Fewer underwater mortgages as higher home prices help owners regain equity . Find more information bout: Fewer underwater mortgages as higher home prices help owners regain equity #avantiway #MiamiRealEstate #LiveForward . sun-sentinel.com ‘Seriously underwater’ mortgages are on the decline across South Florida as higher home prices restore.
mortgage · mortgage (plural mortgages) A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property, such as a house or piece of farm land.
Some homeowners and executives in the Northeast say it's time to cash in their real-estate chips. like Florida, where the tax bites are less and it's cheaper to buy and maintain a home.. They're selling a home in Long Island, N.Y., to help them expand their real estate investment portfolio in South Florida.
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Some South Florida homeowners say they don't want to sell. Sun Sentinel |. plenty of storage bins would help her three-bedroom home in Coconut Creek. Even as higher values restore lost equity to tens of thousands of. market because they were underwater, owing more than the homes were worth.
County taxable property values are up 6.2 percent in Broward, 4.8 percent in. McCabe said the market will need help to meet affordable housing demands, While homeowners may see higher taxes if local tax rates aren't.
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The number of Tampa Bay homeowners underwater on their mortgages has plunged by more than two-thirds since 2015. According to Zillow, 34,963 area owners now owe more than their homes are worth.
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Home equity continues to revitalize the South Florida housing market. Second-quarter figures from ATTOM Data Solutions show declines in "seriously underwater" homeowners and increases. Realtor.
Fewer homebuyers are paying cash in South Florida because favorable. Today, though, with values rising and distressed homes in short supply, can put their money to better use elsewhere, said Stephen B. McWilliam, "I'm not nave to the fact that the money is at risk in the [stock] market," he said.
Home prices increased across South Florida in June and are inching ever. " Most of the economic indicators support today's prices.. The median means half the homes sold for more and half for less. Prices in all three counties have been on a steady climb since the market began to recover in 2012.