National Real Estate Info Archives - Larry Roorda Realtor

House-Senate plan could delay flood ins. increase

WASHINGTON – Oct. 29, 2013 – A bipartisan group of lawmakers in the U.S. House and Senate, including Florida Sen. Bill Nelson, announced an agreement to delay flood insurance rate increases under the National Flood Insurance Program (NFIP). The bill – The Homeowner Flood Insurance Affordability Act – will be introduced today. Important note, however:…

FAQs for Biggert-Waters Flood Insurance Reform

TALLAHASSEE, Fla. – Oct. 7, 2013 – Homeowners hit with substantial increases in their flood insurance as a result of recent changes in the federal program should do their homework, experts say, because there may be ways to lower their bills. “A lot of people don’t know the flood map is not set in stone,”…

Alex Rodriguez buys Miami Condo

With a 211-game suspension and the possibility, it appears, of his major league career coming to a premature end, Alex Rodriguez has embraced a more frugal lifestyle. The embattled New York Yankees slugger recently purchased a new high-rise condo in South Beach. However, it is not quite what we have come to expect of baseball’s richest player. A-Rod shelled out only…

Hyperlocal Hijinks: Signs Your Local Market is Defying the National Headlines

I received a reader email the other day that went something like this: “Who decides whether the market is good or bad? Who sets the prices on homes?” People like you do, my answer goes. Buyers and sellers, by virtue of their buying and selling activity, decide the mood of the market. And the price…

Miami’s Famous Versace Mansion Just Sold for a Bargain $41.5 Million!

After more than a year on the real estate market, Miami’s Versace Mansion finally sold for $41.5 million in a closed-door auction today. For those keeping score, that’s an $83.5 million discount from the home’s original $125 million listing price. The infamous property was bought today by the Nakash family, owners of iconic ’80s denim brand…

Floridians’ Confidence in Economy Unchanged in August

GAINESVILLE, Fla. – Aug. 28, 2013 – Florida’s consumer confidence level was unchanged in August, matching July’s revised reading of 77, according to a University of Florida (UF) survey. Three of the five categories in the August survey declined, while two increased. Respondents’ perceptions of whether they are in better financial shape now than they…

Florida Leads Nation in Cash-Only Home Sales

MIAMI – Aug. 29, 2013 – Florida led the nation last month with what one expert called an “astounding” rate of all-cash home sales: 66 percent, a new report shows. Investor groups, international buyers, landlords and those in the market for vacation homes are fueling a cash-only market that has virtually shut out entry-level homebuyers,…

Is Generation Y Ready for Homeownership?

NEW YORK – Aug. 15, 2013 – Millennials, also known as Generation Y, have come of age during one of the most turbulent economic times in American history. And these 20-somethings still want to buy homes, despite seeing home values plummet during their formative years. “The aspiration for homeownership is still there, but they…

South Florida Home Prices Climbing Back

MIAMI – July 31, 2013 – Seven years after the South Florida real-estate bubble stretched as far as it could, buyers continue to pump more air into the deflated market. New numbers from the S&P/Case-Shiller real-estate index for South Florida show home values up 14 percent this year. That’s the best 12-month gain since July…

Flood Insurance History & Reformation

Flooding is the most catastrophic natural hazard and causes, on average, $3 billion dollars in damage annually. In 1936 The Flood Control Act was the first national program aimed at flood damage. In 1965 Hurricane Betsy caused over $1 billion dollars in damage along the Gulf Coast of Florida to Louisiana, and was the first…