Down Payments Rise From Pre-Pandemic Era—but You Don’t Need To Put Down as Much as You Think
Higher home prices and mortgage rates aren't the only rising numbers in the housing market post-COVID-19. The average down payment for a median-priced home has increased significantly since pre-pandemic days. Climbing mortgage rates and market dynamics are driving buyers to put more money down, with the pandemic leading to a rise in down payments. Despite…
Read MoreWho Owns Your Mortgage? And Why Does It Matter?
Your mortgage lender might sell your loan to another investor after you close. This frees up capital for the lender and generates cash through servicing fees.
Read More9 insurance companies reducing rates in 2024. Is your insurer on the list?
The Florida Office of Insurance Regulation notes a decrease in property insurance rate filings, indicating improvement in housing insurance issues. Nine companies have filed for rate reductions, while ten companies have filed for a 0% increase. Legislative reforms in 2022 and 2023 are contributing to market stabilization. Continue to full article
Read MoreFlorida Housing Market Predictions for Next 2-Yr
Florida's housing market is expected to see slower growth but remain positive in the next two years.Rising interest rates are causing an adjustment with more properties on the market.
Read MoreJacksonville’s Jewel: Florida Living for $108K Income Families
In Jacksonville, the required income to purchase a median home was $108K in April, ↑ 8.3% yearly. The median listing price for homes is $420K, ↑ 2.4% yearly.
Read MoreFlorida Cities See Home Value Drop
Three Florida cities have declining home values among 15 in the US. Cape Coral-Fort Myers home prices ↓4.4% yearly.Panama City, Florida saw ↓3.8% yearly.
Read MoreHow to Access Your Home’s Equity
Homeowners have increased access to cash through rising home values. Options for tapping home equity include loans, lines of credit, cash-out refinancing, and reverse mortgages. Factors to consider include home value, loan products, costs, and borrowing needs. It's essential to compare options and understand the implications before making a decision. Continue to full article
Read MoreBest Neighborhoods: Jacksonville, FL
Deerwood: Average Home Rent: ~$1.5K Median Home Sale Price: ~$335K San Marco: Average Home Rent: ~$1K Median Home Sale Price: ~$540K
Read MoreNE Florida Home Sales Plunge in Early Q2
The combined six-county First Coast region saw a 5.8% decrease in closed sales and a 26.7% decrease in pending sales.Despite the sales decline, the median home price for the First Coast increased 2.7% to ~ $400K.
Read MorePrepare Your Home before Hurricane Season
PLAN AHEAD 1. Create an emergency hurricane plan for your family and home. Compile a list of emergency contacts, including fire, police, family, neighbors, friends, tree services, utility companies, and your insurance agent. Create a communications plan for your family before, during, and after a hurricane. Choose someone outside the danger zone as the central…
Read More
