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Mortgages Real Estate

How Are Local Mortgages Doing?

The latest mortgage delinquency statistics show that Hurricane Irma is continuing to disrupt local mortgage repayments this month even though it is almost a year behind us. Both short-term delinquency rates (30 days late) and more serious delinquencies (90 days plus late) are up year on year. Also, after a long run of reduced foreclosure rates, they also have continued trending up over the last few months. We can’t really blame Irma on the short-term delinquencies anymore, but the more serious delinquencies are still up due to the lasting effects of the storm.

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Home Buying Real Estate

The Pros and Cons of Retiring in Florida

When we get to retirement, we find ourselves having the freedom to move somewhere new. The first place that comes to mind for many is likely our great state of Florida. However, before you take the leap, you should examine the pros and cons. Although you shouldn’t think of the below an exhaustive list, it should give you some good things to consider.

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Home Buying Home Prices Home Selling Real Estate

The U.S. & Florida Real Estate Markets

While I focus most of my time on what’s happening in Manatee and Sarasota counties, it’s also important to follow the broader real estate trends. Overall, the real estate market in the United States is seeing significant price increases. Over the past 12 months, average sale prices for homes have risen by 7.1%.

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Mortgages Real Estate

Mortgage Rates Have Flattened Out

We saw mortgage rates stay essentially flat last month after a rapid rise to start this year. Average U.S. rates for 30-year fixed rate mortgages are currently at 4.55%. At the end of last month, they were sitting at 4.56%. While it is great to see upward momentum reverse for the time being, the general forecast continues to be for a slow continued rise over the rest of the year.

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Home Buying Home Selling Real Estate

Luxury Condos Keep on Selling!

The Sarasota and Manatee county markets for condos & townhomes remain disconnected for properties between $600k and $1M. In Manatee, it is better to be a buyer; however, the market is balanced in Sarasota. While the $1M+ condo market in Sarasota has favored sellers all year, this is just the second month that we have also seen it happening in Manatee.

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