Estoppel letters are commonly known as homeowner’s association (HOA) dues letters or certificates in other states. But in Florida, we refer to them as estoppel letters. Let’s talk about the role an estoppel letter plays in a real estate transaction and the common fees associated with getting one. What is an estoppel letter in Florida? Estoppel letters are part of any real estate closing for a home or...
The Liberty Library is a publication of the latest, most important news in the Financial and Real Estate markets. Rising Insurance Costs Start to Hit Home Sales Cape Coral, Fla., was devastated by Hurricane Ian last year, but real-estate agents still pitch waterfront homes as “Gulf access haven.” Insurers take a different view however. Home-insurance premiums are soaring in the Southwest Florida...
No matter where you live, you need to prepare your home for any type of climate threat or natural disaster. And if you live in an area like Florida prone to hurricanes or other storms, it’s especially important. This means making sure your homeowners insurance has you covered with the right amount and policies. How much homeowners insurance do I need? It all depends. You need the right amount of...
US homeowners are nearly twice as willing to sell if their mortgage rate is 5% or higher, but just one in five mortgaged homes meet that criteria. For those who have a mortgage rate of at least 5%, 38% said they’re planning on selling their homes, according to a quarterly survey by Zillow. Just 21% of holders with rates below that dividing line said the same. Existing-home sales have...
Most people feel they pay too much in property taxes. But there are ways you can lower them. Let’s look at the 5 steps you can take to lower your next property tax bill. Request your property tax card The local assessor’s office has on file all of the necessary information about your property. And you can request a copy of your tax card with this information from them. On the property tax card,...
"A rolling loan, they say, gathers no loss." Commercial mortgages function differently than residential loans. Investors borrow for shorter periods and structure loans with large balloon payments at the end. They're designed to be refinanced. It's not that market participants have forgotten the lessons of the global financial crisis that followed the 2000s boom, it's that they remembered them. In the...
A Friendly Reminder of the Importance of the Florida Hometown Heroes Housing Program and changes effective July 1, 2023 The Florida Hometown Heroes Housing Program makes homeownership affordable for eligible community workforce. This program provides down payment and closing cost assistance to first-time, income-qualified homebuyers so they can purchase a primary residence in the community in which they...
Commercial Real Estate (CRE). Keeping a list of the various struggles in CRE today. As they say, location location location. San Francisco has a problem right now but there are other locations as well. This week, Westfield and Brookfield Properties announced they had stopped making payments on a $558mn loan secured against San Francisco's sprawling downtown mall that they have owned since 2002, and...
Are you planning to sell your house? If so, you may be surprised to hear just how much buyers value energy efficiency and eco-friendly features today. This is especially true as summer officially kicks off. In fact, the 2023 Realtors and Sustainability Report from the National Association of Realtors (NAR) shows 48% of agents or brokers have noticed consumers are interested in...
A home is a big investment, so it’s important to understand all the expenses that come after buying a home. One expense homeowners forget about is property taxes. Property taxes can be a significant annual expense that can affect you for years after your purchase. So it’s important to know what your property taxes will be and how it works. How are property taxes calculated? Property taxes are...