Does Foreclosure Ruin Your Credit Score?

Posted On: September 27, 2019

Recent research posted by LendingTree shows that after a year of foreclosure, 7% of the ex-owners have credit scores over 680, and 2% are above 740. However, all credit scores increased by almost 10 points each year. So, just because you get foreclosed, does not mean your credit score will be ruined.  In the United States, more than 600,000 houses were foreclosed on, which is the lowest number since the 2008 financial crisis. So, since our housing market has become so strong, we could be leaving foreclosure behind us (in numbers).  To be specific, a foreclosure does damage your credit…

Home Buying has Never Been Easier

Posted On: September 21, 2019

In this day and age, we always see people on their phones; whether they be out and about, or at home, it seems phones are glued to our hands. However, when it comes to finding that new home, it should be as easy as using your phone. You can do everything on your phone, so why should finding a house be a headache? Well, in a new report done by the National Association of Realtors (NAR), they give us the numbers on who is using their phone to find a house. In the report “Real Estate in Digital Age 2019…

FHA or USDA? Which is For You?

Posted On: September 13, 2019

 When it comes to finding a loan, choosing between FHA or USDA can be a challenge. We can help explain the difference. Both loans are designed for people borrowing with low to moderate-income. However, there are differences between them that can help you make a choice.  FHA loans are insured by the Federal Housing Finance Agency. These loans are available for those who have never bought a home or someone who hasn’t owned a home in three years or more. Offered by private lenders, these loans also offer low down payments and closing costs, and you don’t need a high…

Equifax to Pay Up to $700 Million to Settle the Security Breach in 2017

Posted On: September 6, 2019

One of the nation’s big three credit score agencies, Equifax, will be paying up to $700 million to settle the investigations of its 2017 (making this the largest settlement for a data breach) cybersecurity data breach that compromised the information of 150 million people. Also, the breach impacts homeowners if their lender relied on their Equifax score to figure out if they had a good enough credit score.  However, the settlement will include payments to affected customers, fines, and the other various amounts of mandated changes to Equifax’s business practices to better protect there consumers’ personal data. Furthermore, the California…

Impacts of the Trump Administration on Real Estate

Posted On: August 30, 2019

Three months ago we posted a blog, Make Real Estate Great Again, where we discussed President Trump’s influence on Real Estate: “During the hour long address, our president put the environmental and other government regulations that impede building on blast. He also spoke highly of his administration’s opportunity zones which encourages investment in struggling communities, and he preached his plans to repair the nation’s housing finance system.” Home sales have seemed untouched (so far) by the mortgage deduction loss. The Internal Revenue Service (IRS), found that in 2018, one out of every five taxpayers claimed deductions; however, this year, that…

Why Moving to the Sunshine State is a Good Idea

Posted On: August 23, 2019

Last month, we wrote an article titled, “Why Buying in the Florida Panhandle is a Good Idea.” In the article, we addressed how Hurricane Michael, a Category 5 hurricane, hit Panama City and neighboring cities and towns. In the wake of the storm, the Panhandle helped bring more people to buy homes.  As new research surfaces, we see that it’s a good idea to move to anywhere in Florida. And not just because of the beautiful beaches, warm weather, stunning nature, or top of the line golf courses.  The President of Florida Realtors, Eric Sain says “Florida continues to attract…

Real Estate is the Number One Choice for Long-Term Investment

Posted On: August 16, 2019

In a poll done by Bankrate.com, real estate was shown to be the most favored investment option amongst pollers, with 31% voting real estate as the best investment for money they would not need for ten plus years.  Real estate has been the number one option among the top choices for many years now. In the poll, stock markets ranked second with 20%, saving accounts and CDs ranked third at 19%. Ranked fourth, was gold and other precious metals with 11%, 7% for bonds, and the last 4% going to Bitcoin and other cryptocurrencies.  Out of the pollers, millennials made…

Why Buying in the Florida Panhandle is a Good Idea

Posted On: August 9, 2019

In October of 2018, Florida witnessed one of its worst hurricanes to ever touch down in the state: Hurricane Michael. The Category 5 hurricane destroyed whatever it touched in its path. The storm left many residents homeless, powerless, and jobless. Then, with what little there was to rent, the prices skyrocketed due to supply and demand. This caused many Panama City residents to look into buying a home. After the destruction of Panama City, came a large group of helping hands: construction workers, medical personnel, and many more devoted volunteers. With the widespread damage of homes and apartments, came incentives…

Medicaid Amendment to Change Florida Property Taxes?

Posted On: August 2, 2019

Smaller, less wealthy counties in Florida are worried that the expansion of Medicaid access to low-income childless families could force them to raise their property taxes. In July, Small County Coalition of Florida lobbyist Chris Doolin wrote Amy Baker (the state’s chief economist) an email stating that it would be “important to identify” which counties are at or near a tax cap, which would restrict the amount of revenue that can be obtained by counties through property taxes. The Agency for Health Care Administration calculates how much each county must contribute to the overall cost of the program, which is…

A Weakening Economy Needs More Homebuyers

Posted On: July 26, 2019

The economic expansion we are seeing in the United States is about to be ten years old, making it the longest expansion in its history. However, this expansion has professionals thinking that it is coming to an end.  During the rise of our economy, we have seen more jobs get created, rising wages and an enormous amount of wealth getting accumulated by homeowners and stock market investors. With homeowners playing such a significant role in the economy, this brings prices of homes down, because of the great desire for homeownership.  Unfortunately, Lawerence Yun, the chief economist of the National Association…