Many buyers are waiting for Condo prices to fall and there be a Housing Crash.
Rising interest rates and slightly lower demand in the market has caused many people to believe that a housing crash is imminent. Despite some signs that the market is slowing down, you shouldn't get too worried or excited about the possibility of a housing crash.
Recent Economic and Market Changes Inflation in the U.S. has been on the rise since mid 2021 and reached a 40-year high of 8.2% in September. To combat the increase in inflation, the Federal Reserve has increased interest rates multiple times throughout 2022, making it more expensive to borrow money. These rapid rate changes directly impact the housing market - mortgage rates have doubled this year, which has
All qualified Florida residents are eligible to receive a Homestead Exemption on their homes, condominiums, co-op apartments, and certain mobile home lots. To qualify for Homestead Exemption, you must own and make the property your permanent residence on January 1 of the year for which you are applying for this valuable exemption. Pursuant to Florida law, all assessments and exemptions are based upon the status of the property on January 1. If you purchased and/or made the property your permanent residence in 2022 and have not applied for Homestead Exemption, you can apply for 2023 exemptions at any time – there is no need to wait until 2023 to file your exemption application with the property appraiser’s office. You can easily
Fake Sellers, Fake Landlords: What’s Real Anymore?
The advice for anyone you meet in real estate? Trust but verify – which means don’t fully trust anyone who isn’t your mother. Scammers continually find new ways to separate you, your buyer or your seller from their money.
ORLANDO, Fla. – Florida Realtors has sent out several articles concerning the uptick in scammers, whether that be a fake seller of vacant land or a fake landlord who doesn’t actually own the rental property or tips on how to avoid being scammed. Watch for red flags so this doesn’t happen in your transaction. (Also see: Scam Involving Sale of Vacant Lots is Back: Don’t Get Fooled Again!) There is also the twist where scammers fraudulently change the corporate
Owners of Condo Units in Florida may be forced to sell their Condos in the near Future (Milestone Inspections).
New legislation in Florida may disrupt the condo industry as we know it today. The new post-Surfside rules will force some owners to weigh the cost of needed repairs against the benefit of moving and selling. It could become an unpleasant choice for many South Florida condominium owners, ahead of a new state building inspection law driven by last year’s catastrophic collapse of the Champlain Towers South building in Surfside. By the time Florida’s updated condo safety law goes into effect in 2025, many owners may have decided that it’s too costly to stay in their decades-old, high-rise condominiums.
