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Target plans to construct a large-format store near Lakewood Ranch

Target plans to construct a large-format store near Lakewood Ranch

The retailer has applied for a permit from Manatee County to construct a new store, which is nearly 25,000 square feet larger than its average store, at Marketplace at Heritage Harbour off I-75. Target plans to construct a store spanning nearly 150,000 square feet in east Manatee County, adjacent to an existing Costco on Lighthouse […]

Florida’s Property Deed Fraud is a growing issue.

The switch to online property records may be contributing to the problem. Although all 67 counties in Florida have some sort of property fraud alert program, more people need to sign up. Scammers in Florida are selling people’s land and homes without their knowledge. Authorities are advising property owners to take measures to safeguard their […]

30-Year Mortgage Rate Increases to 6.94%.

For the fourth consecutive week, interest rates have risen, climbing to 6.95% from 6.90% last week. This is due to stronger-than-expected inflation reports. The average U.S. long-term mortgage rates have risen for the fourth consecutive week, causing difficulties for prospective homebuyers right as the spring homebuying season begins. According to mortgage buyer Freddie Mac, the […]

Lower rates have given homebuyers more purchasing power – Redfin

Redfin stated that buyers can now afford more expensive homes due to a drop in mortgage rates, compared to October’s rates of nearly 8%. A new report from real estate brokerage Redfin suggests that homebuyers with a $3,000 monthly budget have gained nearly $40,000 in purchasing power since mortgage rates peaked in fall 2018. A […]

Fannie Mae predicts that mortgage rates will fall below 6% in 2024

“According to Fannie Mae’s chief economist, 2024 is expected to be a better year for homebuyer affordability and the mortgage industry than 2023.” The analysts at Fannie Mae predict that the housing market will gradually return to a more balanced state by 2024, and that mortgage rates will end the year below 6%. According to […]

Mortgage rates decrease for the 9th straight week

Freddie Mac reports that mortgage rates have fallen to their lowest level since May. It also stated that the economy is steady with strong growth. The average long-term mortgage rate in the US dropped to its lowest point since May, marking the ninth consecutive week of decline. The average 30-year mortgage rate fell to 6.61% […]

Mortgage rates have hit 7.03%, resulting in a sixth consecutive drop

Freddie Mac’s chief economist says the 30-year fixed-rate loan needs to drop more, but the drop in rates to 7.02% is a welcome relief from last week’s average of 7.22%. Home loan financing costs have decreased as the average long-term US mortgage rate hit a four-month low, according to reports from Los Angeles. The average […]

US Households Require an Annual Income of $115k for a Median-priced Home

In Florida, median income varies across nine metros, ranging from $88.7K in Lakeland (up 13.4% YoY) to $143K in Miami (up 33.4% YoY). According to a report by Redfin, the median-priced U.S. home now requires an average household income of $114,627 to afford it. This is a 15% increase of $15,285 compared to the previous […]

Florida Surpasses New York in Average Home Values

According to a study, Florida has surpassed New York to become the second state with the highest housing values, following California. South Florida and Tampa were ranked in the “Top 20 Most Valuable Metros” list. The U.S. housing market grew by over $2.6 trillion in the past year due to rising home prices and new […]

The Median Prices in Florida’s Housing Market Increased in August.

Median prices for single-family homes rose 2% to $415K, while condo median prices increased 6.2% to $324K YoY. According to Chief Economist O’Connor, mortgage interest rates continue to be the dominant factor. Florida’s housing market reflected familiar trends in August: statewide median sales prices rose YoY while sales slowed, according to the latest data from […]