Cities with the most expensive homes in Orlando metro area
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. Given the current state of the real estate market, housing affordability plays a determining role for buyers. As of June 17, 2022, the 30-year fixed mortgage rate sits at 6.25%. As a result of higher mortgage rates across the board, home prices have risen significantly. The typical home value in the United States increased over the last year by +20.9% to $334,141.
Orlando sets real estate records in May for home prices, inventory increases, report shows
Homes hit the Orlando real estate market in May faster than they ever have before, and what they sold for rose the median home price by almost 3% in the area, according to data compiled by the Orlando Regional REALTOR Association.
DeLand to change housing regulations amid affordable housing ‘crisis’
City commissioners in DeLand have been searching for ways to help residents get affordable housing. During their next meeting, they will vote on a proposed ordinance to loosen developing regulations to hopefully bring in more housing options.
Clergy members petition Volusia County to create affordable housing trust fund
Affordable housing A group of clergy members is petitioning the Volusia County council to establish an affordable housing trust fund to help bridge the gap to get people into housing they can afford. (WFTV.com News Staff)VOLUSIA COUNTY, Fla. — A group of clergy members is petitioning the Volusia County council to establish an affordable housing trust fund to help bridge the gap to get people into housing they can afford. Inflation and rising rents are increasing the number of people struggling to find affordable housing in the county and across Central Florida. According to the U.S. Department of Housing and Urban Development, a housing trust fund provides grants for local governments to use to preserve affordable housing for low-income households. READ: ‘This crisis is only going to get worse’: Many struggling to find affordable housing in FloridaCouncil Member Barb Girtman said she does support a housing trust.wftv.com
You paid HOW much over asking? Tell us your wild housing market stories here
We’ve all heard about it by now: Houses are selling like crazy (and they have been for quite some time), interest rates have been at all-time lows, and it seems like everywhere you turn, you learn of another wild real estate story.
Hundreds of families could be evicted when moratorium ends
The protest was part of a national day of action calling on the incoming Biden administration to extend the eviction moratorium initiated in response to the COVID-19 pandemic. (AP Photo/Michael Dwyer)SARASOTA, Fla. – The Centers for Disease Control and Prevention’s federal moratorium on evictions is set to expire March 31. “It’s literally impossible for that money to reach renters and landlords before the scheduled expiration of the moratorium on March 31,” Yentel said. AdYentel said that even under the federal moratorium, many renters have lost their homes already because of the confusion and lack of public outreach about the moratorium and rental assistance programs. Some tenants who have received federal assistance through rent programs, stimulus checks and unemployment have chosen not to pay, Doggett said.
Need for affordable housing skyrocketing in Daytona Beach
DAYTONA BEACH, Fla. – Five acres of land on the corner of Brentwood Drive and Derbyshire Road in Daytona Beach will soon be home to 100 units of affordable housing. He hopes a lot of that funding will come from a state grant and federal credits and that the site meets the requirements. Smith said he hopes to break ground this fall but he already has his eye on other properties to build even more affordable housing, eventually. Daytona Beach Mayor Derrick Henry said employment opportunities are growing but they aren’t paying a lot. Henry estimated several thousand more affordable housing units will be needed over the next several years.
Florida taking part in Emergency Rental Assistance program
Florida is taking part in the Emergency Rental Assistance program to help Floridians impacted financially by the coronavirus. Ron DeSantis announced Monday that the state would take part in the program, which was established by the COVID-19 relief legislation that was passed in December. [TRENDING: Manatee found with ‘Trump’ etched into skin | Carnival says 2020 bookings are strong | Here’s how to register for COVID-19 vaccine]The program would provide $1.4 billion in emergency rental assistance to Floridians who qualify, with more than $850 million administered by the state. Today I announced the state of Florida’s participation in the federal Emergency Rental Assistance Program, which will provide $1.4 billion in critical rental assistance funding to Floridians. More info here – https://t.co/Iv1yQuFo3R — Ron DeSantis (@GovRonDeSantis) January 12, 2021Household qualifications for assistance:.
Orlando area holds more than $359 million in unclaimed property
ORLANDO, Fla. – Florida’s top financial official is on a treasure hunt to find the owners of millions of dollars worth of unclaimed property. Jimmy Patronis, the state’s chief financial officer, announced Monday that the Orlando area currently has more than $359 million in unclaimed funds. Overall, Florida has $2 billion in unclaimed property. According to his office, one in five Floridians has unclaimed property. Patronis said to keep up with this month’s Holiday Money Hunt, follow the hashtag #FLHolidayMoneyHunt on Twitter.
Governor announces loan program to help with housing after Hurricane Michael
Ron DeSantis was in Panama City Monday afternoon to announce a program that will provide $15,000 loans to help residents find housing after Hurricane Michael. DeSantis said that come Sept. 1, the state will relaunch the Hurricane Michael loan recovery program to provide residents with $15,000 loans to assist with housing costs. “Expected to launch September 1, the Hurricane Michael Recovery Loan Program will offer below market 30-year fixed rate first mortgages coupled with up to $15,000 in down payment (DPA) and closing cost assistance for qualified homebuyers. DPA loans will be zero percent interest, non-amortizing and forgivable at 20 percent per year over five years. The DPA loan is fully forgivable if an active duty serviceperson is officially reassigned and must sell the home,” it read.
Central Florida leaders discuss housing, evictions amid global pandemic
ORLANDO, Fla. – Heart of Florida United Way CEO Jeff Hayword said the COVID-19 pandemic continues to have economic consequences for Central Floridians. On Wednesday, he held a meeting with local leaders to discuss what he calls a housing crisis in the community. From March 17, 2019, to June 17, 2019, there were over 2,300 residential eviction cases filed in Orange County. In the same period of 2020, there have been less than 300 residential eviction cases filed. Tiffany Moore Russell, with the Orange County Clerk of Courts, said July though October is typically when they see a high peak in evictions.
Hard times hitting home? Here are ways to avoid foreclosure amid pandemic
As soon as you realize you might have trouble making your mortgage payments, you’ll want to get in touch with your lender. You do not want to wait until you can’t pay your bills to contact your lender. If foreclosure is something you fear you might face, the following are options you may have available to you. Mortgage forbearanceAccording to USA.gov, federally backed home loans can get six months of mortgage help, and Federal Housing Administration reverse mortgages are eligible, as well. There are many options available to you, but the bottom line is: Contact your lender, and do not wait until it’s too late.
For the first time in 13 years, Florida agrees to fully fund affordable housing
TALLAHASSEE, Fla. – For the first time since 2007, the Florida House and Senate have agreed to fully fund the state’s affordable housing trust fund, known as the Sadowski fund. However, nearly $3 billion have diverted out of the Sadowski Fund to balance the state budget over since 2008. "That is dedicated dollars for state affordable housing programs that are literally being stolen out of that trust fund to pay for other non-related priorities," he said. "That money will be used to help counties provide more affordable housing for their citizens that are in desperate need." Though both the Florida House and Senate agreed not to sweep the fund, the budget still has to be finalized.
Florida state representatives are fighting for affordable housing funding
TALLAHASSEE, Fla. – Florida State Rep. Carlos Guillermo-Smith (D-Orlando) says finding solutions to fight Central Florida’s affordable housing crisis is a priority in Tallahassee right now. According to U.S. Department of Housing and Urban Development, affordable housing is defined when a person or family isn’t spending more than 30% of their income on rent or mortgage. "In Central Florida, 12,000 people are on the waiting list for affordable housing. "It is an affordable housing crisis and that's why we have made tackling this at the state level important for us." "The reality is, we have a very limited number of resources to pay for affordable housing and transportation," Smith said.