July 2016

Found 24 blog entries for July 2016.


Go Around The Downpayment Barrier

If you want to buy your first home but have not yet been able to, chances are it’s the downpayment requirement that’s stopping you.

According to the National Association of REALTORS®, the lack of downpayment savings is the biggest barrier to homeownership for many buyers.

It can be a challenge saving money when you’re paying monthly rent. Fortunately, there are ways to speed up the process by borrowing some or all of the required money down.

Fortunately, many loan programs today require a small downpayment, or none at all, making it even easier to raise necessary funds. Low-downpayment programs include the zero-down USDA loan and 3.5 percent down FHA mortgage.

When you still come up short, financing a

303 Views, 0 Comments

The national vacancy rates for the second quarter of 2016 reported 1.7 percent for homeowner housing, according to an announcement from the Department of Commerce’s Census Bureau. The report states that the homeowner vacancy rate of 1.7 percent was not statistically different from the rate in the second quarter 2015 or the rate in the first quarter 2016.

The homeownership rate of 62.9 percent was reported to be 0.5 percentage points behind that of the second quarter 2015 rate of 63.4 percent. It was also 0.6 percentage points declined from the rate in the first quarter of 2016, 63.5 percent.

Additionally, the report noted that the second quarter of 2016 homeownership rates were highest in the Midwest at 67.7 percent and the rates were lowest in the

249 Views, 0 Comments

Florida had the largest cash sales share of any state at 45.5 percent for the cash sales share in April 2016, followed by Alabama (45.3 percent), New York (44.2 percent), New Jersey (38.2 percent) and Indiana (38 percent). The report also states that of the nation's largest 100 Core Based Statistical Areas (CBSAs)2 measured by population, Philadelphia, Pa. had the highest cash sales share at 57.9 percent, followed by West Palm Beach-Boca Raton-Delray Beach, Fla. (54.4 percent), Cape Coral-Fort Myers, Fla. (51.7 percent), North Port-Sarasota-Bradenton, Fla. (51.6 percent) and Detroit-Dearborn-Livonia, Mich. (50.8 percent). Syracuse, N.Y. had the lowest cash sales share at 13.3 percent.

Cash sales fell 2.8 percentage points in April 2016 from the

259 Views, 0 Comments

As summer continues to heat up so do the nation’s top single-family housing markets, each demonstrating consistently strong demand, home price appreciation, and economic and demographic growth, according to a recent report from Ten-X.

The report lists the 50 largest housing markets based on their current and forecasted housing fundamentals and from that list, Palm Beach County, Orlando, Tampa, Fort Lauderdale, and Seattle make up the top five markets. Florida claims four out of five of these markets despite the fact that it was one of the states severely exposed to the housing bust. Seattle market highs are attributed to the tech-driven gains of the Pacific Northwest.

These rankings are quite different from Ten-X’s report for the spring

294 Views, 0 Comments


DAVENPORT — In the shadow of some of the world's most popular attractions, Lem Carnes and Reggie Baxter want to create a new destination site in Polk County.

“This could be some kind of destination site,” said Carnes, the vice president of his family's business, Standard Sand & Silica Co. in Davenport, which owns the 4,100-acre site near the Posner Park shopping center. “This is the biggest piece of undeveloped land under single ownership close to the Orlando resorts.”

The new development signals a revival of large-scale projects in Polk following a long downturn after the 2008 Great Recession, experts told The Ledger. Northeast Polk is leading that revival.

“Northeast Polk, with its proximity to Orlando, is probably more than

679 Views, 0 Comments

In June 2016 the fastest, most competitive housing market was witnessed since 2009, according to a report from Redfin. For the typical home, the average length of time for it to go under contract was a reported 41 days. Redfin remarks that this is the shortest time seen since the company began tracking the market in 2009. Additionally, this length was four days shorter than last June. It was also shown that 25.9 percent of homes went off the market in only two weeks. This was an increase from 22.6 percent from last year.

The average sale-to-list price ratio hit 95.5, the highest level Redfin has reported seeing. This year's speed and competition have been driven by an increasing mismatch between supply and demand for homes. In contrast, inventory has

292 Views, 0 Comments

National vacancy rates were 7.0 percent for rental housing and 1.7 percent for homeowner housing in the first quarter 2016, according to a report from the Department of Commerce’s Census Bureau.

The rental vacancy rate of 7.0 percent was 0.1 percentage point lower than the rate in the first quarter 2015 and was virtually unchanged from the rate in the fourth quarter 2015. The homeowner vacancy rate of 1.7 percent was 0.2 percentage points lower than the rate in the first quarter 2015 and 0.2 percentage points lower than the rate in the fourth quarter 2015.

The homeowner vacancy rate was lowest in the suburbs sitting at 1.5 percent and the rates were higher outside Metropolitan Statistical Areas (MSA) with 2.0 percent and inside principal cities with

270 Views, 0 Comments

From your morning cup of coffee through the main course, these gadgets are smart additions to any home.

The kitchen is the heart of the home, but often it’s filled with outdated appliances and cookware. Home technology expert and adviser Armando Ferreira recommends a few of the latest and greatest gadgets to make your kitchen work better for you.

Phillips Hue

Mood lighting? This product lets you dim your lights and change the color depending on the ambiance you’re trying to create. It syncs with your smartphone or tablet and can be connected with other home tech apps.

Quirky Egg Minder

Egg Minder

One of Ferreira’s personal favorites, the Egg Minder sends you mobile push notifications whenever you need to buy eggs. In-tray LED lights will also

374 Views, 0 Comments

Consumer credit defaults as well as mortgage defaults are up from reported rates in May according to data from June by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults.

Despite the increase in default rate percentage, David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices, does not believe there is a cause for alarm. “Looking at the economy and credit conditions, American consumers are in good shape” says Blitzer. “The S&P/Experian Consumer Credit Default Indices covering mortgages and auto loans are within a few basis points of the lowest levels seen in 12 years, while the bank card default index is only 62

255 Views, 0 Comments

The total distressed sales, including short sales and real estate-owned (REO), for April 2016, fell again this month putting these sales 3 percentage points below April of 2015 and 1.7 percentage points from the previous month, March 2016, according to recent data released by CoreLogic. If the current year-over-year decrease in the distressed sales share continues, it will reach that "normal" 2-percent mark in mid-2017.

Data showed that REO sales accounted for 5.7 percent of total home sales in April 2016 and short sales accounted for 3 percent. The REO sales share was 22.2 percentage points below its peak of 27.9 percent in January 2009. The REO sales share was 2.4 percentage points below the April 2015 share and is the lowest for the month of April

258 Views, 0 Comments