With all of the unanswered questions caused by COVID-19 and the economic slowdown we’re experiencing across the country today, many are asking if the housing market is in trouble. For those who remember 2008, it’s logical to ask that question. Many of us experienced financial hardships, lost homes, and were out of work during the Great Recession – the recession that started with a housing and mortgage crisis. Today, we face a very different challenge: an external health crisis … [Read more...]
30-Year Mortgage Rate Rises Again – to 4.16%
The long-term U.S. mortgage rate climbed for the seventh straight week following Donald Trump's election victory, again marking new highs for the year. Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed rate loan rose this week to 4.16 percent from 4.13 percent the previous week. The benchmark rate is well above its 3.97 percent level of a year ago. The rate on 15-year home loans, a popular choice for people who are refinancing, ticked up to 3.37 percent from 3.36 … [Read more...]
Americans Believe Buying a Home is a Sound Investment
The American Dream A vast majority of Americans believe that buying a home is a solid financial decision, and most believe they could sell their home for at least its initial purchase price, according to a new survey from the National Association of Realtors®. The 2015 National Housing Pulse Survey also found that a preponderance of Americans think that now is a good time to buy a home. The survey, which measures consumers' attitudes and concerns about housing issues in the nation's 50 … [Read more...]
Florida Consumer Advocate Questions Citizens’ Rate Hike
TALLAHASSEE, Fla. – Sept. 3, 2015 – Florida's new insurance consumer advocate wants Insurance Commissioner Kevin McCarty to "strongly consider" the large amount of reinsurance purchased by the state-backed Citizens Property Insurance – and to do it before the Florida-owned firm makes a decision about its requested 3.2 percent rate hike. Consumer advocate Sha'Ron James also asked McCarty in a letter Monday to review Citizens' debt financing and water-loss claims before setting rates for … [Read more...]
Ultra Wealthy Buying Homes as Opportunity Gateways
Reasons Ultra Wealthy are Buying Homes Buying a second or third home is a popular activity for ultra high net worth (UHNW) individuals – 79% own at least two homes, and 53% own three or more. For many UHNW individuals, these decisions are motivated by familiar considerations: lifestyle fit (for example, owning an oceanfront home or lodge near a ski resort), as well as short-term and long-term investment potential. Increasingly, however, some UHNW individuals are buying homes for reasons … [Read more...]
A Visit to Useppa Island – Paradise Without a Passport
Paradise Without a Passport We enjoy giving visitors the grand tour of Useppa, as we introduce them to incredible natural beauty and remarkable island lifestyles. On a recent visit to Useppa Island, Luxury Realtors from Fort Lauderdale, Florida found the tranquility and charming allure of Useppa Island contagious. We invite you to Find Your Key to Paradise. "We took the short jaunt west across Alligator Alley to discover another tranquil paradise—Useppa Island—many notches … [Read more...]
Getting a Large Home Loan Just Got a Little Easier
Large Home Loan Chase bank is easing the lending requirements for its jumbo mortgages, which tend to be loans in excess of $417,000 in many markets and $625,500 in more expensive areas. A potential buyer now only needs a credit score of 680 and a 15% down payment to qualify for a maximum loan amount of $3 million for a primary-residence home. Borrowers used to need a 740 score and put 20% down. By easing its standards, the bank is hoping to gain more customers. "The performance we had on … [Read more...]
Guidance – Owning a Second Home
Tax Planning for Owning a Second Home Learn how mortgage interest, property taxes, rental property and tax-free profit affects your tax return. If you are in the market for a second home, congratulations! Not only can you look forward to having a place to relax, you also can garner some tax benefits for that place at the beach. You can use several tax breaks: Mortgage Interest If you use the place as a second home — rather than renting it out as a business property — interest on the … [Read more...]
IS A SECOND HOME THE NEW MONEYMAKER?
Here's great information from some heavy-hitters about financial pros and cons of owning a Second Home. Now, of course, Florida waterfront real estate is special, and private island real estate is truly unique. When they speak of location below...boy do we have the location for you!! As investments go, real estate is either the smartest place in the world to stash your money or the stupidest thing you can do with it - depending on all kinds of things like location, pricing trends, interest … [Read more...]
The Perfect Island Lifestyles – Useppa Island Florida
We know waterfront Luxury - Useppa Island Lifestyles!! Five exceptional Useppa Island waterfront homes were recently featured by Michael Saunders & Company in The Wallstreet Journal. The Wallstreet Journal The Wallstreet Journal is the country's largest newspaper, with an average weekday circulation of 2.4 million, including print and digital subscribers. … [Read more...]