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Navigating the Miami Real Estate Market: Overcoming the Biggest Obstacles for Home Buyers The Miami real estate market is one of the most dynamic in the country, but for many home buyers, it presents significant challenges. The biggest obstacle? A combination of high property prices and limited inventory. Miami's appeal as a global destination, coupled with strong population growth and an influx of out-of-state buyers, has driven demand to new heights. This increased demand, paired with a relatively low supply of available homes, has led to steep price increases. For many buyers, particularly first-time buyers, this makes finding and affording a home more difficult than ever. Adding to the challenge are rising interest rates and stricter lending standards, which can make securing favorable financing a hurdle. In such a competitive market, where cash offers and bidding wars are common, the path to homeownership can feel daunting. But don't let these obstacles deter you. With the...

Our synopsis of  "How to Choose a Home" from U.S. News Real Estate: How to Choose a Home Buying a home is a big decision, and it's important to do your research and make sure you're choosing the right place for you. Here are some tips on how to choose a home: Set your budget. The first step is to figure out how much you can afford to spend on a home. This will help you narrow down your search and focus on homes that are within your price range. Consider your needs and wants. Think about what's critical to you in a home. Do you require a lot of space? Do you want a certain number of bedrooms and bathrooms? Do you want a yard? Once you know what you're looking for, you can start narrowing down your search. Do your research. Once you have a general idea of what you're looking for, it's time to start doing some research. Read online reviews, talk to friends and family who have bought homes, and visit open houses. The more information you have, the be...

Reinsurers’ losses paid to Florida specialists increased more than fourfold in three-year period despite no significant storms Read more    Read article as  published in  The Capitolist

As the housing market finally displays signs of continued cooling, home prices across the nation remain at inflated highs, with Americans sitting on a record $27.8 trillion in home equity,  according to a new study from LendingTree  —an estimated $333,000 worth of equity for each owner-occupied housing unit in the nation. Home  >>  Daily Dose  >>  An Increasing Number of Homeowners Tapping Into Home Equity

As published in MReport The newest  national survey  of new homeowners commissioned by  U.S News & World 360 Report Reviews  found that a majority of new homeowners who purchased a home since the beginning of 2021 reported that they felt “house rich and cash poor” with many admitting they felt pressure to buy as home prices ramped up.   Click here  to view the report in its entirety.  

MIAMI — Swiss investment firm Empira Group has purchased a half-acre site west of Miami’s Brickell district for the development of CoralGrove Brickell, an 85-unit apartment community. Read more

The state-backed Citizens Property Insurance Corp. could raise policy coverage limits above the $700,000 threshold currently in place The move comes amid a scramble by homeowners to find insurance coverage and many companies have exited the Florida market With home prices still rising, many homeowners have nowhere else to turn except the state-backed Citizens, but current coverage limits exclude homes valued over $700,000 Citizens Insurance could raise policy limits as homeowners struggle to find coverage | The Capitolist

United Property & Casualty Insurance Company, will exit the Florida market, as well as Texas and Louisiana, all states that are prone to hurricanes. The company said obtaining reinsurance led to their decision to exit the market Homeowners will be forced to shop elsewhere when their policies come up for renewal State officials say recent measures put in place to shore up the market require time to make an impact Another insurer bids goodbye to Florida, other hurricane-prone states | The Capitolist

Kittisak Jirasittichai / EyeEm / Getty The company strived to be No. 1 and once churned out a third of all U.S. mortgages. But it’s cutting ties to outside lenders after years of regulatory struggles. Read full article in Florida Realtors

Sky Noir Photography by Bill Dickinson Increases in Miami (up 36.2%) and Honolulu (up 23.5%) reflect remote work trends, but 8 cities with “top 10” price increases are ones with still-affordable housing. Home Prices Still Soaring in Undervalued Cities

OsakaWayne Studios/Getty Images Prediction: Local home prices could drop perhaps 5%-10% in a few U.S. areas with large home price increases that far surpassed their area’s household incomes. Moody’s: A Few Areas May See Price Declines

CREDIT: US ARMY CORP OF ENGINEERS A bill to make homeowners pay roof-replacement deductibles failed, but OIR says it can be an insurer option, such as lower premiums for owners willing to take a risk. Fla. Regulator: Insurers Can Offer Roof Deductibles

When you buy a home, there are one-time expenses, such as your down payment and closing costs, but there are also ongoing costs you need to prepare for. These costs include homeowners' insurance, property taxes and routine  home maintenance . With this essential guide to creating a homebuying budget, you’ll understand the costs of buying, owning and maintaining your home and how to budget accordingly.  READ MORE

Key Highlights Homes typically sold at a record pace of one week and received full asking price from July 2020 through June 2021. Tenure in the home dropped from 10 years to eight years, the largest year-over-year decline in the history of the data set. Eighty-seven percent of buyers used an agent or broker, and 90% of sellers hired an agent to sell their home. READ MORE.

U.S. Home Price Insights Through July 2021 with Forecasts from July 2022 July 2021 National Home Prices Home prices nationwide, including distressed sales, increased year over year by 18% in July 2021 compared with July 2020 and increased month over month by 1.8% in July 2021 compared with June 2021 (revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results). U.S. Home Price Insights | CoreLogic®

‘Stunning’ Delinquency Spike Could Mean ‘Bumpy Waters Ahead’ As publishedin  Daily Dose ,  Due to forbearance plans, home foreclosures are at record lows, but skyrocketing serious-delinquency rates point to a rough road ahead. That is, according to CoreLogic, provider of property-data analysis, which just released its monthly  Loan Performance Insights  report for August. It showed, nationally: Overall delinquency rate for August was 6.6%. The rate for early-stage delinquencies (30 to 59 days past due) was 1.6%, down from 1.8% in August 2019. The share of mortgages 60 to 89 days past due was .8%, up from .6% in August 2019. The serious delinquency rate(90 days or more past due, including loans in foreclosure) was 4.3%, up from 1.3% in August 2019. This is the highest serious delinquency rate since February 2014. As of August 2020, the foreclosure inventory rate was .3%, down from .4% in August 2019. “Five months into the pandemic, the 150-day delinquency rate for Aug...