Prompted by tumbling property values and a large number of sub-prime loans, Florida has also been slow to get back on its feet because of a foreclosure process that on average takes more than two years to complete, according to report by a Washington -based coalition that is tracking the nation’s housing recovery.
real estate
Foreclosure Fast-Tracking Bill Has Homeowners Worried About Being Shoved Out
A controversial bill backers say would speed up the foreclosure process and help jumpstart the economy made its Florida Senate debut Monday amid concerns that the measure could leave some homeowners unjustly out in the cold.
Mission Stumbles: How Fannie and Freddie Put Homeowners and Taxpayers at Odds
Here’s a primer on Fannie and Freddie’s role in the housing market, why their actions often go against the interests of homeowners and are even at odds with their own mission, and what to expect from here on.
Good News for Flagler Property Owners: Most Home Values Will Barely Fall; Some Will Rise
Flagler County Property Appraiser’s preliminary estimate sees a property value drop in “the low single-digits” at most, with taxable values rising in Grand Haven and Flagler Beach, among other spots, as the five-year collapse in values appears to draw to an end.
Existing Home Sales Just Under 5 Million, 11.3% Better Than Last September
Existing-home sales were down in September on the heels of a strong gain in August, but remain well above a year ago, according to the National Association of Realtors.
UF Survey: Political Acrimony and Economic Ills Hurt Real Estate’s Outlook in Florida
The University of Florida’s quarterly Survey of Emerging Market Conditions concludes that economic and political worries are holding back spending, except by foreigners. Tourism is the state’s strongest bright sport.
From Federally Owned Foreclosed Homes To Rental Properties: Can It Work?
Government-owned foreclosures as rental property investments: The government is looking for win-win solutions for taxpayers, renters, investors and neighborhoods, but there’s plenty of skepticism about the foreclosure-to-rental concept.
GMAC Mortgage Machination: Don’t Have Document to Foreclose? Make It Up
When GMAC, one of the nation’s largest mortgage servicers, sought to foreclose on a homeowner last year and lacked a crucial document, the company just made one up, pointing to a pattern of deceptive filings to foreclose on homeowners.
20% Down Mortgage Requirement Would End Middle Class Home-Ownership As We Know It
If a proposed Qualified Residential Mortgage Rule (QRM) of 20% down and spending less than 28% of monthly gross income on the mortgage takes effect, Marc Morial of the National Urban League argues, middle class home ownership will be a thing of the past.
As Palm Coast Talks Development, Housing Prices Hit New Low, Falling 4.2% in 1Q
Housing prices fell to levels not seen since 2002 as double-dipping prices hit new recession lows. Meanwhile, the Palm Coast City Council discussed approval of a plan that would add 12,000 housing units to the local hosing stock.