by admin | Oct 27, 2015 | Market Data
Freddie Mac and Fannie Mae keep their $30B cap.
Source: www.bisnow.com
Both Fannie Mae and Freddie Mac will be maintaining a $30B multifamily loan cap in 2016, having boosted their multifamily financing to $66.4B this year. Commercial lenders financing apartments had been hoping the cap would increase, but the FHFA instead exempted other types of multifamily mortgages from counting towards the cap to accommodate those affordable ones instead. Other exemptions will include properties in higher-cost areas, loans for senior housing and small multifamily properties that target low-income tenants. In2016, rural area apartments and loans for energy-efficiency improvements will become exceptions. Up to $12B in exempted “relief” is expected at the end this year
by admin | Oct 27, 2015 | Market Data
Florida is the No. 10 most tax-friendly state for retirees, according to Washington, D.C.-based Kiplinger’s Retiree Tax Map.
Source: www.bizjournals.com
Florida is the No. 10 most tax-friendly state for retirees, according to Washington, D.C.-based Kiplinger.
by admin | Oct 27, 2015 | Market Data
Source: sarasotaheraldtribune.fl.newsmemory.com
Florida remains the most popular state for international buyers of U.S. residential real estate, but rising home prices and less favorable exchange rates reduced the number of sales to foreigners in the Sunshine State over the past year.
Foreigners purchased 44,000 existing residential properties in Florida during the 12-month period ended in June, down by 8,300, or 16 percent, from the previous year, according to a new study by the National Association of Realtors which was off 33 percent from the peak of 66,100 international sales recorded in the July 2009-June 2010 year.
The dollar volume of international sales totaled $23.7 billion, 24 percent of the state’s total residential sales and higher than the prior year’s 19 percent.
by admin | Oct 27, 2015 | Market Data
Brevard has seen a housing rebound in sales and prices over the past two years, but it’s not millennials fueling that recovery.
Source: www.floridatoday.com
Early in 2015, the U.S. Census Bureau reported that Florida had one of the largest declines in home ownership in the nation during the past decade, going from more than 73 percent at the start of 2005 to just under 65 percent at the end of last year.
The only states with steeper declines were Nevada, North Dakota, Minnesota, Alabama and Arizona.
Last year, the Census Bureau reported Florida had passed New York in population to claim the rank of the country’s No. 3 state, with almost 20 million residents, fueled mostly by people moving into state. For instance, Census data showed that the Sunshine State is gaining about 25,000 more New Yorkers than it loses to New York each year.
by admin | Oct 27, 2015 | Market Data
The good and bad news is that buoyed by a flood of capital, this year will be the biggest for CRE ever, said economist Sam Chandan, Ph.D., during Trigild s recent 15th Annual Lender Conference here.
Source: www.globest.com
Buoyed by a flood of capital, this year will be “the biggest for CRE ever.” as he value of US commercial real estate transactions in the first half of 2015 jumped 36% from a year earlier to $225.1 billion, ahead of the pace set in 2006, according to Real Capital Analytics.
Despite the record numbers, moderate economic growth, an improving labor market and marginally higher interest rates imply more-limited appreciation rates on the horizon.
In this climate, it is more challenging for investors to say no to deals as the tendency is to take the deal.
by admin | Oct 26, 2015 | Market Data
It’s a question most people eventually come to face: Should I rent or buy a home? However, the data that was previously used to answer the question didn’t consider the specifics of the situation facing Millennials. This new study from Trulia takes into account the real variables for young homebuyers, and as it turns out, buying a home is still the better option.
Source: www.housingwire.com
Even with their unique financial and living situations, it is still better for Millennials to buy a home rather than rent in most cities.
This latest edition of Rent vs. Buy considers these Millennial factors. Trulia also assumed a 3.85% mortgage rate on a 30-year fixed-rate loan, itemized federal tax deductions and a 25% tax bracket
