Moving away from a family home can be an emotional experience for a Florida family, but when job transfers and other life events force moves, individuals should do whatever they can to get the best possible value out of their residence. This can mean starting early to prepare for putting a house on the market in the future.
Eminent domain is a complex legal process wherein a governmental body may take land from a private property owner and compensate them for the taking. While it may seem as though a Florida land owner will ultimately be made whole through the compensation they receive from the governmental body, this is only true if the land which was taken was valued appropriately.
Every year coastal communities across the nation brace for the possible damage that comes with hurricanes. Floridians have had to weather many serious storms in the last decade, and just recently Hurricane Michael wreaked havoc on the state as it boomeranged through the Gulf of Mexico and slammed into the panhandle. With all of the destruction that hurricanes bring with them readers may be left wondering just what happens to real estate markets when the big ones hit.
Not everyone's lifestyle is amenable to home ownership. Buying a home literally requires a person to put down roots and to invest time, energy, and money into the residence that they have chosen to make their own. However, for many Americans, home ownership is part of the dream they have for their futures. This post will offer some suggestions to readers who are struggling to find their footing in the residential real estate market.
As an increasing number of young people in Florida and across the country purchase homes, the mortgage industry may be looking to escalate its technical sophistication. Many millennials have expressed a preference for a digital process that is faster and more efficient. In June 2018, 91 percent of closed loans were made to millennials for purchases of new homes. This marked an increase from 81 percent in January 2018 and 90 percent in May.
Parents in Florida will often take bold steps to provide for their children. A Realtor.com survey found that 78 percent of respondents gave up items on their housing wish list to live in a good school district. Among the most common amenities that buyers passed up included garages, updated kitchens and outdoor living space. Respondents also commonly said that they bought homes with fewer bedrooms to be near quality schools.
There are currently 44 million Americans who owe a total of $1.5 trillion in student loan debt according to the website Make Lemonade. However, some in Florida and throughout the country may doubt whether or not they can buy a home while carrying such debt. The good news is that student loan borrowers may be able to qualify for a home loan. This can be especially true for those who have a credit score of 750 or more.
Individuals in Florida who are interested in buying a home may have to spend over six years to save up for a 20 percent down payment. This is a result of both higher rents and higher home prices throughout the country. According to an analysis by HotPads, it could take some people up to 30 years to save enough money to make a 20 percent down payment on a home.
Summer is a popular time to sell a home. Homeowners in Florida can take certain steps to entice buyers to give their property serious consideration. Having an open house is an effective method for giving prospective buyers an up-close look at a home. However, during the summer, it may be ideal to hold such events on days other than the weekend. For example, open houses that take place during rush hour may provide a more convenient opportunity for buyers to examine a home.
Those who are planning on buying a home in Florida should make use of contingencies and disclosures. When a buyer goes to an open house, the seller should provide a disclosure form that lists all the potential problems with the home. If there are known issues that aren't revealed, it may be possible to ask that they be corrected prior to closing.