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…

Hurricane Season is here: Get Flood Insurance

Posted On: July 19, 2019

After the hurricane season we had last year, and with the current hurricane season here now, it is essential that we discuss flood insurance. As we have seen so far this summer, the rain does not seem to want to stop. However, flood insurance is completely separate from homeowners’ insurance. It is important to look into getting flood insurance so you don’t have to worry about the possibility of flooding in your home. But what exactly is flood insurance?  Flood related losses are defined as being “caused by water traveling along or under the ground.”  Flood insurance is mostly covered…

Real Estate Data Breaches Are Scary – Setco Keeps Your Data Safe With Qualia

Posted On: July 12, 2019

Buying a home can be a scary process to go through. You’re sharing sensitive information with multiple people in hopes that information is going into the best hands possible. Recently, a major data leak shows how much of a risk it can be for consumers.  First American Financial Corporation, which is one of the largest title insurance companies in the United States, had about 885 million mortgage-related files exposed due to lack of proper website design.  These files that were exposed could be easily obtained just by going to a specific URL. These files were filled with personal information: thousands…

Hurricane Season is Here

Posted On: June 7, 2019

The month of June brings some "not so good news" to the state of Florida. June 1st marks the beginning of the 2019 hurricane season. Over the last few years, we've seen devastation from Hurricanes Irma and Micheal. With Micheal hitting in October of 2018 and Irma during the month of September in 2017. The good news is that this hurricane season is predicted to be less severe than average. Colorado State University (CSU), the pioneer of hurricane season predictions, is predicting 13 named storms, five to become hurricanes, and two to hit major status (111 mph winds or higher).…

No More AOB Abuse

Posted On: May 31, 2019

A much-needed reform to Florida's Assignment of Benefits will be taking place on July 1st. Florida Governor Ron DeSantis signed House Bill 7065, which marked the end to a seven-year war by the industry and reform advocates, who were looking for a solution to the escalating abuse of the policyholder benefit. For those who need the refresher; an Assignment of Benefits, or an AOB, is a document signed by a policyholder that allows a third party, such as a water extraction company, a roofer, or a plumber, to "stand in the shoes" of the insured and seek direct payment from…

Make Real Estate Great Again

Posted On: May 24, 2019

President Trump spoke of his plans that could affect the real estate industry in front of nearly 2,000 agents at the National Association of Realtors midyear meeting held in Washington, DC. "President Donald Trump wants to make real estate great again." 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. If Trump can make this happen, that will mean more homes, better prices,…

Millennials are Rising Prices

Posted On: May 10, 2019

Over the next ten years buying a home will become more competitive and costly as millions of Americans enter the age range where people usually buy their first home. Skylar Olsen, who is the director of economic research at Zillow, had this to say about the matter; "If this coming wave of buyers have to compete fiercely for homes to purchase, that could drive up rent prices as well as home values." Almost 45 million Americans will be entering their mid-30s within the next ten years. That could possibly raise the demand for homes, which could raise prices, even in…

Tips for Buyers & Sellers

Posted On: May 3, 2019

In case you didn’t know, SETCO is here for sellers and buyers alike. Together, with Qualia, we offer the safest, most advanced closing process available. For this article, we want to give some advice to both buyers and sellers to improve your real estate experience. Let’s start with sellers. Selling a house can be a massive project with many stresses. You will need to worry about repairs, the market, staging your home, and so much more. To start this tip list, we suggest you start with the repairs of the house first or whatever updates you wish to make. Repairs…

Renting Going Down

Posted On: April 26, 2019

As rent prices are going up; the principal-and-interest mortgage payments are going down. CoreLogic's national rent skyrocketed 36 percent from December 2005 to December of 2018. Whereas, typical mortgage payment fell 4 percent over the same time frame. Researchers believe mortgage rates made the most significant difference in the change. In December 2005, 30-year fixed-rate mortgages averaged 6.3 percent. While in 2018, the 30-year fixed-rates were at 4.6 percent. This also happened with the home prices being incredibly different. In 2005 the average cost of a home was $190,000, and in 2018 the average price was $220,305. However, the typical…