Cold Spring for the House Market

Posted On: March 8, 2019

Springtime invites many new home buyers into the market. However, this year seems to be taking a slow start due to higher prices. This is mainly hitting high economy areas, like California and other western states and cities and is part of a trend we've seen over the last five months. There are also too many homes and not enough buyers which has made homes more expensive. Danielle Hale, the chief economist for realtor.com, says "Sales have slowed. ... Affordability is a challenge." This is mostly because of a long-term housing shortage that pushed prices higher, on a monthly and…

Inspect Before You Buy

Posted On: March 1, 2019

When looking for your future home, you'll most likely wonder if anything is wrong with the house. This is what home inspectors do too, they worry about your next home for you. Approximately 55 percent of home inspections nationally wrote doors that needed adjusting, 54 percent lacked exterior caulking and sealant, which could leave the home vulnerable to water damage, and about 48 percent of homes' Ground Fault Circuit Interrupter (GFCI) lacked protection to reduce the risk of electrocution in places like the kitchen or bathroom. Unfortunately, some fixes for a new home or any home can be quiet expensive.…

Flood Insurance Reform

Posted On: February 22, 2019

In 2017, House Financial Services leadership announced that the flood insurance reform would be a priority. The flood program was going to expire on September 30th, in 2017. However, several controversial reform bills were introduced that stalled in Congress. ¬†Once the 2017 hurricane season hit, Congress changed focus which led to multiple short term extensions of the flood program. 2018 saw many extensions which turned into program lapses and more week-long extensions. Just like 2017 and 2018, the year 2019 might not be any different. However, there is always hope for true reform. Late 2018 Congress voted on a standalone…

New Tax Laws Trigger Moves to More Affordable Florida

Posted On: February 15, 2019

Who doesn't love living near or on the beach, close to Disney and Universal Studios, or in a nice tropical paradise filled with rivers, beautiful nature, and tons of activities for the family (no matter their taste)? The obvious answer is nobody; Florida is a giant mixing pot for many reasons. People from other states are more frequently deciding that Florida is perfect for them, not just because of the things listed above, but for the fact that it is more affordable; Especially those in high tax states. One example is New Yorkers beginning to find themselves moving to Florida.…

Tax Returns for 2018 are a Little Different

Posted On: February 8, 2019

Doing your taxes from 2018 could look slightly different than it did last year. There were more than 600 rule changes that took place by the Tax Cut and Jobs Act, which was passed by Congress in late 2017. Those changes also made industry experts concerned because of the government shutdown on December 22nd of 2018. However, this was resolved by President Trump announcing that the Government will partially be up and running on January 25th, making it possible for taxes to be filed as early as the 28th. Tax filers need to understand that it won't be the usual…

New Tax Rule Creates Big Win for Realtors

Posted On: February 1, 2019

The National Association of Realtors (NAR) call the new tax rule a Massive win for realtors. The new tax law sees a reduction of the corporate tax rate going from 35 percent to 20 percent. This new ruling will help realtors give better deals at better prices. Also, this is tax return time, so that means more money to spend on future homes. The new tax law sees all real estate agents and brokers who are not employed, but operate as sole proprietors or owners of partnerships eligible for the new deduction, which can be as high as 20 percent.…

Wire Fraud is on the Rise

Posted On: January 25, 2019

Scammers will do whatever it takes to get their hands on your hard earned money. For a scammer to trick individuals, they must first gain trust. However, why make you believe what they are selling when they can act like someone you know? Recently they have been doing just that, using emails disguised as coming from someone you are doing business with, and then following up with a text message from the same area code or close to yours, claiming to be the same individual. These numbers close to yours might make you want to answer the call or text,…

What’s Coming in 2019?

Posted On: January 18, 2019

The economy will experience ups, downs, and plateaus in 2019. After a well rounded 2018, how will 2019 fare against it? Well, professionals are saying not that great. This year will be slowed, not drastically, but we should expect numbers to go down. You can not expect numbers to stay high forever. This is just economic nature; like a roller coaster, it goes up and down. However, 2019 will have upsides. The unemployment rate is expected to drop to 3.3 percent, whereas in 2018 it was 3.7 percent. Over 200,000 jobs were created last year, this year another 160,000 jobs…

Property Management & Cybersecurity

Posted On: January 11, 2019

The thought of computer hackers being abundantly present is an often overlooked and frightening realization. Hackers have gotten so skilled at their craft that there are very few protections that they can not breach. It is crucial for real estate businesses to be aware of the possible detriment to the agency if there is a potential breach in security of its clients. Cybercriminals have been taking advantage that there is currently no federal law for real estate businesses to possess security measures to protect client information. As high as 50 percent of real estate companies admitted to not being adequately…

Top Florida Real Estate Stories of 2018

Posted On: January 4, 2019

SETCO stays on top of real estate stories and wants our clients to stay in the know as well. Florida Realtors website chose to cover some of the top stories of 2018. Being about anything from Hurricane Michael to cuts in business rent tax, these stories are ones to read. Hurricane Michael The Florida Realtors Disaster Relief Fund started accepting applications for aid and donations from Realtors throughout the state of Florida who wanted to help. Hurricane Michael has caused a significant change in the economy of the towns affected and will forever alter the realty in this area. Insurance…