweather, Redfin’s chief economist, said waiting for rates to fall before entering the housing market could be a mistake. “The second that happens, buyers will rush back into the market, and we will see a return of bidding wars,” she said. For homebuyers who are financially prepared to buy a…

While a government shutdown won’t stop people from buying and selling homes, the ripple effects across the economy could be disruptive, especially if it drags on. Some expect to see delays around mortgage loans, particularly if the shutdown isn’t resolved quickly. Zillow estimates around 2,500 originated loans would be delayed per working day. Homebuyers applying for a government-backed mortgage from the Federal Housing Administration would face processing delays. A government shutdown could also delay mortgage loan approval for other reasons. In areas where flood insurance is required, for example, buyers could be stalled if the…